Subject to the new countries to stimulate economic recovery, the current global petrochemical industry more than a year ago and has been much of a change in Outlook.The prospect of the petrochemical industry in Brazil are still strong, he continued.Brazil a consultant at the recently held in Mexico City for the 29th annual meeting of the petrochemical industry in Latin America (23rd annual) said that Brazil, China and India are leading down the global economy.
It is learnt that the second quarter of the demand for petrochemical products in Brazil with a quarter of 1.9%, be the first in a global financial crisis recovery.The next few years Brazil petrochemical products will remain strong demand growth situation, because the country will host the World Cup in 2014 year, two years after the 2016 Olympic Games will be held again.
Nov. 22, 2009
Brazil said the Tupi oil reserves of up to 8 billion barrels
Brazil's state oil company said today, after the Tupi oil and gas fields discovered on estimates of reserves, the oil and natural gas reserves at about 5 billion -8 billion barrels of oil equivalent. Tupi oil and gas fields in the Americas region since the 70s of last century since the discovery of the largest oil and gas fields. The oil and gas fields of storage depth of approximately 2100 meters.
Tupi oil and gas field belong to BM-S-11 exploration areas, by the Brazilian National Petroleum holds 65%, British Gas Group, holding 25 percent, Portugal, Galp Energy Group holding 10%.
Nov. 14, 2009
Tupi oil and gas field belong to BM-S-11 exploration areas, by the Brazilian National Petroleum holds 65%, British Gas Group, holding 25 percent, Portugal, Galp Energy Group holding 10%.
Nov. 14, 2009
Saudi Aramco: global oil demand next year by 1.5 million barrels per day
According to media reports in London November 12, Saudi Arabia, the state-owned oil giant Saudi Arabian Oil Company (Saudi Aramco Company) chief executive officer Khalid Salih France a few days ago, said in an interview, due to the global economic recovery, global oil demand Starting in 2010, may be growing from one million to 1.5 million barrels. However, the law Saleh added that there is no need for Saudi Arabia to increase oil production capacity.
France Salih predicted increase in global oil demand next year, the number far exceeds the Petroleum Exporting Countries (OPEC) has recently made global oil demand next year by 750,000 barrels a day forecast, but next year, the International Energy Agency recently made the world's oil demand will increase 1.42 million barrels a day forecast in line.
Nov. 13, 2009
France Salih predicted increase in global oil demand next year, the number far exceeds the Petroleum Exporting Countries (OPEC) has recently made global oil demand next year by 750,000 barrels a day forecast, but next year, the International Energy Agency recently made the world's oil demand will increase 1.42 million barrels a day forecast in line.
Nov. 13, 2009
IEA cuts 2030 global oil demand forecast
November 10 Paris news, because of the economic crisis cut oil consumption in developed countries, and environmental policies to encourage the use of alternative energy sources, the International Energy Agency (IEA) cut its global oil demand for long-term projections.
The International Energy Agency in its annual World Energy Outlook report says that world oil demand in 2003, before the year is expected to increase by 1%, from 85 million barrels in 2008 to 1.05 million barrels, but that figure was lower than last year, to make Global Day of 2030 required 1.06 million barrels of oil estimates.
The Paris-based International Energy Agency in its latest annual World Energy Outlook report says the global financial crisis and the ensuing economic downturn on prospects for the energy market has brought a significant impact on the world's total energy demand has been with the economic contraction The substantially reduced.
Nov. 11, 2009
The International Energy Agency in its annual World Energy Outlook report says that world oil demand in 2003, before the year is expected to increase by 1%, from 85 million barrels in 2008 to 1.05 million barrels, but that figure was lower than last year, to make Global Day of 2030 required 1.06 million barrels of oil estimates.
The Paris-based International Energy Agency in its latest annual World Energy Outlook report says the global financial crisis and the ensuing economic downturn on prospects for the energy market has brought a significant impact on the world's total energy demand has been with the economic contraction The substantially reduced.
Nov. 11, 2009
Saudi oil in the next 10 years will be 4 trillion U.S. dollars of income
According to Arab media reports in Riyadh November 7, Deutsche Bank recently released an analysis report that, in accordance with the current oil prices in 2011 forecast of 85 U.S. dollars a barrel, and oil prices in the next 10 years, an average annual increase 5% and appropriate to ensure continued Nissan 10 million barrels of oil, Saudi Arabia's oil in the next 10 years their economy will be 4 trillion in revenue.
Reported that Saudi Arabia is the world's leading oil-exporting countries, the country has accounted for more than 20% of the world's proven oil reserves and large quantities of natural gas reserves. The report said: "If according to Deutsche Bank in 2011 made by 85 U.S. dollars per barrel oil price forecasts, we estimate that the increase in oil prices in 2011 on the Saudi economy will be bringing an additional 60 billion U.S. dollars in revenue."
Reported that the next 5 to 10 years of strong oil prices will allow the Saudi government to continue its diversification efforts and to promote non-oil economy. In Saudi Arabia, such as power generation, telecommunications, gas and petrochemical industries, as in the next 10 years will benefit from the rising oil prices benefit, which will also help to increase employment opportunities.
Nov. 9, 2009
Reported that Saudi Arabia is the world's leading oil-exporting countries, the country has accounted for more than 20% of the world's proven oil reserves and large quantities of natural gas reserves. The report said: "If according to Deutsche Bank in 2011 made by 85 U.S. dollars per barrel oil price forecasts, we estimate that the increase in oil prices in 2011 on the Saudi economy will be bringing an additional 60 billion U.S. dollars in revenue."
Reported that the next 5 to 10 years of strong oil prices will allow the Saudi government to continue its diversification efforts and to promote non-oil economy. In Saudi Arabia, such as power generation, telecommunications, gas and petrochemical industries, as in the next 10 years will benefit from the rising oil prices benefit, which will also help to increase employment opportunities.
Nov. 9, 2009
ASCI oil companies interested in using the price of crude oil as an export base
Argus's head of U.S. operations, said Thursday Euan Craik, Latin America and the Middle East, major oil companies have stated their positions, said there is "strong interest" to switch to Argus of the US. Sour Crude Index (ASCI) index, as its exports of crude oil price benchmarks. Earlier, Saudi Arabia has decided to use the index.
Craik refused to disclose the country is considering making changes name, but he described that (their) interest is "unprecedented." "It feels like an upheaval. From our experience point of view, as it is an unprecedented event." Craik said in a telephone interview.
Last week, Saudi Arabia to give up the West Texas Intermediate crude oil (WTI) crude oil price as the price of its exported to the U.S. benchmark WTI U.S. Gulf of Mexico area due to the market environment increasingly out of touch people feel frustrated. Saudi Arabia to switch to English Argus index Argus company is a major success, the company for the physical energy market price assessment of the competitors, including the McGraw-Hill's cause of Platts.
Nov. 7, 2009
Craik refused to disclose the country is considering making changes name, but he described that (their) interest is "unprecedented." "It feels like an upheaval. From our experience point of view, as it is an unprecedented event." Craik said in a telephone interview.
Last week, Saudi Arabia to give up the West Texas Intermediate crude oil (WTI) crude oil price as the price of its exported to the U.S. benchmark WTI U.S. Gulf of Mexico area due to the market environment increasingly out of touch people feel frustrated. Saudi Arabia to switch to English Argus index Argus company is a major success, the company for the physical energy market price assessment of the competitors, including the McGraw-Hill's cause of Platts.
Nov. 7, 2009
Asia-Pacific region by 2030 in the energy sector need to invest 8 trillion U.S. dollars
The Asian Development Bank (ADB) on November 5, 2009 released a report that the Asia-Pacific region from 2005 to 2030 in order to enhance and expand the energy system, we must invest in 7 to 9.7 trillion dollars, an average of 8 trillion dollars, in order to meet rapidly growing demand for energy. Asia-Pacific region's energy projections indicate that between 2005 and 2030, energy demand in the region the average annual growth rate of 2.4%, higher than the world average of 1.5%.
Report that the Asia-Pacific region by 2030, nearly 80% of the energy demand will have to be from fossil fuels: coal, oil and natural gas to meet, which will promote the growth of carbon dioxide emissions. Net imports of oil is expected to significantly increase in 2030 net import levels in 2005, turned almost doubled. The report, issued jointly by the ADB and the Asia-Pacific Economic Cooperation.
Energy Statistics report found that the Asia-Pacific region in 2006 the world's total consumption of primary energy supply to 34%, but the per capita generation capacity of 1,800 kWh, still higher than the world average of 2,870 kWh less 37%.
Nov. 6, 2009
Report that the Asia-Pacific region by 2030, nearly 80% of the energy demand will have to be from fossil fuels: coal, oil and natural gas to meet, which will promote the growth of carbon dioxide emissions. Net imports of oil is expected to significantly increase in 2030 net import levels in 2005, turned almost doubled. The report, issued jointly by the ADB and the Asia-Pacific Economic Cooperation.
Energy Statistics report found that the Asia-Pacific region in 2006 the world's total consumption of primary energy supply to 34%, but the per capita generation capacity of 1,800 kWh, still higher than the world average of 2,870 kWh less 37%.
Nov. 6, 2009
Eni will invest 35 billion U.S. dollars development of Zubair oil field
November 2 in Baghdad, the Iraqi government's oil minister Hussain al-Shahristani November 1 said here today that he expects the Italian oil and gas giant Eni and its partners in the next six years, will invest 35 billion U.S. dollars to develop Iraq's oil reserves with 4 billion barrels of Zubair oil field.
Shahristani is the Oil Ministry and the Iraqi government to an international consortium led by Eni SpA signed a Zubayr oil fields to develop after the initial agreement of the reporters made the remarks. Shahristani said in the next six years, and to the development of Zubair oil field's oil output to 1.2 million barrels is expected to take 35 billion U.S. dollars of investment, of which about 20 billion U.S. dollars of assets investment, an additional 15 billion was operating costs.
Eni has previously said that the company Occidental Petroleum and its partners the U.S. and South Korean gas company expects over the next seven years will be 10 billion U.S. dollars investment in Zubair oil field with a view to Zubair oil field increased to 1.125 million barrels per day.
Nov. 4, 2009
Shahristani is the Oil Ministry and the Iraqi government to an international consortium led by Eni SpA signed a Zubayr oil fields to develop after the initial agreement of the reporters made the remarks. Shahristani said in the next six years, and to the development of Zubair oil field's oil output to 1.2 million barrels is expected to take 35 billion U.S. dollars of investment, of which about 20 billion U.S. dollars of assets investment, an additional 15 billion was operating costs.
Eni has previously said that the company Occidental Petroleum and its partners the U.S. and South Korean gas company expects over the next seven years will be 10 billion U.S. dollars investment in Zubair oil field with a view to Zubair oil field increased to 1.125 million barrels per day.
Nov. 4, 2009
Russia next year will create a new record in oil production
According to media reports in Moscow, the world's largest oil producer, Russia, October 28 said here, because in the Arctic and Siberian regions have put into operation new oil fields, Russia, next year will create a new oil production record.
According to the Russian Energy Ministry said, the world's largest country, oil production has already exceeded the world's largest oil producer, Saudi Arabia, Russia is expected in 2010 will create a more than 2009 years of the new oil production record. The Russian Energy Ministry expects Russian oil production in 2010 will be more than 490 million ton. 490 million tons is Russia's 2009 production target.
According to the Russian State Statistical Bureau of Statistics, the Russian oil production in August reached 9.9 million barrels in July and in June of its oil output to 9.86 million barrels, respectively, and 9.51 million barrels. As a comparison, Saudi Arabia during this period the average daily output of about 8.1 million barrels of oil.
Nov. 1, 2009
According to the Russian Energy Ministry said, the world's largest country, oil production has already exceeded the world's largest oil producer, Saudi Arabia, Russia is expected in 2010 will create a more than 2009 years of the new oil production record. The Russian Energy Ministry expects Russian oil production in 2010 will be more than 490 million ton. 490 million tons is Russia's 2009 production target.
According to the Russian State Statistical Bureau of Statistics, the Russian oil production in August reached 9.9 million barrels in July and in June of its oil output to 9.86 million barrels, respectively, and 9.51 million barrels. As a comparison, Saudi Arabia during this period the average daily output of about 8.1 million barrels of oil.
Nov. 1, 2009
The world's oceans oil and gas production in 2013 will reach 53.5 million barrels/day
Douglas-Westwood expects the global offshore oil and gas production in 2009 will reach 42.3 million barrels / day of oil equivalent, excluding natural gas liquids. The company forecasts that by 2013 the production will grow by about 26%, reaching 53.5 million barrels / day of oil equivalent.
New production from different parts of the world, including the Middle East region will add 3.5 million barrels / day, the African additional 2.9 million barrels / day, the Asia Pacific region added 2.7 million barrels / day. The only decline in the region is Europe, offshore oil and gas production will drop 1 million barrels / day, from 2009 estimated 8.3 million bbl / d the world is down to about 7.3 million bbl / day.
Sep. 29, 2009
New production from different parts of the world, including the Middle East region will add 3.5 million barrels / day, the African additional 2.9 million barrels / day, the Asia Pacific region added 2.7 million barrels / day. The only decline in the region is Europe, offshore oil and gas production will drop 1 million barrels / day, from 2009 estimated 8.3 million bbl / d the world is down to about 7.3 million bbl / day.
Sep. 29, 2009
Venezuela plans to 80 U.S. dollars per barrel of oil specified a minimum price of oil
Caracas news, Venezuela's oil minister Rafael Ramirez September 22 here that in order to improve in the next few years, Venezuela's oil production, Venezuela intends to develop its own oil production in 80 U.S. dollars a barrel the lowest prices. He said the aim is to establish minimum prices in order to bring Venezuela's oil output by 2030 to double to 6 million barrels.
Ramirez was at a heavy oil conference made the remarks. He said that Venezuela's current average daily output of approximately 3 million barrels of oil, Venezuela, 2015, the Government intends to bring its oil output to 4.7 million barrels in 2030 to 6 million barrels. In order to achieve these goals, the Venezuelan state oil company intends to develop its own oil production in 80 U.S. dollars a barrel, the lowest price.
Sep. 24, 2009
Ramirez was at a heavy oil conference made the remarks. He said that Venezuela's current average daily output of approximately 3 million barrels of oil, Venezuela, 2015, the Government intends to bring its oil output to 4.7 million barrels in 2030 to 6 million barrels. In order to achieve these goals, the Venezuelan state oil company intends to develop its own oil production in 80 U.S. dollars a barrel, the lowest price.
Sep. 24, 2009
Venezuela's 36 billion U.S. dollars within a week of oil investment
September 19, according to media reports in Caracas, Venezuela's President Hugo Chavez September 16, said in the past week, Russia and China have agreed to Venezuela's Orinoco Belt oil projects investment in 36 billion U.S. dollars. Under the agreement, in Russia and China's participation in oil projects in Venezuela's national oil company will own a majority stake.
According to Venezuelan President has said, after two years of negotiations later, Venezuela's finally September 15 in Beijing with the Chinese side signed a Chinese company in the next three years will be located in Venezuela's Orinoco heavy oil belt 16 billion U.S. dollars investment in oil projects. However, Chavez did not disclose the names of Chinese companies. September 12, Venezuela and Russia signed a Russian consortium will be located in Venezuela's Orinoco Belt oil projects invested 20 billion U.S. dollars agreement.
Venezuela's state oil company, said in a statement, with Russia and China signed a contract valid for 25 years, according to the contract, Russia and China will each bring the Orinoco oil belt of oil per day to 450,000 barrels. The world's No. 5 oil exporter and the United States as a key oil supplier Venezuela's Orinoco oil belt is currently being established reserves owned. Orinoco oil belt holds an estimated 234 billion barrels of heavy oil and extra-heavy oil reserves.
Sep. 21, 2009
According to Venezuelan President has said, after two years of negotiations later, Venezuela's finally September 15 in Beijing with the Chinese side signed a Chinese company in the next three years will be located in Venezuela's Orinoco heavy oil belt 16 billion U.S. dollars investment in oil projects. However, Chavez did not disclose the names of Chinese companies. September 12, Venezuela and Russia signed a Russian consortium will be located in Venezuela's Orinoco Belt oil projects invested 20 billion U.S. dollars agreement.
Venezuela's state oil company, said in a statement, with Russia and China signed a contract valid for 25 years, according to the contract, Russia and China will each bring the Orinoco oil belt of oil per day to 450,000 barrels. The world's No. 5 oil exporter and the United States as a key oil supplier Venezuela's Orinoco oil belt is currently being established reserves owned. Orinoco oil belt holds an estimated 234 billion barrels of heavy oil and extra-heavy oil reserves.
Sep. 21, 2009
Morgan Stanley: the tight supply will push prices as high as 105 USD
Recently, the well-known financial services company Morgan Stanley published a new study reports that, due to the increasingly tight supply of the future, therefore, oil prices in 2012 to rebound to 105 U.S. dollars a barrel. According to the study said, due to technical, financial and political factors, originally planned in 2009 and 2015 the majority of the increase in oil production in the project can not be completed by then. The report said that spare capacity will lead to increasing tension, while the spare capacity is tight, in 2005 an important reason for rising oil prices.
Sep. 18, 2009
Sep. 18, 2009
Invested 9.8 billion U.S. dollars of Libya's crude oil production increase
September 13 Tripoli news, as has Africa's largest crude oil reserves of Libya has been seeking to improve their own crude oil production, the Libyan government has approved an investment of 12.1 billion dinars (9.86 billion U.S. dollars) to develop and enhance the 24 oil fields plan.
The Libyan Government on its official Web site said in a statement issued by the Libyan National Oil Company will work with other state-owned oil company of Libya and the ongoing foreign oil companies operating in Libya's national co-operation to accomplish this increase in oil production plan, the plan will not be including the new entrants. Of Petroleum Exporting Countries (OPEC) member Libya has been seeking in 2013 before their crude oil production capacity from the current 1.8 million barrels to 3 million barrels. According to the Libyan Government said, because it is difficult to develop or located in remote areas, Libya, there are 5 billion barrels of oil have not been developed, this number accounts for Libya's total oil reserves owned by 12%.
