Oil Blog

Gas Price News 9/30/05

Storms, Gas Prices Hit Home
CBS News - USA
... Directors Association warns that heating a typical home with natural gas in colder ... There's also worry that the surge in energy prices, partly reflecting the ...

Ottawa may monitor gas prices
CBC News - Canada
Ottawa wants to create a new agency to watch gas prices at the pump and increase the use of alternate sources of energy. The measures ...

With gas prices this high, try vegetable oil
Globe and Mail - Canada
... So with gasoline prices near record highs, are North Americans ready to embrace ... become significantly less fuel efficient the more ethanol you put in the gas. ...

AAFES keeping Japan, Okinawa gas prices at pre-Katrina levels, for ...
Stars and Stripes - Washington,D.C.,USA
Gas prices at Army and Air Force Exchange Service pumps in South Korea, however, will go up 8 cents on Saturday and Guam's will rise 12 cents. ...

Gas Prices Rising
WSAV-TV - Savannah,GA,USA
Whether you live in the Coastal Empire or Low Country, if you're a driver, you're dealing with some of the highest gas prices we've seen in memory. ...

No Surprise, But Gas Prices Rise In Rita's Wake
KWTX - Waco,TX,USA
... Prices rose Thursday on news that Gulf of Mexico oil production had resumed, but only ... Suspended natural gas production was slightly lower at nearly 80 percent. ...

Gas prices are going up again
Watertown Daily Times - Watertown,WI,USA
... of 71 percent. Mayor John David said the fluctuation of gas prices has made it hard to determine the budget for 2006. "All we can ...

Gas Prices: They Keep Going and …
WXIA-TV - NE Atlanta,GA,USA
... Several gas stations reported brisk business since opening early Friday, with many of them holding prices at $2.99 per gallon of regular unleaded. ...

Rita's Effect Minor on LA Gas Prices
Los Angeles Business Journal - Los Angeles,CA,USA
Hurricane Rita's effect on Southern California gas prices has been negligible and gasoline prices in Los Angeles continued slowly declining. ...

Gas prices going up
Brunswick News - GA, United States
... see prices edge higher in the next few weeks before they start going down.". Despite those increases, Gov. Sonny Perdue said he won't extend the gas tax break ...

OPEC in the News 9/30/05

OPEC daily basket price edges to 58.17 dollars
Islamic Republic News Agency - Tehran,Iran
The price of the OPEC basket of eleven crudes stood at 58.17 dollars a barrel on Thursday compared with dlrs 57.65 the previous day, according to the OPEC ...

OPEC Expects Oil to Stay High in 2006
Arutz Sheva - Israel
... com) Crude oil prices will remain around $60 a barrel through 2006, according to officials of the Organization of the Petroleum Exporting Countries (OPEC). ...

An Opec release on World Oil Demand - September 2005
Polymerupdate.com (subscription) - Bandra,India
Forecast for 2005 - World oil demand growth this month has been revised down for the fifth consecutive time after peaking in April of this year. ...

Inflation up marginally to 3.75 per cent
Hindu - Chennai,India
... During the week, crude-oil prices slipped below USD 64 a barrel after OPEC lowered its demand forecast, supporting the belief that the high retail price of gas ...

Now, Austria...
Turkish Press - Plymouth,MI,USA
... When a terrorist named Ilich Ramirez Sanchez (aka Carlos the Jackal) raided an OPEC meeting in Vienna in 1975 and took 11 ministers hostage, this country ...

Indonesians Brace for Fuel Price Hikes
Leading The Charge - Milton,Queensland,Australia
... Despite being Southeast Asia‘s only member of OPEC , Indonesia has to import oil because of decades of declining investment in exploration and extraction due ...

Oil Price News 9/30/05

Update 9: Oil Prices Fall, but Supply Worries Linger
Forbes - USA
Oil prices pulled back on Friday as traders took profits from surges earlier in the week, but jitters remained over the slow recovery of oil facilities on the ...

