Total declared that it was storing crude oil on land and estimated 100 million barrels of crude were held in floating vessels around the world. Jean-Jacques Mosconi, head of strategy and planning at Total, stated: In terms of vessels I think you have 100 million barrels of crude. For full story, click here
Fairborne Energy Ltd. declared that it will be presenting at the CIBC World Markets 2009 Energy Conference taking place April 20-21, 2009 in Toronto at the Le Meridien King Edward Hotel. Mr. Steven VanSickle, President and Chief Executive Officer, is scheduled to present at 4:35PM EDT on Monday, April 20, 2009. For full story, click [...]
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.
The oil price collapse has weakened the industry’s capacity to increase output and future production may top out at a lower level than earlier expected, the chief executive of major oil company Total said. For full story, click here
Volatile oil prices may be in for further soars in the future, and analysts are now suggesting the pricing system of oil in China be reformed. Dong Xiucheng, professor & oil expert at China Petroleum University, said: The global economic slowdown caused by the financial crisis has greatly cut oil demand worldwide. The trend will continue for a certain [...]
There are enough stockpiles of oil around the world that could see us through any foreseeable calamities on the world market. For more information, click here
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