Energy & Oil

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.
Thursday, October 18th 2007 - 20:00 UTC
Increased Bolivian gas exports to Argentina in doubt

Bolivia may delay ramping up natural gas exports to Argentina by a year while it increases production to meet its contractual commitments, the country's energy minister announced this week.
Thursday, October 18th 2007 - 20:00 UTC
PetroChina becomes world's second largest company

China's main oil coporation, government owned PetroChina Co. Ltd. shot past giant General Electric Co. to become the world's second-largest company. After its stock rose 13% on hopes of big new oil discoveries, the company's market value reached more than 430 billion US dollars, second only to Exxon Mobil Corp.'s 518 billion.
Wednesday, October 17th 2007 - 20:00 UTC
OPEC blames oil record prices on market speculation

As oil prices hit new records the cartel of oil exporting countries promised Tuesday to respond to any supply disruption but also expressed concern about the rising prices which it attributes largely to “market speculations”.
Tuesday, October 16th 2007 - 20:00 UTC
Turkey and weak dollar push oil prices to new record high

Crude oil traded on Monday in New York above 86 US dollars a barrel on concern oil shipments may be disrupted if Turkish forces pursue Kurdish militants in Iraq.
Tuesday, October 16th 2007 - 20:00 UTC
Ecuador claims “windfall” earnings from oil industry

Ecuador told foreign oil companies on Monday they had two weeks to pay the government 317 million US dollars in what the government says are unpaid debts from a windfall royalty approved in 2006.
Monday, October 15th 2007 - 20:00 UTC
Falklands: Visiting operators optimistic about oil

“THERE is good potential to find significant volumes of oil and gas in the Falkland Islands.” That's the optimistic message from oil industry representatives who were in the Islands last week for a series of meetings with the government, private sector and military.
Monday, October 15th 2007 - 20:00 UTC
US Gulf of Mexico oil tracts bids bring in 2.9 billion

The United States Department of the Interior's Minerals Management Service recent central Gulf of Mexico lease sale received 1,428 bids on 723 tracts, attracting 2.9 billion US dollars in high bids – the second highest total in U.S. leasing history.
Sunday, October 14th 2007 - 20:00 UTC
Correa announced Ecuador returns to OPEC next month

Ecuador is to rejoin the Organisation of the Petroleum Exporting Countries, OPEC, next month after a 15-year absence, announced on Saturday President Rafael Correa during his weekly radio program. The move reflects the increased state control over energy being taken by President Correa as promised during his electoral campaign.