Stock markets dip as US consumer spending drops, oil prices move ...
CBC News - Canada
... On the energy front, oil prices slipped Friday as traders monitored the recovery on the US Gulf Coast after hurricane Rita and its possible impact on winter ...

Oil prices steady as refining worries tempered by concerns about ...
Forbes - USA
LONDON (AFX) - Oil prices were largely unchanged after closing up yesterday as jitters about the slow recovery of US Gulf Coast refineries were tempered by ...

Oil Prices Up Interest in Norway Provinces
MSN Money - USA
OSLO, Norway (AP) - Record crude oil prices and technological advances have spurred interest among oil companies for mature oil provinces off Norway, the oil ...

Stocks End Mixed After News of Surging Oil Prices; Crude Tops $67 ...
Black Enterprise - New York,NY,USA
... session mixed Wednesday as investors welcomed new government data showing a reinvigorated industrial sector but wrestled with a jump in oil prices that briefly ...

Oil prices could hit US$100 over next decade: analysts
Channel News Asia - Singapore
SINGAPORE : With world oil prices now hovering around US$65 per barrel, more countries are beginning to worry about long-term energy security. ...

New York oil prices up in choppy trading
Sify - Taramani,Chennai,India
New York: Oil prices advanced in New York on fears over US refineries, but the London market fell and gains were limited by stronger-than-expected US inventory ...

With gas prices this high, try vegetable oil
Globe and Mail - Canada
By BARRIE MCKENNA. Far-fetched, perhaps. But today's sky-high oil prices have sparked renewed interest in a cornucopia of exotic vehicle fuel substitutes. ...

Oil prices lower in midday Asian trade; still above 66 usd on ...
Forbes - USA
SINGAPORE (AFX) - Oil prices were lower in midday trade here but still managed to hold above 66 usd a barrel, with the market remaining jittery at the slow ...

Oil prices rise on concerns about recovery
Philadelphia Inquirer - Philadelphia,PA,USA
... NEW YORK - Crude-oil prices rose yesterday on worries over the laggard pace at which the Gulf Coast's refineries, pipelines and rigs are recovering from ...

Refinery News 9/30/05

Commodities Corner
MarketWatch - USA
... "Consumers would benefit from more refinery capacity and more competition in the refinery business," said Tim Evans, a senior analyst at IFR Markets. ...

Gulf Energy Industry Just Can't Shake Off 2 Hurricanes' Blow
Investor's Business Daily (subscription) - USA
... Combined with the 5% of refinery output shut off after Katrina swamped New Orleans-area plants, Rita's damage could reduce US refinery capacity by up to 15 ...

The next nominee
Lawrence Journal World - Lawrence,KS,USA
... (Wichita Business Journal) Tiahrt authors bills expanding refinery capacity: US Rep. Todd Tiahrt, R-Goddard, is the author of two ...

Refinery News 9/29/05

Gulf oil production still on hold
CNN International - USA
Rita made landfall near seven refineries, which account for 10 percent of the US refinery capacity or roughly 1.7 million barrels per day. ...
See all stories on this topic

Marathon Announces Anticipated Completion of Detroit Refinery ...
PR Newswire (press release) - New York,NY,USA
... The expansion project, announced in late 2003 and which will enter its final stages on September 29, will increase the refinery's capacity from 74,000 to ...

Data do little to assuage fears of fuel shortages
Financial Times - London,England,UK
US drivers face paying higher gasoline prices for longer with traders continuing to worry about the lack of US refinery capacity following the Hurricanes Rita ...

Gas Price News 9/29/05

Crude prices slip as US government reports higher natural gas ...
Canada.com - Canada
... emergency reserve. Natural gas prices slipped to 2 cents to $14.08 per million British thermal units Thursday. Gasoline futures ...

Gas Prices Set Record, Pointing to Costly Winter
New York Times - United States
Natural gas prices climbed to a new record closing high today, presaging higher heating bills for a majority of Americans this winter as well as soaring costs ...

