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Asian Palm Oil Company is planning to take advantage of rising demand for the edible oil with a Pounds 45m flotation on Aim this month. The company - owned by [...]

LONDON -- Thomas Cook yesterday ruled out disposals as it attempts to restore profitability after a doubling of full-year losses. The world's third-largest travel group by sales quashed market speculation [...] more...

LONDON -- A consortium led by Woodside, Australia's biggest independent oil and gas group, is expected to invest up to Dollars 500m in Mauritania after yesterday giving the go-ahead to [...]

Hardman Resources is about to increase its exposure in the offshore oil fields of Mauritania, where another discovery yesterday helped to push the explorer's shares up 24 per cent to [...]

Dana Petroleum has reduced its exposure to the Pelican-1 exploration well off Mauritania from 80 to 54.5 per cent through two farm-in agreements. Global Santra Fe, a drilling contractor, will [...]

LONDON -- High oil prices and US moves to diversify sources of crude are to benefit another of Africa's poorest countries with a first oil field development planned for Mauritania [...]

Hereward Ventures announced yesterday the acquisition of a 5 per cent stake in three onshore oil exploration blocks in the Isle of Wight and Portsmouth areas from Black Rock. The [...]

When Petrokazakhstangains a secondary listing in London this week, it willbecome the fourth largest oil company on the main market. With production at its Kazakh oil fields above 145,000 barrels [...] more...

Ramco Energy has raised Pounds 9.2m through an institutional placing. The capital provides Ramco with an alternative to the mezzanine funding available for its Seven Heads gas field development, offshore [...] more...

John Wood Group reported a 14 per cent rise in first-half pre-tax profits and Dollars 100m (Pounds 59.5m) of new contracts yesterday, but said growth might slow in its deep-water [...]

Associated British Ports beat market forecasts yesterday, despite reporting reduced underlying first-half profit of Pounds 66.6m (Pounds 67.6m) as a result of the phasing of property development sales. However, underlying [...] more...

MOSCOW and LONDON -- Russian regulators have ordered Royal Dutch/Shell and Sibir Energy to halt development work at a Dollars 1.16bn joint venture in western Siberia. The Anglo-Dutch oil group [...] more...

The joint venture deal signed last month between BP and the Russian group TNK was hailed as confirmation that Russia is now a safe environment for western energy companies. That [...]

BG said yesterday the first oil had been produced from new facilities on the Karachaganak field in north-west Kazakhstan, which it operates with three partners. The first sales exported through [...] more...

BG Group put another piece into place in its Atlantic basin liquefied natural gas jigsaw yesterday. Its marketing arm is to buy 3.6m tonnes a year of LNG from Egyptian [...]

Richard Mew has resigned from the board of Premier Oil ahead of the imminent completion of a restructuring of the company. He became a non-executive director in March last year [...]

Premier Oil has moved to win a slice of the promising oil acreage offshore north-west Africa, acquiring stakes in the Chinguetti and Banda discoveries from Fusion, the Anglo-Australian explorer. The [...] more...

Ramco Energy has agreed to transfer an 11 per cent interest in the Ulcinj exploration block, offshore of Montenegro, to a subsidiary of Hellenic Petroleum of Greece. Aberdeen-based Ramco has [...]

Venture Production made its third North Sea acquisition of the year yesterday, paying Dollars 9.5m (Pounds 5.8m) cash to ConocoPhillips for a 31 per cent interest in the Audrey gas [...]

Cairn Energy is continuing to hold talks with potential bidders for its deep-water acreage in the Krishna-Godavari basin off the east coast of India. Kevin Hart, finance director, said yesterday [...] more...

Dana Petroleum yesterday announced an agreement with Woodside Petroleum of Australia that will allow it to accelerate its offshore oil exploration programme in Kenya. Woodside has 'farmed in' to four [...] more...

Royal Dutch/Shell increased its European job cuts by 400 yesterday as it gave more details of the restructuring of its exploration and production business in a bid to reduce global [...]

One hurdle remainsbefore Premier Oil's Dollars 670m (Pounds 416m) restructuring is complete and that is expected to be cleared early in the second quarter, said Charles Jamieson, chief executive. The [...] more...

Paladin Resources has boosted production targets and aims to increase its dividend by 5 per cent in the coming year. The oil and gas exploration company confirmed a full year [...]

Lord Browne, chief executive of BP, saw his pay for 2002 fall by 32 per cent, as the company's profits dipped by a quarter and it missed a series of [...]

Cairn Energy saidyesterday it would concentrate itscommercial firepower on projects in western India while limiting its exposure to projects on the east of the sub-continent. Bill Gammell, chief executive, said [...] more...

OMV is pressing ahead with plans to double its size by 2008, Wolfgang Ruttenstorfer, chief executive of the Austrian integrated oil company, said yesterday. He said OMV aimed for a [...]