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Research on Chevron Corp. and BP plc - High Oil Prices Fueling Gains for Oil Majors

Research on Chevron Corp. and BP plc - High Oil Prices Fueling Gains for Oil Majors

Many large companies in the Integrated Oil and Gas sector have seen profits take off in the second quarter as several different factors have caused oil prices to continue rising. Companies in the sector such as Chevron Corp. and BP plc have both made significant gains in their stock prices this year.

Libya Years Away from Oil Recovery

Libya Years Away from Oil Recovery

Libyan oil production will take years, not months, to return to full capacity once a political solution to the conflict is found, according to Barclays Capital.

EU Offshore Wind Power Shows Solid Growth in First Half of 2011

EU Offshore Wind Power Shows Solid Growth in First Half of 2011

The European Wind Energy Association (EWEA) today published offshore wind energy statistics for the first half year of 2011, showing a comfortable 4.5% increase in installations of offshore capacity compared to the first half of 2010.

China To Target 10GW Solar Power, 13GW Biomass Power By 2015

China To Target 10GW Solar Power, 13GW Biomass Power By 2015

China will likely target a total of 10 gigawatts of solar-power capacity and 13 gigawatts of biomass-power capacity by 2015 in its new five-year strategic industry plan, the state-controlled Shanghai Securities News reported Monday.

US Govt: 6% Of US Gulf Oil Output, 3.5% Gas Shut In After Storm

US Govt: 6% Of US Gulf Oil Output, 3.5% Gas Shut In After Storm

About half of the daily oil and natural-gas production that had been shut down by Tropical Storm Don had resumed by Sunday, a sign that producers are sending workers back to sea and that facilities were likely not damaged by the relatively weak storm, federal regulators said.

China Unveils Benchmark Solar-Power Tariffs

China Unveils Benchmark Solar-Power Tariffs

China on Monday unveiled long-awaited benchmark solar-power tariffs that will make investment less risky and could boost domestic demand for solar panels.

Iraq July Oil Exports -4.8% On Month At 2.164 Mln B/D - SOMO

Iraq July Oil Exports -4.8% On Month At 2.164 Mln B/D - SOMO

Iraq's oil exports in July ran at an average 2.164 million barrels a day, or 4.8% less than in June due to increase in local consumption, the head of the State Oil Marketing Organization said Monday.

Yingli Solar PV Modules Installed in the Largest Solar Plant in Greece

Yingli Solar PV Modules Installed in the Largest Solar Plant in Greece

Yingli Green Energy Holding Company , a leading solar energy company which markets its products under the brand "Yingli Solar," announced that its PV modules have been installed in the largest solar plant in Greece. The 10 MW utility-scale solar project is located in Larissa, Greece and is expected to produce enough energy to power approximately 3,700 homes in the area.Yingli Green Energy is the exclusive PV module supplier for the project.

Imperial Oil 2Q Profit Up On Higher Crude Prices

Imperial Oil 2Q Profit Up On Higher Crude Prices

Imperial Oil Ltd. reported a 40% increase in second-quarter earnings and said its big Kearl oil-sands project in Alberta remains on track. The integrated oil and gas company, based in Calgary and controlled by Exxon Mobil Corp., earned a higher profit of C$726 million or 85 Canadian cents a share in the latest quarter, citing higher crude oil prices, stronger industry refining margins and increased Cold Lake bitumen production. However, higher royalty costs, lower Syncrude volumes and the stronger Canadian dollar weighed on results

Exxon Shuts Down Some US Gulf Oil,Gas Output Due To Tropical Storm Don

Exxon Shuts Down Some US Gulf Oil,Gas Output Due To Tropical Storm Don

Exxon Mobil Corp. said Thursday that it is shutting down production of about 8,000 barrels of oil and 50 million cubic feet a day of natural gas in anticipation of the passage of Tropical Storm Don through the western U.S. Gulf of Mexico. A spokesman for the world's largest publicly traded company said that Exxon is evacuating nonessential personnel from offshore facilities in the path of the storm

Eni Discovers Gas At New Offshore Well In Indonesia

Eni Discovers Gas At New Offshore Well In Indonesia

Italian energy giant Eni SpA Thursday said it had made a new gas discovery at a well off the shore of Indonesia. Eni successfully drilled an exploration well in the KuteiBasin, offshore Indonesia, at Jangkrik North East 1 NFW

Iraq Akkas Gas Field Development Deal Likely To Be Finalized In August

Iraq Akkas Gas Field Development Deal Likely To Be Finalized In August

Korea Gas Corp., or Kogas, will likely sign the final contract to develop one of Iraq's largest gas fields in August instead of July as had been previously expected, said an official with the South Korean state-run company Thursday. The initial contract--signed on June 1--hasn't received approval from the Iraq Cabinet yet, which is expected to happen next month, said Yoo Jeong-don, general manager of Iraq project group in Kogas, by phone

Neftochim: Moscow Smells Economic War

Neftochim: Moscow Smells Economic War

By suspending the license of the largest refinery on the Balkans, LUKOIL, Bulgaria's government cast a heavy blow on Moscow's interests in the region, Russian media wrote yesterday. LUKOIL Neftochim has a processing capacity of 142,000 barrels of crude oil a day. Half of its production is for domestic consumption and the other half is exported to third countries - Bulgaria's neighbors, USA and Asia, the New Region daily writes

Saipem Net Profit Up 14% At EUR225 Mln

Saipem Net Profit Up 14% At EUR225 Mln

Saipem SpA, Europe's biggest oil services company by market value, Wednesday said second-quarter net profit rose 14%, slightly more than expected, on the year, as it benefited from its strong order book and a good performance from the onshore segment, allowing it to confirm 2011 targets. Saipem, which is 43%-controlled by Italian oil firm Eni SpA, said net profit climbed to EUR225 million for the three months ending June 30 from EUR198 million for the same period last year, while revenue added 12% to EUR3.07 billion. Operating profit increased 10% to EUR364 million over the period