Oil briefly topped $50 a barrel, boosted partly by expectations OPEC will agree on a deep supply cut this week to try to prop up prices. For full story, click here
Read the full article: "Oil briefly rises above $50 ahead of OPEC"
Tuesday, December 30, 2008
Reliance Industries has shut crude oil production from its Krishna Godavari basin D6 fields after a pipe rupture. For full story, click here
Read the full article: "RIL shuts oil production from KG-basin after..."
Tuesday, December 30, 2008
Oil steadied below $45 on Tuesday, bolstered by expectations that OPEC will agree its largest supply cut ever, after dropping 4 percent the previous day on persistent worries of a deepening economic slump. For full story, click here
Read the full article: "Oil steady below $45 ahead of expected OPEC..."
Monday, December 29, 2008
Russia’s top oil producer, Rosneft, will not buy a stake in Imperial Energy, which India’s state-run ONGC is acquiring, Indian government and ONGC sources said. For full story, click here
Read the full article: "Rosneft not to buy stake in Imperial-Report"
Monday, December 29, 2008
OPEC should cut oil output by “much more” than 1 million barrels per day as inventories were very high, OPEC President Chakib Khelil said. For full story, click here
Read the full article: "OPEC president wants ‘much more’..."
Monday, December 29, 2008
Chakib Khelil, the President of Organisation of Oil Exporting Countries (OPEC) has expressed the hope that Russia would join the oil cartel to boost its impact on the crude market. For full story, click here
Read the full article: "OPEC’s President invites Russia to cut..."
Friday, December 26, 2008
State-run Indian Oil Corp is planning to buy a sugar mill and set up a refinery in Brazil to produce ethanol. For full story, click here
Read the full article: "IOC plans to buy sugar mill in Brazil"
Friday, December 26, 2008
Oil prices were steady above $44 a barrel in Asia on Tuesday, a day before investors expect OPEC to announce a big production cut. For full story, click here
Read the full article: "Oil steady at $44 ahead of OPEC meeting"
Thursday, December 25, 2008
The oil and gas industry in Texas continues to expand at a brisk pace. The Texas Petro Index, which is a compilation of economic indicators in the oil and gas industry, was 279.6, setting another record. For full story, click here
Read the full article: "Oil industry in Texas continues to expand"
Thursday, December 25, 2008
There have been unofficial reports of independent oil and gas exploration companies deferring some of their drilling programs, but the most recent economic indicators still show optimism in the industry. For full story, click here
Read the full article: "Independent oil and gas exploration cos..."
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Wednesday, December 31, 2008