Fossil Fuel Energy

LONDON (Reuters) - Global oil demand will grow by more than previously expected in 2010, the International Energy Agency (IEA) said on Thursday, with all the growth coming from emerging markets.

IEA forecasts slight rise in 2010 global oil demand due to improved economic growth outlook. World oil demand will rise this year due to growing economic activity in developing countries in Asia, the International Energy Agency said Thursday as it bumped up its forecasts.

Total SA made a net profit of euro2.07 billion ($2.8 billion) in the fourth quarter as increased production and higher prices for oil offset a steep drop in refining operations, the company said Thursday.

French oil company Total makes $2.8 billion in 4th quarter on higher production, oil prices. Total SA made a net profit of euro2.07 billion ($2.8 billion) in the fourth quarter as increased production and higher prices for oil offset a steep drop in refining operations, the company said Thursday.

Norway's Statoil reports over threefold rise in Q4 profits on higher oil prices, output. Norwegian oil company Statoil ASA said Thursday that fourth quarter profits more than tripled, as a rise in oil prices and increased production offset slumping gas prices.

Venezuela signs multibillion-dollar deals with foreign firms to develop Orinoco oil fields. Venezuela's state-run oil company signed a series of multibillion-dollar agreements Wednesday with foreign and domestic firms to develop oil fields in the South American nation's petroleum-rich Orinoco region.

Markets closed lower in New York after a back-and-forth session after reports said the Federal Reserve was ready to take small steps toward raising rates; Canadian markets were narrowly higher. . Today on Stockhouse

Chevron says damage assessment in Ecuador pollution case is tainted by biased reports. Chevron Corp. has stepped up its offensive against a group that says the oil giant poisoned sections of the Amazon rain forest.

Energy Transfer to acquire natural gas operation in Louisiana from Tristate Midstream. Energy Transfer Partners said Wednesday that it will buy natural gas gathering and treating assets in Louisiana from Tristate Midstream LP.

Halliburton's board changes bylaws for to allow large shareholders to call special meetings. Halliburton Co.'s board revised its bylaws related to special meetings, effective Wednesday.

Share price for oil and gas exploration stock up for debate . Drake Energy (TSX: V.DPE, Stock Forum) shares gushed 58% higher to trade at 23 cents, a new 52-week high. However, shares were off the highs of the session.

To an outsider, the stakes appear high . U.S. lawmakers are toughening their stance on Iran?s energy industry with new economic penalties, but experts doubt the Islamic regime will pay much attention and is more likely to open the doors even wider to other players eager to replace fleeing investors.

Iraq oil pipeline attack cuts production at Baghdad refinery by half, to 70,000 barrels a day. Attackers bombed a frequently targeted oil pipeline north of Baghdad, slowing production at a refinery in the capital by half, Iraq's oil ministry said Wednesday.

Putin calls Baltic Sea gas pipeline 'safe and reliable'. Russian Prime Minister Vladimir Putin on Wednesday downplayed environmental concerns about a planned gas pipeline in the Baltic Sea, saying it would be a "safe and reliable" energy link for Europe.

OPEC sees uncertainty in US economic rebound, but keeps 2010 oil demand forecast unchanged. OPEC is raising questions about how fast the U.S. economy will be able to bounce back, but is sticking to its forecast for worldwide oil demand for now.

ABUJA (Reuters) - Nigerian Vice President Goodluck Jonathan chaired his first cabinet meeting as acting head of state on Wednesday, seeking to revive government business after more than two months of stagnation.

MELBOURNE (Reuters) - Top global miner BHP Billiton <BHP.AX> signaled caution over a sustained global recovery and held off from a share buyback after reporting its weakest first-half profit in four years. BHP's July-December profit nevertheless beat market forecasts and was 24 percent stronger than in the previous half, spurring the miner to raise its dividend slightly, pushing its shares up more than 3 percent.

Bullboards posters forecast continuing high coking coal prices . Shares of Western Coal (TSX: T.WTN, Stock Forum) rallied 9% to $3.45.

Alpha outlines plans to expand natural gas business with up to 100 Marcellus shale wells. Coal mine operator Alpha Natural Resources expanded its tiny natural gas business, drilling its first well in the Marcellus shale.

Walter Energy upgraded to 'Buy' from 'Hold' on improving outlook for metallurgical coal prices. Shares of Walter Energy Inc. are poised to climb with rising metallurgical coal prices, said an analyst Monday as he upgraded the coal producer's stock.