October 2009 Archives

Flkkr Retail gasoline prices continued higher Friday to a new peak for the year, forcing consumers to dig deeper into their stretched budgets to pay for fuel.

Mahindra lcv diesel tanks

Natural Gas and Gasoline Higher Natural gas prices have also been moving up, and have now climbed 16 percent in the past two months — just in time for the winter home heating season to kick in.   Supplies of oil and gas are plentiful, so that’s not why the prices are climbing. Storage points for natural gas are so packed that producers are running out of places to put it. Crude Oil stocks are also well above average levels.

Full Story: Scary Halloween News! Retail Gas Prices Hit Highest Level This Year - Examiner.com

ENERGY Weak dollar driving up gas prices Experts said that the continuing surge in gasoline prices is because of a weak dollar, rising global demand for crude oil, and speculative trading.

mahindra diesel tanks

For many motorists, it's time to play ``let's find the cheapest gas price'' game. While driving around in search of cheaper fuel might not make much sense, gasoline prices have increased more than 25 cents a gallon in the last month. Friday, the average for regular in Miami stood at $2.77, up from $2.48 a month ago; Broward was also $2.77, up from $2.46 and Palm Beach County was at $2.80, up from $2.54.

Full Story: Weak dollar driving up gas prices - MiamiHerald.com

, India’smost valuable company, may bank on increased production ofnatural gas to cut dependence on refining and end four straightquarters of declining profit.

Information about India auto components

The explorer and refiner said net income in the threemonths ended Sept. 30 fell 6.6 percent to 38.5 billion rupees($815 million). The median estimate of 15 analysts in aBloomberg survey was a profit of 40 billion rupees. Net salesrose 4.8 percent to 468.5 billion rupees. The recession weakened global demand for fuels, pullingdown crude oil prices from a record and squeezing margins atReliance and rivals Exxon Mobil Corp.

Full Story: Reliance May Bank on Gas Production to Boost Profit - Bloomberg

The key benchmark indices gave up their early gains to trade lower in the afternoon deals today. The Sensex was down 127 points at 15,925 levels and the Nifty shed 0.5 per cent to trade at 4,727.

Oil Tanks manufacturing facility, India.

The oil & gas index on the BSE was down over 2 per cent. The BSE IT index fell 1.3 per cent. Among the Sensex stocks, Bharti Airtel and RCom were the main losers. The stocks fell over 5 per cent each. Bharti Airtel today reported a 13 per cent rise in net profit at Rs 2,321 crore for the second quarter ended September 30, 2009.

Full Story: Markets reverse gains, oil & gas stocks slide - NDTV.com

, India’smost valuable company, may bank on increased production ofnatural gas to cut dependence on refining and end four straightquarters of declining profit.

sheet metal fuel tanks

The explorer and refiner said net income in the threemonths ended Sept. 30 fell 6.6 percent to 38.5 billion rupees($815 million). The median estimate of 15 analysts in aBloomberg survey was a profit of 40 billion rupees. Net salesrose 4.8 percent to 468.5 billion rupees. The recession weakened global demand for fuels, pullingdown crude oil prices from a record and squeezing margins atReliance and rivals Exxon Mobil Corp.

Full Story: Reliance May Bank on Higher Natural Gas Output to Boost Profit - Bloomberg

, theexplorer battling a lawsuit over natural gas sales, reported alower profit, joining BP Plc and PetroChina Co. as earnings fromrefining tumbled following crude’s fall from a record.

Mahindra trucks diesel tanks

Net income in the three months ended Sept. 30 fell 6.55percent to 38.5 billion rupees ($815 million), or 23.40 rupees ashare, from 41.2 billion rupees, or 27 rupees, a year earlier,the Mumbai-based company said in a statement today. The medianestimate of 15 analysts in a Bloomberg survey was a profit of 40billion rupees. Net revenue rose 4.8 percent to 468.5 billionrupees. Weak global demand for fuels squeezed profit margins forrefiners from ConocoPhillips to SK Energy Co. as crude in NewYork averaged $68.24 a barrel in the quarter, down 42 percentfrom a year earlier. Reliance, controlled by Mukesh Ambani , theworld’s seventh-richest man, sells fuels in the U.S. and Europeand is investing in India’s biggest gas field to reducedependence on refining oil.

Full Story: Reliance Profit Falls for Fourth Quarter on Refining - Bloomberg

) reported a third-quarter loss as depressed oil andgas prices led to lower drilling activity that continued topressure pricing for the company's services, and it also gave acautious outlook, sending its shares down as much as 7 percent.