Sep. 15, 2009
The Libyan Government on its official Web site said in a statement issued by the Libyan National Oil Company will work with other state-owned oil company of Libya and the ongoing foreign oil companies operating in Libya's national co-operation to accomplish this increase in oil production plan, the plan will not be including the new entrants. Of Petroleum Exporting Countries (OPEC) member Libya has been seeking in 2013 before their crude oil production capacity from the current 1.8 million barrels to 3 million barrels. According to the Libyan Government said, because it is difficult to develop or located in remote areas, Libya, there are 5 billion barrels of oil have not been developed, this number accounts for Libya's total oil reserves owned by 12%.
Sep. 15, 2009
BP: Arctic Ocean may have a 200 billion barrels of oil and gas resources
September 2 in London, Europe's No. 2 oil company British Petroleum, said here today that the company estimates that the Arctic Ocean may have about 200 billion barrels of oil equivalent of oil and gas resources, this figure accounts for the global oil and gas reserves to be found in 25% to 50%.
British Petroleum is responsible for exploration operations director Mike Daly, September 2 In an interview with Horizon's in-house magazine interview, said that this is a huge unexplored areas. British Petroleum nowadays are Russia, Canada and the United States outside of Alaska at the Arctic Sea oil and gas exploration operations.
According to Daley said, the British Petroleum nowadays with the Russian oil giant Rosneft's cooperation in the Russian Far East and Arctic exploration for oil and natural gas. In January of this year, British Petroleum employs the world's largest seismic company CGGVeritas in Canada, outside of the northern coast of the Beaufort Sea exploration operations.
British Petroleum recently constructed in the U.S. Gulf of Mexico Tiber has discovered an estimated 3 billion barrels of oil reserves, oil fields. It is reported that British Petroleum is currently the amount of exploration work in 40% of the Gulf of Mexico, Angola and Egypt.
Sep. 4, 2009
British Petroleum is responsible for exploration operations director Mike Daly, September 2 In an interview with Horizon's in-house magazine interview, said that this is a huge unexplored areas. British Petroleum nowadays are Russia, Canada and the United States outside of Alaska at the Arctic Sea oil and gas exploration operations.
According to Daley said, the British Petroleum nowadays with the Russian oil giant Rosneft's cooperation in the Russian Far East and Arctic exploration for oil and natural gas. In January of this year, British Petroleum employs the world's largest seismic company CGGVeritas in Canada, outside of the northern coast of the Beaufort Sea exploration operations.
British Petroleum recently constructed in the U.S. Gulf of Mexico Tiber has discovered an estimated 3 billion barrels of oil reserves, oil fields. It is reported that British Petroleum is currently the amount of exploration work in 40% of the Gulf of Mexico, Angola and Egypt.
Sep. 4, 2009
SINOCHEM Group plans 400 million pounds acquisition of British Gulfsands Petroleum
LONDON, United Kingdom August 30 Daily Mail reported that the London Stock Exchange listed oil and gas exploration company Gulfsands Petroleum is talking to Chinese state-owned SINOCHEM Group in talks to buy.
Daily Mail quoted a source close to the negotiations on the news provider as saying that the British Gulfsands Petroleum will be in a few weeks to make the tender decision. China SINOCHEM Group plans to invest 400 million pounds (651.4 million U.S. dollars) to acquire Gulfsands Petroleum Gulfsands Petroleum shares in this offer than the August 28 closing price of 230 pence per share higher than 42%.
As Khuebet East oil fields in Syria, the success of exploration activities, Gulfsands Petroleum's shares from the beginning of the year when the 130 pence per share climbing. August Earlier, SINOCHEM Group agreed to buy 532 million pounds of British Emerald Energy, which is the United Kingdom Gulfsands Petroleum in Syria, a joint venture partner.
Sep. 1, 2009
Daily Mail quoted a source close to the negotiations on the news provider as saying that the British Gulfsands Petroleum will be in a few weeks to make the tender decision. China SINOCHEM Group plans to invest 400 million pounds (651.4 million U.S. dollars) to acquire Gulfsands Petroleum Gulfsands Petroleum shares in this offer than the August 28 closing price of 230 pence per share higher than 42%.
As Khuebet East oil fields in Syria, the success of exploration activities, Gulfsands Petroleum's shares from the beginning of the year when the 130 pence per share climbing. August Earlier, SINOCHEM Group agreed to buy 532 million pounds of British Emerald Energy, which is the United Kingdom Gulfsands Petroleum in Syria, a joint venture partner.
Sep. 1, 2009
Global oil demand next year will increase by 1 million barrels
According to MNA, Tehran, Iran, Iranian presence of Petroleum Exporting Countries (OPEC) August 26 government representatives said here today that, due to signs of recovery in the global economy, global oil demand in 2010 is expected to increase by 100 million barrels.
He said that the global economy, taking into account the relative recovery, Harty than expected global oil demand in 2010 will increase 0.5-1 million barrels. This year, global oil demand than the previous year fell from 1.5 million to 2 million barrels.
Turning over the past few months, said global oil inventories, oil-producing countries do not want to sell their inventory, they want to rising oil prices will continue to rise. From 13-member OPEC will not be meeting on September 9 to reduce oil production. Optimistic about the signs of the oil market and the global economic recovery will be gratifying news in January of next year before that pushed oil prices above 80 U.S. dollars a barrel.
Aug. 28, 2009
He said that the global economy, taking into account the relative recovery, Harty than expected global oil demand in 2010 will increase 0.5-1 million barrels. This year, global oil demand than the previous year fell from 1.5 million to 2 million barrels.
Turning over the past few months, said global oil inventories, oil-producing countries do not want to sell their inventory, they want to rising oil prices will continue to rise. From 13-member OPEC will not be meeting on September 9 to reduce oil production. Optimistic about the signs of the oil market and the global economic recovery will be gratifying news in January of next year before that pushed oil prices above 80 U.S. dollars a barrel.
Aug. 28, 2009
Iran Sousangerd oilfield discovered 8.8 billion barrels of crude oil reserves
August 24, according to media reports in Tehran, Iranian Oil Minister Gholam Hussein Nozari said here today that Iran has received over the past five years, the largest oil discovery. Nozari said that Iran recently Sousangerd oilfield found in the four strata of 8.8 billion barrels of crude oil reserves.
Iran's IRNA news agency quoted Nozari as saying, Sousangerd oilfield 4 Ge formation the drilling operation has been successfully completed, the four strata are estimated to have 8.83 billion barrels of crude oil reserves. Iran's Oil Ministry will prepare a development plan in the near future, due to new discoveries near existing infrastructure, therefore, Nozari hope Sousangerd oilfield can be put into operation in the near future.
Aug. 25, 2009
Iran's IRNA news agency quoted Nozari as saying, Sousangerd oilfield 4 Ge formation the drilling operation has been successfully completed, the four strata are estimated to have 8.83 billion barrels of crude oil reserves. Iran's Oil Ministry will prepare a development plan in the near future, due to new discoveries near existing infrastructure, therefore, Nozari hope Sousangerd oilfield can be put into operation in the near future.
Aug. 25, 2009
Cairn Energy to invest four billion U.S. dollars to enhance oil production in India
New Delhi, August 20 news, British Energy Cairn Energy India under the Cairn India subsidiary, announced here today that the company and its partners Indian Oil and Natural Gas Corporation (ONGC) in 2011 will invest 200 billion rupees (4 one billion U.S. dollars) to improve the state of Rajasthan in India's oil production Bermer field.
Bermer oil from three oil fields of the Mangala oil field, respectively, Bhagyam and Aishwariya oil fields. Cairn India to invest these three fields is aimed at these three oil fields to increase oil production from 25,000 to 200,000 barrels per day. In this project, Cairn India has a 70% stake, while India has a 30% stake in ONGC. This three field 2P have 0.7 billion barrels of recoverable oil reserves, as well as 0.3 billion barrels of oil recovery potential.
Aug. 22, 2009
Bermer oil from three oil fields of the Mangala oil field, respectively, Bhagyam and Aishwariya oil fields. Cairn India to invest these three fields is aimed at these three oil fields to increase oil production from 25,000 to 200,000 barrels per day. In this project, Cairn India has a 70% stake, while India has a 30% stake in ONGC. This three field 2P have 0.7 billion barrels of recoverable oil reserves, as well as 0.3 billion barrels of oil recovery potential.
Aug. 22, 2009
IEA: Oil output in Nigeria dropped to its lowest level in 20 years
International Energy Agency (IEA) has said that Nigeria's current oil production has fallen over the past 20 years the country to the lowest level. The Nigerian government in June agreed to implement the amnesty to end violence in the Niger Delta region activities in Nigeria is almost no positive impact on oil production.
International Energy Agency in its monthly oil market, said in July the International Energy Agency estimated that the average Nigerian crude oil production 1.68 million barrels, more than in June crude oil production decreased by 4 million barrels a day and far below the Government's assumption of Nigeria 3,000,000 barrels per day capacity.
In the Niger Delta region of swamps and rivers of oil companies operating in the past few years by local militants had been a serious constraint, the local militants have been most in the search for local control of oil wealth.
Aug. 16, 2009
International Energy Agency in its monthly oil market, said in July the International Energy Agency estimated that the average Nigerian crude oil production 1.68 million barrels, more than in June crude oil production decreased by 4 million barrels a day and far below the Government's assumption of Nigeria 3,000,000 barrels per day capacity.
In the Niger Delta region of swamps and rivers of oil companies operating in the past few years by local militants had been a serious constraint, the local militants have been most in the search for local control of oil wealth.
Aug. 16, 2009
Thin-film solar cells Centrotherm announced volume production line to achieve 13% conversion efficiency
Centrotherm photovoltaics AG has announced that its thin-film sector has been successfully Centrotherm patent will be based on the equipment and technology conversion efficiency of thin film solar cells to 13%. The results of the process was also used for large-scale mass production, and it is expected that the 1.5m ² for the manufacture of thin film components of the turnkey lines can reach 12% efficiency.
Centrotherm photovoltaics solar silicon, crystalline silicon thin-film CIGS solar cells and components of the production equipment and technology providers, is committed to the film sector to reduce the cost per watt of solar cells. Centrotherm have in the CIGS thin-film technology leading conversion efficiency, can provide customers high-efficiency, lower production costs. In addition, with other manufacturing techniques, the new manufacturing process for CIGS components of the process does not require toxic gases.
"Has been obtained in the laboratory, the efficiency of thin-film components demonstrated the potential advantages of the technology. However, the current challenge is how to make the technology from the laboratory into mass production in large-scale," Centrotherm photovoltaics's CTO Peter Fath Dr.说. "We in the CIGS technology has the advantage of being simple and robust process management, and easy to choose from small-volume production line process into more steps."
Centrotherm photovoltaics Group Blaubeuren have CIGS a complete production line, from 2008 pre-production film components 0.1m ², and R & D experimental film here.
Blaubeuren experts from the use of 1.5m ² of photovoltaic components, because it can target to achieve the optimal efficiency of production and assembly costs, and thus enable customers to long-term access to highly competitive production conditions. Components using the glass - the glass sandwich structure, and based on the company's patented two-step process. A first step, remove the metal workshop in the sputtered film. CIGS phase transformation occurred in the second heat treatment steps. Process management enables efficiency was greatly improved and at the same time reducing production costs. "Despite our success is still in its initial stage, but it shows that our R & D investment and expansion of walking in the right direction," Fath said.
Centrotherm over the first set of annual production capacity of 30MW of CIGS thin-film battery turnkey production lines have been a customer in Asia to adopt, and rapid mass production. The goal is that in 2009 the use of 1.5m ² of substrate manufacturing, which will be the first, currently the largest manufacturer in the mass production of CIGS components.
Aug. 11, 2009
Centrotherm photovoltaics solar silicon, crystalline silicon thin-film CIGS solar cells and components of the production equipment and technology providers, is committed to the film sector to reduce the cost per watt of solar cells. Centrotherm have in the CIGS thin-film technology leading conversion efficiency, can provide customers high-efficiency, lower production costs. In addition, with other manufacturing techniques, the new manufacturing process for CIGS components of the process does not require toxic gases.
"Has been obtained in the laboratory, the efficiency of thin-film components demonstrated the potential advantages of the technology. However, the current challenge is how to make the technology from the laboratory into mass production in large-scale," Centrotherm photovoltaics's CTO Peter Fath Dr.说. "We in the CIGS technology has the advantage of being simple and robust process management, and easy to choose from small-volume production line process into more steps."
Centrotherm photovoltaics Group Blaubeuren have CIGS a complete production line, from 2008 pre-production film components 0.1m ², and R & D experimental film here.
Blaubeuren experts from the use of 1.5m ² of photovoltaic components, because it can target to achieve the optimal efficiency of production and assembly costs, and thus enable customers to long-term access to highly competitive production conditions. Components using the glass - the glass sandwich structure, and based on the company's patented two-step process. A first step, remove the metal workshop in the sputtered film. CIGS phase transformation occurred in the second heat treatment steps. Process management enables efficiency was greatly improved and at the same time reducing production costs. "Despite our success is still in its initial stage, but it shows that our R & D investment and expansion of walking in the right direction," Fath said.
Centrotherm over the first set of annual production capacity of 30MW of CIGS thin-film battery turnkey production lines have been a customer in Asia to adopt, and rapid mass production. The goal is that in 2009 the use of 1.5m ² of substrate manufacturing, which will be the first, currently the largest manufacturer in the mass production of CIGS components.
Aug. 11, 2009
CECIC and Suntech Power signed a strategic cooperation agreement
China Energy Conservation Investment Corporation (CECIC) and the world's largest crystalline silicon PV modules manufacturer Suntech Power Holdings Co., Ltd. recently signed a strategic cooperation agreement and plan for the future 5 years to develop solar energy projects.
In this cooperation, CECIC will have primary responsibility for investment and development, Suntech Power is primarily responsible for crystalline silicon photovoltaic cells to provide components, systems design and technical services. The two companies plan to focus on the development of 5 years international, China's domestic large-scale grid projects, the integration of urban construction of photovoltaic (BIPV) projects, in remote areas without electricity independent photovoltaic power generation projects and landscape projects complement each other and the network station.
Wang Xiaokang, general manager of CECIC said that the national and the provincial government introduced policies aimed at the solar renewable energy through the development of environmentally sustainable development to achieve the great goal. Suntech Power and the establishment of the partnership is that we in the implementation of government policies with regard to the important step out. "
Suntech Power, chairman and CEO Shi Zengrong said, "China's energy-saving in the project finance and development experience, combined with Suntech Power efficient solutions for the development of China's solar energy project to build a solid foundation. The use of solar power generation, on the one hand can reduce greenhouse gas emissions, on the other hand, would be able to meet the energy needs of the Chinese market. "
Aug. 9, 2009
In this cooperation, CECIC will have primary responsibility for investment and development, Suntech Power is primarily responsible for crystalline silicon photovoltaic cells to provide components, systems design and technical services. The two companies plan to focus on the development of 5 years international, China's domestic large-scale grid projects, the integration of urban construction of photovoltaic (BIPV) projects, in remote areas without electricity independent photovoltaic power generation projects and landscape projects complement each other and the network station.
Wang Xiaokang, general manager of CECIC said that the national and the provincial government introduced policies aimed at the solar renewable energy through the development of environmentally sustainable development to achieve the great goal. Suntech Power and the establishment of the partnership is that we in the implementation of government policies with regard to the important step out. "
Suntech Power, chairman and CEO Shi Zengrong said, "China's energy-saving in the project finance and development experience, combined with Suntech Power efficient solutions for the development of China's solar energy project to build a solid foundation. The use of solar power generation, on the one hand can reduce greenhouse gas emissions, on the other hand, would be able to meet the energy needs of the Chinese market. "
Aug. 9, 2009
GT Solar International announced the first quarter of fiscal year 2010 report
GT Solar International, Inc. (NASDAQ: SOLR) ( "GT Solar"), a global provider of specialized equipment and technology for the solar power industry, today reported results for its first quarter of fiscal year 2010, which ended June 27, 2009 . Revenue for the first fiscal quarter totaled $ 71.8 million, compared with $ 57.1 million in the first quarter of fiscal year 2009. Revenue for the first fiscal quarter included $ 19.9 million in the PV segment and $ 51.9 million in the polysilicon segment.
Gross profit for the quarter totaled $ 35.0 million, or 49 percent of revenue, compared to $ 24.3 million, or 43 percent of revenue, for the first quarter of fiscal year 2009. Operating margin for the quarter was 21.7 percent, compared to 14 percent in the first quarter of fiscal 2009. The company had net income of $ 7.8 million in the first quarter of fiscal 2010 versus $ 5.1 million for the same quarter of fiscal 2009. Earnings per share in the first quarter on a fully-diluted basis were $ 0.05, versus $ 0.03 for the same quarter last year.
At quarter's end, the company's backlog was $ 1.12 billion, with $ 330 million in the PV segment and $ 785 million in the polysilicon segment. Net bookings for the quarter were $ 9.8 million.
Management Commentary
"We saw a number of positive developments in the first quarter including solid profitability, increases in our cash position and deferred revenue balance, new PV bookings and the acceptance of another GT turnkey wafer fabrication line," said Tom Zarrella, president and chief executive officer . "As planned, we completed shipment of a significant portion of the reactor-based backlog that is expected to be recognized as revenue in the second half of the year.
"The company is focused on improving operating efficiencies, maintaining cash and a strong balance sheet, strengthening customer relationships and ensuring that our R & D continues to advance GT Solar's technology leadership," said Zarrella. "We are confident that, with our cash management practices, lean cost structure, and flexible business model, we will be in a position to deliver enhanced earnings performance when the industry's growth returns. "
Business Outlook
The company indicated today that it is on track with its guidance provided last quarter for fiscal year ending April 3, 2010, for revenue of $ 450 million to $ 550 million and fully-diluted earnings per share of $ 0.45 to $ 0.60.
