Oilgame

Global crude oil surge to a three-month high following Iran`s detention of 15 British sailors and the UN`s decision to tighten sanctions against the country that triggered concern that Middle East supplies may be disrupted. Oil prices for May...

Some good news for China!! PetroChina which is one of the largest oil companies in the country has struck gold in the oil fields of Bohai Bay. The company claims that this is a very rich oil field and is being considered as one of the biggest findings..

OPEC oil ministers have decided on Thursday to maintain crude production at existing levels. The organization noted that prices around $60 a barrel is appropriate and expressed satisfaction over available supplies ahead of the high-demand American...

Speculations are high that the Organization of Petroleum Exporting Countries may urge its members to comply with production limits when it meets today in Vienna to maintain crude prices around $60 a barrel. However, the organization's ministerial...

Exxon Mobil, the world's biggest oil company, which earned a record $39.5 billion last year, plans to spend to the tune of $21 billion exploring for oil and expanding refineries this year as a worldwide shortage of drilling rigs inflates costs. The...

Brazilian President Luiz Inacio Lula da Silva has said that a U.S. tariff on Brazilian ethanol does not make sense. He further said that he will complain about it to U.S. President George W. Bush as the president is scheduled to visit Brazil later.