Archive for July 11th, 2008

POSCO’s earnings up 34% in the second quarter

Friday, July 11th, 2008

The POSCO, the world's fourth-largest steelmaker, said Friday that its earnings in April-June period gained 34 percent on-year due to the cost-saving efforts, solid demand and higher steel prices. The company said in the regulatory ...

S Korean spending on energy imports peaks in the first half

Friday, July 11th, 2008

South Korea's spending on import of oil, coal, natural gas and other energy products in the first half of this year reach 70.2 billion U.S. dollars in the first half as international crude prices surge, the South Korea Customs Service said ...

News Analysis: Who pushes oil prices higher?

Friday, July 11th, 2008

Since last July, the average oil prices of the Organization of Petroleum Exporting Countries (OPEC)have almost doubled, rising from less than 70 U.S. dollars per barrel (dpb) to over 140 dpb. Facing the skyrocketing prices, different people ...

Iran to raise oil export

Friday, July 11th, 2008

Iranian Oil Minister Gholam-Hossein Nozari said that Iran will raise oil export to 3.5 million barrels a day by the end of March 2010, Iran's satellite Press TV reported on Friday. "Iran's oil export level will be raised to 3.5 mill ...

Japan revises industrial output growth 0.1% downward

Friday, July 11th, 2008

Japan has revised the seasonally adjusted industrial output growth in May downward by 0.1 percent to 2.8 percent, said a revised report released Friday. The index of industrial production in May read 109.3, compared with 100 for the ...

Brazil to sell oil fields at auction

Friday, July 11th, 2008

Brazil will auction oil fields, except for the newly discovered pre-salt areas, authorities said Thursday. Brazil's National Agency of Petroleum, Natural Gas and Biofuels, a regulatory department for the industry sectors concerning ...

Samsung Heavy completes construction of worlds no. 1 LNG tanker

Friday, July 11th, 2008

Samsung Heavy Industries Co. of South Korea, the world's second-largest shipyard, said Friday it has completed building the world's largest liquefied natural gas (LNG) tanker. Mozah, the name of the 266,000-cubic-meter tanker, will ...

Stressed bankers cool off on the ice

Friday, July 11th, 2008

The ice rink offered sweet release for Paul Ardire, an analyst at Deutsche Bank AG, as credit markets unraveled last autumn. Ardire straps on his skates twice a week as captain of two ice-hockey teams the bank sponsors at Chelsea Pie ...