Archive for the ‘OPEC’ Category
Sunday, September 14th, 2008
The most prominent militant group in oil-rich southern Nigeria on Sunday said it had declared an "oil war" and threatened all international industry vessels that approach the region.
The Movement for the Emancipation of the Niger Delta (MEND) said in an email to the media it has code-named its operation Hurricane ...
Posted in Exploration, Mining, Mining Contractor, Mining Investment, Mining Technology, OPEC | No Comments »
Sunday, September 14th, 2008
So how do oil prices fall but gasoline prices rise in many parts of the country?
One explanation offered: with 15 refineries that consume nearly 4 million barrels a day shut down, there is less demand for oil. Less demand means that prices drop.
That, combined with the belief that oil ...
Posted in Exploration, General News, Mining, OPEC, Oil & Gas, Oil Price, Trade & Market | No Comments »
Thursday, August 7th, 2008
State oil and gas company Pertamina plans to increase its crude oil imports from Lybia to 1 million barrels a month or 33,000 barrels a day, its processing director said.
Pertamina will soon sign a long-term contract with Lybia for the supply of crude oil of Sharir type, Rukmi Hadihartini said ...
Posted in General News, Mining Contractor, Mining Finance, Mining Investment, OPEC, Oil Price, Trade & Market | No Comments »
Wednesday, July 16th, 2008
OIL prices rocketed to record highs above 147 per barrel on Friday as traders seized on the weak US currency and tensions over Iran and Nigeria at the end of a volatile trading week.
London’s Brent North Sea oil for August delivery jumped as high as 147.50 to beat the previous ...
Posted in Mining Finance, Mining Investment, OPEC, Oil Price, Trade & Market | No Comments »
Wednesday, July 16th, 2008
Ethanol is on the ropes because of the food versus fuel debate, but now a new heavyweight just stepped into the ring and this one has got some really big guns.
OPEC president Chakib Khelil has a new culprit for the rising cost of oil–ethanol. Mr. Khelil says about 40% of ...
Posted in Mining Finance, Mining Investment, OPEC, Oil Price, Trade & Market | No Comments »
Wednesday, July 16th, 2008
U.S. stocks jumped on Wednesday after strong results at Wells Fargo fueled a powerful rally in the battered banking sector and an unexpected leap in U.S. crude supplies led oil prices to fall sharply.
Equity markets in Europe also ended higher as a weaker euro underpinned automotive stocks and Wells Fargo ...
Posted in Mining Finance, Mining Investment, OPEC, Oil Price, Trade & Market | No Comments »
Wednesday, July 16th, 2008
Wow, a lot of people must have bought Hummers last week. How else to explain the spike in oil prices? No, I'm not being silly: They are, and by they I mean the gaggle of media pundits and other administration apologists -- abetted by some green zealots -- who want ...
Posted in Mining Finance, Mining Investment, OPEC, Oil Price, Trade & Market | No Comments »
Wednesday, July 16th, 2008
Oil prices plunged four dollars on Wednesday, extending this week's spectacular losses after a surprise jump in crude reserves in the United States, traders said.
Prices had already tumbled Tuesday in the biggest fall in 17 years amid rising concerns about sluggish US economic growth that could dampen global demand for ...
Posted in Mining Finance, Mining Investment, OPEC, Oil Price | No Comments »
Wednesday, July 9th, 2008
Surely by now Congress has figured out who is running up the price of oil to unreasonable prices. It's not demand in China or India. It's the futures market in our own country, which is broken and needs fixing.
Big oil companies and the OPEC oil countries are getting richer because ...
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Wednesday, July 9th, 2008
Credit jitters swept Wall Street again on Wednesday and pushed a key market index back into bear territory as financial shares tumbled and the appeal of safe-haven government debt took a shine.
Oil pulled out of a steep two-day slide to end little changed after a U.S. government report showed a ...
Posted in Mining Finance, Mining Investment, OPEC, Trade & Market | No Comments »
