Saudi Arabia produced 9.15 million b/d in February and supplied 9.16 million b/d to markets as output fell by 100,000 b/d over January, but the OPEC kingpin is likely to raise production in the coming months as demand picks up, a Gulf ...
Tags: Oil market, Oil, oil prices
Gas for day-ahead delivery continued to fall Wednesday from Monday's seven-year high following a return to operations of the Norwegian Nyhamna processing terminal and strong imports, which saw the system well supplied with little reliance ...
Tags: UK, Gas, gas industry
Venezuelan President Hugo Chavez died Tuesday in Caracas after an almost two-year battle with cancer and 14 years of a dominating socialist presidency that leaves the country with the world's largest oil reserves mired in uncertainty. The ...
Speaking at the SteelOrbis Spring 2013 Conference & 68th IREPAS Meeting taking place on March 3-5 in Doha, Adel Al-Mughram, senior marketing manager at Saudi Arabian company SABIC, underlined that oil is critical of Saudi Arabia and crude ...
Crude exports from OPEC kingpin Saudi Arabia fell to 7.062 million b/d in December last year, the lowest level since September 2011 when exports averaged 6.813 million b/d, data from the Joint Organizations Data Initiative, or JODI, show. ...
Tags: Crude exports, crude production, crude
Iran has floated a proposal to constitute a forum of petrochemical exporting countries, and the Iranian Government is now pursuing talks on the issue with several nations, including neighbouring countries, National Petrochemical Company ...
Tags: Iran, petrochemical exporting, NPC
BP announced its financial results for the fourth quarter and full year of 2012. Underlying replacement cost profit, adjusted for non-operating items and fair value accounting effects, was $4.0 billion for the fourth quarter, compared to ...
Tags: BP, financial results, fourth quarter
OPEC Secretary General Abdalla el-Badri said Monday that world oil markets were well balanced and likely to remain well supplied through the current year to meet expected growth in demand, but that the oil producer group did not envisage a ...
Tags: OPEC, world oil markets, oil prices
Reuters reports that Iraq has sweetened the terms for oil contract buyers and is becoming more competitive on pricing. Oil Minister Abdul Kareem Luaibi [Elaibi], who met customers in Vienna last month on the sidelines of the OPEC meeting, ...
In a recent report,US based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years,as this factor is among the most important ones when it comes to ship owning operating costs. ...
Tags: average bunker prices, Arts, Crafts, Mcquilling Services
Reuters cited Mr Abdul Kareem Luaibi Oil Minister of Iraq as saying that Iraq's oil production has exceeded 3.2 million barrels a day so far this month and it hopes to hit capacity of 4 million barrel per day in 2014. Mr Luaibi said ...
Tags: Iraq, oil, oil production, OPEC
“The most valuable commodity I know of is information.” (Gordon Gecko in “Wall Street” by Oliver Stone) Commodities have experienced a renaissance after the bursting of the internet bubble at the end of the ...
Tags: Commodities, Metallurgy, Mineral
While analysts are generally in consensus in forecasting Brent crude to average around $110/b in 2013, the surge in North American production and question marks on the timing of new infrastructure has made for a highly divergent set of ...
Tags: Brent crude, crude oil prices, crude oil market, Brent
Reuters cited oil ministry and industry sources as saying that oil major BP is close to reaching a deal with Iraq to cut the final production target for the supergiant Rumaila oilfield to between 1.8 million and 2.2 million barrels per day. ...
Tags: BP, deal, Iraq, output target
IRNA cited Mr Rostam Qasemi oil minister of Iran as saying that Iran has not withdrawn its candidacy for the post of OPEC secretary general in favor of any country. It is not true that Iran has withdrawn its candidacy for the OPEC's ...
Tags: oil, oil producers, OPEC, oil production