IEA Raises 2010 Oil Demand Estimate on Recovery, Asia
The International Energy Agency raised its forecast for global oil demand this year as developing countries need more crude to fuel their economies.
World Oil & Gas news
Oil eases to above $73 on U.S. crude stockbuild
Oil hovered above $73 a barrel on Wednesday, giving up some of the previous day’s gains after data showed a large build in U.S. crude stocks, signalling persistently weak demand in the world’s top energy consumer.
Iran claims new gas, oil fields
Iran’s oil minister announced on Saturday the discoveries of an oil field and a gas field, estimating the total value of their reserves at $85 billion, a semi-official news agency reported.
Shell says profits decrease from 26.28 billion $ in 2008 to 12.52 billion in 2009
Energy giant Royal Dutch Shell reported a plunge in annual profits on Thursday, blaming a weak global economy and an uncertain outlook as it axed 1,000 jobs and earmarked more assets for disposal.
BP Says Unconventional Gas Is a U.S. ‘Game-Changer’
BP Plc Chief Executive Officer Tony Hayward said that unconventional gas will transform energy production in the U.S.
PetroChina is world’s biggest energy company, PFC Energy says
Chinese state company PetroChina has knocked US company ExxonMobil from the top spot to become the world’s biggest energy company in 2009 in a list of 50 companies published each year by US consultancy PFC Energy.
Oil prices drop after spike above 83 dollars
New York’s main futures contract, light sweet crude for February delivery, shed 32 cents to 82.86 dollars a barrel and was on course to end lower for the first time in 10 sessions.
Oil rises to near $82 a barrel in Asia amid surging stock markets, colder weather
Oil rose to near $82 a barrel Tuesday after a jump in U.S. stock markets boosted investor confidence and helped extend a four-week rally in crude prices.
For the 1st time in Syria…… to extend the line to export oil under the bottom of the Euphrates River
oil company, a joint venture between the SPC and Total E&P Syrie , has finished the first phase of a project of replacing part of the main export route along the 17 kilometers of which 450 meters beneath the Euphrates River depth as a precaution to prevent leakage of oil due to the presence of erosion and damage to the old line .
Oil near $80, on track for strong gain
Oil rose towards $80 on Thursday, extending its rally to a seventh day and poised for the best annual gain in a decade, driven by a drop in US crude and fuel stocks as icy weather stoked demand.
