Oil prices drop to 54$ a barrel ..hits its lowest level in 22 months
Oil prices drop to about 54 $ a barrel today, Tuesday, to reach a new level last seen in 22 months, as a result of the pessimistic forecasts of the global economy.
World Oil & Gas news
International Energy expects oil prices to return to rise after 2008 to more than 100$
International Energy Agency expected the return of oil prices to rise for more than a hundred dollars a barrel with the recovery of the global economy, exceeding two hundred dollars by 2030.
World Bank: the crisis would undermine Arab oil states
World Bank projected slower growth in the Middle East and North Africa by the financial crisis hit the world today and concomitant decline in crude oil prices and lower remittances.
De Marjuri defends the advantages of high energy prices
General manager and head of the executive body of Total Christophe de Marjuri said on Saturday that high energy prices are helpful in dissuading people from the waste that causes pollution of the environment and make the extraction possible from various sources such as northern Canada.
Stop of Russian oil flow to Poland and Germany, raise European anger
The European Commission, the executive part of the Federation of EU said in a statement issued in Brussels, that it was watching developments with great interest matters relating to the interruption of the pipeline, which pumps oil from Russia to European Union nations, including Poland and Germany, also followed its impact on access to oil Other parts of Europe, including Slovakia and South-East Europe.
Oil prices swell US trade deficit
Rising oil prices saw the US trade gap swell in July to its widest level since March 2007, government figures show.
Oil drops to less than 129 dollars a barrel
Oil dropped about 129 U.S. dollars per barrel for losses of nearly 13 percent since the peak standard, scored last week.
Iran: new oil field contains one billion barrel
Iran has announced discovering of new oil field in Khozstan
province contains more than one billion barrel of crude oil .
Total: Oil prices remain high
Christophe De Marjuri Director General of French Oil Group Total said that oil prices remain high and will not drop off in general less than the technical edge of 80 $ for barrel the cost of production.
Qatar Shell and Petrotcheina establish oil and petrochemical complex in China
Royal Dutch Shell and Petrotcheina company announced in Beijing its intention to set a complex of oil refining and petrochemicals in China in cooperation with Qatar.