Conference Call, Webcast
The company will host a live conference call and webcast at 5:00 pm Eastern Time today with Tom Zarrella, president and chief executive officer, and Rich Johnson, vice president of finance.
To listen to the conference call, callers in the United States and Canada may dial 1-888-396-2384. International callers may dial 1-617-847-8711. The conference call passcode is SOLR. A link to the live audio webcast of the company's earnings conference call may be found under 'Events' at http://investor.gtsolar.com/.
A telephone replay will be available through November 4, 2009. To listen to the replay, callers in the United States and Canada may dial 1 - 888-286-8010. International callers may dial 1 - 617-801-6888. The replay passcode is 33310487.
About GT Solar International, Inc.
GT Solar International, Inc. (NASDAQ: SOLR) is a leading global provider of specialized manufacturing equipment and technology essential for the production of photovoltaic wafers, cells and modules and polysilicon utilized in the solar power industry. The company's principal products are directional solidification systems and chemical vapor deposition reactors and related equipment. For more information about GT Solar, please visit the company's website at www.gtsolar.com.
Gross profit for the quarter totaled $ 35.0 million, or 49 percent of revenue, compared to $ 24.3 million, or 43 percent of revenue, for the first quarter of fiscal year 2009. Operating margin for the quarter was 21.7 percent, compared to 14 percent in the first quarter of fiscal 2009. The company had net income of $ 7.8 million in the first quarter of fiscal 2010 versus $ 5.1 million for the same quarter of fiscal 2009. Earnings per share in the first quarter on a fully-diluted basis were $ 0.05, versus $ 0.03 for the same quarter last year.
At quarter's end, the company's backlog was $ 1.12 billion, with $ 330 million in the PV segment and $ 785 million in the polysilicon segment. Net bookings for the quarter were $ 9.8 million.
Management Commentary
"We saw a number of positive developments in the first quarter including solid profitability, increases in our cash position and deferred revenue balance, new PV bookings and the acceptance of another GT turnkey wafer fabrication line," said Tom Zarrella, president and chief executive officer . "As planned, we completed shipment of a significant portion of the reactor-based backlog that is expected to be recognized as revenue in the second half of the year.
"The company is focused on improving operating efficiencies, maintaining cash and a strong balance sheet, strengthening customer relationships and ensuring that our R & D continues to advance GT Solar's technology leadership," said Zarrella. "We are confident that, with our cash management practices, lean cost structure, and flexible business model, we will be in a position to deliver enhanced earnings performance when the industry's growth returns. "
Business Outlook
The company indicated today that it is on track with its guidance provided last quarter for fiscal year ending April 3, 2010, for revenue of $ 450 million to $ 550 million and fully-diluted earnings per share of $ 0.45 to $ 0.60.
Conference Call, Webcast
The company will host a live conference call and webcast at 5:00 pm Eastern Time today with Tom Zarrella, president and chief executive officer, and Rich Johnson, vice president of finance.
To listen to the conference call, callers in the United States and Canada may dial 1-888-396-2384. International callers may dial 1-617-847-8711. The conference call passcode is SOLR. A link to the live audio webcast of the company's earnings conference call may be found under 'Events' at http://investor.gtsolar.com/.
A telephone replay will be available through November 4, 2009. To listen to the replay, callers in the United States and Canada may dial 1 - 888-286-8010. International callers may dial 1 - 617-801-6888. The replay passcode is 33310487.
About GT Solar International, Inc.
GT Solar International, Inc. (NASDAQ: SOLR) is a leading global provider of specialized manufacturing equipment and technology essential for the production of photovoltaic wafers, cells and modules and polysilicon utilized in the solar power industry. The company's principal products are directional solidification systems and chemical vapor deposition reactors and related equipment. For more information about GT Solar, please visit the company's website at www.gtsolar.com.
Vietnam plans to invest 10 billion U.S. dollars building a petrochemical Commonwealth
It is reported that the Vietnamese state-owned oil company Petrovietnam has decided to build the country's largest petrochemical Commonwealth. The consortium will invest more than 10 billion U.S. dollars, will include a refinery and a chemical plant. The first construction work started in 2011, is expected to put into operation in 2014.
Petrovietnam will choose in the autumn of foreign joint venture partners to operate the refinery, chemical plant for the company has decided to Thailand Siam Cement Group and other partners work together to invest in the construction. It was learned that the Commonwealth will be built in about 100 km from Ho Chi Minh City Department of Ba Ria-Vung Tau province of Long Son district.
It is reported that the refinery will be Vietnam's third oil refinery, the design of crude oil processing capacity of 20 million barrels / day of crude oil imports from all. The Commonwealth will produce gasoline, diesel and liquefied petroleum gas. Petrovietnam is currently being conducted with a number of foreign companies to negotiate the final joint. Will in the third quarter or fourth quarter at the end of the beginning of the decision.
At present in Vietnam, almost all of petrochemical products from Singapore, Thailand and Taiwan. Vietnam if the current two existing refineries, and the third set of new oil refineries at full capacity production, Vietnam's petrochemical products needed to achieve self-sufficiency.
Aug. 4, 2009
Petrovietnam will choose in the autumn of foreign joint venture partners to operate the refinery, chemical plant for the company has decided to Thailand Siam Cement Group and other partners work together to invest in the construction. It was learned that the Commonwealth will be built in about 100 km from Ho Chi Minh City Department of Ba Ria-Vung Tau province of Long Son district.
It is reported that the refinery will be Vietnam's third oil refinery, the design of crude oil processing capacity of 20 million barrels / day of crude oil imports from all. The Commonwealth will produce gasoline, diesel and liquefied petroleum gas. Petrovietnam is currently being conducted with a number of foreign companies to negotiate the final joint. Will in the third quarter or fourth quarter at the end of the beginning of the decision.
At present in Vietnam, almost all of petrochemical products from Singapore, Thailand and Taiwan. Vietnam if the current two existing refineries, and the third set of new oil refineries at full capacity production, Vietnam's petrochemical products needed to achieve self-sufficiency.
Aug. 4, 2009
Saudi Aramco oil production in June to reach 12 million barrels per day
Riyadh, July 28 message, the local media today quoted the Saudi Arabia National Oil Company (Saudi Aramco) chief executive officer Khalid Saleh Law as saying that three new oil fields as a result of the project put into production, Saudi Aramco's oil in June Nissan can be reached 12 million barrels a day.
Law Saleh said that the project is one of the Shaybah oilfield expansion project. The other two projects are Nuayyim Rice Hu oil and oil field. Law Saleh said that the decline in global oil demand is temporary, and oil consumption will eventually increase to resume. If the global downturn in demand for investment in the oil sector failed to capacity, then, global oil production capacity to reduce and in the future lead to rapid increases in oil prices, it will cause the global economy and a wider range of oil crisis.
Law Saleh said that the decline in demand for crude oil of Saudi Arabia have more spare production capacity and to focus on Saudi Arabia oil production from non-associated natural gas field in development.
Jul. 29, 2009
Law Saleh said that the project is one of the Shaybah oilfield expansion project. The other two projects are Nuayyim Rice Hu oil and oil field. Law Saleh said that the decline in global oil demand is temporary, and oil consumption will eventually increase to resume. If the global downturn in demand for investment in the oil sector failed to capacity, then, global oil production capacity to reduce and in the future lead to rapid increases in oil prices, it will cause the global economy and a wider range of oil crisis.
Law Saleh said that the decline in demand for crude oil of Saudi Arabia have more spare production capacity and to focus on Saudi Arabia oil production from non-associated natural gas field in development.
Jul. 29, 2009
Iraq demands BP and PetroChina to raise Rumaila oil output
According to media in Baghdad on July 23 reported that Iraq has been looking for international partners to develop the country's vast oil reserves, the world's No. 3 largest oil reserves in the hope that the country's largest oil field in Iraq Rumaila oil fields in the next 6 years to improve 2.
July 22, Iraqi Oil Minister Hussein Shahristani met in Baghdad largest oil company in Europe, No. 2 BP (BP) and the Chinese state-owned oil giant China National Petroleum Corporation (PetroChina) representatives, the two sides Rumaila field to discuss raising oil production plans. BP and PetroChina Shahristani request Rumaila oil fields to oil production from the current 95 million barrels per day to 2.85 million barrels per day.
Shahristani June 30 in the first post-war Iraq oil and gas field before the start of the auction said that Iraq will be through the development of six oil fields and two gas fields to the country's oil output from 2.4 million barrels to 400 million barrels per day. Iraq plans to hold its end of the year the sale of two tender to permit Iraq to increase oil production further to 600 million barrels per day.
According to the Iraqi Oil Ministry spokesman Assem Jihad said Joachim, Rumaila oil field development project partners will be in August this year to sign a service contract.
Jul. 24, 2009
July 22, Iraqi Oil Minister Hussein Shahristani met in Baghdad largest oil company in Europe, No. 2 BP (BP) and the Chinese state-owned oil giant China National Petroleum Corporation (PetroChina) representatives, the two sides Rumaila field to discuss raising oil production plans. BP and PetroChina Shahristani request Rumaila oil fields to oil production from the current 95 million barrels per day to 2.85 million barrels per day.
Shahristani June 30 in the first post-war Iraq oil and gas field before the start of the auction said that Iraq will be through the development of six oil fields and two gas fields to the country's oil output from 2.4 million barrels to 400 million barrels per day. Iraq plans to hold its end of the year the sale of two tender to permit Iraq to increase oil production further to 600 million barrels per day.
According to the Iraqi Oil Ministry spokesman Assem Jihad said Joachim, Rumaila oil field development project partners will be in August this year to sign a service contract.
Jul. 24, 2009
U.S. Energy Secretary would like to maintain the stability of oil prices
Media Washington, July 18 reports, July 16, the U.S. government's energy minister, Steven Chu (Chu) called for an end to "volatile" oil prices, he believes that the volatility of oil prices to a large extent with the "far-sighted "relating to the speculation.
U.S. Energy Secretary called for more stable oil market to avoid any potential to endanger the economic recovery. Steven Zhu said that he had in six months oil prices more than 30 U.S. dollars a barrel from the low quickly elevated to the rank of more than 70 U.S. dollars per barrel was "disappointed."
U.S. Energy Secretary in an interview with reporters, made these remarks. He believes that oil prices caused in such a short period of time mainly due to sharp rise in the "visionary" market speculation rather than the basic principles. He said: "I have said over and over again, I will continue to do that, we are now the only hope is that the stability of oil prices as soon as possible."
Although the minister refused to Steven Chu of an appropriate price, but, he said that 150 U.S. dollars a barrel last summer's oil price is "high-shocking."
According to the Swiss financial company UBS said, the price of crude oil in the second half of this year is likely to reach 65 U.S. dollars a barrel, and then in 2010 to reach 70 U.S. dollars a barrel.
Jul. 20, 2009
U.S. Energy Secretary called for more stable oil market to avoid any potential to endanger the economic recovery. Steven Zhu said that he had in six months oil prices more than 30 U.S. dollars a barrel from the low quickly elevated to the rank of more than 70 U.S. dollars per barrel was "disappointed."
U.S. Energy Secretary in an interview with reporters, made these remarks. He believes that oil prices caused in such a short period of time mainly due to sharp rise in the "visionary" market speculation rather than the basic principles. He said: "I have said over and over again, I will continue to do that, we are now the only hope is that the stability of oil prices as soon as possible."
Although the minister refused to Steven Chu of an appropriate price, but, he said that 150 U.S. dollars a barrel last summer's oil price is "high-shocking."
According to the Swiss financial company UBS said, the price of crude oil in the second half of this year is likely to reach 65 U.S. dollars a barrel, and then in 2010 to reach 70 U.S. dollars a barrel.
Jul. 20, 2009
Total: Europe Q2 refining margin fell 69 percent year-on-year
Paris, July 15 news, No. 3 largest oil company in Europe, Europe's largest oil refining company Total of France said today that, due to weak demand for gasoline and diesel, European refineries Q2 refining margin of the same period last year dropped by 69%.
Total of France today in their company's Web site said that the European quarter of section 2 a barrel of crude oil into fuels refining profits from the same period last year dropped to 40.20 U.S. dollars per ton of 12.40 U.S. dollars or 1.69 U.S. dollars a barrel.
According to the Paris-based company said total, Europe Q2 refining margin than a quarter of this year, a decrease of 22.3 U.S. dollars per ton.
Since the 2nd World War has been the worst global economic downturn to force consumers to reduce travel and expenses, the demand for petroleum products also greatly reduced, leading to the refinery to further reduce the refining margin, oil refineries have reduce the operating rate and the temporary closure.
Total of France plans to cut its oil refinery in France, the largest number of employees and a reduction in production of petroleum products.
Jul. 16, 2009
Total of France today in their company's Web site said that the European quarter of section 2 a barrel of crude oil into fuels refining profits from the same period last year dropped to 40.20 U.S. dollars per ton of 12.40 U.S. dollars or 1.69 U.S. dollars a barrel.
According to the Paris-based company said total, Europe Q2 refining margin than a quarter of this year, a decrease of 22.3 U.S. dollars per ton.
Since the 2nd World War has been the worst global economic downturn to force consumers to reduce travel and expenses, the demand for petroleum products also greatly reduced, leading to the refinery to further reduce the refining margin, oil refineries have reduce the operating rate and the temporary closure.
Total of France plans to cut its oil refinery in France, the largest number of employees and a reduction in production of petroleum products.
Jul. 16, 2009
Russian crude oil exports to China will be 1.8 billion U.S. dollars a year income
Minister of Energy Government of the Russian Federation Sergey chashma July 3 Zitko said here today that Russia will be an estimated annual oil exports to China gained 57 billion rubles (1.8 billion U.S. dollars) of income.
Russia and China in October 2008 aimed at reaching a construction in East Siberia - Pacific Ocean (ESPO) oil pipeline branch to China pipeline agreement.
From the Russian Far East Skovorodino been extended to the Northeast China's Heilongjiang Province of China branch of the Mohe pipeline will be Russia's Siberian oil fields from the original oil to the northern region of China.
Zitko chashma that will be completed later in 2010 the Chinese branch of the pipeline construction cost is estimated at from 11 to 12 billion rubles (from 324,000,000 to 352,000,000 U.S. dollars).
Chashma Zitko said that Russia has to grasp the timely completion of the operations branch pipelines.
Jul. 12, 2009
Russia and China in October 2008 aimed at reaching a construction in East Siberia - Pacific Ocean (ESPO) oil pipeline branch to China pipeline agreement.
From the Russian Far East Skovorodino been extended to the Northeast China's Heilongjiang Province of China branch of the Mohe pipeline will be Russia's Siberian oil fields from the original oil to the northern region of China.
Zitko chashma that will be completed later in 2010 the Chinese branch of the pipeline construction cost is estimated at from 11 to 12 billion rubles (from 324,000,000 to 352,000,000 U.S. dollars).
Chashma Zitko said that Russia has to grasp the timely completion of the operations branch pipelines.
Jul. 12, 2009
Commodity Futures Trading Commission to crack down on oil market speculation
NYMEX crude oil futures due to factors that deviate from the fundamentals up 41 percent, the U.S. Commodity Futures Trading Commission (CFTC) or will be taken to crack down on crude oil and natural gas market speculation.
Media News July 8, the U.S. Commodity Futures Trading Commission said on the 7th, the Committee may approve of restrictions on energy futures contracts are held by the number of ways to crack down on crude oil and natural gas market speculators.
CFTC Chairman said Gary Gensler, the Commission will be 7 at the end of August and held hearings on the Government to impose restrictions on crude oil, natural gas and other energy market, speculative trading activities need to be discussed.
CFTC plans to hold hearings on the above-mentioned reason is that speculative activities on the crude oil price impact is increasingly caused by members of Congress and regulatory attention.
In the New York Mercantile Exchange (NYMEX) 2009 as at the transaction date, crude oil futures prices have risen 41 percent; while at the same time, demand for crude oil have been declining, while stocks have been on the rise.
Jul. 8, 2009
Media News July 8, the U.S. Commodity Futures Trading Commission said on the 7th, the Committee may approve of restrictions on energy futures contracts are held by the number of ways to crack down on crude oil and natural gas market speculators.
CFTC Chairman said Gary Gensler, the Commission will be 7 at the end of August and held hearings on the Government to impose restrictions on crude oil, natural gas and other energy market, speculative trading activities need to be discussed.
CFTC plans to hold hearings on the above-mentioned reason is that speculative activities on the crude oil price impact is increasingly caused by members of Congress and regulatory attention.
In the New York Mercantile Exchange (NYMEX) 2009 as at the transaction date, crude oil futures prices have risen 41 percent; while at the same time, demand for crude oil have been declining, while stocks have been on the rise.
Jul. 8, 2009
Kuwait: more than 100 USD in oil prices will harm the global economy
July 2nd news of Kuwait, Kuwait Oil Minister Sheikh Ahmad Abdullah Al-Sabah said here today that more than 100 U.S. dollars a barrel oil prices will seriously harm the global economy.
Oil prices today (July 2) in the New York Mercantile Exchange trading fell to 69 U.S. dollars a barrel, oil prices in the June 30 had reached the last 8 months to the highest level for more than 73 U.S. dollars a barrel. On the global economic recovery in oil prices led to optimism in Q2 of this year rose more than 40% the proportion of this increase is the highest since 1990, the proportion of the quarterly increase.
Al-Sabah is in the Parliament of the media made these remarks. He said that oil prices at the 3rd quarter and 4th quarter is expected to not more than 100 U.S. dollars, more than 100 U.S. dollars in oil prices will again fall into the plight of the global economy.
Al-Sabah said that oil prices have reached the Petroleum Exporting Countries (OPEC) in the second half of this year to seek to achieve the level of speculation in oil prices and a weaker U.S. dollar is behind the recent rise of the main factors.