Manufacturer of Hydraulic Oil Tanks India

Oilfield services companies were hit hard as oil and gasproducers slashed spending this year. Firmer oil prices havehelped stabilize spending in some areas, but natural gas pricesglobally have been too low to justify drilling many new wells. "No one knows for certain if we've seen the bottom of thisindustry wide downturn," Chief Executive Richard Hubbell saidon a conference call with analysts.

Full Story: UPDATE 1-RPC posts Q3 loss - Reuters

, 10.28.09, 11:56 AM EDT After a bad quarter, it's time for chief Jim Mulva to fill us in on his plans.

Information about India auto components

HOUSTON -- The third quarter was ugly for ConocoPhillips . The company announced this morning that profits fell 71% to $1.5 billion as revenues shed 42% to $41 billion. - news - people ) later in the week. That's due largely to Conoco's greater dedication to natural gas and refining. Gas prices bottomed out in the quarter below $3 per million BTU, while the refining business was in the doldrums, socked by weak gasoline demand and historically high inventories of diesel.

Full Story: ConocoPhillips Needs Some Clarity - Forbes

Gandhinagar: Chief minister Narendra Modi on the third day of his visit to Russia on Tuesday met the officials of Russian oil and gas major, Gazprom, and impressed upon them the progress made by Gujarat in oil and gas sector.

Manufacturer of oil tanks India.

Officials of GSPC and the business delegation from Gujarat were with Modi when the chief minister met Gazprom officials on the on the sidelines of the 4th International Energy Week Conference in Moscow. The CM apprised Gazprom president Mandawav about Gujarat's achievements in oil and gas sector and the opportunities the state has for international oil & gas companies. Modi told Gazprom officials that "Gujarat is not only increasing its capacity in oil-gas exploration and production and creating petro reserve Gujarat, it is also focusing on developing Pandit Deendayal Petroleum University as theInternational Human Resource Development Institute in World." During the meeting, Gazprom president showed keen interest in creating partnership with Gujarat in oil & gas sector. They showed interest in Gujarat LNG port terminal, exploration equipment, technology transfer and Bhatinda-Gujarat oil-gas pipeline project, and also the management course at the petro varsity. A delegation of the company will visit Gujarat to explore these areas.

Full Story: Modi ignites GSPC interest in Russia - Daily News & Analysis

Oil and gas major Reliance Industries Limited (RIL), led by industrialist Mukesh Ambani, today welcomed the decision taken by the Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee to allocate an additional 20 MMSCMD of gas on a firm basis from the company's Krishna Godavari (KG) D6 block.

sheet metal fuel tanks

At its meeting here today, the EGoM also allocated another 30 MMSCMD of gas on a fallback basis from the block. "With the additional allocation, we will be able to increase and maximize production for the benefit of all stakeholders. The additional allocation will also increase the overall customer base for supply of gas thereby avoiding frequent changes in the production level from the block," a spokesperson for RIL said.

Full Story: EGoM allocates additional 20 MMSCMD of gas from KG D6 - NetIndian

RTT News

Cabot Oil & Gas Provides Pettet Update Reuters The Company estimates it has 175 to 225 gross Pettet locations with a potential of 25 - 35 MMBO, plus 100 - 140 Bcf of natural gas. Cabot Oil & Gas ... Cabot Oil Posts Drop In Third-Quarter ProfitWall Street Journal Cabot Oil & Gas Q3 Profit Drops 42% On Lower Commodity Price Realizations - UpdateRTT News Kodiak Oil & Gas announces public offeringTrading Markets (press release) CNBC -MSN Money -NASDAQ all 45 news articles »

Mahindra lcv diesel tanks

Full Story: Cabot Oil & Gas Provides Pettet Update - Reuters

TwoCircles.net

Modi in Russia for seeking oil and gas assets Press Trust of India Moscow, Oct 26 (PTI) Seeking to explore oil and gas assets for state-run GSPC, Gujarat Chief Minister Narendra Modi will attend two major international ... CM leaves for Russia to ink oil, gas dealsAhmedabad Mirror Gujarat invites Sistema to set up chip facilityBusiness Standard Moscow Embassy hosts dinner for Guj delegationCentral Chronicle DeshGujarat all 15 news articles »

mahindra diesel tanks

Full Story: Modi in Russia for seeking oil and gas assets - Press Trust of India

MUMBAI, Oct 26 (Reuters) - Weak refining margins will dentquarterly results at Reliance Industries ( RELI.BO ), and a risein gas production at a field off India's east coast and theresolution of a gas pricing row are key to future performance.

