Tag: oil

• Wednesday, September 28th 2016 - 12:26 UTC

  Iran-Saudi Arabia can't agree on limiting oil supply: “maybe in November”

  

  Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find a compromise this week to help ease a global glut of crude.

• Tuesday, September 6th 2016 - 19:36 UTC

  Cuba looking for new oil supplier and begins implementing social security tax

  

  President Raul Castro has asked Russia to consider beginning to supply Cuba with oil. Before the Soviet Union’s disintegration in 1991, the ex URSS was Cuba’s main supplier under favorable trade terms. Russia's official news network revealed the news, allegedly in a direct request from Castro to president Vladimir Putin.

• Wednesday, February 25th 2015 - 16:41 UTC

  The easy oil is gone so where do we look now?

  

  In 2008, Canadian economist Jeff Rubin stunned the oil market with a bold prediction: With the world economy growing at 5% a year, oil demand would grow with it, outpacing supply, thus lifting the oil price from $147 to over $200 a barrel.

• Wednesday, October 15th 2014 - 08:16 UTC

  Oil prices hit new lows with prospects of further slide; excess supply, weak demand

  

  Global oil prices have fallen further after the International Energy Agency (IEA) reported higher output and cut its forecast for demand growth. Brent crude fell 2.72 to 86.17 dollars a barrel before seeing a slight recovery, while US crude dropped 1.75 to 83.99.

• Thursday, February 7th 2013 - 21:44 UTC

  Argentina says Falklands’ issue “smells too much like petroleum

  

  Foreign Minister Héctor Timerman said on Thursday that the British government’s position on the Falklands/Malvinas Islands issue “smells too much like petroleum”, revealing that UK’s biggest interest in keeping the invaded archipelago is due to the potential oil findings.

• Wednesday, January 9th 2013 - 05:02 UTC

  Argentina rapidly changing oil/gas industry levies to attract foreign investment

  

  Argentina unveiled a new system of export duties on oil shipments that will cut levies as the government seeks to attract investment to revive stagnant production. The change means energy companies will receive 70 dollars per barrel of exported oil, up from 42 previously. Argentina controls the price of oil exports in order to guarantee domestic supply.

• Friday, August 31st 2012 - 04:08 UTC

  YPF tempting global oil industry heavyweights with ‘Vaca Muerta’ shale formation

  

  Exxon-Mobil Corp. and Apache Corp. will hold talks with Argentina's YPF next month to discuss further investments in the country's Vaca Muerta shale formation, said a YPF official briefed on the matter.

• Thursday, April 26th 2012 - 01:33 UTC

  Argentina warns Falklands’ oil companies of May 2 deadline when legal actions begin

  

  Argentina once again warned oil companies considered by the Government to be “illegally operating” in the Falklands/Malvinas Islands, and reiterated it will press charges against them unless they justify their actions before next Wednesday, May 2.

• Friday, March 16th 2012 - 19:05 UTC

  Falklands tells Argentina latest intimidation and bullying efforts are entirely counter-productive

  

  The elected government of the Falkland Islands said on Friday it regrets the latest attempt by the Argentine government to economically undermine the Islanders way of life, which is yet another example of intimidation and bullying towards a country of 3.000 people.

• Saturday, January 14th 2012 - 06:13 UTC

  Chevron, Repsol and Statoil to drill offshore Newfoundland and Labrador

  

  Chevron Canada Ltd., a big player in Canada's offshore oil industry, has struck a deal with Norwegian and Spanish oil companies to carry out exploration off the coast of Atlantic Canada.