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.
Continue reading "Downward Pressure On Oil Price"
Monday, April 6, 2009
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.
Continue reading "Oil Price Peaks And Slides"
Thursday, March 19, 2009
Cuba is holding talks regarding oil exploration and production deals with Russia, China and Angola, with Moscow shaping up as the partner that could make the communist island energy self-sufficient. Basic Industry Minister Manuel Marrero, said: The Cuban oil industry’s venturing out into deep sea waters in the Gulf of Mexico very likely will result [...]
Continue reading "Cuba negotiating oil exploration deal with Russia, China"
Monday, March 16, 2009
Iran’s Minister of Oil Gholam-Hossein Nozari signed a letter of understanding on energy cooperation with Russian Minister of Energy Sergei Shmatko, this Sunday evening. The two sides agreed to cooperate on exchanging crude oil. For full story, click here
Continue reading "Iran, Russia sign letter of understanding on energy cooperation"
Sunday, March 15, 2009
Russia, the world’s top independent exporter, came up with a list of measures to support oil prices, calling for lower output from all producers as part of the plan. Deputy Prime Minister Igor Sechin, stated: We are monitoring OPEC’s work and our companies will also participate in a cut. For full story, click here
Continue reading "Russia to support OPEC’s plans"
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
Tuesday, December 16, 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
Friday, November 28, 2008
An export duty on oil of $192.1 per tonne will become effective in Russia from December 1, 2008. For full story, click here
Continue reading "Gov’t announces oil export duty for December"
Wednesday, November 26, 2008
In a boost to ONGC Videsh’s bid to buyout Imperial Energy, Russia said it will not set any pre-condition like a stake for its state-run firms in exchange for giving approval to the acquisition. For full story, click here
Continue reading "Russia sets no terms on OVL’s Imperial buy"
Wednesday, November 26, 2008
In a boost to ONGC Videsh’s bid to buyout Imperial Energy, Russia said it will not set any pre-condition like a stake for its state-run firms in exchange for giving approval to the acquisition. For full story, click here
Continue reading "Russia sets no terms on OVL’s Imperial buy"
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Friday, April 17, 2009