Information about India auto components

Billionaire Mukesh Ambani-controlled Reliance Industriesand Reliance Natural Resources ( RENR.BO ), led by youngerbrother Anil Ambani, are embroiled in a legal battle over theterms of a deal to sell gas to Reliance Natural at below theprice set by the government. [ID:nBOM489932] "Most analysts have assumed Mukesh will be able to sell thegas at the government approved price of $4.2 per mmBtu," saidR.K. Gupta, managing director of Taurus Mutual Fund. "If the court decides otherwise, there could be asignificant impact on Reliance's future results," said Gupta,whose holdings include several oil and gas stocks, includingReliance.

Full Story: PREVIEW-Reliance Inds to post muted Q2; gas pricing row eyed - Reuters

In a bid to attract Russian investment in the state, Chief Minister Narendra left for the country on Sunday. Modi along with a 13-member delegation is in Russia to discuss cooperation and investment in the gas, oil and power sectors.

Manufacturer of oil tanks India.

On Monday and Tuesday, Modi will attend two conferences — the 4th International Energy Week Conference and the 9th Russian Oil and Gas Week Conference being held at the Moscow World Trade Centre in Moscow. On the third day, the CM is likely to meet CEOs of leading Russian and European oil and gas companies and announce tie-ups with these companies. The CM is also scheduled to meet the president of one of Russia’s leading oil and gas companies, Gazprom.

Full Story: CM leaves for Russia to ink oil, gas deals - Ahmedabad Mirror

Rediff

Nifty ends flat; oil & gas, capital goods decline Economic Times MUMBAI: Equities ended its losing streak by closing on a flat-to-positive note on Friday. Index heavyweights like Reliance Industries and Larsen Toubro kept ... Capital goods, oil & gas stocks weigh on marketsNDTV.com Nifty ends flat; telecom, cap goods, RIL dip, banks, IT upMoneycontrol.com Sensex ends down 103pts amid volatilityBusiness Standard Myiris.com -NDTV.com -Myiris.com all 311 news articles »

sheet metal fuel tanks

Full Story: Nifty ends flat; oil & gas, capital goods decline - Economic Times

Hardy Oil & Gas slumped 41.4 per cent to 320p after the first exploration well on the D9 block in India was abandoned.

Mahindra lcv diesel tanks

The news surprised the market because Reliance Industries had made a large gas discovery in a nearby block. Sylvania Resources fell 10.6 per cent to 61p after terminating its merger agreement with Finland's Rukki Group because the process was moving too slowly.

Full Story: Indian blow for Hardy Oil & Gas - Financial Times

The BSE Oil & Gas index was down 6.5%, as Reliance Industries fell 7.6%. ONGC was down 5.5% and GAIL down 5.2%.

mahindra diesel tanks

Capital goods stocks like L&T, Suzlon Energy and BHEL declined 7.2%, 5.6% and 5.2%, respectively. The respective index fell 6%. In the largecaps, Grasim lost 10% and Tata Motors was down 8.7%. Tata Steel, Idea Cellular, Reliance Capital, ICICI Bank and Unitech slipped 5.5-7%.

Full Story: Sensex, Nifty slip 3% this week; cap goods, oil & gas dip - Moneycontrol.com

UK’s Hardy Oil and Gas, which has 10% stake in Krishna-Godavari D9 block on the east coast of India, will abandon exploration of one well. The Hardy Oil stock was down 36% on the London Stock Exchange on the announcement.

Information about auto components india oem

’s Reliance Industries (RIL), the field's operator, holds 90% in KG D9. RIL’s stock was seen under pressure after the news came out and was down 4% on the National Stock Exchange at time of closing. Hardy Oil and RIL have a similar 10:90 deal for the D3 block. Sastry Karra, CEO, Hardy Oil & Gas PLC, said the well had to be abandoned as initial drilling did not yield positive results. “This was the first amongst the four wells in phase I of the D9 block,” he said, adding that the setback would not deter the company from proceeding to explore other wells in the block.

Full Story: Hardy Oil to abandon 1 well in KG D9 block - Moneycontrol.com

Hardy Oil's announcement that it is abandoning a well in the D9 block of the Krishna Godavari basin pulled down the stock of Reliance Industries, operator of the field, by four per cent on the Bombay Stock Exchange today. The scrip closed at Rs 2047.3 on the exchange.