Stocks slide as oil, gas prices increase
BusinessWeek - USA
... Analysts said they expect more jobless claims to come in from both Katrina and Hurricane Rita. Rising oil and gas prices also depressed Wall Street. ...

Gas prices high? Try an eco-friendly, $3.5 mln Skycar
Reuters.uk - UK
CHICAGO (Reuters) - If that Hummer is draining your cash at the gas pump, Neiman Marcus Group Inc. has the perfect holiday gift: A ...

Gas prices shift upward
CNN - USA
... The publisher of the Lundberg survey, a comparable study of gas prices around the US released Sunday, believed that prices will probably fall another 10 to 20 ...

Don't Sweat Gas Prices
Forbes - USA
... Remember when gas prices passed $1 per gallon? Guess. ... Nationwide, gas prices passed that threshold in March of this year. That's right, March 2005. ...

Gas prices beginning to affect consumer behaviour
Globe and Mail - Canada
... Oil, gasoline and natural gas prices all jumped yesterday, on news of a decline in crude inventories in the United States and continuing fears over refining ...

ConsumerWatch: AAA Says These Gas Prices Are Reasonable
Omaha Channel.com - Omaha,NE,USA
... It uses a set formula to determine where retail prices should be. On Wednesday, wholesale gas prices were at $2.30 a gallon. Add ...

Gas Prices Resume Northward Trek
WSBtv.com - Atlanta,GA,USA
ATLANTA -- Gas prices at some metro Atlanta stations have soared past the $3 mark again and more stations are poised to adopt the higher prices. ...

Crude, natural-gas prices each close 0.7% higher
FXstreet.com - Barcelona,Spain
SAN FRANCISCO (AFX) -- November crude closed at $66.79 a barrel, up 44 cents in New York and November natural gas ended the session at a record $14.196 per ...

Oil Price News 9/29/05

Crude prices slip; Gas inventories rise
BusinessWeek - USA
SEP. 29 4:04 PM ET Crude oil prices rose Thursday on worries over the laggard pace at which the Gulf Coast's refineries, pipelines and rigs are recovering from ...

Stocks edge higher as oil prices fall
BusinessWeek - USA
... 2,134.89. Oil prices rose. A barrel of light crude was quoted at $66.79, up 44 cents, on the New York Mercantile Exchange. Bonds ...

Oil crisis hits dairy prices
Brisbane Courier Mail - Queensland, Australia
... Dairy Farmers chief executive Rob Gordon said his company had been absorbing rising oil prices for several months. "However, given ...

Oil prices come off early highs as gasoline falls ahead of ...
Forbes - USA
LONDON (AFX) - Oil prices came off early highs, reflecting falls on gasoline before the expiry of the October contract tomorrow. ...

ECB's Mersch Says High Oil Prices May Push Up Inflation, Wages
Bloomberg - USA
29 (Bloomberg) -- European Central Bank council member Yves Mersch said oil prices at current levels risk boosting wages and feeding inflation, suggesting he ...

Exec: Oil Prices Linked to Capacity Boost
MSN Money - USA
JOHANNESBURG, South Africa (AP) - Higher oil prices and increased profits will give oil companies the incentive and leverage to make billions of dollars (euros ...

Update 9: Oil Prices Flat in European Trading
Forbes - USA
Crude oil prices were flat Thursday in European trading with product prices grinding lower as the market digested a US inventory report that showed shrinking ...

RBC Raises Canadian Dollar Forecasts on Oil Prices, Takeovers
Bloomberg - USA
... RBC Capital Markets Ltd., a unit of Canada's biggest lender, raised its forecasts for the Canadian dollar on expectations rising oil prices will increase the ...

Oil prices rise
Sify - Taramani,Chennai,India
London: World oil prices pushed upwards today as the market focus remained on US refineries, many of which are struggling to restart production after recent ...

German exports seen hampered by high oil prices - chambers of ...
Forbes - USA
BERLIN (AFX) - German exports are expected to slow next year as runaway oil prices put the brakes on growth, the DIHK chambers of commerce federation said. ...

