The state of Alaska plans to delay an oil and natural gas lease sale to December from late October to add land for exploration and increase promotion of the auction, Natural Resources Commissioner Dan Sullivan said.
The U.S. and China are working on a memorandum of understanding to share energy data and are likely to reach an agreement soon, said Richard Newell , head of the statistics arm of the U.S. Energy Department.
The world must prepare for the next energy boom, officials meeting this week in Montreal said, as long-range forecasts that demand will surge eclipse concern that the pace of the global economic recovery is slowing.
SouFun Holdings Ltd., the operator of China’s biggest property website, posted the second-largest first-day gain for a U.S. initial public offering this year after raising $125 million selling shares at the top of its price range.
The U.S. increased its crude-oil price forecast for 2011 by $1 a barrel on projections that global economic growth will lead to higher demand and that inventories in industrialized nations will decline.