Information about India auto components

Hardy’s stock plunged 36 per cent on the London Stock Exchange. Hardy Oil and Gas, through its wholly owned subsidiary, Hardy Exploration and Production (India) Inc, holds a 10 per cent participating interest in the D-3 and D-9 fields in the K-G basin on the east coast. RIL holds 90 per cent in the blocks. The British company, in a statement to the LSE, said the well, KGD-A1, drilled for exploration purposes, would be “plugged and abandoned”. “While encountering some background gas while drilling, the well encountered poor reservoir sands in both the Middle and Lower Miocene target levels,” it added.

Full Story: RIL stock sinks 4% on dry gas well - Business Standard

Reuters Firsts Take a look at the most powerful news wins from across the globe.

Manufacturer auto fuel tanks

MUMBAI (Reuters) - Shares in energy major Reliance Industries slid as much as 3.9 percent on Friday after partner Hardy Oil and Gas said it will stop exploring a well for gas in the D9 block off India's east coast. Hardy Oil said in a statement the well, in the Krishna Godavari basin, encountered poor reservoir sands, and will be plugged and abandoned.

Full Story: Reliance shares fall after partner says to abandon well - Reuters India

said afamily agreement reached when India’s richest brothers splittheir business can’t be used to rule on a gas supply dispute asthe private deal isn’t binding on the company’s shareholders.

Oil Tanks manufacturing facility, India.

Mukesh Ambani , 52, is seeking to overturn a June 15 lowercourt ruling compelling the Mumbai-based company to sell naturalgas to Anil Ambani’s group at 44 percent below government rates.The feud has curbed supplies from the nation’s biggest gas field,starved power stations and fertilizer companies of fuel anddeterred energy companies from exploring for oil and gas. , a company controlled byAnil, can’t claim rights to the gas from Reliance Industriesbecause the entire agreement between the brothers at the time ofthe spilt wasn’t presented to Reliance’s board and shareholdersfor approval, Salve said in the courtroom today.

Full Story: Reliance Says Ambani Agreement Not Binding on Company - Bloomberg

The key benchmark indices were trading lower in the afternoon deals today. The Sensex was down 54 points at 17,272 levels and the Nifty fell 0.3 per cent to 5,126.

original equipment manufacturer diesel tanks

Among the Sensex stocks, Hindalco was the top gainer. The stock surged nearly 5 per cent today. Maruti, TCS and Wipro were the other major gainers in the pack. M&M and RCom, however, were the biggest losers in the pack. M&M fell nearly 2.8 per cent and RCom shed 2.1 per cent.

Full Story: Capital goods, oil & gas stocks weigh on markets - NDTV.com

The apex body of oil firms, the Association of Oil and Gas Operators (AOGO), has petitioned Prime Minister Manmohan Singh, saying a media campaign questioning the government’s oil and gas policies gave a distorted picture of how business was done in India.

More on Hydraulic Cone Crusher

The body, set up in 2006, has members cutting across the exploration and production industry, from ONGC to Reliance. On October 8, it wrote to Singh taking exception to “external parties” seeking fixed returns only on investments made in producing hydrocarbons, while the risk money and that spent on unsuccessful exploration was forgotten. Although AOGO did not name the parties the campaign, Anil Ambani group firm RNRL, which is fighting a legal battle with Mukesh Ambani-run RIL for gas supply, had in August brought out an advertisement campaign on the role of government in the tussle.

Full Story: 'Ad campaign distorting perception' - Business Standard

An ashen Anil Ambani, one of the world's richest men, stood before a clutter of television cameras, close to tears.

Information about auto components India

Anil and his brother Mukesh _ ranked by Forbes magazine as the world's 34th and 7th richest individuals _ are locked in an increasingly bitter fight over India's biggest natural gas deposit. The battle between the famous sons of one of India's first great capitalists has quickly become the nation's favorite family feud. It has also exposed flaws in the government's management of the crucial energy sector and the cozy relationship between officials and one of India's wealthiest families.

Full Story: India's natural gas tied up in $17B family feud - eTaiwan News

LONDON, Oct 16 (Reuters) - ICE gas oil futures rose to theirhighest level in about a year on Friday, supported by gains inNew York heating oil futures.