OPEC in the News 9/29/05

OPEC EXPECTS UNSTABLE OIL MARKET
Middle East Newsline - Montreal,Quebec,Canada
OPEC officials said increased oil output would not overcome inadequate refining capacity in major oil consumers in the West and Asia. ...

OPEC daily basket price edges to 57.65 dollars
Islamic Republic News Agency - Tehran,Iran
The price of the OPEC basket of eleven crudes stood at 57.65 dollars barrel on Wednesday, compared to 57.70 dollars the previous day, according to OPEC ...

Opec points to supply chain as cause of price hikes
Financial Times - London,England,UK
... Opec has in the past week faced calls by the group of seven industrialised countries to help depress high oil prices by boosting output. ...

OPEC and the IEA have to get it right this time
International Herald Tribune - France
This time OPEC and the International Energy Agency must get together. The last time world oil prices really exploded, at the time ...

Confusion Reigns as Gasoline Prices Go Wild
Resource Investor - Herndon,VA,USA
... In times like this, it is most evident. "OECD governments expect to be able to blame OPEC for higher prices as a matter of course," said Paul Horsnell. ...

Oil Future News 9/29/05

US stocks inch higher as oil futures dip
Reuters.uk - UK
... In recent days, stocks have closely tracked movements in crude oil futures as concerns mount about the impact of high fuel costs on the economy following the ...

Futures weaken despite deals as oil price rises
MarketWatch - USA
... WASHINGTON (MarketWatch) -- Crude-oil futures consolidated atop $66 a barrel Thursday, as traders again focused on the status of energy facilities' recovery ...

Major markets mixed as oil futures settle under $67
Richmond Times Dispatch - Richmond,VA,USA
Crude oil futures surged higher after the Energy Department reported a larger-than-expected drawdown in the nation's crude oil reserves, although the report ...

US Commodities: Crude Oil Futures Rise On Supply Fears
Business Online - London,UK
NEW YORK -(Dow Jones)- Crude oil futures in New York jumped more than a dollar to settle above $66 a barrel - nearing a week high - as fears of protracted ...

Stocks end mixed as oil futures climb
DetNews.com - Detroit,MI,USA
... welcomed new government data showing a reinvigorated industrial sector but wrestled with a jump in oil prices that briefly sent crude futures above $67 per ...

Rig Notes 9/29/05

Tandem Announces Rig Purchase and Operations Update
Business Wire (press release) - San Francisco,CA,USA
... (OTC:TDYH) (the "Company") today announced that it has completed the previously announced purchase of a second drilling rig. The ...

Kodiak Oil and Gas announces three rigs on location and fourth rig ...
Canada NewsWire (press release) - Canada
... day. One development location is being permitted and will be drilled once approved and a drilling rig becomes available. Williston ...

Oil Future News 9/28/05

Oil futures edge higher ahead of data
MarketWatch - USA
NEW YORK (MarketWatch) -- Crude-oil futures edged back above $65 a barrel Wednesday as traders reviewed the latest damage reports on energy facilities in the ...

Crude-oil futures track lower, below $65 a barrel
FXstreet.com - Barcelona,Spain
Fully 100%, or more than 1.5 million barrels, of daily oil output in the Gulf was offline as of Tuesday as a result of hurricanes Katrina and Rita, according ...

Energy futures edge higher ahead of supply data -
FXstreet.com - Barcelona,Spain
23. October unleaded gasoline prices were up 5.36 cents, or 2.4%, at $2.22 a gallon. Heating-oil futures for October delivery rose 2.44 cents to $2.093 a gallon ...

Rig Notes 9/28/05

Western Lakota Completes Construction of its 30th Drilling Rig and ...
CCNMatthews (press release) - Toronto,ON,Canada
... (TSX:WLE) announces that construction of its fifth 3,600 metre ultra-heavy telescoping double drilling rig has been completed on schedule and the rig is moving ...

