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Oil India posts 23.5% jump in Q3 net at Rs 717.28 cr
(The Hindu Business Line - 31/01/2010)

State-run Oil India Ltd on Saturday reported a 23.5 per cent jump in net profit for the third quarter ended December 31, 2009, on the back of higher price-realisation for the crude oil it produces. Net profit in October-December quarter at Rs 717.28

CNPC Hong Kong may spend up to USD 1 billion on gas
(Bloomberg - 31/01/2010)

Bloomberg reported that CNPC Hong Kong Ltd a unit of the country biggest energy company may spend as much as HKD 10 billion on gas projects this year as China encourages use of the cleaner burning fuel. Mr Patrick Lau Finance Manager said the funds will

NYMEX-Crude lower as Wall Street slides, dollar up
(Reuters - 31/01/2010)

U.S. crude futures extended the days lows on Thursday, tracking Wall Street, where a sell-off accelerated amid economic recovery worries. The dollar hit a 6-1/2 month high against the euro, also pressuring crude oil futures. The lift from U.S. President

Conoco aims for global oil trading role with revamp
(Reuters - 31/01/2010)

U.S. oil major ConocoPhillips Co (COP.N) wants to grab a bigger chunk of global oil trading, including markets where it has not normally been active, three people familiar with the firm's plans said this week. The move marks a departure from

Natural Gas Drawdown Falls Short
(The Street - 31/01/2010)

Natural gas futures ended Thursday's session nearly 2% lower after an inventory drawdown fell short of expectations. According to a report from the Energy Information Administration, underground storage saw a withdrawal of 86 billion cubic feet, landing

Crude oil up, gold down after fourh-quarter GDP
(MarketWatch - 31/01/2010)

Crude oil stayed higher and gold futures were lower on Friday, after the U.S. government reported the economy grew more than expected in the fourth quarter of last year. Crude oil for March delivery was up 37 cents, or 0.5%, at $74.01 a barrel. Gold for

Energy Higher, Precious Metals Weak on Strong Dollar
(Briefing - 31/01/2010)

The US Dollar Index is higher this morning, pressuring commodities and the precious metals market in particular. March crude is bouncing off the unchanged line again and is currently 0.9% higher at $74.32 per barrel. March natural gas has traded in

Crude futures drop after U.S. GDP data
(MarketWatch - 31/01/2010)

Crude-oil futures finished down 1% on Friday, as strong U.S. reports on growth and sentiment boosted the dollar, pressuring commodities, while worries about earnings hit stocks on Wall Street. Crude oil for March delivery finished down 75 cents, or 1%,

Crude oil ends lower as dollar sinks commodities
(MarketWatch - 31/01/2010)

Crude-oil futures finished 1% lower on Friday, as strong U.S. reports on growth and sentiment boosted the dollar, pressuring commodities, while worries about earnings saw stocks on Wall Street sink. Crude oil for March delivery finished down 75 cents, or

NYMEX-Crude dips on demand woes, equities, dollar
(Reuters - 31/01/2010)

U.S. crude futures fell midday on Friday as weaker equities, a stronger dollar and paltry demand outweighed data showing U.S. growth in the fourth quarter was stronger than expected. As a result, crude futures on the New York Mercantile Exchange were on

Oil hovers below $74 as traders eye dollar, stocks
(The Economic Times - 30/01/2010)

Oil prices hovered near a six-week low below $74 a barrel on Friday in Asia amid a strengthening US dollar and a pullback in global stock markets. Benchmark crude for March delivery was up 10 cents to $73.74 a barrel at midday Singapore time in

Crude Oil Falls to Five-Week Low as Dollar Rises Against Euro
(Bloomberg - 30/01/2010)

Crude oil fell to a five-week low as the dollar strengthened against the euro, making commodities less attractive as an alternative investment. Oil dropped for a fourth day as the U.S. currency rose to a six-month high on a government report showing that

Oil founders as EIA supply drop vies with China concern
(MarketWatch - 30/01/2010)

