Oil prices shot up once again on Tuesday as the United States and its allies maintained pressure for tougher sanctions to curb Iran's nuclear program. Oil prices reached as much as $62.16 per barrel in London and $62.65 in New York. At the same...
Archive - February 2007
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What could be better termed as a pacifying move and a tentatively balancing act, Iraq's cabinet has given approval to a new legislation to structure sharing of national oil revenues. The newly approved national oil law is formula of sharing...
Sinopec Corp of China, ExxonMobil Corp of the United States and Saudi Arabia's Saudi Aramco formally forged an alliance for a mega-petrochemical expansion project and a fuel marketing scheme in Fujian Province to tap demand in southeastern China....
Oil prices shot up to almost touch $61 a barrel on after U.S. government data revealed a sharp fall in fuel supplies last week. Inventories of distillate fuels, that include heating oil, fell around 5 million barrels last week after frigid weather...
China has recently announced that it is planning to build another 25,000 kilometers of oil and gas pipelines by the year 2010 to support briskly growing economic development. The announcement was made by the China Petroleum Pipeline Bureau (CPPLB)....
BP Plc. is trying to restart a high-octane gasoline production unit at its refinery in Texas City. The company has already filed a request with a state regulatory agency. The restart will help offsetting any supply squeeze resulting after Valero...
Bolivia and Brazil has reached an agreement on how much Brazil will pay for Bolivian natural gas, resolving a year's long disputed issue which has divided neighbours.
Brazil keen to settle the dispute as it depends on Bolivia for 50 percent of...
To curve the global warming, U.S government order to limit the carbon emissions to possible limit, as it has became a threat to the world. While addressing the congress, President Bush emphases on the new policy, which would be suggests all measures....
China, the world fastest growing economy, imported an average of 3.22 million barrels of crude oil per day, total 13.69 million tons in January, to meet its demands. As global crude oil prices hit 19-month low to 50 dollar per barrel.
The 3.5...
Higher oil and gas prices boosted Norwegian oil and gas giant Statoil's full-year net income to a new high of 6.5 billion dollars as its turnover increased 10 percent to $67.7 billion.
Norway-based oil giant Statoil reported its full year...
To combat Asia's booming oil demand and fluctuating prices, Singapore's much awaited massive underground oil storage project's first phase, which is worth of $457 million and holds 1.47 million cubic meters oil or 9.2 million barrel, will be...
Cold weather and snow across much of the US have forced oil prices to a fresh one-month high near $59.95 a barrel and forecasters said temperatures would stay below normal for at least the next ten days, boosting heating demand.
The oil prices...
Qatar schedule to host the meeting of major Gas Exporters countries in April, which has 14 member and hold 70 percent of the total world's reserves, aims to shape another group along the lines of the Organization of Petroleum Exporting Countries...
Russian president Vladimir Putin has recently indicated that Russia is interested in creating a 'gas OPEC' to organize supply activity and to ensure energy security. However, despite Putin's insistence that the organization will not be a cartel...
Malaysia has threatened to withdraw from ongoing free trade talks with the United States is it is pressurized to scrap an energy development deal with Iran. Recently, Malaysia had struck a $16 billion deal to develop Iranian Gas fields and build...
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