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
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
Subscribe to:
Posts (Atom)
