Word: petroleum
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...addition to the price increase, which went into effect Thursday, the government also said it will require the country's biggest refiner, state-owned China Petroleum & Chemical Corp., known as Sinopec, to increase output and imports of oil products. Sinopec said Wednesday it will run its refineries at full capacity in November, bearing "heavy losses" to guarantee market supply. It will also halt all exports of gasoline and diesel for the time being. As in the past, however, any losses will likely be covered by billions of dollars in government subsidies...
...dollar companies to confront an unpleasant reality from the ground-up. The very source of KSG’s latest donation, Shell, illustrates the transformation of fossil fuel behemoths into supporters of future green energy research. Shell is by no means alone: Other giants like Exxon-Mobil and British Petroleum (BP) have also focused on research on more efficient energy sources and better policies. In fact, for several years now, BP has been cleverly marketing itself as “Beyond Petroleum...
...escape mention at the recruitment session: The bank plays an important role in underwriting the supporters of Sudan’s genocidal government.The Swiss-based bank is arranging a massive stock offering that could raise more than $8.9 billion for PetroChina, the publicly-listed arm of the China National Petroleum Corp. UBS and PetroChina/CNPC hope that the stock offering will be the largest in Chinese securities-exchange history. Earnings from the stock offering will fund new PetroChina/CNPC projects across the world. And one of the company’s chief growth areas is Sudan, where it has allied with...
...feels it is being "cheated" by Khartoum due to its lack of representation in both the energy and finance ministries. South Sudanese officials say that they are not involved in either the production or marketing of the oil, much less the calculation of how much their share of the petroleum pie should be. (Oil accounts for 95% of Juba's income.) Equally problematic is the ownership of Abyei, an oil-rich region caught between the north and south...
...floor office with panoramic views of Doha's new skyscrapers and the Gulf waters beyond, Attiya said that the failure of industrialized countries to provide more refining capacity in the world had led to some shortages of usable fuel. But he was adamant that the Organization of the Oil Petroleum Exporting Countries, which will hold a major summit in Riyadh, Saudi Arabia, in mid-November, is not responsible for today's soaring prices...