Al-Sabah has repeatedly stressed that if the oil market is still over-supply, then OPEC meeting in September will not consider increasing oil production.
Source: www.in-en.com Jul. 4, 2009
Oil prices today (July 2) in the New York Mercantile Exchange trading fell to 69 U.S. dollars a barrel, oil prices in the June 30 had reached the last 8 months to the highest level for more than 73 U.S. dollars a barrel. On the global economic recovery in oil prices led to optimism in Q2 of this year rose more than 40% the proportion of this increase is the highest since 1990, the proportion of the quarterly increase.
Al-Sabah is in the Parliament of the media made these remarks. He said that oil prices at the 3rd quarter and 4th quarter is expected to not more than 100 U.S. dollars, more than 100 U.S. dollars in oil prices will again fall into the plight of the global economy.
Al-Sabah said that oil prices have reached the Petroleum Exporting Countries (OPEC) in the second half of this year to seek to achieve the level of speculation in oil prices and a weaker U.S. dollar is behind the recent rise of the main factors.
Al-Sabah has repeatedly stressed that if the oil market is still over-supply, then OPEC meeting in September will not consider increasing oil production.
Source: www.in-en.com Jul. 4, 2009
Putin signed July 1 to raise oil export tax from the
June 29 Moscow News, the Russian government in its official website today said that the international oil market as a result of rising crude oil prices, Russia's oil export tax from July 1 onwards from the current 152.8 U.S. dollars per ton to 212.6 per tonne dollars.
June 26, Russian Prime Minister Vladimir Putin signed the relevant from the starting July 1 to increase exports of petroleum and petroleum tax laws.
From July 1, the light of Russia's export duty on petroleum products from the current level of 115.2 U.S. dollars per tonne to 155.5 U.S. dollars, and heavy oil products export tax from the current level of 62.1 U.S. dollars per ton to 83.8 U.S. dollars.
In order to market more quickly respond to changes in the Russian government last year to amend the first time every two months ago crude oil and petroleum products export tax modification changed once every month. Russian oil exports to amend the Government to increase the number of tax is to reduce the national oil companies to export oil when oil prices will face losses.
As the global financial crisis curbed oil demand, oil prices in July last year from 147.27 U.S. dollars per barrel record high down to the start of the year about 40 U.S. dollars per barrel.
Oil prices in the past period of time to re-climbed to more than 70 U.S. dollars a barrel level.
Source: www.in-en.com Jun. 30, 2009
June 26, Russian Prime Minister Vladimir Putin signed the relevant from the starting July 1 to increase exports of petroleum and petroleum tax laws.
From July 1, the light of Russia's export duty on petroleum products from the current level of 115.2 U.S. dollars per tonne to 155.5 U.S. dollars, and heavy oil products export tax from the current level of 62.1 U.S. dollars per ton to 83.8 U.S. dollars.
In order to market more quickly respond to changes in the Russian government last year to amend the first time every two months ago crude oil and petroleum products export tax modification changed once every month. Russian oil exports to amend the Government to increase the number of tax is to reduce the national oil companies to export oil when oil prices will face losses.
As the global financial crisis curbed oil demand, oil prices in July last year from 147.27 U.S. dollars per barrel record high down to the start of the year about 40 U.S. dollars per barrel.
Oil prices in the past period of time to re-climbed to more than 70 U.S. dollars a barrel level.
Source: www.in-en.com Jun. 30, 2009
Toyota believes that global oil production may peak by 2015
Toyota Motor Europe Group Environmental Affairs Manager Willy Tomboy Thursday and logistics in the oil Tankbank meeting said that global oil production may peak in the years 2012-2015, and then began to decline.
Global peak oil production is increasingly approaching the possibility that this will stimulate the hybrid and electric vehicle development, improve fuel efficiency and find alternative fuels.
Tomboy said that although the current peak of oil production is still controversial, but there are many scientific publications that this could happen.
Current hybrid vehicles, Toyota Europe accounted for 5.3% of sales, but Toyota is expected to hybrid vehicles in 2030 will rule the automobile market.
Source: www.in-en.com Jun. 26, 2009
Global peak oil production is increasingly approaching the possibility that this will stimulate the hybrid and electric vehicle development, improve fuel efficiency and find alternative fuels.
Tomboy said that although the current peak of oil production is still controversial, but there are many scientific publications that this could happen.
Current hybrid vehicles, Toyota Europe accounted for 5.3% of sales, but Toyota is expected to hybrid vehicles in 2030 will rule the automobile market.
Source: www.in-en.com Jun. 26, 2009
OPEC President: 70 U.S. dollars a barrel oil is a satisfactory
Media Luanda on June 20 reported that the Organization of Petroleum Exporting Countries (OPEC) President Jose de Vasconcelos 6 on 18 in the media here said that 70 U.S. dollars per barrel of oil is the oil-producing countries, whether for consumption or for oil States are at a satisfactory price.
At the same time as in Angola's Oil Minister Jose de Vasconcelos, said the rise in oil prices on the world economy is a positive signal. If oil prices remain at its present level, then OPEC is not necessary this year to cut oil production again.
OPEC implemented in a record deal with plans to cut oil prices plummeted in the second half of last year after 100 U.S. dollars, crude oil futures prices so far this year in the New York Mercantile Exchange trading up 60%. June 18, crude oil futures prices closed at 71 U.S. dollars a barrel.
Jose de Vasconcelos said that Angola may try to consult member countries in OPEC oil production quota re-allocation to increase their oil production. OPEC for oil production in Angola identified target is 1.656 million barrels per day.
Source: www.in-en.com Jun. 22, 2009
At the same time as in Angola's Oil Minister Jose de Vasconcelos, said the rise in oil prices on the world economy is a positive signal. If oil prices remain at its present level, then OPEC is not necessary this year to cut oil production again.
OPEC implemented in a record deal with plans to cut oil prices plummeted in the second half of last year after 100 U.S. dollars, crude oil futures prices so far this year in the New York Mercantile Exchange trading up 60%. June 18, crude oil futures prices closed at 71 U.S. dollars a barrel.
Jose de Vasconcelos said that Angola may try to consult member countries in OPEC oil production quota re-allocation to increase their oil production. OPEC for oil production in Angola identified target is 1.656 million barrels per day.
Source: www.in-en.com Jun. 22, 2009
Bolivian oil and gas exploration investment this year will be 1.05 billion USD
According to the Venezuelan media in Los Angeles on June 17 reported that the Bolivian national oil company (YPFB) 6 said on 16, Bolivia this year, oil and gas exploration and production of national and private investment will reach 1.05 billion U.S. dollars.
The Bolivian national oil company said in a statement, the state of all YPFB-Andina will this year invest in oil and gas exploration and production of 89 million U.S. dollars, and this year, YPFB-Chaco company plans to invest in oil and gas exploration and production of 55 million U.S. dollars. Investment budget of other companies, including Petrobras of 174.5 million U.S. dollars, Repsol of Spain's 109 million U.S. dollars, British Gas Group, 88 million U.S. dollars, the French company Total and 48 million U.S. dollars of Pluspetrol's 26 million U.S. dollars.
During this period, in order to increase the income of the company YPFB, the Bolivian Government has issued a decree to force the oil companies needed to local oil services contract before the commission provided to the country's state-run oil company.
Under the Act, the local oil companies must first oil service contract or contract to provide equipment to the company YPFB (no matter how much the value of the contract), and YPFB will be made within 10 days to accept or reject such a decision provided.
Source: www.in-en.com Jun. 18, 2009
The Bolivian national oil company said in a statement, the state of all YPFB-Andina will this year invest in oil and gas exploration and production of 89 million U.S. dollars, and this year, YPFB-Chaco company plans to invest in oil and gas exploration and production of 55 million U.S. dollars. Investment budget of other companies, including Petrobras of 174.5 million U.S. dollars, Repsol of Spain's 109 million U.S. dollars, British Gas Group, 88 million U.S. dollars, the French company Total and 48 million U.S. dollars of Pluspetrol's 26 million U.S. dollars.
During this period, in order to increase the income of the company YPFB, the Bolivian Government has issued a decree to force the oil companies needed to local oil services contract before the commission provided to the country's state-run oil company.
Under the Act, the local oil companies must first oil service contract or contract to provide equipment to the company YPFB (no matter how much the value of the contract), and YPFB will be made within 10 days to accept or reject such a decision provided.
Source: www.in-en.com Jun. 18, 2009
Saudi Arabia warned that oil prices may be a breakthrough in the last 3 years, the highest level
According to Arab media in Riyadh on June 15 reported that the world's largest oil exporter Saudi Arabia, recently warned that unless the other oil-producing countries, together with the Kingdom of Saudi Arabia to expand oil production capacity to invest sufficient funds to the project, otherwise, the oil price in the future 3 years is entirely possible once again soared to a record last year, more than the historical record.
Government-controlled Saudi Aramco said that the second half of last year's sharp fall in crude oil prices is only a temporary phenomenon, oil demand in the near future will increase substantially.
Saudi Aramco chief representative in Beijing said: "We must recognize that lower oil prices not only for the oil-producing country's economy harmful, but also the interests of oil-consuming countries are also harmful. Therefore, sustained and timely investment in oil and infrastructure projects on the supply of the future at the appropriate level is very important. " "The current oil price simply can not encourage large-scale investment necessary and, if no such investment, should demand the restoration in the future, we may be experiencing a serious shortage of supply."
Source: www.in-en.com Jun. 17, 2009
Government-controlled Saudi Aramco said that the second half of last year's sharp fall in crude oil prices is only a temporary phenomenon, oil demand in the near future will increase substantially.
Saudi Aramco chief representative in Beijing said: "We must recognize that lower oil prices not only for the oil-producing country's economy harmful, but also the interests of oil-consuming countries are also harmful. Therefore, sustained and timely investment in oil and infrastructure projects on the supply of the future at the appropriate level is very important. " "The current oil price simply can not encourage large-scale investment necessary and, if no such investment, should demand the restoration in the future, we may be experiencing a serious shortage of supply."
Source: www.in-en.com Jun. 17, 2009
Five countries in Africa have proven oil reserves of more than 5 billion barrels
News June 15, Africa has been growing for the global oil market. As of January 2009, the five countries in Africa have proven oil reserves of more than 50 million barrels. Which Libya's proven oil reserves to 43 billion barrels ranks of Africa's largest proven oil reserves, Nigeria to 36 billion barrels of proven oil reserves rank second, third and fifth, respectively, are Algeria, 12 billion barrels, Angola and Sudan 9 billion barrels of 5 billion barrels.
Source: www.in-en.com Jun. 16, 2009
Source: www.in-en.com Jun. 16, 2009
Russia to raise oil export tariffs on 25%
Russian Ministry of Finance said on the 15th from the beginning of July to raise oil export tariffs on 25 percent, which is the price of crude oil rose after Russia's latest actions to improve revenue.
Russian Ministry of Finance is responsible for the Customs and Excise Department to pay people to Interfax, said Alexander Sakovich, export duties per tonne of oil rose to 152.80 U.S. dollars from 212.60 U.S. dollars, came into effect July 1.
Russian oil company in 2008 began to reduce tariffs on oil exports due to crude oil prices dropped to a historic low point, but began to rise again as oil prices to increase.
Last week, oil prices soared to more than 73 U.S. dollars a barrel, on the 11th founding in 2009 the level of 73.23 U.S. dollars the maximum, October 2008 is the highest level since.
Source: www.in-en.com Jun. 15, 2009
Russian Ministry of Finance is responsible for the Customs and Excise Department to pay people to Interfax, said Alexander Sakovich, export duties per tonne of oil rose to 152.80 U.S. dollars from 212.60 U.S. dollars, came into effect July 1.
Russian oil company in 2008 began to reduce tariffs on oil exports due to crude oil prices dropped to a historic low point, but began to rise again as oil prices to increase.
Last week, oil prices soared to more than 73 U.S. dollars a barrel, on the 11th founding in 2009 the level of 73.23 U.S. dollars the maximum, October 2008 is the highest level since.
Source: www.in-en.com Jun. 15, 2009
IEA raised the second quarter of global crude oil processing capacity
London News June 11, the International Energy Agency (IEA) on Thursday raised the second quarter of this year, the world's crude oil processing volume is expected, mainly due to increased crude oil processing and marketing of global demand for crude oil is optimistic about recovery.
In the monthly report IEA said global hike this month, the expected volume of crude oil processed, which is mainly based on the following reasons: the Organization for Economic Cooperation and Development (OECD) countries in April released the preliminary data has improved, China close to a record volume of crude oil processed level and is expected to slightly increase the global demand for crude oil.
IEA expects the second quarter of global crude oil processing capacity will reach an average of 7,130 million barrels of daily processing of more than a day before the expected average processing volume increased by 20 million barrels per day. The second quarter of the world's daily crude oil processing capacity will decline over the same period last year 2.9 million barrels a day.
IEA also expects the third quarter of global crude oil processing volume to increase over the second quarter of 1.5 million barrels a day.
Source: www.in-en.com Jun. 14, 2009
In the monthly report IEA said global hike this month, the expected volume of crude oil processed, which is mainly based on the following reasons: the Organization for Economic Cooperation and Development (OECD) countries in April released the preliminary data has improved, China close to a record volume of crude oil processed level and is expected to slightly increase the global demand for crude oil.
IEA expects the second quarter of global crude oil processing capacity will reach an average of 7,130 million barrels of daily processing of more than a day before the expected average processing volume increased by 20 million barrels per day. The second quarter of the world's daily crude oil processing capacity will decline over the same period last year 2.9 million barrels a day.
IEA also expects the third quarter of global crude oil processing volume to increase over the second quarter of 1.5 million barrels a day.
Source: www.in-en.com Jun. 14, 2009
EU security of oil reserves through the legislative proposals
EU Energy Council of Ministers in Luxembourg on the 12th through the European Commission concerning the security of oil reserves legislative proposal to strengthen the EU to deal with oil supply crisis.
The European Commission in Brussels issued a statement the same day, the adoption of legislative proposals welcomed. European Commission member responsible for energy affairs, Piebalgs said: "The new legislation will enable the EU oil reserves closer to the current international practice, thus enhancing the efficient use of oil reserves the EU's ability to reduce their future energy supply crisis for consumers the potential negative impact. "
The European Commission said in a statement that the International Energy Agency in accordance with established practice, the future EU member states must maintain reserves of not less than 90 days of its oil imports oil. The new legislation requires EU member states to enhance the utilization rate of oil reserves, oil reserves that can not be secured, it can not be used for other purposes.
New legislation requiring the holder of oil reserves must be a member or members of the central part of inventory entities, or to achieve the same level of agreement institutions. The new legislation also gives the EU new powers, such as Member States can monitor and review stock of oil reserves so that these reserves can effectively deal with possible energy supply crisis. Without the consent of the European Union must not use a large amount of oil reserves.
The European Commission proposed in November last year on the safety of the oil reserves of legislative proposals. The EU Council of Ministers after the passage of energy, from the European Union published official documents from the date of, the legislative proposals will become an official EU regulations, EU member states should be progressively implemented in accordance with their respective situations, but not later than 2012 December 31.
Source: www.in-en.com Jun. 13, 2009
The European Commission in Brussels issued a statement the same day, the adoption of legislative proposals welcomed. European Commission member responsible for energy affairs, Piebalgs said: "The new legislation will enable the EU oil reserves closer to the current international practice, thus enhancing the efficient use of oil reserves the EU's ability to reduce their future energy supply crisis for consumers the potential negative impact. "
The European Commission said in a statement that the International Energy Agency in accordance with established practice, the future EU member states must maintain reserves of not less than 90 days of its oil imports oil. The new legislation requires EU member states to enhance the utilization rate of oil reserves, oil reserves that can not be secured, it can not be used for other purposes.
New legislation requiring the holder of oil reserves must be a member or members of the central part of inventory entities, or to achieve the same level of agreement institutions. The new legislation also gives the EU new powers, such as Member States can monitor and review stock of oil reserves so that these reserves can effectively deal with possible energy supply crisis. Without the consent of the European Union must not use a large amount of oil reserves.
The European Commission proposed in November last year on the safety of the oil reserves of legislative proposals. The EU Council of Ministers after the passage of energy, from the European Union published official documents from the date of, the legislative proposals will become an official EU regulations, EU member states should be progressively implemented in accordance with their respective situations, but not later than 2012 December 31.
Source: www.in-en.com Jun. 13, 2009
ExxonMobil and the pan-Canadian plan to build the world's largest energy projects
Exxon Mobil Corporation, said on the 11th, ExxonMobil and Canada will join the Pan-Canadian companies to build the world's largest energy projects - a 26 billion U.S. dollars worth of natural gas pipelines. A few days ago, the two companies are the details on the matter of consultation.
Pan-Canadian company said on the 11th, the Pan-Canadian companies, Exxon Mobil Corporation will jointly build an Alaskan North Slope natural gas to Chicago and other places large pipeline. According to statistics, the pipeline will run for about 2700 kilometers, the project cost about 26 billion U.S. dollars.
Oil giant Exxon Mobil Corporation's participation, the Pan-Canadian companies to increase the winning chips. Analysts point out that Exxon Mobil Corporation with the cooperation, as well as the Alaska government, the United States and the Canadian government and other stakeholders of the strong support of this project will undoubtedly contribute to a timely completion.
Meanwhile, ConocoPhillips and British Petroleum (BP PLC) is the joint development of a competitive pipeline. Prior to the two projects are to seek the support of Exxon Mobil Corporation, Exxon Mobil Corporation The reason is that control of the Alaskan North Slope natural gas resources in the largest share.
Source: www.in-en.com Jun. 12, 2009
Pan-Canadian company said on the 11th, the Pan-Canadian companies, Exxon Mobil Corporation will jointly build an Alaskan North Slope natural gas to Chicago and other places large pipeline. According to statistics, the pipeline will run for about 2700 kilometers, the project cost about 26 billion U.S. dollars.
