Crude oil traded little changed near $135 a barrel in New York after falling almost 3 percent yesterday as U.S. inventories increased unexpectedly.

China, the world's largest coal producer, increased production of the fuel by 11 percent in the first six months to meet increased demand from power generators.

MOST READ MARKETS STORIES

Oil Trades Near $135 After Plunging on Unexpected Supply Gain

Crude oil traded little changed near $135 a barrel in New York after falling almost 3 percent yesterday as U.S. inventories increased unexpectedly.

China's First-Half Coal Production Rises 11%, Stockpiles Drop

China, the world's largest coal producer, increased production of the fuel by 11 percent in the first six months to meet increased demand from power generators.

Australia Has Decade of Oil Resources Left at Current Rates

Australia's oil resources may last a decade at current production rates, making supply security a ``major concern,'' said energy minister Martin Ferguson.

Australia Carbon Plan Won't Mean Recession, Swan Says

Australia's planned carbon trading system, which may boost energy prices by 16 percent, would not drive the economy into recession, Treasurer Wayne Swan said.

Petrobras Submits Counter Offer to Union in Brazil Oil Strike

Petroleo Brasileiro SA, Brazil's state-controlled oil company, presented a counter offer to striking workers that responds to their claims, the company said.

TOP ENERGY COMPANY STORIES

Nexus Crux Gas Project Cost May Rise to $1.4 Billion

Nexus Energy Ltd., developer of the Crux natural gas liquids venture off Australia's northwest coast, said spending on the project may rise as much as 40 percent from an initial estimate because of larger reserves and higher costs.

Woodside Petroleum Sales Rise 52% on Prices, Output

Woodside Petroleum Ltd., Australia's second-largest oil and gas producer, said second-quarter sales jumped 52 percent to a record A$1.48 billion ($1.44 billion) on higher prices and output gains.

Indonesia's Bumi Gains Control of Herald With A$563 Million Bid

PT Bumi Resources, Indonesia's biggest coal producer, gained control of Australian mining company Herald Resources Ltd. after a rival bidding group accepted it's A$563 million ($549 million) offer.

ConocoPhillips Is `Dedicated' to Expanding Darwin LNG Plant

ConocoPhillips, operator of the Darwin liquefied natural gas project in northern Australia, said it is ``dedicated'' to expanding the plant to meet ``tremendous'' growth in demand for the fuel from Asia.

Korea Electric Wins $500 Million Order for Jordan Power Plant

Korea Electric Power Corp., South Korea's biggest electricity producer, won a $500 million order for power plant in Jordan.

HIGHLIGHTS FROM NEWSPAPERS

South Korea May Scrap Plans to Privatize Utilities, Yonhap Says

South Korea may scrap plans to privatize Korea Gas Corp. and the power generation units of Korea Electric Power Corp., Yonhap News reported, citing government officials it didn't identify.

China Guodian to Invest in Xinjiang, Securities Journal Says

China Guodian Corp. plans to invest 20 billion yuan ($2.9 billion) in power projects in Yili in northwestern China's Xinjiang province, China Securities Journal reported, without saying where it got the information.

Elnusa Increases Its 2008 Sales Target by 36%, Bisnis Reports

PT Elnusa, a unit of Indonesia's state oil company PT Pertamina, has increased its 2008 revenue target to 3 trillion rupiah ($328 million) from 2.2 trillion rupiah, Bisnis Indonesia said.