OPEC Oil, Natural Gas Income has topped $1trillion, reserves surge
OPEC’s income from oil and gas exports jumped 35 percent to more than $1 trillion last year as world oil prices hit record highs of almost $150 per barrel. For full story, click here
Articles Tagged "record"
Petrobras production facilities boost output to record level
Brazil’s crude oil major Petrobras, due to additional output from new production facilities, reported that it touched a company production record of 2,012,654 b/d on Mar. 4, surpassing by 12,420 b/d its previous high mark set on Dec. 25, 2007. For full story, click here
Oil fell below $34
Oil fell below $34 on Friday to its lowest level in almost five years as the global economic slowdown overshadowed OPEC’s record supply cuts. For full story, click here
Oil Demand likely to fall for first time in 40 years
Crude oil prices may decline as low as $US40 a barrel in coming months as the global recession worsens and household demand weakens. For full story, 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.
Shell profits jump to £5bn on record crude prices
Dutch company Shell has posted a jump in its Q3 profits to $8.45bn (£5bn) as crude oil prices increased to a record high. For full story, click here For company’s website, click here
Benchmark: Troubled waters
Another rough day for investors this Monday. As it became clear that the American House of Representatives would reject the authorization law for the executive’s $700 billion financial sector bailout plan, commodities began to tank. Oil futures shed more than $10 of their value during the day, dropping to $96.37 per barrel.
Tullow’s H1 profit jumps to Record on Crude Prices
Tullow Oil Plc reported that the first-half profit jumped to a record amid surging crude prices. For more information, click here For company’s website, click here
