Energy & Oil

Friday, July 11th 2008 - 21:00 UTC
Iran, Nigeria fears rebound oil prices 5 USD in one day

Oil prices rebounded by more than 5 US dollars a barrel on Thursday as another missile launch by Iran stoked worries that escalating political tensions in the Middle East could cut off supplies out of the region.
Friday, July 11th 2008 - 21:00 UTC
OPEC oil earnings expected to reach 1.25 trillion USD

The Organization of Petroleum Exporting Countries earnings from oil exports are expected to reach a record 1.251 trillion US dollars this year, about 73 billion more than previously estimated, according to the US Energy Information Administration.
Friday, July 11th 2008 - 21:00 UTC
Brazil's Petrobras rig workers begin strike next Monday

Workers from Brazil's government managed oil corporation Petrobras confirmed on Friday they will begin a five-day strike at the country's main fields in the off shore Campos basin on Monday, regardless of whether the company presents a proposal before then.
Saturday, July 5th 2008 - 21:00 UTC
Petrobras sets during June new oil production record

Brazil's government managed oil and gas corporation Petrobras set a new monthly oil production record in Brazil in June: 1,867,000 barrels per day (bpd). This was 12,600 bpd higher than the previous record from last December with 1,855,000 bpd.
Thursday, July 3rd 2008 - 21:00 UTC
Rockhopper reports losses but insists in 2009 drilling

Oil and gas explorer Rockhopper Exploration Plc. reported a wider full-year pretax loss and said its target is to drill between two and four wells on its offshore acreages in the Falkland Islands.
Wednesday, July 2nd 2008 - 21:00 UTC
Saudi king: oil price cheap compared to alternative energy

Saudi Arabia King Abdullah said on Tuesday that the current oil price was cheap compared to prices of alternative energy products available in the world and called upon people in consuming countries to adapt with rising oil prices.
Wednesday, July 2nd 2008 - 21:00 UTC
World in grip of third “oil shock” and no easy way out

Oil supplies will remain tight despite record prices that have reduced demand and the world is in the grip of its third “oil shock”, according to the International Energy Agency report released this Tuesday in Madrid.
Tuesday, July 1st 2008 - 21:00 UTC
Oil corporations blame high prices on taxes and restrictions

The chief executives of Royal Dutch Shell Plc, BP Plc and Spain's Repsol YPF told the oil industry's biggest gathering in three years, in Spain that restrictions on where they can invest and high taxes meant they could not help boost supplies as much as they might.
Monday, June 30th 2008 - 21:00 UTC
Mercosur: Brazil plans to address food crisis and social affairs

The global food crisis and strengthening the regional social agenda are the two main issues which Brazilian president Lula da Silva will address during the next six months when his country holds the rotating chair of Mercosur.
Saturday, June 28th 2008 - 21:00 UTC
Crude record prices send global stock markets tumbling

Global stock markets have suffered a sell-off sparked by concerns about the global economy and crude oil prices which have hit a new record. New York's Dow Jones closed down 0.93%, or 106.9 points, at 11,346.51 as the cost of oil rose to a fresh high above $142 a barrel.