Where would we be without the benefits that mining, oil and gas have provided us. This is an important sector, providing energy to keep our society going.
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Soaring commodity prices and acquisitions helped
mining group Xstrata, the world's fourth-largest copper producer,
double its net income in 2006.
Copper prices surged by more than 80% last year, boosted by demand
from rapidly expanding economies such as China, the company said. Zinc
prices more than doubled during the same period.
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Wednesday 7 March, 2007 04:31 PM |
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The future of coal-fired
power plants is seen so tied up by legal challenges from green
groups, that it could slow, or even thwart, plans to use
America's abundant coal supplies to generate its growing
electricity needs. The recent decision by Texas utility TXU Corp. (TXU.N: Quote, Profile , Research) to
scrap eight of 11 planned coal-fired plants to gain
environmental support for its leveraged buyout, has thrown the
growth prospects of the coal-mining industry into doubt.
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Monday 5 March, 2007 02:51 PM |
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Singapore Power Ltd. plans to join
Babcock & Brown Ltd. in a A$9 billion ($7 billion) bid for Alinta
Ltd., Australia's biggest energy transmission company, said three
people familiar with the transaction.
Singapore Power and Sydney-based Babcock may submit their
offer for Perth-based Alinta on March 12, said the people, asking
not to be identified before an official announcement. Banks were
invited to lend state-run Singapore Power's half of the bid
amount, they said. Babcock will get loans for its portion in
Australia. Alinta shares jumped 4.5 percent.
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Monday 5 March, 2007 02:48 PM |
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Oil prices dropped Monday amid continued declines in Asian markets and concerns about the world's economic outlook.
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Monday 5 March, 2007 02:41 PM |
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While oil shale is found in many places worldwide, by far the largest
deposits in the world are found in the United States in the Green River Formation,
which covers portions of Colorado, Utah, and Wyoming. Estimates of the
oil resource in place within the Green River Formation range from 1.2
to 1.8 trillion barrels. Not all resources in place are recoverable;
however, even a moderate estimate of 800 billion barrels
of recoverable oil from oil shale in the Green River Formation is three
times greater than the proven oil reserves of Saudi Arabia
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Wednesday 28 February, 2007 03:34 PM |
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There are four oil
fields in the world which produce over one million barrels per day.
Ghawar, which produces 4.5 million barrels per day, Cantarell in Mexico,
which produces nearly 2 million barrels per day, Burgan in Kuwait which produces
1.7 million barrels per day and Da Qing in China which produces 1 million barrels
per day. Ghawar is, therefore, extremely important to the world's economy
and well being. Today the world produces 82.5 million barrels per day
which means that Ghawar produces 5.5 percent of the world's daily production.
Should it decline, there would be major problems. As Ghawar goes, so goes
Saudi Arabia.
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Wednesday 28 February, 2007 03:22 PM |
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