Oil giant Exxon Mobil Corporation's participation, the Pan-Canadian companies to increase the winning chips. Analysts point out that Exxon Mobil Corporation with the cooperation, as well as the Alaska government, the United States and the Canadian government and other stakeholders of the strong support of this project will undoubtedly contribute to a timely completion.
Meanwhile, ConocoPhillips and British Petroleum (BP PLC) is the joint development of a competitive pipeline. Prior to the two projects are to seek the support of Exxon Mobil Corporation, Exxon Mobil Corporation The reason is that control of the Alaskan North Slope natural gas resources in the largest share.
Source: www.in-en.com Jun. 12, 2009
IEA: 2009 global oil demand to reduce the 2.47 million barrels per day
London News June 11, the International Energy Agency (IEA) said global oil demand this year will shrink less than the previously forecast range, the first time in nearly a year because of increase in global oil demand in 2009. Oil demand forecast on the amendment earlier this year because of stronger than expected demand in developed countries, which is in August 2008 the first time since the revised IEA forecast demand.
IEA in its monthly oil market report that "the amendment does not necessarily imply that the global economy started to recover, may only signal the economy has bottomed out."
2009 world oil demand forecast on 2.47 million barrels per day is expected to shrink to 8,330 million barrels per day. On the previous IEA oil demand is expected to shrink 2.56 million barrels per day. IEA says oil output in May to increase the discharge rate of OPEC production agreement in April from 76% to 74%.
Source: www.in-en.com Jun. 11, 2009
IEA in its monthly oil market report that "the amendment does not necessarily imply that the global economy started to recover, may only signal the economy has bottomed out."
2009 world oil demand forecast on 2.47 million barrels per day is expected to shrink to 8,330 million barrels per day. On the previous IEA oil demand is expected to shrink 2.56 million barrels per day. IEA says oil output in May to increase the discharge rate of OPEC production agreement in April from 76% to 74%.
Source: www.in-en.com Jun. 11, 2009
March crude oil from Saudi Arabia, the United States on imports dropped to 944,000 barrels per day
LONDON, June 8 report, the U.S. Energy Information Administration (EIA) today released the latest statistics show that the world's largest oil exporter Saudi Arabia in March to a daily average of 944,000 barrels of U.S. crude oil exports, which is the United States since 1993 October crude oil in Saudi Arabia since the minimum monthly imports, the United States in October 1993 in the average daily crude oil imports of 969,000 barrels of Saudi Arabia.
Saudi Arabia, the United States imports of crude oil in March than in February's 1.099 million barrels of Saudi crude oil import volume on a daily reduction of 15.5 million barrels, the United States in February of Saudi crude oil imports in March 1994 was the lowest since on imports.
As a result of oil prices in July last year climbed to 147.27 U.S. dollars a barrel record, Organization of Petroleum Exporting Countries (OPEC) in Saudi Arabia's largest oil producer last year, an increase of oil production.
Saudi Arabia, the United States last year, crude oil imports in July last year reached 1.661 million barrels / day, the figure in December last year fell to 1.394 million barrels / day. U.S. Energy Information Administration statistics show that U.S. imports of crude oil in Saudi Arabia in July 2008 and March 2009 down to between 717,000 barrels / day.
Source: www.in-en.com Jun. 10, 2009
Saudi Arabia, the United States imports of crude oil in March than in February's 1.099 million barrels of Saudi crude oil import volume on a daily reduction of 15.5 million barrels, the United States in February of Saudi crude oil imports in March 1994 was the lowest since on imports.
As a result of oil prices in July last year climbed to 147.27 U.S. dollars a barrel record, Organization of Petroleum Exporting Countries (OPEC) in Saudi Arabia's largest oil producer last year, an increase of oil production.
Saudi Arabia, the United States last year, crude oil imports in July last year reached 1.661 million barrels / day, the figure in December last year fell to 1.394 million barrels / day. U.S. Energy Information Administration statistics show that U.S. imports of crude oil in Saudi Arabia in July 2008 and March 2009 down to between 717,000 barrels / day.
Source: www.in-en.com Jun. 10, 2009
The next 10 years oil and gas fields of Egypt is expected to attract 20 billion USD investment
Dubai June 8 news, the Egyptian oil and gas fields of the next decade is expected to attract 20 billion U.S. dollars investment, the majority of investment will be used for exploration of the Mediterranean deep water oil and gas resources in the region.
Egyptian Oil Minister Sameh Fahmi said that in the past five months, the Government of Egypt to the United States, Britain, Italy and the United Arab Emirates company has been granted 17 new contracts worth 3.5 billion U.S. dollars at least. Over the same period, the Egyptian and international companies have already signed a 1.6 billion U.S. dollars worth of contracts.
In the past decade, Egypt has increased twice as much natural gas reserves rose to 76 trillion cubic feet.
Source: www.in-en.com Jun. 9, 2009
Egyptian Oil Minister Sameh Fahmi said that in the past five months, the Government of Egypt to the United States, Britain, Italy and the United Arab Emirates company has been granted 17 new contracts worth 3.5 billion U.S. dollars at least. Over the same period, the Egyptian and international companies have already signed a 1.6 billion U.S. dollars worth of contracts.
In the past decade, Egypt has increased twice as much natural gas reserves rose to 76 trillion cubic feet.
Source: www.in-en.com Jun. 9, 2009
Areas of the world's oil and gas upstream investments and operating costs are falling
According to HIS Cambridge Energy Research Associates (HIS CERA) latest research report shows that over the past six months, the global upstream oil and gas production facilities in the area of the capital cost of a decrease of 8.5% in the same period last year, this is the first show that investment in the oil and gas industry is the decline in specific indicators. In 2005-2008, the global upstream oil and gas production facilities in the area of the capital cost of an increase of two times.
At the same time in the past six months, the operating costs of the global upstream oil and gas index fell by 8%, the index reflects the operating costs of those projects.
It is reported that the decline in investment costs was attributable to decreased activity of the upstream oil and gas industry, iron and steel and submarine equipment, the impact of lower costs. The decline in operating costs by the project activity, as well as the impact of the decline in resource utilization.
Source: www.in-en.com Jun. 8, 2009
At the same time in the past six months, the operating costs of the global upstream oil and gas index fell by 8%, the index reflects the operating costs of those projects.
It is reported that the decline in investment costs was attributable to decreased activity of the upstream oil and gas industry, iron and steel and submarine equipment, the impact of lower costs. The decline in operating costs by the project activity, as well as the impact of the decline in resource utilization.
Source: www.in-en.com Jun. 8, 2009
OPEC oil prices early in 2010 the Secretary-General is expected to rise to 80-90 dollars per barrel
OPEC Secretary-General said Tuesday, oil prices early next year could reach USD 80-90 per barrel, but a significant supply of oil unless the excess has been digested, or OPEC will not increase.
OPEC Secretary-General Abdullah al-Badri in the Reuters Global Energy Summit, said oil prices may rise to 80-90 in the U.S. early in 2010, and will not fall; the end of this year is expected to reach 75 U.S. dollars, and if the demand is not as they are now weak, but picked up from month to month U.S. Dollar ,80-85 are also possible. Last week, Saudi Oil Minister said that later this year may reach 75 U.S. dollars in oil prices, but will not hurt just to show signs of recovery in the global economy, since OPEC officials continue to preach loud expectations of rising oil prices.
Source: www.in-en.com Jun. 7, 2009
OPEC Secretary-General Abdullah al-Badri in the Reuters Global Energy Summit, said oil prices may rise to 80-90 in the U.S. early in 2010, and will not fall; the end of this year is expected to reach 75 U.S. dollars, and if the demand is not as they are now weak, but picked up from month to month U.S. Dollar ,80-85 are also possible. Last week, Saudi Oil Minister said that later this year may reach 75 U.S. dollars in oil prices, but will not hurt just to show signs of recovery in the global economy, since OPEC officials continue to preach loud expectations of rising oil prices.
Source: www.in-en.com Jun. 7, 2009
UN: the first time in more than investment in green energy investment in fossil fuels
United Nations data released today show that last year more than green energy investment in fossil fuel power generation more attractive, which is the first time in history.
Wind, solar and other environmentally friendly technology has attracted 140 billion U.S. dollars of investment, compared to natural gas for power generation and coal of 110 billion U.S. dollars investment. This 140 billion in cash, more than one-third of the green was voted to the United Kingdom and other European countries.
Renewable energy investment is the largest growth in China, India and other developing countries. Them to stop using fossil fuels in order to enhance energy security, addressing climate change, is rapidly catching up with Western countries.
United Nations Environment Program Executive Director Achim Steiner said, "In recent years we have reached many milestones, but this report shows that renewable energy has now reached a critical point. In the global energy mix, it and fossil fuels are equally important (if not more important). "He added that a variety of new types of renewable energy is attracting capital, at the same time in different regions, such as Kenya, Angola, also joined recently, so this is a very encouraging thing.
The United Nations continues to believe that between 2009 to 2011, also need to invest in the world 750 billion U.S. dollars. The first quarter of this year for investment in renewable energy is a disturbing decline of 53% to 13.3 billion U.S. dollars.
Source: www.in-en.com Jun. 6, 2009
Wind, solar and other environmentally friendly technology has attracted 140 billion U.S. dollars of investment, compared to natural gas for power generation and coal of 110 billion U.S. dollars investment. This 140 billion in cash, more than one-third of the green was voted to the United Kingdom and other European countries.
Renewable energy investment is the largest growth in China, India and other developing countries. Them to stop using fossil fuels in order to enhance energy security, addressing climate change, is rapidly catching up with Western countries.
United Nations Environment Program Executive Director Achim Steiner said, "In recent years we have reached many milestones, but this report shows that renewable energy has now reached a critical point. In the global energy mix, it and fossil fuels are equally important (if not more important). "He added that a variety of new types of renewable energy is attracting capital, at the same time in different regions, such as Kenya, Angola, also joined recently, so this is a very encouraging thing.
The United Nations continues to believe that between 2009 to 2011, also need to invest in the world 750 billion U.S. dollars. The first quarter of this year for investment in renewable energy is a disturbing decline of 53% to 13.3 billion U.S. dollars.
Source: www.in-en.com Jun. 6, 2009
Goldman Sachs forecast oil prices to the end of the year to 85 USD per barrel
Washington, June 4 news, the world's oldest and one of the largest bank of Goldman Sachs in a report today that Goldman Sachs recently put its 2009 forecast for oil prices from 65 U.S. dollars a barrel to each 85 U.S. dollars a barrel and the end of next year forecast oil prices to 95 U.S. dollars a barrel.
June 3, the oil from the United States in December last year the past 5 years the lowest point since risen to 32.40 U.S. dollars a barrel over the past 7 months to a new high of 69.05 U.S. dollars a barrel.
Goldman Sachs said that due to economic stability and continue to cut OPEC oil supply, the company expects second half of this year oil prices will continue to rise. Since September last year, OPEC members have agreed on production by 4.2 million barrels of oil, but OPEC has so far completed 80% of the production target, these factors have contributed to rising oil prices. However, even if OPEC to increase oil production next year, but due to the lack of investment, may be next year's supply is still insufficient.
Source: www.in-en.com Jun. 5, 2009
June 3, the oil from the United States in December last year the past 5 years the lowest point since risen to 32.40 U.S. dollars a barrel over the past 7 months to a new high of 69.05 U.S. dollars a barrel.
Goldman Sachs said that due to economic stability and continue to cut OPEC oil supply, the company expects second half of this year oil prices will continue to rise. Since September last year, OPEC members have agreed on production by 4.2 million barrels of oil, but OPEC has so far completed 80% of the production target, these factors have contributed to rising oil prices. However, even if OPEC to increase oil production next year, but due to the lack of investment, may be next year's supply is still insufficient.
Source: www.in-en.com Jun. 5, 2009
Only 30% of global oil reserves can be pumped out of existing technology
Abu Dhabi, June 2 news, the Kuwait Oil Company (KOC) Chairman Sami Al-Rusheid 6 on 2 in here, the world's reserves in the ground for about 30% of oil reserves (equivalent to 3500 billion barrels) can be through the use of existing technology as well as some of the methods being developed to be pumped out.
Rusheid held in the Abu Dhabi National Oil Company Conference of global made these remarks. He said: "We need to find to replace depleted reserves of the approach, however, the challenges we are facing a higher risk."
Rusheid said that the successful application of three-dimensional seismic technology, better technology and enhanced oil recovery drilling technology, oil recovery may be increased to 30-35% or more. There is no exploitation of the oil out is "the money buried in the ground", is currently buried in the ground floor of approximately 3,500 billion barrels of oil are recoverable reserves.
About more than two thirds of the world's oil reserves owned by the OPEC members, most of which focused on countries in the Middle East, and in these countries, the oil industry by the state oil company control.
Source: www.in-en.com Jun. 4, 2009
Rusheid held in the Abu Dhabi National Oil Company Conference of global made these remarks. He said: "We need to find to replace depleted reserves of the approach, however, the challenges we are facing a higher risk."
Rusheid said that the successful application of three-dimensional seismic technology, better technology and enhanced oil recovery drilling technology, oil recovery may be increased to 30-35% or more. There is no exploitation of the oil out is "the money buried in the ground", is currently buried in the ground floor of approximately 3,500 billion barrels of oil are recoverable reserves.
About more than two thirds of the world's oil reserves owned by the OPEC members, most of which focused on countries in the Middle East, and in these countries, the oil industry by the state oil company control.
Source: www.in-en.com Jun. 4, 2009
Bolivia this year, investment in oil exploration will be more than 1 billion USD
News June 2, Bolivia Bolivian state-owned oil giant national oil company (YPFB) in Bolivia and the private oil companies operating in Bolivia this year, will invest in oil exploration and production of more than 1 billion dollars.
The Bolivian national oil company will invest this year 567 million U.S. dollars for development aimed at the separation of gas and oil refining infrastructure, and complement domestic oil and gas and liquid fuel market.
Meanwhile, in Bolivia this year, foreign oil companies operating in Bolivia will be the oil exploration and production of 625.5 million U.S. dollars investment. These foreign oil companies including Brazil's National Petroleum (Bolivia), Spain's Repsol, British Gas (Bolivia), Inc., energy company Petrobras of Brazil, Vintage companies, national oil company of Peru, Matpetrol company Total exploration and production ( Bolivia) company, Dongwon companies and energy companies in Canada.
Source: www.in-en.com Jun. 3, 2009
The Bolivian national oil company will invest this year 567 million U.S. dollars for development aimed at the separation of gas and oil refining infrastructure, and complement domestic oil and gas and liquid fuel market.
Meanwhile, in Bolivia this year, foreign oil companies operating in Bolivia will be the oil exploration and production of 625.5 million U.S. dollars investment. These foreign oil companies including Brazil's National Petroleum (Bolivia), Spain's Repsol, British Gas (Bolivia), Inc., energy company Petrobras of Brazil, Vintage companies, national oil company of Peru, Matpetrol company Total exploration and production ( Bolivia) company, Dongwon companies and energy companies in Canada.
Source: www.in-en.com Jun. 3, 2009
The EU will revise the provisions of the emergency oil reserves
Europe is about to adopt amendments to 40 years, the provisions of the emergency oil reserves to keep pace with the development of the International Energy Agency IEA system. Emergency oil reserve is aimed at the creation of the accidents occur when the oil crisis to ensure that the national energy supply.
Over the past few decades, the EU can not help but become very dependent on Russian energy supplies, it has called upon member states to adopt stringent new measures to enhance energy security.
According to Reuters at the meeting of European ambassadors next week before the draft document shows that the EU's total oil inventories must be at least equivalent to an average of 90 days or imports an average of 61 days consumption. "The proposed amendments to the provisions of the most important purpose is to enable the EU oil stocks system IEA closer to the system, inventory system to allow a higher safety, fewer administrative burdens." A diplomatic source said.
Source: www.in-en.com Jun. 2, 2009
Over the past few decades, the EU can not help but become very dependent on Russian energy supplies, it has called upon member states to adopt stringent new measures to enhance energy security.
According to Reuters at the meeting of European ambassadors next week before the draft document shows that the EU's total oil inventories must be at least equivalent to an average of 90 days or imports an average of 61 days consumption. "The proposed amendments to the provisions of the most important purpose is to enable the EU oil stocks system IEA closer to the system, inventory system to allow a higher safety, fewer administrative burdens." A diplomatic source said.
Source: www.in-en.com Jun. 2, 2009
Venezuela's national oil company to take over 60 oil service companies
May 7, Venezuela enacted a "national foundation in charge of the oil industry activities related to assets and Services Act." The next day, President Hugo Chavez announced that 60 domestic oil service companies of all by the Venezuelan national oil company (PDVSA) to take over.
This time, take over the oil services company, so that Chavez's "oil sovereignty" strategy and a big step.
As the world's fifth largest oil exporter and the only OPEC member in Latin America, Venezuela has the oil industry as its economic pillars. However, the implementation of the last century 90's "oil opening" policy that lifeline to a large extent left in the hands of the hands of foreign companies. Therefore, took office, Chavez will be "nationalized scalpel," the first draw to the oil industry.
For the Venezuelan government is concerned, the benefits of doing so is obvious, as the country's energy and oil minister Rafael Ramirez has said, the move was "not only to reduce production costs, it can substantially increase the Government's oil revenues."
But the industry pointed out that Venezuela's oil production over the past decade due to insufficient investment has fallen sharply, and the incident is likely to further "scare" oil investors to finance the original oil on stretched deeper experience of the Venezuelan financial distress may result in a sharp fall in crude oil production.
At present, foreign companies have been the nationalization of Chavez expressed strong dissatisfaction with the strategy. U.S. marine drilling NSK international oil companies is one of them. In January this year, the Government commissioned the company to force the collection of a set of oil drilling equipment, NSK international counter-attack immediately, the company suspended all drilling operations committee, and requested the Commission to pay PDVSA partners after the 35.5 million U.S. dollars in arrears contract.
Source: www.in-en.com Jun. 1, 2009
This time, take over the oil services company, so that Chavez's "oil sovereignty" strategy and a big step.
