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
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
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