Saudi Aramco expands its oil rig fleet by 100 per cent
Asharq Alawsat - London,UK
London, Asharq Al-Awsat- Saudi Aramco is expanding its drilling rig fleet by 100 percent over a two-year period, going from 55 in 2004 to a planned 110 in 2006 ...

Petrobank Announces $38.6 Million Financing and Operational Update
CCNMatthews (press release) - Toronto,ON,Canada
... drilled in the first quarter of 2006 and we have begun purchasing long lead time items and confirmed the availability of a new, state of the art, drilling rig. ...

Gas Price News 9/28/05

State gas prices are said to be insulated
San Diego Union Tribune - United States
... "Gas is really a commodity, and if there is a shortage, prices will rise," Borenstein said. But he noted that shortages -- distinct ...

Katrina, gas prices batter US consumer confidence
Globe and Mail - Canada
... The Conference Board blamed hurricane Katrina, soaring gas prices and less optimism about job prospects for creating "a degree of uncertainty and concern about ...

Update 4: Credit Card Payments Hindered by Gas Prices
Forbes - USA
... "The rise in gas prices is really stretching budgets to the breaking point for some people," Chessen said. "Gas prices are taking ...

Stocks Close Higher Despite Rising Oil and Gas Prices
Black Enterprise - New York,NY,USA
NEW YORK -- Stocks fluctuated before closing modestly higher Monday as oil prices neared $66 a barrel despite lower-than- expected damage estimates from ...

Drop in gas prices for Wellington customers in doubt
Stuff.co.nz - Wellington,New Zealand
A drop in gas prices for 58,000 gas customers in the Wellington region may be in doubt. Two big gas pipeline companies, Powerco ...

Industry predicts higher natural gas prices this winter
FXstreet.com - Barcelona,Spain
... and Rita, stronger customer demand, higher priced natural gas in storage, and anticipated economic growth will place upward pressure on natural gas prices. ...

Arrival Of Cooler Weather Means Higher Natural Gas Prices
WHIOtv.com - Dayton,Ohio,USA
DAYTON, Ohio -- Cold weather in the Miami Valley is right around the corner, and so are higher natural gas prices. The price of ...

Gas Prices Up; Commuters Turn to Buses, Trains
ktla 5 - Los Angeles,CA,USA
By Amanda Covarrubias and David Pierson. Local transit agencies Tuesday reported hikes in bus and rail use since gas prices began their precipitous rise. ...

FTC probes gas prices to root out profiteering
Billings Gazette - MT, USA
... and Western states, including Montana, joined the chorus of government officials and private citizens asking Congress to investigate gas prices, citing "the ...

Refinery News 9/28/05

Cut in refinery capacity still swaying sentiment
Financial Times - London,England,UK
... The focus in oil markets was once again on the lack of refinery capacity following the damage caused by Rita and Katrina in the past month. ...

Tiahrt co-sponsors bills expanding refinery capacity
Wichita Business Journal - Wichita,KS,USA
... The bill will require agencies to give high priority to refinery applications that would result in greater capacity, a cleaner-burning fuel or a reduction in a ...

Oil prices up more than $1 after report
BusinessWeek - USA
Gasoline futures surged nearly 8 percent despite the inventory rise, after the US Department of Energy said up to 15 percent of US refinery capacity could be ...

Crude Oil: Significant Blow, But Not A Knockout
CattleNetwork.com - Stanley,KS,USA
... the Beaumont/Port Arthur, TX and Lake Charles, LA refining centers, 7 refineries, amounting to 1.7 million barrels per day of refinery capacity (10 percent of ...

Storms revive energy debate
Christian Science Monitor - USA
... "The current lack of oil refinery capacity is largely the result of a conscious decision by the oil industry in the 1990s to limit supply to increase ...

OPEC in the News 9/28/05

OPEC rejects UK's Brown comments on lacking transparency regarding ...
Forbes - USA
JOHANNESBURG (AFX) - It is unfair to say that OPEC is not transparent enough regarding its production and its reserves, OPEC interim general secretary Adnan ...

