Last month news reports out of China surfaced that the nation might see its natural gas supply fail to meet 35 percent of the demand in 2011, and the shortage could persist through 2021.
Articles Tagged "investment"
Even as investors are mulling mixed signals over crude supply numbers from the Energy Information Administration, there are clear indications that the Gulf state leaders have no plans to stop pricing oil in dollars. The rumour had traders hitting the panic button.
Iraq, holder of the world’s third- leading crude oil reserves, needs more than $50 billion of investments in the country’s petroleum industry in the next five to six years, Oil Minister Hussain al-Shahristani said. For full story, click here
Royal Dutch Shell Plc., Europe’s leading oil producer, is confident Brazil will establish rules that will attract exploration and production investments to the country’s so-called pre-salt area. For full story, click here
The board of Oil and Natural Gas Corp. Ltd is likely to give its final approval Saturday to the revised investment in developing Cairn India Ltd-operated RJ-ON-90/1 Block in Rajasthan. 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.
Recent dismal economic data and growing U.S. inventories kept oil prices below $50 a barrel Friday despite hopes of a possible second-half recovery in crude demand. Benchmark crude for May delivery fell 40 cents to $49.58 a barrel by Noon in European electronic trading on the New York Mercantile Exchange. The contract on Thursday rose 73 cents to settle at $49.98.
Oil prices vaulted 9 per cent in NY Thursday, in tandem with a powerful stocks rally, as investors cheered G20 agreements to combat the global downturn and an easing of US accounting rules. On Friday, oil prices settled above $52 a barrel, slightly lower on the day after a report that US unemployment in March soared to a 25-year high. But optimism that the economy will soon turn around curtailed losses.
Peru will take bids for oil and natural-gas exploration blocks in July as part of the Andean nation’s biggest drive for energy investment announced the head of Perupetro, the state oil-contracting agency. Perupetro President Daniel Saba stated: These are practically Peru’s last available exploration areas. For full story, click here
It was a stock that people loved to hate. During the first half of 2008, investors cringed when they saw rallies in the price of oil. As crude surged to $150 a barrel last year, equity investors bemoaned the hit, and worried and gossiped about the outlook for consumer-oriented firms which would need to spend more on gas. Then the tide turned.