Energy & Oil

Friday, November 2nd 2007 - 20:00 UTC
For new IMF chief oil prices at such level “is no surprise”

The International Monetary Fund's new managing director, Dominique Strauss-Kahn, Friday said the U.S. dollar remains overvalued --repeating the IMF forecast for the greenback--. However he discarded a recession in the US and said “it's no surprise to see the price of oil at such a level”
Wednesday, October 31st 2007 - 20:00 UTC
Falklands: targets for exploratory oil drilling identified

Rockhopper Exploration plc announced that initial interpretation of the 3D seismic data collected over its licences PL032 and PL033 in the Falkland Islands has revealed large fans and structural closures which could form targets for the next round of drilling. The largest fans cover approximately 40sq km and are located near to the Shell well which recovered live oil.
Wednesday, October 31st 2007 - 20:00 UTC
Falklands' licensed oil company collects 3D seismic data

Borders & Southern Petroleum PLC announced this week it has started the acquisition of 3D seismic data across its South Falkland Basin acreage and that it expects to complete the data collection in the first quarter of 2008.
Tuesday, October 30th 2007 - 20:00 UTC
UN expert describes bio-fuels as “crime against humanity”

A United Nations expert has condemned the growing use of crops to produce bio-fuels as a replacement for gasoline as a crime against humanity. The UN special rapporteur on the right to food, Jean Ziegler, said he feared bio-fuels would bring more hunger.
Saturday, October 27th 2007 - 20:00 UTC
US dollar plummets and soaring oil keeps breaking records

The US dollar tumbled to yet another new low against the Euro and oil prices rose to a record 92 US dollars per barrel on fears over supplies for the northern hemisphere winter months ahead.
Thursday, October 25th 2007 - 20:00 UTC
Storm kills oil workers in the Gulf of Mexico

Petroleos Mexicanos, Pemex, state-owned oil monopoly, said at least 10 workers were killed when an oil rig hit a drilling platform during a storm this week in the Gulf of Mexico, and 18 are still missing or in lifeboats.
Tuesday, October 23rd 2007 - 20:00 UTC
Ecuador returns to OPEC in search of experience and advice

Ecuadorian Energy Minister Galo Chiriboga said on Tuesday the Organization of Petroleum Exporting Countries (OPEC) had accepted Ecuador back as an active member following fifteen years of absence.
Monday, October 22nd 2007 - 20:00 UTC
China, seen as second largest consumer market by 2015

China is en route to become the world's second largest consumer market by 2015 following unprecedented growth several times faster than in developed countries during the last four decades, according to a report released by Boston Consulting Group.
Monday, October 22nd 2007 - 20:00 UTC
Standard Chartered Bk calls for Sovereign Funds code of practice

The influence of Sovereign Wealth Funds, SWF, on global financial markets is set to grow as the world economy shifts to emerging economies, and Western countries should seize the opportunity to find common ground rules and a code of practice, recommends a report on SWF from Standard Chartered Bank.
Saturday, October 20th 2007 - 20:00 UTC
Brazil has plans to search for oil in western Amazon

Plans to search for oil and natural gas in Brazil's remote western Amazon have raised concerns that one of the last untouched areas of the world's largest wilderness will be spoiled.