More on Knuckle Boom Crane

ICE GAS OIL * November ICE gas oil rose to as high as $633.75 a tonne,the highest since November last year. * It eased to $626.25 a tonne by 1720 GMT but was still 2percent up from Thursday's close, while Brent crude futures werejust 0.17 percent up at $76.32 a barrel. LGOc1 LCOc1 * Gas oil's crack to ICE Brent futures was around $9.12 abarrel, after closing at $9.92 on Thursday, the highest levelsince late-March for a market close. LGO-LCO1=R * The contango between November and December was $6/$9 atonne, compared with $7.50 at Thursday's close.

Full Story: Europe Distillates/Fuel Oil-ICE gas oil hits year high - Reuters India

State-run Oil and Natural Gas Corporation (ONGC) today said it has won 17 out of the 25 oil and gas blocks it had bid for along with its partners in the just concluded licensing round.

original equipment manufacturer diesel tanks

"In the just concluded New Exploration Licensing Policy (NELP) round-VIII for which the bids closed on October 12, ONGC has again turned out to be the largest winner as per the provisional results declared," the company said in a statement. ONGC, in partnership with certain consortia members, had submitted bids for 25 oil and gas exploration blocks and won 17 of them.

Full Story: ONGC bags 17 oil and gas blocks in NELP VIII - Business Standard

Rediff

CPI welcomes APGIC winning Oil and Gas blocks bid Indopia Hyderabad , Oct 13 CPI today welcomed the Andhra Pradesh Gas Infrastructure Corporation (APGIC) winning the bid for Oil and Gas blocks in the ... Andhra to invest Rs 160 crore for explorationBusiness Standard State wins bid for oil and gas blocks in KG basinHindu State makes foray into oil, gas explorationExpress Buzz Hindu Business Line -Reuters India -Prdomain Business Register (press release) all 118 news articles »

More on Hydraulic Cone Crusher Manufacturer

Full Story: CPI welcomes APGIC winning Oil and Gas blocks bid - Indopia

HYDERABAD: Making a foray into oil and gas exploration, the State-owned Andhra Pradesh Gas Infrastructure Corporation (APGIC) has won four of the five blocks in the K-G Basin that it bid recently.

Mahindra trucks diesel tanks

The Corporation participated in the bidding in partnership with a consortia led by the ONGC, the country’s biggest public sector oil exploration corporation, and included British Gas, Oil India and NTPC. Of the four blocks, one is a deepwater block adjacent to Reliance Industries Limited’s (RIL) D-6. The other three are shallow-water blocks.

Full Story: State makes foray into oil, gas exploration - Express Buzz

ended its first trading session at a discount of 1.72% to its issue price of Rs 58. The share closed at Rs 57 on the NSE. It touched an intraday high of Rs 61.10 and intraday low of Rs 53.85. The total traded quantity was 8,11,64,726 shares and turnover was at Rs 46685.95 lakh.

More on Truck Mounted Crane Manufacture

The company, he said, had put tenders worth Rs 7,500 crore for defence projects. Gandhi added that he saw FY10 revenues at Rs 800–1,000 crore. Ravi Kapoor, Managing Director and Head, Equity Capital Markets, Citigroup, said that the company may see additional USD 15 billion fund raising by FY10.

Full Story: Pipavav Shipyard to bid for defence, oil and gas projects - Moneycontrol.com

NEW YORK, Oct 5 (Reuters) - UBS AG ( UBSN.VX ) has recruitedeight oil-and-gas bankers from Dutch-based lender Fortis Bankafter a series of departures from the Swiss bank, The WallStreet Journal reported on Monday.

Information about auto components

UBS will add eight senior bankers from Fortis in Dallas,giving UBS its first investment banking office there, theJournal reported. Darrell Holley, Fortis's former global head of oil and gasbanking, will report to Steve Trauber, global head of UBS'senergy group, the Journal said. They will start at UBS laterthis year, the paper reported.

Full Story: UBS hires oil, gas bankers from Fortis -WSJ - Reuters

Videocon Industries rose 3.58% to Rs 253.05 at 10:45 IST after the company said it will buy an equity stake in loss-making Finnish electronics firm Elcoteq.

More on Knuckle Boom Crane

On BSE, 3.04 lakh shares were traded in the counter as against an average daily volume of 9.45 lakh shares in the past one quarter. The stock hit a high of Rs 254.25 and a low of Rs 242 so far during the day. The stock had hit a 52-week high of Rs 258.80 on 29 September 2009 and a 52-week low of Rs 82 on 12 March 2009.