As the world's fifth largest oil exporter and the only OPEC member in Latin America, Venezuela has the oil industry as its economic pillars. However, the implementation of the last century 90's "oil opening" policy that lifeline to a large extent left in the hands of the hands of foreign companies. Therefore, took office, Chavez will be "nationalized scalpel," the first draw to the oil industry.
For the Venezuelan government is concerned, the benefits of doing so is obvious, as the country's energy and oil minister Rafael Ramirez has said, the move was "not only to reduce production costs, it can substantially increase the Government's oil revenues."
But the industry pointed out that Venezuela's oil production over the past decade due to insufficient investment has fallen sharply, and the incident is likely to further "scare" oil investors to finance the original oil on stretched deeper experience of the Venezuelan financial distress may result in a sharp fall in crude oil production.
At present, foreign companies have been the nationalization of Chavez expressed strong dissatisfaction with the strategy. U.S. marine drilling NSK international oil companies is one of them. In January this year, the Government commissioned the company to force the collection of a set of oil drilling equipment, NSK international counter-attack immediately, the company suspended all drilling operations committee, and requested the Commission to pay PDVSA partners after the 35.5 million U.S. dollars in arrears contract.
Source: www.in-en.com Jun. 1, 2009
Russia plans to begin construction next month of the oil pipeline through the Baltic Sea
According to the media in Moscow on May 28 reported that the Russian pipeline giant Russian state oil pipeline transport company (Transneft) 5 27 in here that Russia plans to start next month the construction of a direct access to the Baltic Sea oil pipeline.
Transneft said the project will allow Russia to bypass Belarus exports one million barrels per day of Russian oil.
In neighboring Belarus and the former Soviet Union, the dispute took place in 2006, broke through the Druzhba pipeline to transport oil to Europe, the Russian state oil pipeline transport company had initially proposed to expand to near the Russian port of Primorsk in the Baltic Sea Ust-Luga capacity of the gas pipeline system.
Source: www.in-en.com May. 31, 2009
Transneft said the project will allow Russia to bypass Belarus exports one million barrels per day of Russian oil.
In neighboring Belarus and the former Soviet Union, the dispute took place in 2006, broke through the Druzhba pipeline to transport oil to Europe, the Russian state oil pipeline transport company had initially proposed to expand to near the Russian port of Primorsk in the Baltic Sea Ust-Luga capacity of the gas pipeline system.
Source: www.in-en.com May. 31, 2009
Oil prices in May rose by almost 30% in a decade a single month record
May 29 New York news, the depreciation of the dollar and a number of countries in support of positive economic data, international oil prices on the 29th consecutive trading days up fifth.
As the market economy growing optimism, some investors began to seek a number of high-risk high-return investment products, the dollar was therefore reduction. In the foreign exchange market, the U.S. dollar against the euro this year, the 1.41:1 ratio fell to its lowest level, which eventually led to including crude oil and other dollar-denominated commodity futures prices rose.
In addition, the United States, India and Japan, released the same day a series of economic data are better than market expectations, which allows investors to believe that the global economy during the worst has passed and the demand for crude oil would hope that with the economic recovery in the second half growth .
To the day when the market closed, the New York Mercantile Exchange for delivery in July the price of light crude oil futures rose 1.23 U.S. dollars to close at 66.31 U.S. dollars a barrel. London Brent crude-oil futures rose 1.13 U.S. dollars to close at 65.52 U.S. dollars a barrel.
So far this year, international oil prices in May rose by almost 30%, in March 1999 for the largest single month since the rise.
Source: www.in-en.com May. 30, 2009
As the market economy growing optimism, some investors began to seek a number of high-risk high-return investment products, the dollar was therefore reduction. In the foreign exchange market, the U.S. dollar against the euro this year, the 1.41:1 ratio fell to its lowest level, which eventually led to including crude oil and other dollar-denominated commodity futures prices rose.
In addition, the United States, India and Japan, released the same day a series of economic data are better than market expectations, which allows investors to believe that the global economy during the worst has passed and the demand for crude oil would hope that with the economic recovery in the second half growth .
To the day when the market closed, the New York Mercantile Exchange for delivery in July the price of light crude oil futures rose 1.23 U.S. dollars to close at 66.31 U.S. dollars a barrel. London Brent crude-oil futures rose 1.13 U.S. dollars to close at 65.52 U.S. dollars a barrel.
So far this year, international oil prices in May rose by almost 30%, in March 1999 for the largest single month since the rise.
Source: www.in-en.com May. 30, 2009
Arctic Oil & Gas proven reserves
The latest survey reported that the Arctic is not the world's oil reserves account for 13 percent of oil and natural gas accounted for 30 percent worldwide. Canadian media to comment on the 28th that this data will be strengthened, including Canada, the Arctic Ocean between the Arctic nations scramble for sovereignty.
The latest report by the U.S. Geological Survey made, published in this month "Science" magazine. The report claimed that this is "the natural resources of the region carried out a detailed article, after peer review, based on a geological assessment."
Reported that the Arctic region has 80 billion barrels of crude oil production, the next several decades to supply the needs of the world market. Although this is not enough to change the world balance of oil exploitation, but "may affect the economic territory, especially in the area of people's way of life." Moreover, the natural gas resources in the Arctic even more impressive, the number is nearly three times the oil resources.
In recent years, Canada, Russia, the United States and Denmark have in a positive measure of the Arctic region in order to find support for its territorial integrity and sovereignty of the evidence to meet the provisions of the United Nations Law of the Sea.
Source: www.in-en.com May. 29, 2009
The latest report by the U.S. Geological Survey made, published in this month "Science" magazine. The report claimed that this is "the natural resources of the region carried out a detailed article, after peer review, based on a geological assessment."
Reported that the Arctic region has 80 billion barrels of crude oil production, the next several decades to supply the needs of the world market. Although this is not enough to change the world balance of oil exploitation, but "may affect the economic territory, especially in the area of people's way of life." Moreover, the natural gas resources in the Arctic even more impressive, the number is nearly three times the oil resources.
In recent years, Canada, Russia, the United States and Denmark have in a positive measure of the Arctic region in order to find support for its territorial integrity and sovereignty of the evidence to meet the provisions of the United Nations Law of the Sea.
Source: www.in-en.com May. 29, 2009
Saudi Oil Minister: the global economy can withstand oil prices 75-80 USD
Saudi Oil Minister Naimi said in Vienna on the 27th, the global economy should be able to withstand 75 to 80 U.S. dollars per barrel of crude oil prices.
Naimi has repeatedly stressed that the 75 ~ 80 U.S. dollars / barrel of crude oil prices is to ensure that investment in new energy supply standards. He pointed out that despite the current global economy is very weak, but as the oil-producing countries of Saudi Arabia were able to cope with oil prices near 50 U.S. dollars a barrel.
The recent rise in crude oil prices, Naimi believes that this is reflected in the optimism of the future is expected to improve the situation.
Source: www.in-en.com May. 28, 2009
Naimi has repeatedly stressed that the 75 ~ 80 U.S. dollars / barrel of crude oil prices is to ensure that investment in new energy supply standards. He pointed out that despite the current global economy is very weak, but as the oil-producing countries of Saudi Arabia were able to cope with oil prices near 50 U.S. dollars a barrel.
The recent rise in crude oil prices, Naimi believes that this is reflected in the optimism of the future is expected to improve the situation.
Source: www.in-en.com May. 28, 2009
Libyan National Oil Company: OPEC will agree to any decision
Libyan National Oil Company chairman Shokri Ghanem said Tuesday that he would agree that Organization of Petroleum Exporting Countries (OPEC) meeting on Thursday to make any decision.
Ghanem said: "I will work with OPEC consensus to maintain the same views, I do not have to make a decision. When I read the report of OPEC and other members to hear the views of oil minister, I am able to put forward some views more effectively . "
Ghanem pointed out that last weekend, OPEC is still likely to cut production, despite the major oil-exporting countries in Saudi Arabia has said OPEC will maintain output unchanged, but also Algeria's oil minister also said that all members of OPEC oil ministers have agreed to the need to change the output.
Source: www.in-en.com May. 27, 2009
Ghanem said: "I will work with OPEC consensus to maintain the same views, I do not have to make a decision. When I read the report of OPEC and other members to hear the views of oil minister, I am able to put forward some views more effectively . "
Ghanem pointed out that last weekend, OPEC is still likely to cut production, despite the major oil-exporting countries in Saudi Arabia has said OPEC will maintain output unchanged, but also Algeria's oil minister also said that all members of OPEC oil ministers have agreed to the need to change the output.
Source: www.in-en.com May. 27, 2009
Iraqi crude oil prices lower than the international average price of USD 8-10
MENAFN and Iraq, according to Aswat Al-Iraq news agency on May 25 in Baghdad reported that the Government of Iraq Oil Ministry spokesman Assem Jihad Joachim May 24 here that since the value of a barrel of Iraqi crude oil a little more than 50 U.S. dollars, and the international the average price of crude oil in the 62 U.S. dollars a barrel, the price of a barrel of Iraqi crude oil prices lower than the international average of 8-10 U.S. dollars.
Jihad said that the Iraqi government is based on 50 U.S. dollars per barrel of oil to the formulation of the budget in 2009. 8-10 U.S. dollars per barrel for Iraqi crude oil price will increase the income of the Iraqi treasury.
Jihad added: "We hope Iraq can be based on a maximum price of the sale of its oil."
Source: www.in-en.com May. 26, 2009
Jihad said that the Iraqi government is based on 50 U.S. dollars per barrel of oil to the formulation of the budget in 2009. 8-10 U.S. dollars per barrel for Iraqi crude oil price will increase the income of the Iraqi treasury.
Jihad added: "We hope Iraq can be based on a maximum price of the sale of its oil."
Source: www.in-en.com May. 26, 2009
PetroChina to acquire 45.5% stake in Singapore Petroleum
According to Xinhua News Agency, China National Petroleum Corp. said an announcement on the 24th will be the acquisition of Keppel Corporation, Singapore's total share capital of the oil companies 45.51 percent, about 1.02 billion U.S. dollars deal.
Notice indicates that the transaction, respectively, through the Oil and Natural Gas Corporation and Singapore's Keppel Group, a subsidiary of the agreement reached by the international cause of China's oil company in Singapore. Cash transactions for a total price of about 1.47 billion Singapore dollars, and the completion of the transaction to pay the entire paragraph.
At present, the completion of this transaction to be approved by Chinese regulators. In addition to this transaction, the China National Petroleum Corporation and Keppel Group also agreed in principle that the future platform for offshore oil fields.
Stakeholders analysis, the acquisition will be the first cross-border acquisitions in the oil-listed company, since 2001, is also Singapore's largest listed company acquisition, so that oil in Singapore was a good strategic platform.
Singapore-based Keppel Group, Temasek Holdings, and the diversification of multinational corporations. Singapore Petroleum is a regional energy companies, while oil is the world's largest oil and gas companies, China National Petroleum Corporation is an international business in Singapore, a wholly-owned owned oil company's wholly-owned subsidiary of the core business of oil and other related products and investment in an oil storage site, facilities, major markets in Southeast Asia.
Source: windosi.com May. 25, 2009
Notice indicates that the transaction, respectively, through the Oil and Natural Gas Corporation and Singapore's Keppel Group, a subsidiary of the agreement reached by the international cause of China's oil company in Singapore. Cash transactions for a total price of about 1.47 billion Singapore dollars, and the completion of the transaction to pay the entire paragraph.
At present, the completion of this transaction to be approved by Chinese regulators. In addition to this transaction, the China National Petroleum Corporation and Keppel Group also agreed in principle that the future platform for offshore oil fields.
Stakeholders analysis, the acquisition will be the first cross-border acquisitions in the oil-listed company, since 2001, is also Singapore's largest listed company acquisition, so that oil in Singapore was a good strategic platform.
Singapore-based Keppel Group, Temasek Holdings, and the diversification of multinational corporations. Singapore Petroleum is a regional energy companies, while oil is the world's largest oil and gas companies, China National Petroleum Corporation is an international business in Singapore, a wholly-owned owned oil company's wholly-owned subsidiary of the core business of oil and other related products and investment in an oil storage site, facilities, major markets in Southeast Asia.
Source: windosi.com May. 25, 2009
Brazil found a row of large offshore oil field
Director of the Brazilian national oil Arrow more than a few days ago, said Lima, the Brazilian oil exploration in the marine sector for the lower salt after the discovery of oil, Brazil has reached the total oil reserves of about 500 million barrels.
May 1, from the Brazilian government owned Petrobras oil extraction from the graph paper out of the first batch of crude oil lower salt. The development of lower salt oil field in Brazil will be the end of a long-term need to import light crude from Africa's history. Until 2007, Brazil's proven oil reserves of only 126 million barrels. However, with lower salt, the discovery and exploitation of oil fields, Brazil will become the world's leading oil-producing countries.
Source: www.in-en.com May. 24, 2009
May 1, from the Brazilian government owned Petrobras oil extraction from the graph paper out of the first batch of crude oil lower salt. The development of lower salt oil field in Brazil will be the end of a long-term need to import light crude from Africa's history. Until 2007, Brazil's proven oil reserves of only 126 million barrels. However, with lower salt, the discovery and exploitation of oil fields, Brazil will become the world's leading oil-producing countries.
Source: www.in-en.com May. 24, 2009
Mexican National Oil Company January-April oil exports fell 60%
Mexican national oil company (Pemex) 21 Statistics released the report, January to April this year, the company's oil exports amounted to 6.142 billion U.S. dollars, a decrease of 60.4%. Last year, four months before the company's crude oil exports 15.543 billion U.S. dollars.
Reported that first quarter of this year, the company's daily oil exports of 1.25 million barrels per day mixed, a decrease of 15.3%; export average price of 40.8 U.S. dollars per barrel, representing a 52.8 percent decline in the same period last year. January to April this year, Pemex daily average of 2,660,000 barrels of crude oil production over the same period last year dropped by 2.85 million barrels of 6.89 percent.
Over the same period, Pemex natural gas daily production reached 7.004 billion cubic feet, compared with the same period last year increased by 5.8%; the company's six refineries of crude oil production 1.55 million barrels of derivatives than the 2.4 percent increase over the same period last year. 2008, Pemex crude oil production was 2.79 million daily barrels, more than 9.2 percent reduction in 2007.
Source: www.in-en.com May. 23, 2009
Reported that first quarter of this year, the company's daily oil exports of 1.25 million barrels per day mixed, a decrease of 15.3%; export average price of 40.8 U.S. dollars per barrel, representing a 52.8 percent decline in the same period last year. January to April this year, Pemex daily average of 2,660,000 barrels of crude oil production over the same period last year dropped by 2.85 million barrels of 6.89 percent.
Over the same period, Pemex natural gas daily production reached 7.004 billion cubic feet, compared with the same period last year increased by 5.8%; the company's six refineries of crude oil production 1.55 million barrels of derivatives than the 2.4 percent increase over the same period last year. 2008, Pemex crude oil production was 2.79 million daily barrels, more than 9.2 percent reduction in 2007.
Source: www.in-en.com May. 23, 2009
JP Morgan to raise the price of crude oil this year, forecast the United States
News May 21, the United States, a senior JP Morgan analysts today in a monthly energy report, said that due to the global economy is expected to be resumed later this year, so, JP Morgan this year before its U.S. crude oil price forecasts from the previous forecast of 49.38 U.S. dollars a barrel to 55.63 U.S. dollars a barrel.
JP Morgan in the United States monthly energy report also its forecast for oil prices next year, the United States increased 10 U.S. dollars a barrel to 67.50 U.S. dollars a barrel.
Reuters quoted JP Morgan's monthly energy report said: "Although the demand for the latest industry data and a global view of the high inventory levels are inconsistent, but we still think that global economic prospects are improving, the global economy in the second half of this year recovery, the recovery effort is likely to exceed our earlier forecast. "
Source: www.in-en.com May. 22, 2009
JP Morgan in the United States monthly energy report also its forecast for oil prices next year, the United States increased 10 U.S. dollars a barrel to 67.50 U.S. dollars a barrel.
Reuters quoted JP Morgan's monthly energy report said: "Although the demand for the latest industry data and a global view of the high inventory levels are inconsistent, but we still think that global economic prospects are improving, the global economy in the second half of this year recovery, the recovery effort is likely to exceed our earlier forecast. "
Source: www.in-en.com May. 22, 2009
IEA: Global 170 billion U.S. dollars have been canceled Energy Investment
May 20 Paris news, the United States, "The Wall Street Journal" today quoted the International Energy Agency (IEA) estimates published report said that global oil companies and investment companies have been canceled or postponed so far about 170 billion U.S. dollars of energy investment, energy investments substantially force is likely to reduce the price of crude oil in the next 3 years, rose sharply.
According to the U.S. "Wall Street Journal" said, the global energy investment will mean a substantial reduction in the future of global oil production will reduce the two million barrels a day. At the same time, at least in the next 18 months time, global oil supply capacity will be delayed a day about 4.2 million barrels a day.
The United States, "The Wall Street Journal" said that this will be submitted to the weekend in Rome, Italy at the G-8 energy ministers with special emphasis on the study of the world is facing a growing shortage of oil supply risk. The report holds that once the resumption of global economic growth, global oil supply may soon become stress and scarcity.
Source: www.in-en.com May. 21, 2009
According to the U.S. "Wall Street Journal" said, the global energy investment will mean a substantial reduction in the future of global oil production will reduce the two million barrels a day. At the same time, at least in the next 18 months time, global oil supply capacity will be delayed a day about 4.2 million barrels a day.
The United States, "The Wall Street Journal" said that this will be submitted to the weekend in Rome, Italy at the G-8 energy ministers with special emphasis on the study of the world is facing a growing shortage of oil supply risk. The report holds that once the resumption of global economic growth, global oil supply may soon become stress and scarcity.
