Crude oil fell to the lowest since May 2005 as a recession in the U.S., Europe and Japan cuts global energy consumption.
Oil has declined nearly $100 from its July record as the world economic crisis reduced global demand growth to its weakest in 23 years. Crude oil is poised to drop 15 percent this week, [...]
PetroChina Co., said on Friday it has received approval from China’s Securities Regulatory Commission of issuance 30 billion yuan ($4.4 billion) in medium-term corporate bonds, with unspecified preconditions.
China has been stepping up approvals of corporate bond issuance to bolster corporate fund raising, as the stock market slumps, and to boost the decelerating economy.
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China’s Baoshan Iron and Steel Co Ltd has cut its sales prices for cold-rolled steel products for December by a further 970 yuan ($142) per tonne, trade sources said on Thursday.
Baosteel, the listed unit of the country’s largest steel maker, had already lowered its offer prices twice since it released its fourth-quarter base sales prices, [...]
Botswana’s state-owned energy utility, Botswana Power Corporation, said on Thursday it had signed a contract with leading Chinese firms for the development of 600MW power station.
The utility said it had agreed with China’s construction consortium, China National Electric Equipment Corporation and Shenyang Blower Works Electro-Mechanics Import and Export Co. Ltd to build the power station.
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Coke enterprises in Shanxi, the nation’s top coal and coke producer, are required to further cut production by 60-70 percent till June next year, after price plunged recently as the steel market remains weak, sources with Shanxi Coke Industry Association said recently.
Coke-making enterprises could limit production to the largest extent and even stop production, expect [...]
U.S. coal exports will drop by 15 percent and domestic supply will exceed demand in 2009, reversing recent trends, because of the global economic slowdown, an industry analysis said on Tuesday.
The report by energy investment bank Simmons & Co analysts led by Pearce Hammond predicted U.S. exports will decline from 75 million short tons in [...]
