Investors
EIA sees U.S. oil over $85 per barrel through June
WASHINGTON, Jan 30 (Reuters) - U.S. crude oil prices are expected to stay above $85 a barrel, on a monthly basis, through June, even if OPEC keeps output close to current levels when it meets this week, the U.S. Energy Information Administration said on Wednesday.
“While prices have declined from their peak, crude oil prices do [...]
Exxon tries for new all-time profit record
Surging crude prices could help the oil giant post the biggest bottom line ever for a U.S. firm; refining margins, rising costs could get in the way.
NEW YORK — Exxon Mobil, the world’s largest publicly traded oil company, is within striking distance of setting an all-time profit record - again.
Analysts are expecting the company to [...]
Iran resumes gas supplies to Turkey: report
ANKARA (AFP) - Iran began pumping natural gas to Turkey on Sunday after cutting supplies for three weeks, but the flow was far less than normal, the Anatolia news agency reported.
The gas began flowing at around 4:00 pm (1400 GMT) at a rate of between 1.5 and 2.0 million cubic metres a day, far bellow [...]
Survey shows gas prices down 9 cents
CAMARILLO, Calif. - The national average price for gasoline dropped about 9 cents over the last two weeks, according to a survey released Sunday.
The average price of regular gasoline on Friday was $2.98 a gallon, mid-grade was $3.10, and premium was $3.22, oil industry analyst Trilby Lundberg said.
Of cities surveyed, the nation’s lowest price was [...]
Gasoline prices fall below $3 per gallon
NEW YORK (Reuters) - The average price for a gallon of gasoline in the United States fell below $3 due to less demand and slightly lower oil prices, and was likely to hold steady, according to an industry analyst.
The national average for self-serve, regular unleaded gas was about $2.98 a gallon on January 25, down [...]
Eni Wins Alaska Break After Biggest Oil Deal Setback
Jan. 27 — Eni SpA, the energy company stripped of control of the world’s biggest oil project earlier this month, got Alaska to agree to cut its tax rate on a state development to 5 percent if oil prices tumble.
Eni’s royalty payments to the state of Alaska for crude pumped from the Nikaitchuq field will [...]
OPEC shrugs off pleas to raise supply of crude oil
OPEC yesterday dismissed further calls to boost oil output from top consumer the United States, saying the global market is well supplied and the producer group has little control over oil prices near US$90 (HK$702) a barrel.
Qatar’s oil minister said there is no need for OPEC to boost output at its February 1 meeting.
In the [...]
Reliance to invest $1.14 bn in Orissa gas field
NEW DELHI: Reliance Industries will invest $1.139 billion in putting to production the gas fields it has discovered off the east coast, a DGH official said.
Reliance has submitted an initial development plan (IDP) for six gas discoveries in the NEC-25 block in Orissa, envisaging a production rate of 35-40 million standard cubic meters per day.
“We [...]
OVL to pick stake in Iran’s Kish gas block
NEW DELHI: India’s energy ties with Iran, oft shrouded more in myth than reality, may spring some pleasant surprises soon, much to the dislike of Big Brother US.
Indian petro major ONGC Videsh (OVL) is set to sign a deal with Iranian oil major Petropars for a stake in the $30-billion discovered Kish gas block in [...]
Oil Prices Steady Near $92 per Barrel
SINGAPORE (AP) — Oil prices were steady Monday after last week’s decline on concerns that the United States, the world’s largest energy consumer, is headed for an economic recession that would crimp demand for oil.
Energy investors remained focused on recent U.S. government jobs reports that suggest the economy is struggling to make headway against the [...]
