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Russia Sees Gloom Despite Rise in Oil
In Russia, oil prices are surging, the ruble is up and stocks have taken off. But even the good news has economists worried.
Wall Street Journal

Oil rises over $60 after six-month high settlement
U.S. crude for June rose above $60 a barrel ahead of expiry on Tuesday, extending gains from a six-month high settlement a day earlier amid supply concerns over Nigeria and a U.S. refinery.
IB Times

China shares gain on industry support measures - Forbes
Chinese shares rose Tuesday following the government&os;s announcement of plans to restructure and support oil refineries and light industries. Market sentiment was also helped by overnight gains on Wall Street. The benchmark Shanghai Composite Index ...
Feed Digest

EnCana Corp. (ECA)
EnCana Corp.'s (ECA) better-than-expected first-quarter 2009 results were driven by robust production growth and strong cost controls. Natural gas production was up 4% to 3.9 Bcf/d, strongly positioning the company to achieve full-year guidance. EnCana also benefited from lower operating costs. We continue to like the company for its industry-leading inventory of long-lived unconventional oil and gas assets. Additionally, EnCana remains focused on capital discipline and free cash flows. With about two-thirds of its volumes this year hedged at very attractive price points, the company is expected to generate around $1.6 billion in free cash flows. Keeping in view the company's year-end 2008 proved reserves and upside potential from unbooked resources, our per share net asset value estimate comes to $64.60. Our new $64 price objective, raised from $54 before, is at approximately 100% of our NAV [net asset value] estimate.
Zacks

Asian shares hit seven-month highs, oil at $59
Asian shares climbed to their highest level in seven months on Tuesday on fresh hopes the global recession is easing, and oil hovered at six-month peaks as supply concerns helped buoy up prices.
IB Times

Asian Stocks, Most Currencies Rise
Asian equity markets powered ahead, led by financial and oil stocks, while most Asian currencies gained as appetite for risk picked up. The yen fell, helping Japanese exporters; the Nikkei rose 2.8%.
Wall Street Journal

EnerVest Energy and Oil Sands Total Return Trust Announces May 2009 Distribution
CALGARY, ALBERTA--(Marketwire - May 19, 2009) - NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF america. EnerVest Energy and Oil Sands Total Return Trust ('the Fund') (TSX:EOS.UN) today announced the May distribution of $0.0417 per unit. The record date for this distribution is May 29, 2009 and the payment date will be June 15, 2009. The ex-distribution date for this payment is May 27, 2009. The Fund is a closed-end trust investing in businesses involved directly and indirectly in the Canadian oil sands and traditional oil and natural gas royalty trusts.
Market Wire

Green "gold rush" seen in new U.S. auto standards - Reuters
DETROIT (Reuters) - The tough U.S. fuel economy standards announced by President Barack Obama on Tuesday represents a bonanza for companies that supply hybrid technology and other gas-conserving components needed to meet the new benchmarks. Potential ...
Feed Digest

ANALYSIS-Green 'gold rush' seen in new U.S. auto standards - CNN Money
DETROIT (Reuters) - The tough U.S. fuel economy standards announced by President Barack Obama Tuesday represents a bonanza for companies that supply hybrid technology and other gas-conserving components needed to meet the new benchmarks. Potential ...
Feed Digest

Gasoline Supply Fears Lift Crude
Crude-oil futures ended higher at $59.65 a barrel as fires at two refineries posed a threat to the summer's gasoline supplies.
Wall Street Journal

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Archived "business - oil gas" news stories.

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