Business - Energy & Oil Industry

QUITO (AFP) - Ecuador and China will form a joint venture to develop an oil bloc in the South American country that has proven reserves of 120 million barrels of crude, an Ecuadoran official said Wednesday. Full Story »

CALGARY, Alberta (Reuters) - Canadian energy companies are being urged to adopt a new set of standards to protect onshore oil and gas pipelines from vandalism and sabotage as police try to solve a case of gas line bombings in British Columbia. Full Story »

INDIANAPOLIS - Duke Energy Corp. says the cost of the coal-gasification power plant it's building in southwestern Indiana has risen another $150 million, boosting the project's estimated price to $2.5 billion — nearly twice the original estimate. Full Story »

WASHINGTON, Nov. 25 - CEOs from Nation's Leading Electric Utilities, Consumer Giants, Manufacturers and Clean Energy Companies Applaud Administration's Announcement and Commitment to Lay the Foundation for a New, Clean Energy Future Full Story »

The dollar's sway over energy markets was on full display Wednesday, with oil and gasoline futures rising sharply as the U.S. currency tumbled to 15-month lows. Full Story »

ALGIERS (AFP) - The OPEC oil exporting group is likely to maintain its production levels when cartel ministers meet in Luanda, Angola December 22, the Algerian energy minister said on Wednesday. Full Story »

NEW YORK - WSP Holdings Ltd., a Chinese manufacturer of oil and natural gas exploration and drilling products, said Wednesday its board has approved a repurchase program of up to $10 million in American Depositary shares. Full Story »

MADISON, Wis. - State regulators have approved higher electric and natural gas rates for Wisconsin Power & Light customers. Full Story »

DENVER - One Republican in the race to become Colorado's next governor is pledging to repeal new oil and gas regulations if elected, and the front-runner for the GOP nomination says he would consider abolishing the rules approved on the Democratic incumbent's watch. Full Story »

CHEYENNE, Wyo. - Environmentalists are questioning the legal justification offered for what would be the only active oil well inside the nation's first national forest. Full Story »

PESHAWAR, Pakistan (AFP) - Suspected Taliban militants on Wednesday attacked and destroyed a tanker supplying fuel to NATO troops in neighbouring Afghanistan, police said. Full Story »

HOUSTON - Halliburton Co., which provides services for the energy industry, said Tuesday that reduced activity by major Mexican customer Petroleos Mexicanos — Pemex — will drag down fourth-quarter profit by 2 cents per share. Full Story »

COTONOU (Reuters) - Pirates attacked an oil tanker off Benin, killing a Ukrainian crew member and stealing the contents of the ship's safe, the head of the West African country's navy said on Tuesday. Full Story »

ALBANY, N.Y. - A natural gas drilling company has agreed to renegotiate the terms of its leases with New York landowners as part of a settlement with the state. Full Story »

WASHINGTON - Interior Secretary Ken Salazar lashed out at the oil and gas industry Tuesday, accusing some industry trade groups of acting like an arm of the Republican Party in criticizing the Obama administration's record on energy production. Full Story »

WASHINGTON (Reuters) - Interior Secretary Ken Salazar on Tuesday fired back at critics who claim he's not supportive enough of domestic energy production, saying their accusations have the same "poison and substance of election-year politics." Full Story »

COTONOU (AFP) - Pirates attacked an oil tanker off the coast of west Africa, killing a Ukrainian officer before escaping with the contents of the ship's safe, the ship's owners and Benin's navy commander said Tuesday. Full Story »

HARTFORD, Conn. - WSP Holdings Inc., a Chinese manufacturer of oil and natural gas exploration and drilling products, posted a third-quarter loss — its first — on lower demand and prices due to the global recession. Full Story »