OPEC admits limited influence on int’l oil prices
VIENNA (Xinhua) -- The Organization of Petroleum Exporting Countries (OPEC), which supplies 40 percent of the world’s crude oil, admitted its limited influence on the price fluctuation trend in the international crude oil market.
In a report made at the National Defense Academy of Austrian Armed Forces in Vie...... [Show More]
ENERGY:
GAC opens new offices in Kazakhstan
(SRI) - GAC Group, the Dubai-based shipping and logistics company, has opened two new offices in Kazakhstan in an effort to strengthen its position in the Central Asian energy sector.
Zhaikmunai provides update on Kazakhstan operations
(OilVoice) - Revenues for the period from crude oil sales were US$ 44.9 million, up 41...... [Show More]
GAC opens new offices in Kazakhstan
(SRI) - GAC Group, the Dubai-based shipping and logistics company, has opened two new offices in Kazakhstan in an effort to strengthen its position in the Central Asian energy sector.
Zhaikmunai provides update on Kazakhstan operations
(OilVoice) - Revenues for the period from crude oil sales were US$ 44.9 million, up 41% compared t...... [Show More]
Saudis Talk $75 Oil; Market May Aim at $35 (David Bird, 12/02/08, Dow Jones Newswires)
Technical analysts at Barclays Capital in London said that with oil prices well below important resistance areas in the $56-$61 area, there would be "every incentive to assume that the trend would continue beyond the recent low at $48.25" and test the next technical support level near $39.2...... [Show More]
> Highway Patrol chief eyes job as U.S. marshal HELENA - Col. Paul Grimstad, chief of the Montana Highway Patrol, said Monday that he is interested in a job as Montana’s next U.S. marshal. Grimstad, who has headed the patrol for more than four years, joins three other people who have publicly expre …
> Baldwin schools boss fails to land Georgia superintendent job Baldwin ...... [Show More]
President-elect Barack Obama reaffirmed on Monday that he wants to withdraw US troops from Iraq within 16 months of his inauguration. That would be well before the December, 2011 deadline enshrined in the new security agreement between the two countries. The agreement stipulates that its details can be altered by mutual consent, or by one side giving one year’s notice. Obama, who is re...... [Show More]
I recently looked through news articles to see which energy sectors were being affected by the credit crisis. I was amazed at how widespread and how devastating the impact is.
There are really two closely related problems. One is reduced access to credit, making new borrowing difficult for nearly every business that requires debt. Prices for all commodities have been dropping as well. At least ...... [Show More]
ANALYSIS - Oil drop won’t ease Latin American resource nationalism soon
CARACAS (Reuters) - Latin American energy producers are unlikely to ease taxes on foreign oil companies in the near term, despite tumbling crude prices, in an attempt to keep government coffers full.
Leaders such as Venezuela’s Hugo Chavez — at the fore of a charge for resource nationalism duri...... [Show More]
Russia’s Comeuppance
Any international economic crisis afflicts different countries in different ways, but an unfortunate few experience every painful dimension of it. In the current crisis, Russia is confronting virtually all the negatives at once–sharply declining export earnings from energy and metals, over-leveraged corporate balance sheets and a chorus of bailout appeals, a credit...... [Show More]
Five-year U.S. crude oil futures at record $30 premium
LONDON (Reuters) - U.S. crude oil futures for delivery in January 2014 are trading at a record $30 premium to current contracts, as investors bet that the long-term trend toward higher prices will remain intact despite oil’s slump to $50 a barrel.
U.S. crude oil futures — the global benchmark for oil prices — ha...... [Show More]
The Oil Industry’s Future
HOUSTON, Texas (AP) -- Big Oil is set to spend billions on new exploration in 2009, but in addition to ocean beds thousands of feet below the water’s surface, major producers are surveying the balance sheets of vulnerable companies in the sector.
Major oil companies are sitting on enormous piles of cash after posting record profits in recent qu...... [Show More]
Credit crisis dims the lights for power industry
GREAT FALLS, Montana: As workers scramble to build an $800 million coal-fired power plant on a patch of farmland here, a crisis that began on faraway Wall Street threatens to stretch America’s power supplies to the brink — driving up prices and laying the stage for future shortages.
The power industry is under extraordinary financial p...... [Show More]
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