Search

The success of OAO Novatek's initial public offering is discussed with an eye to the willingness among foreign investors to risk involvement in a Russian company following losses incurred from investments in OAO Yukos. Novatek, Russia's largest independent gas company, was listed on the London stock exchange, and received top-price for its shares.

PetroKazakhstan Inc. of Canada has a market value of $3.5 billion Canadian Dollars and is being squired for an acquisition. PetroChina Co. of China and OAO Lukoil of Russia both have petroleum interests in Kazakhstan and are considering takeover bids. India's ONGC Videsh Ltd. has also shown interest in tendering a bid.

Russia's OAO Lukoil has doubled its net profit to $1.4 billion from $701 million in its 3rd Quarter based on increased production and high oil prices.

CEO Steven M. Theede, OAO Yukos, hopes to save the petroleum company from a breakup and sale sponsored by the state, a tax dispute with the Russian authorities has been unresolved.

ConocoPhillips has formed a joint venture with OAO Gazprom to provide liquefied natural gas for the U.S. market. The venture is valued at $10 billion (8.81 billion euros).

Usage of a 'smart pig', oil pipeline leak and corrosion detection equipment, led tp BP PLC shutting down its Prudhoe Bay, Alaska operation for major repairs.

China National Petroleum Corp. has suddenly withdrawn from the bidding auction to acquire OAO Slavneft. The company's decision to withdraw from the auction makes OAO Sibneft the leading candidate to acquire Slavneft.

This article reports that flood waters encircle the 484-megawatt Fort Calhoun nuclear power plant in Nebraska as a protective berm holding back floowaters was accidentally torn.

This article reports on the weak performance of the euro against its rival currencies on May 9, 2010 as a result of euro-zone debt concerns.

The article reports that coffee traders in Brazil have supported plans to list its beans to the coffee benchmark of IntercontinentalExchange Inc. (ICE) in 2010.

The article focuses on the plans by the U.S. Commodity Futures Trading Commission (CFTC) for implementing the provisions concerning the swaps market under the Dodd-Frank financial-regulatory overhaul legislation.

The article focuses on the caution raised by the United Nations (UN) over too much regulation on speculative investors in commodities markets in which the agency stated in a report that such regulation can lead to the deprivation of commodity futures markets of participants.

The article reports on the compromises suggested by Russian oil company TNK-BP Holding partners and shareholders. Management changes and power-sharing are the proposed compromises that are set to be done to preserve its Russian asset. Russian co-owners Viktor Vekselberg, Mikhail Fridman and Len Blavatnik hold 50% of the company, stating that the London-based British Petroleum PLC (BP) violated some tenets of a shareholder agreement. BP reacted accusing its Russian partners of their efforts to gain more control over the company.

The article reports that crude-oil futures settled at $5.33 lower at $136.04 a barrel on the New York Mercantile Exchange on July 8, 2008. It is also reported that oil futures fell 6.4% since settling at a record $145.29 on July 3. Estimates on how high oil prices can increase have been revised by the U.S. Energy Information Administration (EIA). Information on the prices of other commodities including copper and corn is also presented.

The article reports on the effect of the decision of Access Industries to acquire Lyondell Chemical. Such decision made speculators rush to purchase call options on Lyondell. The acquisition could give Access an 8.3% ownership in Lyondell. This announcement also made an impact on Lyondell's shares which increased by 10.8% at $3.57 and trading in call options was heaviest which gave traders the right to pay $40 for Lyondell.

The article focuses on the possible improvement in the price of world oil and gold in line with a tepid outlook for sectors of the U.S. economy and an easing of global tensions.