Cuba has launched a bold policy of oil development that could turn the country into an important supplier of fuel in the Caribbean and the United States, should the embargo be lifted in the future. For full story, click here
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Indian energy giant Reliance Industries’ top upstream official stated that $60 a barrel is the “right” price for valuing potential oil exploration acquisitions as prices are expected to push up by 50 percent in coming few years. Atul Chandra, who is charged with driving Reliance’s upstream expansion, stated: For the current scenario, $40 is a [...]
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