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The slowdown in developed markets is having an adverse impact on export oriented and transnational companies. There is no doubt that the world economic outlook has turned unfavourable.
United Refining Company of Warren ended fiscal year 2008 with net sales of $3.2 billion.
Sales figures skyrocketed for the United Refining Co. when gas prices hovered around $4 a gallon earlier this year. But company profits took a beating from crude oil prices that topped $147 a barrel.
Canadian gasoline prices are the lowest they have been in almost four years, according to a weekly report by Calgary-based petroleum consultancy group MJ Ervin & Associates.
Vancouver, BC, December 4, 2008--(T-Net)--QuestAir Technologies Inc. (AIM: QAR; TSX: QAR) reports its financial and operational results for the fiscal year ended September 30, 2008 ("fiscal 2008"). All amounts are in Canadian dollars unless otherwise noted.
Dec. 4 (Bloomberg) -- OAO Rosneft , Russia’s biggest oil producer, said the fourth quarter will be “difficult” because revenues will be reduced by lower oil prices and a high crude export duty.
The two Japanese companies aim to cope better with falling prices and slowing demand.
Dec. 4 (Bloomberg) -- OAO Rosneft , Russia’s biggest oil producer, said this year’s fourth quarter will be “difficult” because earnings will be reduced by lower oil prices and a high crude export duty.
SAN RAMON, Calif. -- Chevron Corp., the world’s fourth- largest oil company, could sell some refineries as demand for gas and diesel is cut and fuel-production margins are lower as recessions cripple world economies, Bloomberg News reported.
TOKYO, Dec 4 (Reuters) - Nippon Oil Corp, Japan's biggest refiner, is merging with smaller Nippon Mining Holdings Inc in a move to cut capacity and costs as a global slowdown hits demand for oil products.
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