Articles Tagged "production"

Q3: Record Output at Breaker Energy

Breaker Energy Ltd. posts its financial and operating results for the quarter ended September 30, 2008. For full story, click here For company’s website, click here    

Benchmark: Things fall apart?

Along with OPEC production cuts and healthy company numbers, (both discussed below) the market is clearly disjointed. The tenor of discussions in the business pages and networks lately suggests that Yeats was right, and the centre cannot hold. Recession or recovery, echo boom or bust, few are predicting prolonged instability somewhere between these extremes.

Oil falls 3 percent to 17-month low

Oil fell more than 3 percent to another 17-month low on Monday, extending deep losses amid increasing doubts over whether world governments can tame a crisis that threatens towards global recession. David Moore, a commodities strategist at the Commonwealth Bank of Australia, said: I think OPEC has actually taken a fairly decisive step to cut production but [...]

Oil declines, OPEC Cut Won’t Be Enough

Crude oil declined, heading for its 4th weekly fall, as OPEC’s decision to cut output by 1.5 million barrels a day failed to ease concerns fuel demand will slump. Mike Wittner, head of oil-market research at Societe Generale SA, said: The market expected a cut of 1 to 1.5 million barrels a day, and it got [...]

OPEC Risks Split on Poduction Cuts as Economies Reel, Oil falls

OPEC members plan to slash production and raise prices just as developed nations face their worst recession since 1983. Algerian minister and OPEC president, Chakib Khelil, said: There is a consensus to reduce production, but there is no agreement on how much to cut. Reduction at the group’s Oct. 24 meeting in Vienna may be only [...]

Crude Oil hovered around $69

Crude Oil hovered around $69 per barrel as worries are mounting that production cut by OPEC will not be enough to offset weakening energy demand in leading consumers. For full story, click here

Galoc oil field’s 1st crude cargo seen by November

Australian oil & gas explorer Otto Energy Limited said that the production of 20,000 barrels per day will be established in the Galoc oil field in Palawan by November. Otto’s statement said: While the well test data is still being analysed, overall performance is consistent with expectations and a steady state production of 18,000- 20,000 barrels [...]