OPEC Presses Non-OPEC for More Oil
OPEC said on Wednesday it will ask producers outside the cartel to raise output to help cool high prices, but got a quick reply from Russia saying it had no slack in its system to boost exports.
Oil
India: Petroleum, coal price hikes to hit many sectors
The first major economic decision by the government is expected to hit many industry segments, leading to an across-the-board rise in prices of various goods. The steep hike in petroleum and coal prices on Tuesday will negatively hit companies — especially the automobiles, steel and cement sectors.
How Long Can We Hang On to our Impossible Lifestyle?
in the United States–we have before us an utterly unsustainable process. For every calorie you consume, ten calories of fossil fuel go up in smoke.
Oil and consumers widen US trade deficit
AMERICA’S trade deficit widened unexpectedly in April to a record US$48.3 billion (£26.7bn), as strong consumer demand and the highest oil prices in 21 years pushed imports to unprecedented levels. The monthly trade gap was well above Wall Street forecasts of $45bn (£24.8bn).
Get Ready for $50US Oil!!
Many geologists believe we are in for a period of significantly higher oil prices, while nearly all economists and the analyst community predict oil prices will fall. Who do you believe?
Angola’s Elusive Oil Riches
Last month, the Angolan government did something startling: it announced that an oil deal signed with ChevronTexaco would bring the country $300 million.
IMF calls for alternative oil initiative
Financial globalisation has raised the risks of contagion, or the knock-on effects through which one country’s vulnerabilities can spread through the global economic system.
Halliburton faces probe by US regulators
US regulators had formalised an investigation of whether a joint venture including Halliburton, the world’s biggest oilfield contractor, violated anti-bribery legislation to win orders for work on a Nigerian gas plant, the company said at the weekend.
Analysis: Is Saudi oil in peril?
Islamist terrorists targeting Westerners in Saudi Arabia continues to raise security concerns despite assurances from authorities that the situation has not reached “crisis levels,” as the kingdom’s Islamic Affairs minister claims.
BP defends oil reserve estimate method
BP PLC on Monday defended its method of estimating oil and gas reserves, and said that its figures would not show a “material” change when it recalculates them for submission to regulators in the United States.
Asia seeks dialogue with Opec
Asian economies want talks with Opec as part of a strategy to improve regional energy security and combat rising oil demand and high prices, officials from the Asian Pacific Economic Cooperation (Apec) group said yesterday.
Security of oil tankers fuels worry
It is far from clear, experts say, whether the existing fleet can handle the new production that Saudi Arabia and others have promised in coming months.
