Energy Sector

Chevron reports record profit on oil prices

Chevron reports record profit on oil prices New York - The second largest US oil company Chevron on Friday reported record third quarter profits as it benefited from high oil prices.

Profits nearly doubled to 7.9 billion dollars, the San Ramon, California-based firm said. Revenue rose 43 per cent to 78.9 billion dollars.

Chevron joins the other energy companies that have reported record profits this month. Rival ExxonMobil recorded the largest quarterly profit in US history at 14.8 billion dollars.

OPEC crude price rises towards 60-dollar mark

OPEC crude price rises towards 60-dollar markVienna - The price for

OPEC crude price rises by more than 2 dollars

OPEC crude price rises by more than 2 dollars Vienna - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) rose by 2.23 dollars Wednesday, as the weaker dollar buoyed oil markets, according to data released by OPEC on Thursday.

One barrel (159 litres) of OPEC crude stood at 58.13 dollars on Wednesday, up from 55.90 dollars on the previous day.

The oil price rebounded as interest-rate cuts in the United States and China on Wednesday led to a depreciation of the dollar, Vienna-based analysts JBC Energy said.

Energy group Vattenfall Q3 earnings increase on Nordic operations

Energy group VattenfallStockholm - Swedish state-owned energy group Vattenfall on Thursday posted higher operating profits for third-quarter 2008, boosted by its operations in the Nordic region.

Operating profit before tax and interest was 5.59 billion kronor (726 million dollars), up 17 per cent year-on-year.

Third-quarter turnover increased by 17 per cent to 37 billion kronor, while the net profit fell some 29 per cent to 2.48 billion kronor.

Shell follows rival with huge third quarter profits

Shell follows rival with huge third quarter profits

PM to inaugurate new facilities of Department of Atomic Energy today

Prime Minister Dr. Manmohan SinghNew Delhi, Oct 30: Prime Minister Dr. Manmohan Singh will inaugurate a few new facilities of the Department of Atomic Energy (DAE) here today.

The inauguration will be held from New Delhi through video conferencing link on the occasion of Homi Bhabha birth centenary year.

Dr. Singh will inaugurate two desalination plants - a multi-stage flash evaporation plant located at Kalpakkam in Tamil Nadu and a large mounted desalination plant which is currently stationed in Goa.

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