Source: www.in-en.com May. 21, 2009
China's tens of billions of dollars of loans for Brazil oil
Petrobras announced on the 19th and the State Development Bank signed a 10-year of 10 billion U.S. dollars of bilateral loan agreements. This is a bilateral loan agreement and the Chinese Government, the Government of Brazil to the outcome of cooperation, loans will be used for the Brazilian national oil company investment plans, including from China to buy goods and services should be financed. According to the Brazilian national oil company on the 19th and the State Development Bank signed the agreement, the two sides agreed to increase Brazil's crude oil export volume in China.
The date of the signing of the document also include the launch of a Brazilian national oil company and a wholly owned subsidiary of Sinopec joint petrochemical companies in Asia's long-term export agreements signed. Agreement in 2009 to the Chinese national oil company of Brazil exports 150,000 barrels per day of crude oil, from 2010 until 2019 daily export to China 200,000 barrels of crude oil, which is equivalent to 10 million tons of crude oil per year.
Brazilian state oil company Sinopec has also signed a memorandum of understanding will be of interest to both sides to cooperate in several areas, including oil exploration, refining, petrochemical, as well as the provision of products and services.
Oil cooperation between China and Brazil has great potential. In recent years, Brazil have discovered a number of large offshore oil field, and gradually become the world's major oil-exporting countries. Petrobras is Brazil's largest energy companies.
Source: www.in-en.com May. 20, 2009
The date of the signing of the document also include the launch of a Brazilian national oil company and a wholly owned subsidiary of Sinopec joint petrochemical companies in Asia's long-term export agreements signed. Agreement in 2009 to the Chinese national oil company of Brazil exports 150,000 barrels per day of crude oil, from 2010 until 2019 daily export to China 200,000 barrels of crude oil, which is equivalent to 10 million tons of crude oil per year.
Brazilian state oil company Sinopec has also signed a memorandum of understanding will be of interest to both sides to cooperate in several areas, including oil exploration, refining, petrochemical, as well as the provision of products and services.
Oil cooperation between China and Brazil has great potential. In recent years, Brazil have discovered a number of large offshore oil field, and gradually become the world's major oil-exporting countries. Petrobras is Brazil's largest energy companies.
Source: www.in-en.com May. 20, 2009
Jordan signed with Shell 340 million U.S. dollars of oil shale exploration agreement
According to Bloomberg news agency in Amman on May 17 reported that Jordan has been seeking to expand its oil and gas production, Jordan a few days ago with Europe's largest oil company Royal Dutch Shell signed a value of 340 million U.S. dollars to Jordan rich exploration of domestic reserves of oil shale a preliminary agreement.
Natural resource management agencies in charge of Jordan Maher Hijazin the Dead Sea in Jordan today, the media reporters, said that the agreement will make it possible to meet Jordan's future energy needs.
He said that the Jordanian Parliament in June this year a meeting to ratify the agreement.
Hijazin said that the European No. 2 oil company British Petroleum large (BP) and Jordan is also currently discussing a 240 million U.S. dollars worth in the region near the Iraqi border natural gas exploration agreement. Under the agreement, BP will be in a production of 25 million cubic feet of natural gas for a gas field in 3-4 years of natural gas exploration operations.
National energy demand is almost totally dependent on imports of Jordan plans to develop the country's oil shale. Oil shale is a kind of oil can be extracted from oil shale-like rock. April 2008, the Baltic region's largest utility company energy company Eesti Energia AS Jordan agreed to build a power plant the use of oil shale, the power plant with an annual generation capacity of 900 megawatts.
Source: www.in-en.com May. 19, 2009
Natural resource management agencies in charge of Jordan Maher Hijazin the Dead Sea in Jordan today, the media reporters, said that the agreement will make it possible to meet Jordan's future energy needs.
He said that the Jordanian Parliament in June this year a meeting to ratify the agreement.
Hijazin said that the European No. 2 oil company British Petroleum large (BP) and Jordan is also currently discussing a 240 million U.S. dollars worth in the region near the Iraqi border natural gas exploration agreement. Under the agreement, BP will be in a production of 25 million cubic feet of natural gas for a gas field in 3-4 years of natural gas exploration operations.
National energy demand is almost totally dependent on imports of Jordan plans to develop the country's oil shale. Oil shale is a kind of oil can be extracted from oil shale-like rock. April 2008, the Baltic region's largest utility company energy company Eesti Energia AS Jordan agreed to build a power plant the use of oil shale, the power plant with an annual generation capacity of 900 megawatts.
Source: www.in-en.com May. 19, 2009
Global oil demand decrease of 3% to 83.2 million barrels per day
International Energy Agency (IEA) yesterday estimated that this year global oil consumption will be reduced due to the economic crisis, a record for the largest reduction in 1981.
Paris-based IEA has been noted in the monthly report forecasts global oil demand this year will be reduced by 3% to 8,320 million barrels per day, less than last year's daily average of 2,600,000 barrels. This is the ninth straight month of IEA revised forecast of global oil demand; IEA forecast last month, a decrease of 2.8% this year. If the reduction in oil demand this year will be the first time since 1982-1983 for two consecutive years of reduction.
Of the OECD (OECD) of 30 rich countries, IEA forecast that oil demand will be reduced by 5.1% to 4,510 million barrels per day. In contrast, non-OECD demand in developing countries fell by 0.4%, 3,810 million barrels a day.
IEA pointed out that earlier this week the price reach 60 U.S. dollars per barrel price of six months, the main reason is the market optimistic about the economic recovery, rather than fundamental factors of supply and demand change. IEA oil industry and the market, head of Fairfield, said: "From the preliminary data analysis, but also do not see the economy in early 2009 will show signs of recovery."
Source: www.in-en.com May. 18, 2009
Paris-based IEA has been noted in the monthly report forecasts global oil demand this year will be reduced by 3% to 8,320 million barrels per day, less than last year's daily average of 2,600,000 barrels. This is the ninth straight month of IEA revised forecast of global oil demand; IEA forecast last month, a decrease of 2.8% this year. If the reduction in oil demand this year will be the first time since 1982-1983 for two consecutive years of reduction.
Of the OECD (OECD) of 30 rich countries, IEA forecast that oil demand will be reduced by 5.1% to 4,510 million barrels per day. In contrast, non-OECD demand in developing countries fell by 0.4%, 3,810 million barrels a day.
IEA pointed out that earlier this week the price reach 60 U.S. dollars per barrel price of six months, the main reason is the market optimistic about the economic recovery, rather than fundamental factors of supply and demand change. IEA oil industry and the market, head of Fairfield, said: "From the preliminary data analysis, but also do not see the economy in early 2009 will show signs of recovery."
Source: www.in-en.com May. 18, 2009
IEA: Global oil production this year will be decreased substantially
Warsaw, May 12, the International Energy Agency (IEA) Nobuo Tanaka, Director-General of May 12 said here today that the International Energy Agency is not likely in the next edition of its report to reduce its forecast for global oil demand.
Nobuo Tanaka told reporters in Warsaw, told reporters that global oil production this year will be decreased substantially. The current very high global oil inventories, which helps to alleviate the current tight supply market.
Nobuo Tanaka, Reuters quoted as saying: "According to our forecast, non-Organization of Petroleum Exporting Countries (OPEC) oil-producing countries on this year's supply of oil will be reduced by 50 million barrels per day, while global oil production will drop this year, 1.7 million barrels per day . "
Last month, the International Energy Agency said that the agency is expected to total world oil demand this year will be 2.4 million barrels a day by more than a monthly report the International Energy Agency in the previous forecast of 1.25 million barrels per day increase of 115 million barrels per day. It is reported that 28 developed countries as the International Energy Agency energy consultant will be released in mid-May in the next issue of its monthly market.
May. 13, 2009
Nobuo Tanaka told reporters in Warsaw, told reporters that global oil production this year will be decreased substantially. The current very high global oil inventories, which helps to alleviate the current tight supply market.
Nobuo Tanaka, Reuters quoted as saying: "According to our forecast, non-Organization of Petroleum Exporting Countries (OPEC) oil-producing countries on this year's supply of oil will be reduced by 50 million barrels per day, while global oil production will drop this year, 1.7 million barrels per day . "
Last month, the International Energy Agency said that the agency is expected to total world oil demand this year will be 2.4 million barrels a day by more than a monthly report the International Energy Agency in the previous forecast of 1.25 million barrels per day increase of 115 million barrels per day. It is reported that 28 developed countries as the International Energy Agency energy consultant will be released in mid-May in the next issue of its monthly market.
May. 13, 2009
Kurdish autonomous region said the Iraqi government and foreign oil companies signed a contract "illegal"
Iraqi Oil Minister Shahristani said on the 12th, although the central government approved the use of the Kurdish autonomous region of the country plans to export crude oil pipeline, but prior to the Kurdish regional government signed with some foreign oil companies oil contracts are still "not lawful".
Shahristani in an interview with Iraq's official television station, said that the Iraqi Ministry of Oil that these contracts illegal, because the Kurdish autonomous region in the signing of contracts with foreign oil companies when the "no consultation with the central government."
The approval of the Government of Iraq on the 10th of the Kurdish autonomous region through the national oil pipeline to the Turkish Mediterranean port of Ceyhan oil export plan on June 1 formally implemented. By mutual agreement, exports of crude oil from Iraq's State Oil Marketing Bureau is responsible for sales. The proceeds of oil exports to Iraq under the unified management of the federal account, by all Iraqis share.
Kurdish autonomous region in northern Iraq of Kurds from the provinces inhabited by the composition. Since 2003, the Kurdish regional government in the absence of consultation with the Iraqi central government, the foreign oil companies have already signed and more than 20 oil production sharing contract, has aroused the dissatisfaction of the central government, but that the Kurdish autonomous region in accordance with the Constitution of Iraq, they have a certain right to manage internal affairs, including oil production fields.
May. 13, 2009
Shahristani in an interview with Iraq's official television station, said that the Iraqi Ministry of Oil that these contracts illegal, because the Kurdish autonomous region in the signing of contracts with foreign oil companies when the "no consultation with the central government."
The approval of the Government of Iraq on the 10th of the Kurdish autonomous region through the national oil pipeline to the Turkish Mediterranean port of Ceyhan oil export plan on June 1 formally implemented. By mutual agreement, exports of crude oil from Iraq's State Oil Marketing Bureau is responsible for sales. The proceeds of oil exports to Iraq under the unified management of the federal account, by all Iraqis share.
Kurdish autonomous region in northern Iraq of Kurds from the provinces inhabited by the composition. Since 2003, the Kurdish regional government in the absence of consultation with the Iraqi central government, the foreign oil companies have already signed and more than 20 oil production sharing contract, has aroused the dissatisfaction of the central government, but that the Kurdish autonomous region in accordance with the Constitution of Iraq, they have a certain right to manage internal affairs, including oil production fields.
May. 13, 2009
South Korea 810 million U.S. dollars to set up energy resources fund
May 11 report in Seoul, South Korea said here today that the Department of Energy, South Korea plans to set up a 1 trillion won (809.7 million U.S. dollars) to the energy resources of the Fund to obtain energy resources from overseas, from overseas, including access to energy resources from minerals to oil and gas fields.
South Korea Department of Energy said in a statement, the Korean efforts to improve energy self-sufficiency rate of energy resources as part of plans to fund state-run Korea National Oil Corporation of Korea (KNOC) and Korea Resources Corporation (KORES) where to raise the early ₩ 110,000,000,000 before investment, as well as from the private fund to attract investment ₩ 890,000,000,000.
Korea National Oil Company are the leading Korean companies in search of crude oil and natural gas overseas, and Korea Resources Corporation for the overseas including a variety of minerals including coal.
South Korea said the Department of Energy, energy resources, funds will be used to purchase shares of overseas energy projects in the oil fields currently under production, as well as the acquisition of foreign access to shares of energy companies.
Source: www.in-en.com May. 12, 2009
South Korea Department of Energy said in a statement, the Korean efforts to improve energy self-sufficiency rate of energy resources as part of plans to fund state-run Korea National Oil Corporation of Korea (KNOC) and Korea Resources Corporation (KORES) where to raise the early ₩ 110,000,000,000 before investment, as well as from the private fund to attract investment ₩ 890,000,000,000.
Korea National Oil Company are the leading Korean companies in search of crude oil and natural gas overseas, and Korea Resources Corporation for the overseas including a variety of minerals including coal.
South Korea said the Department of Energy, energy resources, funds will be used to purchase shares of overseas energy projects in the oil fields currently under production, as well as the acquisition of foreign access to shares of energy companies.
Source: www.in-en.com May. 12, 2009
Saudi Arabia cut spending 5-year energy plan
According to "Arab business newspaper" Riyadh reported that the "Middle East Economic Survey" (MEES) 5 on 9 story said that the world's largest oil exporter Saudi Arabia, recently revised its 5-year energy plan and the plan to cut expenses.
According to "Middle East Economic Survey," said Saudi Arabia has postponed the implementation of several important energy projects, including Hasbah sea Shaybah gas field development projects, as well as natural gas liquids (GTL) project.
"Middle East Economic Survey," failed to indicate whether it is an where to obtain this from a number of important energy-related project delays in the implementation of the message, but he added that the Saudi National Oil Company (Saudi Aramco) is also intended to substantially reduce the Maintain Potential project expenditure.
According to MEES, the said, including Nissan's 1.2 million barrels of oil, including oil Safaniyah the Maintain Potential project investment will be reduced by half this year, down to about 500 million U.S. dollars, next year will be reduced to 400 million U.S. dollars.
Source: www.in-en.com May. 11, 2009
According to "Middle East Economic Survey," said Saudi Arabia has postponed the implementation of several important energy projects, including Hasbah sea Shaybah gas field development projects, as well as natural gas liquids (GTL) project.
"Middle East Economic Survey," failed to indicate whether it is an where to obtain this from a number of important energy-related project delays in the implementation of the message, but he added that the Saudi National Oil Company (Saudi Aramco) is also intended to substantially reduce the Maintain Potential project expenditure.
According to MEES, the said, including Nissan's 1.2 million barrels of oil, including oil Safaniyah the Maintain Potential project investment will be reduced by half this year, down to about 500 million U.S. dollars, next year will be reduced to 400 million U.S. dollars.
Source: www.in-en.com May. 11, 2009
Chavez said oil companies have taken over the "historic significance"
Venezuelan President Hugo Chavez said on the 8th, the Government has already started to take over a group of oil companies, it has "historical significance."
Chavez was in the Lake Maracaibo region of Venezuela, the state-owned oil inspection is carried out to take over the operations of local oil workers said: "The cost of a barrel of oil production was 50 percent of those contracts before the contractor to take , into its own pockets. capitalists have most of the profits away. Now we have to reduce the number of oil companies, at the same time we will also reduce the production costs. In this way, the profits will stay in the workers here. "
On the 7th National Assembly of Venezuela approved a bill allowing the Government to take over a group of oil companies, and to permit the Government to replace the bond in cash, the compensation of the oil companies into receivership. The nature of the Venezuelan state-owned oil company to start on the 8th to take over the oil-producing area of Lake Maracaibo oil contractors were originally part of the 300 ships and other transportation equipment, but also will receive the 8000 employees involved.
Source: www.in-en.com May. 10, 2009
Chavez was in the Lake Maracaibo region of Venezuela, the state-owned oil inspection is carried out to take over the operations of local oil workers said: "The cost of a barrel of oil production was 50 percent of those contracts before the contractor to take , into its own pockets. capitalists have most of the profits away. Now we have to reduce the number of oil companies, at the same time we will also reduce the production costs. In this way, the profits will stay in the workers here. "
On the 7th National Assembly of Venezuela approved a bill allowing the Government to take over a group of oil companies, and to permit the Government to replace the bond in cash, the compensation of the oil companies into receivership. The nature of the Venezuelan state-owned oil company to start on the 8th to take over the oil-producing area of Lake Maracaibo oil contractors were originally part of the 300 ships and other transportation equipment, but also will receive the 8000 employees involved.
Source: www.in-en.com May. 10, 2009
The first quarter of this year, Russia's largest oil company losses
Russia's largest oil companies - Russian oil company recently announced first quarter of this year the company lost 5.77 billion rubles (about 33 rubles 1 U.S. dollars).
According to Russian News Agency reported, in accordance with Russian accounting standards, the Russian oil company losses in the first quarter this year, 5.77 billion rubles, the fourth quarter of last year's loss of 65 billion rubles has reduced by 90%. The first quarter of last year, Russian oil companies to achieve a net profit of 6.5 billion rubles.
Russian oil companies reported previously announced, the company's 2008 net profit of 141.31 billion rubles for the more than 2007, a decrease of 12.8%. Russian oil companies for oil production last year's 110.1 million tons, representing an increase of 9% a year. The company expects this year's oil production to 112.3 million tons.
Source: www.in-en.com May. 9, 2009
According to Russian News Agency reported, in accordance with Russian accounting standards, the Russian oil company losses in the first quarter this year, 5.77 billion rubles, the fourth quarter of last year's loss of 65 billion rubles has reduced by 90%. The first quarter of last year, Russian oil companies to achieve a net profit of 6.5 billion rubles.
Russian oil companies reported previously announced, the company's 2008 net profit of 141.31 billion rubles for the more than 2007, a decrease of 12.8%. Russian oil companies for oil production last year's 110.1 million tons, representing an increase of 9% a year. The company expects this year's oil production to 112.3 million tons.
Source: www.in-en.com May. 9, 2009
Iraq will invite international companies to develop the East Baghdad oil field
According to the Greek energy news network on May 7 in Baghdad reported that Iraqi oil sector, a senior official said today that Iraq will be invited to compete to develop a number of international oil companies located in the east near the Iraqi capital Baghdad oil field.
The official told reporters that the Iraqi Ministry of Oil will soon be invited to tender a number of international oil companies in this field.
East Baghdad oil field produces about 17,000 barrels of oil, Iraq's Oil Ministry plans to develop the estimated 75 billion barrels of oil reserves in the oilfield.
