Unstable oil prices have already eaten into the many economies and big consumers like US and European countries are accusing Iran, Iraq, Russia and Venezuela for it.
If the western countries' allegations are right than we should praise...
Tag - U.S.
Oil prices are surging incessantly, thanks to political mishmash among the oil producers.
Currently, oil is available at $75.57 a barrel and it is highly anticipated that very soon it will cross the three digit marks. The Goldman Sachs Group has...
Venezuelan president Hugo Chavez urges Russia to increase its investment in his country as Venezuelan government has pushed western investors out from the state and those who are providing their services in Venezuela they are under immense pressure to...
The whole world is battling with the mounting oil prices. Refineries profits are digging, automakers has experienced biggest slump. Rising oil prices has become biggest reason for slanting inflation, which has tattered many economies. National banks...
Rising oil prices are continue to bother consumers as it is climbing up to new record daily. Galloping oil prices do not seems to recede. Oil prices have raised again a dollar a barrel higher mark amid concerns about supplies in the US.
In the...
After falling to clear Russian regulators worries, western oil giant Shell has lost its license to drill oil in Russian oil field. US and its supportive European nation impeached Russia to use its oil reserve as an economic and political pressure...
US senators have shown their indignation on oil giant BP and have asked them to clear their basis to reduced capacity of refineries, drilling at their half capacity in the peak US summer season.
Senator Pete Domenici, member of the Senate...
Soaring oil prices seem to break all previous records when the market witnessed a nine-month high near US$72.
This recent surge is apparently pushed by a strike threat in Nigerian oil field and a mounting pressure for imposing tougher sanctions...
Increasing oil prices are forcing consumers to lose the weight of their pockets. Two consumer groups unveiled that in 2006 U.S. families paid $1,000 more on average for gasoline than in 2001, as higher oil prices ate up a hefty portion of the income....
U.S. gasoline prices raised to a record $3.10 a gallon topes all time high $3.07 a gallon in September 2005 after Hurricane Katrina disrupted refinery operations and oil production along the Gulf Coast. The price increased for regular unleaded...
Russia, Turkmenistan and Kazakhstan have agreed to build a new natural gas pipeline around the Caspian Sea, giving Russia significant control over Central Asia's massive natural gas reserves.
The agreement ensures Russia's supremacy over...
Oil prices slashed below $62 a barrel, despite a rally fired by rebels on Nigeria's oil industry that halts up to 150,000 barrels per day of exports.
Rebels blew up several pipelines on an oil export terminal in Niger Delta, which hinder the...
Expressing regard on the mounting call for energy security, a key Senate panel on yesterday recommended for increasing fuel efficiency measures for all kinds of vehicles in the US. The bill tabled by Daniel Inouye and Ted Stevens, the democratic and...
Oil prices slashed again in Asian trading. Light, sweet crude for June delivery dropped 34 cents to $65.37 a barrel in midmorning Asian electronic trading on the New York Mercantile Exchange.
U.S also noticed decline in the prices, which fell 75...
President Hugo Chavez has been vigorously boosting his ambitious plans to produce ethanol as the eco-fuel of choice in recent times. However, it suddenly emerged as a major point of disagreement with Brazilian leader Luiz Inacio Lula da Silva. The...
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