No improvements to refining capacity before 2007: OPEC
Xinhua - China
28 (Xinhuanet) -- OPEC's acting secretary general said here on Wednesday that there would be no improvements to refining capacity before 2007. ...

OPEC daily basket price edges to 57.70 dollars
Islamic Republic News Agency - Tehran,Iran
The price of the OPEC basket of eleven crudes stood at 57.70 dollars barrel on Tuesday, compared with 56.91 dollars the previous day, according to OPEC ...

OPEC Fund grants USD 350,000 for safe water and sanitation scheme ...
Kuwait News Agency - Kuwait
VIENNA, Sept 28 (KUNA) -- The OPEC Fund for International Development today approved a grant of US 350,000 in support of an initiative that aims at providing ...

'G7 understands the oil problem, but solution is beyond them'
Financial Times - London,England,UK
... Opec - in partnership with the world's biggest oil consumers - is already doing this in the form of the Joint Oil Data Initiative, nicknamed Jodi, which is ...

EU energy chief to warn on oil prices
BusinessWeek - USA
... situation," he told the European Parliament in Strasbourg, adding that the EU head office will strengthen contacts with oil-producing countries, including OPEC ...

Oil Price News 9/28/05

Crude prices rise after drop in US crude, heating oil stocks
National Post - Canada
NEW YORK (AP) - Crude oil prices rose more than $1 US a barrel Wednesday after a US petroleum inventory report showed a dip in crude and distillate stocks and ...

Stock market signals mostly positive as crude oil prices slip
National Post - Canada
TORONTO (CP) - Global indicators were mostly positive for North American stock markets early Wednesday as crude oil prices slipped and a big energy deal ...

TSX up on higher oil prices, NY gains on economic data; Vincor ...
Canada.com - Canada
Those higher prices sent New York markets off earlier highs but indexes stayed positive despite higher oil on a rebound of US durable goods orders. ...

Stocks Move Lower on Jump in Oil Prices
Forbes - USA
A sharp jump in oil prices sent stocks narrowly lower Wednesday as investors looked past government data showing a reinvigorated industrial sector. ...

Oil prices on rise again
Australian Financial Review - Australia
Crude oil prices rose more than $US2 overnight after a US petroleum inventory report showed a dip in crude and distillate stocks and a sharp rise in gasoline ...

Stocks Move Lower on Jump in Oil Prices
ABC News - USA
... NEW YORK Sep 28, 2005 -- A sharp jump in oil prices sent stocks narrowly lower Wednesday as investors looked past government data showing a reinvigorated ...

EU's Piebalgs says oil prices having a 'significant negative ...
Forbes - USA
'The European Commission is highly concerned about the current situation in the oil market, characterised by an unprecedented rise in prices,' Piebalgs told ...

Biofuel targets set, but won't affect petrol prices
ABC Online - Australia
... Association. He wants to know why, after the oil prices subsided, many parts of Australia are still paying near record petrol prices. ...

Oil prices lower in Asian trading after Saudi pledge to raise ...
Forbes - USA
SINGAPORE (AFX) - Oil prices weakened further in Asian trading after Saudi Arabia pledged to supply the market with more crude if necessary, dealers said. ...

Oil prices dip ahead of US energy report
Sify - Taramani,Chennai,India
London: Oil prices weakened further today as traders awaited the weekly snapshot of crude inventories data in the United States, dealers said. ...

Gas Price News 9/27/05

Gas Prices Start to Rise in Rita's Wake
Washington Post - United States
... prices should start to decline. Meanwhile, the oil industry continued to assess damage to refineries in Texas and Louisiana and to offshore oil and natural gas ...

Refineries escape damage, but gas prices unlikely to fall
Longmont Daily Times-Call - Longmont,CO,USA
... and keep prices from spiking much above $3 a gallon. That could push production of heating oil back later than usual, they said. The loss of natural gas is ...