The official said that the Iraqi Ministry of Oil in accordance with engineering design, procurement and construction contract (EPC) to develop the East Baghdad oil field. Japan Oil Development Co., Ltd., Japan Petroleum Exploration Company (JAPEX) may be the Iraqi Ministry of Oil will be invited to compete in this field one of the international oil companies.
East Baghdad oil field in Iraq, announced in December last year the second round of the tender offer in the field. East Baghdad oil field will be produced as a day of crude oil processing capacity of 140,000 barrels of crude oil in the Doura oil refinery processing of raw materials.
Source: www.in-en.com May. 8, 2009
The official told reporters that the Iraqi Ministry of Oil will soon be invited to tender a number of international oil companies in this field.
East Baghdad oil field produces about 17,000 barrels of oil, Iraq's Oil Ministry plans to develop the estimated 75 billion barrels of oil reserves in the oilfield.
The official said that the Iraqi Ministry of Oil in accordance with engineering design, procurement and construction contract (EPC) to develop the East Baghdad oil field. Japan Oil Development Co., Ltd., Japan Petroleum Exploration Company (JAPEX) may be the Iraqi Ministry of Oil will be invited to compete in this field one of the international oil companies.
East Baghdad oil field in Iraq, announced in December last year the second round of the tender offer in the field. East Baghdad oil field will be produced as a day of crude oil processing capacity of 140,000 barrels of crude oil in the Doura oil refinery processing of raw materials.
Source: www.in-en.com May. 8, 2009
Saudi oil production capacity to meet June 30 barrels of 12.5 million
Houston, according to Reuters reports, the state-owned oil giant Saudi Arabia Saudi Arabia National Oil Company (Saudi Aramco) is responsible for oil and gas exploration and production operations, senior vice president Amin Nasser5 here on the 5th month that Saudi Arabia's oil production capacity in 6 days 30 months to reach 12.5 million barrels a day.
Nasser was held in Houston in the United States to attend the Maritime Technical Conference (OTC) on the media during a press made these remarks.
Nasser's spokesman later added that Saudi Arabia's oil output will remain at 800 million barrels, Saudi Arabia, there is no further reduction of the idea of oil production.
Nasser said that the plan to be completed in June of all the oil field development project will be completed on schedule, including Hu, Rice fields, Nuayyim and Shaybah oil field, the three oil development projects in Saudi Arabia will increase in 1.45 million barrels of oil production capacity, and the Hu Rice alone oil field development project will be an additional 120 million barrels of oil production capacity.
Nasser said, adding that 1.2 million barrels per day production capacity, Saudi Arabia's oil production in the June 30 will be more than 12.5 million barrels a day. However, Nasser said, some of which can increase the production capacity elsewhere to make up for the decline.
Nasser added that the world's marginal oil (such as deep-sea oil or tar sands) will require the continued development of the oil price 70 U.S. dollars a barrel.
Source: www.in-en.com May. 7, 2009
Nasser was held in Houston in the United States to attend the Maritime Technical Conference (OTC) on the media during a press made these remarks.
Nasser's spokesman later added that Saudi Arabia's oil output will remain at 800 million barrels, Saudi Arabia, there is no further reduction of the idea of oil production.
Nasser said that the plan to be completed in June of all the oil field development project will be completed on schedule, including Hu, Rice fields, Nuayyim and Shaybah oil field, the three oil development projects in Saudi Arabia will increase in 1.45 million barrels of oil production capacity, and the Hu Rice alone oil field development project will be an additional 120 million barrels of oil production capacity.
Nasser said, adding that 1.2 million barrels per day production capacity, Saudi Arabia's oil production in the June 30 will be more than 12.5 million barrels a day. However, Nasser said, some of which can increase the production capacity elsewhere to make up for the decline.
Nasser added that the world's marginal oil (such as deep-sea oil or tar sands) will require the continued development of the oil price 70 U.S. dollars a barrel.
Source: www.in-en.com May. 7, 2009
Exxon Mobil was the eastern part of Indonesia's oil and gas blocks for exploration of new power
Jakarta, May 5 reported that the US-based oil giant's largest oil company Exxon Mobil and Hess Corp. won the eastern region of Indonesia's new oil and gas exploration rights, the two companies have pledged in the future 3 years to the Indonesian oil and gas exploration investment 66 million U.S. dollars.
Exxon Mobil Corporation and Biak in Indonesia partners win oil exploration at sea outside the island of Papua Cendrawasih the right to block, they will be in the exploration period of 3 years ago 40 million U.S. dollars investment.
Hess Corporation has won the Kalimantan Island is located outside the waters of the South Sesulu block and promised exploration rights in the exploration period of 3 years prior to the 26 million U.S. dollars investment.
According to "The Jakarta Post" reported that Exxon Mobil and Hess Corporation is the Indonesian Ministry of Energy and Mineral Resources announced last week that the 11 oil and gas blocks in the two oil companies. It is reported that the Indonesian government planned in the near future on 24 new oil and gas blocks for international bidding.
Source: www.in-en.com May. 5, 2009
Exxon Mobil Corporation and Biak in Indonesia partners win oil exploration at sea outside the island of Papua Cendrawasih the right to block, they will be in the exploration period of 3 years ago 40 million U.S. dollars investment.
Hess Corporation has won the Kalimantan Island is located outside the waters of the South Sesulu block and promised exploration rights in the exploration period of 3 years prior to the 26 million U.S. dollars investment.
According to "The Jakarta Post" reported that Exxon Mobil and Hess Corporation is the Indonesian Ministry of Energy and Mineral Resources announced last week that the 11 oil and gas blocks in the two oil companies. It is reported that the Indonesian government planned in the near future on 24 new oil and gas blocks for international bidding.
Source: www.in-en.com May. 5, 2009
Iraq oil exports in April and income growth
It is reported that the Iraqi energy officials recently said that Iraq's April daily average 1.821 million barrels of crude oil exports, up slightly from March's 1.815 million barrels in May is expected to reach 1.9 million barrels a day.
April Iraq's oil export earnings last month from 2.5 billion U.S. dollars to 26 billion dollars. Iraqi officials said Iraqi crude oil in April the average export price of 47 U.S. dollars a barrel, up from 44.2 U.S. dollars in March.
Iraq's 2008 daily average 1.85 million barrels of crude oil exports, export revenue of about 60 billion U.S. dollars.
IHS internationally renowned advisory body said the forecast issued the previous year, 5 years of Iraq's oil production is expected to reach four million barrels a day. Iraq's proven oil reserves of 1160 billion barrels, ranking third in the world, second only to Saudi Arabia and Iran.
Source: www.in-en.com May. 5, 2009
April Iraq's oil export earnings last month from 2.5 billion U.S. dollars to 26 billion dollars. Iraqi officials said Iraqi crude oil in April the average export price of 47 U.S. dollars a barrel, up from 44.2 U.S. dollars in March.
Iraq's 2008 daily average 1.85 million barrels of crude oil exports, export revenue of about 60 billion U.S. dollars.
IHS internationally renowned advisory body said the forecast issued the previous year, 5 years of Iraq's oil production is expected to reach four million barrels a day. Iraq's proven oil reserves of 1160 billion barrels, ranking third in the world, second only to Saudi Arabia and Iran.
Source: www.in-en.com May. 5, 2009
OPEC oil production for the first decline in eight months
According to reports, May 1 Reuters published the results of a survey which indicated that due to the decline in oil production in Nigeria and the Organization of Petroleum Exporting Countries (OPEC) member states to implement an agreement to raise oil prices, OPEC April oil supply the third consecutive decline in eight months.
According to the oil companies, OPEC officials and industry analysts said the survey results, the OPEC production target by 11 member states restrict the oil production in April from March's 25.63 million barrels per day decreased to 25.52 million barrels a day. OPEC hinted that such a survey has been completed so far 84% of last year's production target has been promised.
Despite the OPEC in September last year since the implementation of output measures, however, as the global economic crisis, oil prices and demand continued to decline in oil inventories in developed countries increased during this period so far in February has reached the equivalent of 61.6 days the demand for the level of oil inventories in developed countries is the highest since 1993.
OPEC vowed to cut oil production is equivalent to the global daily demand of 5%. OPEC oil production is currently the world's oil production accounted for more than one-third.
Survey found that non-OPEC, including Iraq, the 11 production quotas by a member of April the average oil production of more than 24,840,000 barrels of their collective goal of 680,000 barrels per day, which means that OPEC has only reduced they had previously agreed to cut 4.2 million barrels of daily output of 3.52 million barrels in.
Source: www.in-en.com May. 4, 2009
According to the oil companies, OPEC officials and industry analysts said the survey results, the OPEC production target by 11 member states restrict the oil production in April from March's 25.63 million barrels per day decreased to 25.52 million barrels a day. OPEC hinted that such a survey has been completed so far 84% of last year's production target has been promised.
Despite the OPEC in September last year since the implementation of output measures, however, as the global economic crisis, oil prices and demand continued to decline in oil inventories in developed countries increased during this period so far in February has reached the equivalent of 61.6 days the demand for the level of oil inventories in developed countries is the highest since 1993.
OPEC vowed to cut oil production is equivalent to the global daily demand of 5%. OPEC oil production is currently the world's oil production accounted for more than one-third.
Survey found that non-OPEC, including Iraq, the 11 production quotas by a member of April the average oil production of more than 24,840,000 barrels of their collective goal of 680,000 barrels per day, which means that OPEC has only reduced they had previously agreed to cut 4.2 million barrels of daily output of 3.52 million barrels in.
Source: www.in-en.com May. 4, 2009
Southwestern and central regions of Iran to discover new oil and gas resources
According to foreign media on April 26 in Tehran, Iran News on April 25 television quoted Iranian Oil Minister Gholam Hussein Nozari as saying that Iran in the country's south-west and central regions, respectively, found a reservoir and a new natural gas fields.
Nozari said, the new composition of the reservoir is located in a huge oil reserves of Iran Khuzestan province northwest of Ahwaz, capital of Band-e-Karkheh part of oil field. Since the discovery of new oil, Band-e-Karkheh oilfield estimated oil reserves to 45 billion barrels. In Fars Province, Iran, Central and France newly discovered gas fields estimated to have reserves of 169.8 billion cubic meters of natural gas.
According to the U.S., "Oil and Gas Journal" said, in January 2009 to date, Iran's estimated 1362 billion barrels of proven oil reserves, a figure about the world's total proven oil reserves of 10%. Iran in 2008 proved natural gas reserves estimated at 26.8 trillion cubic meters, second only to Russia as the world No. 2 has a large natural gas reserves country.
Source: www.in-en.com May. 1, 2009
Nozari said, the new composition of the reservoir is located in a huge oil reserves of Iran Khuzestan province northwest of Ahwaz, capital of Band-e-Karkheh part of oil field. Since the discovery of new oil, Band-e-Karkheh oilfield estimated oil reserves to 45 billion barrels. In Fars Province, Iran, Central and France newly discovered gas fields estimated to have reserves of 169.8 billion cubic meters of natural gas.
According to the U.S., "Oil and Gas Journal" said, in January 2009 to date, Iran's estimated 1362 billion barrels of proven oil reserves, a figure about the world's total proven oil reserves of 10%. Iran in 2008 proved natural gas reserves estimated at 26.8 trillion cubic meters, second only to Russia as the world No. 2 has a large natural gas reserves country.
Source: www.in-en.com May. 1, 2009
The world's top five oil giant's first-quarter profit fell 63% overall
According to the oil giant's results being released first quarter of this year, as oil and gas prices continue to fall, Exxon Mobil, Chevron, Shell and other giants of the world's top five oil profits across the board with the sharp drop in the same period last year .
The second-largest U.S. oil and gas company Chevron's results on the 1st release said that more than a quarter of the company's profit dropped 64 percent over the same period last year. According to recently released results one after another, the world's largest oil company Exxon Mobil, the third largest U.S. oil company ConocoPhillips, the two European oil companies Shell and British Petroleum (BP) of these four oil giants first quarter profits dropped 58 percent, respectively, 80%, 62% and 62%.
According to the Associated Press reported that, in general, the five oil companies profit the first quarter of 13.3 billion U.S. dollars accumulated over the same period last year fell 63 percent overall.
There is no doubt that the deteriorating economic situation led to oil and natural gas prices is a sharp drop in profits the oil giant said. First quarter of last year, the international oil price is also up to three digits, and once in the year surged to 150 U.S. dollars a barrel close to the peak; and now, as a result of the global economic downturn hit the market demand, international oil price has dropped to 50 U.S. dollars per barrel from top to bottom.
British Petroleum CEO Tony Hayward said, because consumers will continue to face severe economic situation, the recent international oil prices will remain low.
Source: www.in-en.com May. 1, 2009
The second-largest U.S. oil and gas company Chevron's results on the 1st release said that more than a quarter of the company's profit dropped 64 percent over the same period last year. According to recently released results one after another, the world's largest oil company Exxon Mobil, the third largest U.S. oil company ConocoPhillips, the two European oil companies Shell and British Petroleum (BP) of these four oil giants first quarter profits dropped 58 percent, respectively, 80%, 62% and 62%.
According to the Associated Press reported that, in general, the five oil companies profit the first quarter of 13.3 billion U.S. dollars accumulated over the same period last year fell 63 percent overall.
There is no doubt that the deteriorating economic situation led to oil and natural gas prices is a sharp drop in profits the oil giant said. First quarter of last year, the international oil price is also up to three digits, and once in the year surged to 150 U.S. dollars a barrel close to the peak; and now, as a result of the global economic downturn hit the market demand, international oil price has dropped to 50 U.S. dollars per barrel from top to bottom.
British Petroleum CEO Tony Hayward said, because consumers will continue to face severe economic situation, the recent international oil prices will remain low.
Source: www.in-en.com May. 1, 2009
Azerbaijan plans to increase exports twice the number of North American oil
It is reported that the National Oil Company of Azerbaijan (SOCAR), an official said here today that the company plans to export North American oil a day increase in the number of double to 20 million barrels per day. However, the official did not elaborate on plans for a timetable for this increase.
Azerbaijan national oil company responsible for marketing and deputy manager of the economy Guliyev said that his company currently is the company's Azeri Light AZR-E crude oil to open up new markets, including Canada.
Guliyev in a press conference that only 20 percent of Azerbaijan's oil sales are sold in the Americas region. Canada's oil market is an ever-growing emerging markets, where demand is increasing.
2008 Azerbaijan produced 44 million tons (8.84 million barrels) of oil.
Vice president of the Azerbaijani national oil company told Reuters last month the financial television reporter said that Azerbaijan plans to increase oil production of at least 50 million tons, Azerbaijan did not plan to join OPEC. The National Oil Company of Azerbaijan in 2008, the average daily supply to North America by 7.3 million barrels per day.
Source: www.in-en.com Apr. 30, 2009
Azerbaijan national oil company responsible for marketing and deputy manager of the economy Guliyev said that his company currently is the company's Azeri Light AZR-E crude oil to open up new markets, including Canada.
Guliyev in a press conference that only 20 percent of Azerbaijan's oil sales are sold in the Americas region. Canada's oil market is an ever-growing emerging markets, where demand is increasing.
2008 Azerbaijan produced 44 million tons (8.84 million barrels) of oil.
Vice president of the Azerbaijani national oil company told Reuters last month the financial television reporter said that Azerbaijan plans to increase oil production of at least 50 million tons, Azerbaijan did not plan to join OPEC. The National Oil Company of Azerbaijan in 2008, the average daily supply to North America by 7.3 million barrels per day.
Source: www.in-en.com Apr. 30, 2009
OPEC needed to cut from the market 720,000 barrels of oil production
Algiers reported that the Organization of Petroleum Exporting Countries (OPEC) Secretary-General Abdallah Badri April 26, said here so far to comply with OPEC output decision is good, but, in order to ensure the full realization of production target, OPEC still need to cut from the market 722,000 barrels of oil production.
Badri is in the Algerian capital Algiers, at a press conference, made these remarks.
Badri said: "OPEC members so far to comply with decisions of the recent production is a very good, but, in order to fully achieve the production goal, we also need to be reduced from the market lost 722,000 barrels of oil production."
Badri also said that lower oil prices to OPEC member countries have investment projects have had a great impact, in the OPEC member countries planned to invest 165 projects so far, 35 investment projects have been postponed to 2013 was implemented.
Source: www.in-en.com Apr. 30, 2009
Badri is in the Algerian capital Algiers, at a press conference, made these remarks.
Badri said: "OPEC members so far to comply with decisions of the recent production is a very good, but, in order to fully achieve the production goal, we also need to be reduced from the market lost 722,000 barrels of oil production."
Badri also said that lower oil prices to OPEC member countries have investment projects have had a great impact, in the OPEC member countries planned to invest 165 projects so far, 35 investment projects have been postponed to 2013 was implemented.
Source: www.in-en.com Apr. 30, 2009
OPEC: oil prices may be close to a record level last year
From 12-member Organization of Petroleum Exporting Countries (OPEC) on April 26 warned that the global economic recession as a result of disruption of a lot of oil and gas exploration and energy projects, oil prices may be close to a record in July of last year's record.
OPEC and Minister of Finance, 13 in Asia held in Tokyo before a meeting called for more stringent monitoring of global oil prices.
13 OPEC and Minister of Finance, agreed that Asia's rise or fall in oil prices is detrimental to the interests of oil producing countries is not conducive to the interests of oil-consuming countries.
OPEC and Minister of Finance, 13 in Asia in a joint statement from the economic crisis on oil prices bounced back sharply after rising concerns about the prospect.
Source: www.in-en.com Apr. 29, 2009
OPEC and Minister of Finance, 13 in Asia held in Tokyo before a meeting called for more stringent monitoring of global oil prices.
13 OPEC and Minister of Finance, agreed that Asia's rise or fall in oil prices is detrimental to the interests of oil producing countries is not conducive to the interests of oil-consuming countries.
OPEC and Minister of Finance, 13 in Asia in a joint statement from the economic crisis on oil prices bounced back sharply after rising concerns about the prospect.
Source: www.in-en.com Apr. 29, 2009
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