U.S. DOE allocates $57.5M for smart grid tech
The U.S. Energy Department announced a total of $57.5 million in funding from the stimulus package to continue eight projects to advance smart grid technologies.
China and Ecuador in talks for 2-year oil supply
Ecuador continued in talks with China on Monday, to supply oil to the Asian country under a two-year contract. China would give Ecuador a $1 billion down payment for oil sales, according to Ecuador's Economic Policy Minister Diego Borja, Reuters noted.
Halliburton 2Q profit drops
Halliburton Co., the worldâ€™s second largest oil services firm, reported its second quarter net profit fell $262 million or 29 cents per share, from $504 million or 55 cents per share a year earlier. Its earnings results were affected by weak demand and lower prices but they surpassed analysts' forecasts.