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
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
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