Finance & Economics | WPN World People News

French ministers Wednesday said France was talking with the US and the UK on a possible release of strategic oil stocks that would help in reducing fuel prices.

South Sudan's oil-rich border areas were the target of Sudanese Armed Forces (SAF) bombing for the second consecutive day Tuesday in one of the biggest confrontation since independence last year, putting lives of over 16,000 Sudanese refuges living in the area at risk.

Eurozone bailout funds need to be increased substantially to at least euros 1 trillion (pounds 836.3 billion), the head of the Organisation for Economic Cooperation and Development (OECD) has stressed.

Food price inflation is running at more than 20 percent

Apple Chief Executive Tim Cook is in China amid talks that the smart phone major was looking to expand operations in the region despite facing multitude of problems.

Total E P UK, a subsidiary of French oil major, is studying all options, including drilling a relief well, to plug a gas leak at its Elgin Well Head platform in the North Sea, approximately 240 km east of Aberdeen.

Nigeria has signed a $10 billion agreement with US multinational General Electric (GE) to build power plants in the country to produce 10,000 megawatts of electricity in the African nation.

President Kibaki Monday announced that the UK petroleum explorer Tullow, which had unlocked billions of barrels of oil in neighbouring Uganda, had made a "major breakthrough" with the discovery of oil in Turkana county, located in the country's arid north-western region.

U.S. Commerce Secretary, John Bryson, on Monday said that high Indian tariffs on the goods manufactured in the United States could cause "meaningful harm" to long-term trade ties.

State energy giant Petroleos de Venezuela SA (PDVSA) will pay US natural gas companies Williams Cos Inc. and Exterran Holdings Inc. a total of $420 million for assets nationalized in 2009, Energy Minister Rafael Ramirez said.