Oil Surged 76 Cents to at $90.66 a Barrel
Bloomberg reported that oil surged 76 cents over disagreements on Iran's nuclear program.
Oil Market News Directory
Oil Surged 75 Cents to $90.65 a Barrel
Bloomberg reported that oil surged 75 cents to $90.65 a barrel.
Oil Dropped 16 Cents to $91.69 a Barrel
Bloomberg reported that oil dropped 16 cents after Iran decided to let in United Nations nuclear inspectors.
Australian Oil Production on a Large Scale Unlikely to Happen Soon
Bloomberg reported that large-scale oil and gas production in Australia likely will not happen for up to a decade unless companies focus on higher-priced oil and liquids.
Tullow CEO Says Kenya May Have Greater Oil Potential Than Uganda
Bloomberg reported that Aidan Heavey, CEO of Tullow Oil plc (LSE:TLW), believes Kenya may have more oil potential than Uganda, although as yet Kenya has no proven reserves.
Ugandan Oil Boom Approaching
Bloomberg reported that according to Patrick Bitature, Chairman of the Uganda Investment Authority, Uganda licensed 62 investment projects during the first quarter of 2012. Oil is one of the sectors that received the highest value of planned investment.
India Plans to Reduce Oil Imports from Islamic Republic
The Wall Street Journal reported that India's junior oil minister has said that the country plans to reduce oil imports from the Islamic Republic by eleven percent this fiscal year.
Australia Suggests Oil and Gas Exploration Locations
Bloomberg reported that the Australian government has put forward 27 areas that could be explored for oil and gas. The locations suggested are off the coasts of the Northern Territory, Western and South Australia, and Victoria and Tasmania.
Somali Pirates Capture Oil Tanker
Reuters reported that a Greek-owned oil tanker was hijacked by Somali pirates while in the Arabian Sea, and is now heading to Somalia. It has nearly a million barrels of oil on board and had been heading to Turkey.
OPEC Increases Oil Production by 320,000 b/d in April
Platts reported that the Organization of the Petroleum Exporting Countries (OPEC) increased its production of crude oil by 320,000 barrels per day in April, bringing the monthly total to 31.71 million barrels per day.
