Energy & Oil

Thursday, October 16th 2008 - 20:00 UTC
OPEC emergency meeting moved forward to October 24

The Organisation of Petroleum Exporting Countries, OPEC, has brought forward an emergency meeting to discuss the effect of the global financial crisis on oil markets. The announcement was made public when oil prices plunged below 67 USD the barrel.
Wednesday, October 15th 2008 - 20:00 UTC
Oil prices drops to 74.40 USD,lowest in over twelve months

Oil prices fell sharply on Wednesday as investors and officials said the global financial crisis could slash demand for energy. The price of crude oil for future delivery dropped more than 4 USD or more than 5%, to 74.50 USD a barrel during trading in New York.
Sunday, October 12th 2008 - 20:00 UTC
Ship breaks in two on Gibraltar rocks; crew rescued safely

The 35.000 tonnes Liberian cargo ship, built in 1977 Fedra lies in two pieces adjacent to the Lighthouse at Europa Point, Gibraltar.
Sunday, October 12th 2008 - 20:00 UTC
Chile in summer time, forwards clocks 60 minutes

Chile is in summer time with clocks having advanced sixty minutes during the weekend. This means that Chile's Dalylight Summer time is three hours behind Greenwish mean time.
Saturday, October 11th 2008 - 21:00 UTC
Price of crude has plunged 50% since July's peak

The price of crude oil has now plunged by almost 50% since striking record high levels above 147 US dollars per barrel on July 11. Trading on Friday was below 80 US dollars a barrel as demand declines amid a worsening economic outlook caused by a global credit crisis.
Wednesday, October 8th 2008 - 21:00 UTC
Oil below 90 USD prompts OPEC emergency meeting

OPEC is consulting on whether to hold an emergency meeting on November 18 to discuss the impact of the global financial crisis on the oil market, Libya's top oil official said on Wednesday.
Tuesday, October 7th 2008 - 21:00 UTC
FAO underscores “opportunities and risks” of bio-fuels

Global bio-fuel policies should be urgently reviewed to ensure that the world's poor benefit by ending trade-distorting subsidies favouring developed nations while countering the rise in food prices sparked by the diversion of foodstuff to energy production, according to a new United Nations report released today.
Monday, October 6th 2008 - 21:00 UTC
Mrs. Kirchner opens oil exploration in South Atlantic

Argentine president Cristina Fernandez de Kirchner officially marked on Monday the beginning of operations of a South Atlantic oil rig, the first to be fully financed by Argentine government and private investors.
Saturday, October 4th 2008 - 21:00 UTC
“Suitcase” airport official contradicts Antonini's version

A former Argentine airport officer who became a model and television star testified in a US court Friday about discovering a suitcase stuffed with nearly $800,000 in cash brought to a Buenos Aires airport from Venezuela.
Friday, October 3rd 2008 - 21:00 UTC
World oil demand at its lowest in 5 years; outlook bearish

The outlook for oil demand is weakening, shifting the sentiment of oil markets from bullish to bearish according to a report from the Saudi Arabia's Arab News daily.