Middle East crude oils surged on expectations of better refining profits after Saudi Arabia reduced its official selling prices. For full story, click here
Continue reading "Middle East Crude Surged as Saudi Aramco Cuts Official Asia Prices"
Sunday, July 12, 2009
Saudi Arabia, the world’s top crude exporter, will keep curbs on contracted volumes of crude oil in August largely unchanged from July levels to two north Asian term purchasers. For full story, click here
Continue reading "Saudi Arabia will keep August Asia Crude Curbs Mostly Steady"
Thursday, July 9, 2009
Saudi Arabia, the world’s top crude exporter, will keep curbs on contracted volumes of crude oil in August largely unchanged from July levels to two north Asian term purchasers. For full story, click here
Continue reading "Saudi Arabia will keep August Asia Crude Curbs mostly steady"
Monday, June 22, 2009
OPEC president Angola declared that the group’s goal was still to achieve $75 a barrel by the end of the year, echoing earlier comment by leading exporter Saudi Arabia that the level was achievable without damaging a fragile world economy. For full story, click here
Continue reading "OPEC President said goal is still for $75 oil"
Thursday, June 11, 2009
State-run PetroVietnam wants closer cooperation with oil-rich Saudi Arabia in exploration and refinery development. PetroVietnam director general Tran Ngoc Canh stated: We hope to get the opportunity to take part in exploring and exploiting oil and gas in Saudi Arabia, especially with the establishment of a joint venture with Saudi Aramco. For full story, click [...]
Continue reading "PetroVietnam is seeking closer ties with Saudi"
Thursday, May 28, 2009
Saudi Arabia warned the world that oil prices could spike to beyond the near USD 150 record high of 2008 within 2 to 3 years as energy leaders recently decried a blow to energy investment because of the financial crisis. For full story, click here
Continue reading "Saudi Oil Minister will see another spike coming"
Monday, March 23, 2009
The market in Toronto jumped significantly, in part due to the merger announcement between Suncorp (TSE:SU) and Petro-Canada (TSE:PCA). Petro-Canada was up 20 per cent at the end of the day and many of the other Canadian oil patch companies rose along with it. EnCana (TSE:ECA), Canadian Natural Resources (TSE:CNQ) and Talisman Energy (TSE:TLM) all closed up significantly.
Continue reading "Canadian Merger as Crude breaches $51 per barrel"
Friday, March 13, 2009
Saudi Aramco announced that the company has contracted J. Ray McDermott SA to fabricate and install facilities for South Safaniya oil field, the largest offshore reservoir it has discovered. The value of the work was not disclosed. For full story, click here
Continue reading "Safinya oil work rewarded by Saudi Aramco"
Wednesday, March 11, 2009
State oil giant Saudi Aramco announced that it had completed drilling on the largest new field in its plan to raise crude capacity to 12.5 million barrels per day by the end of this year. For full story, click here
Continue reading "Saudi Aramco reported completion of oilfield drilling project"
Tuesday, March 10, 2009
Oil rose towards $46 on Wednesday on firm stocks and ahead of inventory data, after a near 3 percent fall the previous day, when a forecast revised down oil demand and Saudi Arabia opted not to deepen supply curbs. Ryuichi Sato, an analyst at Tokyo-based Mizuho Corporate Bank, said: If OPEC decides on further cuts, [...]
Continue reading "Oil moved up towards $46 on equities"
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Saturday, August 8, 2009