Energy
Crude Oil Rises as Dollar Weakens, IEA Boosts Outlook for Global Demand Crude oil rose toward $83 a barrel
in New York, poised for a second weekly gain, as the dollar
weakened and the IEA bolstered its outlook for oil demand.
Japan Cap-and-Trade Bill Wins Backing From Cabinet, Heads for Parliament Japan’s Cabinet has endorsed a
climate-protection draft law today that would cap industrial
emissions and thrust the second-biggest economy into the $125
billion market for trading carbon credits.
IEA Raises 2010 World Oil Demand Estimate on Developing Economies, China The International Energy Agency
raised its forecast for global oil demand this year for a second
month as fuel consumption in Asia rises more than expected.
BHP, Anglo, Xstrata Bypass Europe on 10,000-Mile Coal Route to China Ports BHP Billiton Plc, Anglo American
Plc and Xstrata Plc are shipping coal 10,000 miles to China from
their Cerrejon mine in Colombia for the first time this year
because of surging demand and rising prices in Asia.
OPEC to Keep Quota Unchanged With Oil Above $80, Survey of Analysts Shows OPEC will maintain existing
production quotas next week as prices hold above $80 a barrel
and the group awaits further confirmation of a recovery in
demand, according to a Bloomberg News survey.
Crude Oil May Decline Next Week on Because of Ample Stockpiles in the U.S. Crude oil may fall next week on
rising U.S. inventories and speculation that demand will
decrease next month, a Bloomberg News survey showed.
Elia to Buy Vattenfall's German Power Grid, Beating Allianz, Deutsche Bank Elia System Operator NV, a Belgian
power grid operator, and Industry Funds Management Ltd. beat out
Allianz SE, Goldman Sachs Group Inc. and Deutsche Bank AG to
purchase Vattenfall AB’s electricity network in Germany.
Petrofac Targets Iraq Oil Fields After Ayman Asfari Quadruples Share Value Ayman Asfari, the chief executive
officer whose oil and gas engineering skills guided a fourfold
increase in the value of Petrofac Plc within five years, is now
preparing to tap Iraq’s energy boom.
Shell May Need to Raise Arrow Energy Offer, RBS Morgans' Nik Burns Says Royal Dutch Shell Plc and
PetroChina Co. may need to increase their offer by as much as 55
Australian cents a share to A$3.7 billion ($3.4 billion) to
acquire Arrow Energy Ltd., said an analyst at RBS Morgans.
Italy's Eni to Return Refining to Profit in 2012, Boost Dividend in 2011 Eni SpA, Italy’s largest oil and
gas company, expects refining to return to profit from 2012
after boosting sales and efficiency. It forecast dividend growth
from 2011.
South Africa Says Eskom's $3.75 Billion World Bank Loan Plan Misunderstood South Africa defended state-owned
power utility Eskom Holdings Ltd.’s plan to borrow at least
$3.75 billion from the World Bank and said critics misunderstand
its purpose.
Batista Closes Gap on Slim, Gates as OSX Sale Bolsters `Richest Man' Dream Eike Batista’s plan to raise $5.6
billion in the biggest initial public offering this year moves
him one step closer to fulfilling his ambition of being the
world’s richest man.
Oneok Gas Pipeline in Oklahoma Explodes and Causes Fireball; No Injuries Oneok Inc. shut one of its natural
gas pipelines today after an explosion on the line near Chandler,
Oklahoma, caused a fireball that tore up into the sky and left
black smoke billowing.
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