Full Story: Videocon Industries gains on plans to buy Finnish firm - India Infoline.com

By Jeremy Morgan Latin American Herald Tribune staff CARACAS – The state oil corporation, Petróleos de Venezuela (PDVSA), announced that it had purchased ConocoPhillips’ exploration and production rights to natural gas reserves in the Deltana Platform, a huge offshore hydrocarbons reservoir in waters east of the Rio Orinoco estuary.

Manufacturer of oil tanks India.

PDVSA didn’t disclose the value of the purchase, nor did the United States company disclose the amount. A ConocoPhillips spokesman did confirm the transaction with Bloomberg News. “We did sell it to PDVSA effective yesterday,” Charlie Rowton, a ConocoPhillips spokesman, reportedly told Bloomberg. The sale “is not related to nor does it have any impact on the expropriation of our assets in Venezuela in 2007 or the arbitration proceeding concerning that expropriation.” PDVSA said the move paved the way for it to take a 61 percent share in a proposed “mixed company” with Chevron, which is also based in the United States, to operate in the areas in which both had been partnered by ConocoPhillips.

Full Story: PDVSA Buys Out ConocoPhillips in Deltana Venezuela Gas Stake - Latin American Herald Tribune

the state-runexplorer that raised 27.8 billion rupees ($578 million) in aninitial offering, gained on its trading debut on expectations ofincreased oil and natural gas prices and higher gas output.

Cone Crusher : http://www.shaktimining.com/cone-crusher.html India

The shares climbed 8.7 percent to 1,141.20 rupees in Mumbaiafter rising as much as 10 percent. The company sold shares at1,050 rupees apiece this month. The benchmark Sensitive Index gained 1.6 percent. “The management has said they plan to double gasproduction in the next five years,” said Vinay Nair , a Mumbai-based analyst with Khandwala Securities Ltd. He says the fairprice for Oil India is 1,200 rupees.

Full Story: Oil India Gains on Expectations of Higher Gas Output - Bloomberg

BAGHDAD, Oct 3 (Reuters) - Iraq is expected to put offpassing its long-delayed oil and gas legislation until afternational polls in January, the head of the Iraqi parliament'soil and gas committee said on Saturday.

oem diesel tanks

"All the indications point to the fact there is no hope forputting the oil and gas law on the agenda during the timeremaining for this parliament," said Ali Hussain Balou, aKurdish politician and sharp critic of Iraq's Oil Ministry. "Due to the insurmountable conflicts between politicalblocs, passage of this law could be delayed until the nextparliament," he said.

Full Story: Iraq oil legislation likely delayed - Reuters India

Oct 3 (Reuters) - An amnesty offer to militants in Nigeria's oil-producing Niger Delta expires on Sunday.

More on : http://www.shaktimining.com/mobile-crane-india.html

The violence, which includes kidnappings, pipeline bombings and oilfield raids, was costing $1 billion a month in lost oil revenues, the central bank said. Attacks on oil infrastructure by militants in the Niger Delta over the past three years have prevented the OPEC member from pumping much above two thirds of its 3 million barrels per day installed capacity.

Full Story: Q+A-What is at stake in Nigeria's Niger Delta? - Reuters

As Nigeria marks the 49th year of nationhood, one sector where the President Umaru Yar’Adua-led administration has not impacted positively on the lives of Nigerians is the power sector.

Exporter of Hookloader Oil Tank

The situation of things in the sector is such that, if Nigerians were asked to assess the government, majority of the people would say that where this sectors is xoncerned, President Yar’ Adua has not done his home work well. Power outage is one of the problems President Yar’Adua inherited  from his predecessor. It is, therefore, not surprising when the president had during his presidential compaign told Nigerians that if elected he would raise the power generation level in the country to 30,000mw, a delaration that made some analysts in the country cry out loud that the then incoming president was saying things that were not feasible.

Full Story: Nigeria At 49, Power, Oil And Gas Industry At 52: No Head, No Tail - LeadershipNigeria

ATP Oil & Gas Corp., an oil and gas producer, said Friday it will defer $99 million in construction costs for a ship's hull.

More on Hydraulic Cone Crusher India

The ship, called the Octobuoy, will serve as a floating production and drilling site at ATP's Cheviot field in the North Sea near the U.K. The hull, or frame of the ship, helps the ship move. ATP Oil & Gas Corp. said it amended its agreement with COSCO Nantong Shipyard Ltd. The deferral will be supported by a letter of insurance issued by the China Export and Credit Insurance Corp.

Full Story: ATP Oil & Gas defers payment on hull - Forbes