Financials

Oiltanking Partners posts gains in net income for 2011

Oiltanking Partners, L.P. posted a net income of US$11.9 million for the fourth quarter of 2011, which was the same net income during the …

Cathay Pacific posts 61% decline in net profits

Cathay Pacific Airways Ltd. posted a 61% decline in net profits due to rising fuel costs and lower demand for air cargo. The company …

Phoenix Petroleum Philippines increases capital stock to P2.55B

Phoenix Petroleum Philippines Inc., a publicly-listed independent oil firm based in Davao City, received approval from its shareholders to increase the company’s authorized capital …

Sinopec’s refining business suffers loss in 2011

Chine Petroleum & Chemical Corporation (Sinopec), the largest oil refiner in Asia, said that its refining sector suffered a CNY34.8 billion (US$5.5 billion) loss …

PetroChina sees slower growth this year

PetroChina Company Limited (PetroChina) reported that it has failed to meet its forecasts, and had a 26% drop in quarterly earnings. The decline …

Primus Green Energy completes third round of funding

Primus Green Energy Inc., a developer of a proprietary process that produces gasoline and other fuels from biomass and natural gas, announced that it …

Sinopec to acquire overseas assets of parent company

China Petroleum & Chemical Corporation (Sinopec) announced that it plans to acquire the overseas oil and gas assets of its parent company, China Petroleum …

SK Group posts record exports in first two months of year

SK Group, South Korea’s third largest conglomerate, posted record-high exports in January and February. Exports are likely to account for more than 70% of …