Oil futures closed lower Wednesday, with intraday attempts at gains squashed by concerns that Chinese policy moves will stall the global recovery, and by a rise in inventories of gasoline and other refined products. Crude oil for March delivery closed

U.S. Crude Oil Inventories Unexpectedly Down
(ONN - 30/01/2010)

March crude futures are up $0.07 at $74.67 a barrel in after-hours electronic trading. During regular trading, crude oil for March delivery fell $0.55, or 0.7%, to end at $74.71 a barrel at the New York Mercantile Exchange. Earlier, the contract hit an

Brazil OGX sees 2019 oil output at 1.4 mln bpd
(Reuters - 30/01/2010)

The company, owned by Brazilian billionaire Eike Batista, said it would bring forward the beginning of its production to early next year from late 2011, and that it has set a target of reaching a production of 730,000 bpd in 2015. OGX has made a series

US OIL INVENTORIES:Crude Stocks Post Sharp, Unexpected Draw
(The Wall Street Journal - 30/01/2010)

U.S. crude inventories experienced a sharp draw compared to analysts' expectations last week while stocks of gasoline and distillates expanded, according to data released Wednesday by the the U.S. Department of Energy. Crude oil stockpiles fell by 3.9

Energy stocks maintain losses after Fed comment
(MarketWatch - 30/01/2010)

Energy ended mostly lower Wednesday after the U.S. Federal Open Market Committee left interest rates unchanged, and remained lower, though off their worst levels of the day. <p>For more on this <a target="_blank"

NYMEX-March crude drops below 200-day MA, equities off
(Reuters - 30/01/2010)

U.S. crude oil futures fell sharply on Wednesday as front-month March crude CLHO broke below its 200-day moving average, compelling technical traders to sell off, analysts said. "With the slide in the stock markets, the NYMEX March crude contract fell

Crude Oil Rises After Report Shows Drop in U.S. Oil Stockpiles
(Bloomberg - 30/01/2010)

Oil rose after a U.S. government report showed inventories of crude unexpectedly fell last week and some investors took the view that a drop below $74 a barrel made futures attractive to buy. Oil pared yesterday’s decline after the Energy Department said

NYMEX-Crude ends down on technicals, product builds
(Reuters - 30/01/2010)

U.S. crude oil futures ended lower on Wednesday as technical selling and data showing higher refined product inventories pressured the energy markets, negating an unexpected big crude stock drawdown. Adding to oil trading woes, the dollar strengthened

Oil futures hold to losses after Fed statement
(MarketWatch - 30/01/2010)

Crude oil futures held to losses and gold stuck close to its floor finishing price Wednesday after the Federal Reserve released its afternoon rate statement. As expected, it kept rates near 0% and said it would keep them exceptionally low for "for an

Crude prices fall after inventories report
(Oil Marketer - 30/01/2010)

Crude oil prices were lower Wednesday in the wake of the latest US inventories report from the Energy Information Administration. March contracts for West Texas Intermediate crude rose slightly right after the EIA data was issued, but by just before 2

Cairn India Net Beats Estimates on Higher Crude Oil Output
(Bloomberg - 30/01/2010)

Cairn India Ltd., operator of the nation’s biggest onshore crude oil field, reported a 23 percent increase in third-quarter profit, beating estimates, after boosting production. Net income, including that of units, was 2.91 billion rupees ($63 million)

Oil Trades Below $74 as Demand Concerns Outweigh Stockpile Drop
(Bloomberg - 28/01/2010)

Oil traded below $74 a barrel as concerns about falling demand in the U.S., the world’s biggest energy consumer, outweighed a report yesterday showing crude stockpiles fell last week. Crude supplies had an unexpected decline of 3.89 million barrels, the

Oil stays above $73 in Asian trade
(The Economic Times - 28/01/2010)

Oil prices rebounded in Asian trade on Thursday after steep declines overnight following the release of mixed energy stockpiles data from the United States. New York's main futures contract, light sweet crude for delivery in March, climbed 11 cents to