Venezuela’s proven oil reserves reached 211 billion barrels, an increase of 22.5 percent between 2008 and 2009. This positive achievement for Venezuela was registered in the Annual Statistical Bulletin of the Organization of Oil Exporting Countries (OPEC).
The BBC’s Madeleine Morris says it may take days to complete the operation Underwater robots have successfully removed a leaking cap on BP’s blown-out Gulf of Mexico oil well, the first stage in fitting a tighter cap.
Shares of embattled British energy giant BP Plc. surged, Wednesday, amid news that its chief executive has gone to oil-rich Middle-East sovereign state of Abu Dhabi to meet potential cornerstone investors. A successful deal would give BP the much needed cash boost and help it fend off hostile takeover bids from rivals.
Oil prices edged up Wednesday after the government said crude inventories fell and refineries boosted production.
Soybeans and corn rose in Chicago as gains by crude-oil futures boosted the appeal of crops processed to make biofuels.
Oil major BP is seeking a strategic investor to secure its independence in the face of any takeover attempts as it struggles with a devastating oil leak in the Gulf of Mexico, newspapers said yesterday.
China has signed a deal to build an eight-billion-dollar refinery in Nigeria, a government official said on Tuesday, in a fresh example of Beijing’s aggressive investment in Africa.
Iran, the Organization of Petroleum Producing Countries’ second largest oil exporter, has discovered two new natural gas fields, Oil Minister Masoud Mirkazemi announced Monday.
World markets retreated Wednesday, with investors losing their appetite for stocks after a disappointing U.S. services report pointed to an anemic recovery in the world’s largest economy.
Oil major BP Plc is seeking a strategic investor to secure its independence in the face of any takeover attempts as it struggles with a devastating oil leak in the Gulf of Mexico, newspapers said on Sunday.