Natural gas prices up amid hurricane shutdowns
Houston Chronicle - United States
By DAVID IVANOVICH. Natural gas prices rose today, as the majority of gas production remained shut in the Gulf of Mexico in the wake of Hurricane Rita. ...

Federal Grits get earful over gas prices
National Post - Canada
... "(We'll) ensure that we do put in place a mechanism for monitoring gas and home heating fuel prices in the months ahead," said Industry Minister David Emerson. ...

CBRL says hurricanes, gas prices hit sales
Reuters - USA
NEW YORK, Sept 27 (Reuters) - CBRL Group Inc. (CBRL.O: Quote, Profile, Research) on Tuesday said high gasoline prices and the effects of Hurricanes Katrina and ...

Gas Prices Jump In Maryland, Virginia
NBC 4.com - Washington,DC,USA
... regular. Overnight, gas prices jumped 4 cents to $2.89 per gallon in Maryland and 3 cents to $2.79 per gallon in Virginia. According ...

Steep increase expected in natural gas prices
Simpsonville Tribune Times - Simpsonville,SC,USA
... Residents and city officials already pestered by high natural gas prices last year and this summer have reason to worry about this winter. ...

Rita has gone but fuel prices likely to stay high
CTV.ca - Canada
... And gas prices are now double what they were at the same time last year, rising nearly 12 cents to $12.44 US per thousand cubic feet. ...

After drop, gas prices rise again
DetNews.com - Detroit,MI,USA
... Gas prices across Michigan, which held steady while Hurricane Rita walloped the Gulf Coast, are on the rise again after oil companies said some refineries and ...

Gas Prices:
Informer (subscription) - West Hartford,CT,USA
People all over the nation felt the affects of the gas prices. ... Gas prices have recently returned to about the same price as before Hurricane Katrina occured. ...

Refinery News 9/27/05

Amsterdam shares flat on oil refinery capacity concerns
Forbes - USA
AMSTERDAM (AFX) - Shares on the AEX index were unchanged as worries over the world's oil refinery capacity following Hurricane Rita and a strike at a large ...

White House wants to expand refinery capacity
Washington Post - United States
... said it wants to work on ways to expand US oil refining capacity to increase ... than 90 percent right now and it takes three to four years to permit a refinery. ...

Gulf oil output still shut after Rita
MarketWatch - USA
... refineries dotting the Houston, Galveston and Corpus Christi areas were spared Rita's wrath, leaving nearly 3 million bpd of Texas refinery capacity to resume ...

Hurricanes Fuel Bush's Call for New Refineries, Conservation
Environment News Service - USA
... s hearing on Katrina - if we expect gasoline to remain affordable for America's working people, we absolutely must build additional refinery capacity.". ...

Storms lay bare US refinery crisis
Mail & Guardian Online - Johannesburg,South Africa
... The hurricanes have hit not just refinery capacity but also the pipelines that take the crude products from the Gulf Coast to the rest of the US. ...

President urges Americans to conserve gasoline
Houston Chronicle - United States
... Bush also used the occasion to reiterate his desire to increase the nation's reliance on nuclear power and expand fuel refinery capacity. ...

Status Of Gulf Refineries, Pipelines Slowly Improving
Consumer Affairs - USA
. As of September 26, 23.4 percent of the nation's refinery capacity was off-line. Another 3 percent of US capacity was operating under reduced runs. ...

OPEC in the News 9/27/05

Calls for OPEC to be more transparent
SABC News - Auckland Park,South Africa
Paul Boateng, the British high commissioner to South Africa, today called on the Organisation of the Petroleum Exporting Countries (OPEC) to be more ...

OPEC daily basket price edges to 56.91 dollars
Islamic Republic News Agency - Tehran,Iran
The price of the OPEC basket of eleven crudes stood at 56.91 dollars barrel on Monday, compared to 57.71 dollars the previous day, according to OPEC ...

Before the oil runs out: How US can cope when gas prices surge
ABC News - USA
... That's because the future price of oil, which hinges on everything from OPEC policies to Chinese energy demands, could easily keep going up. ...

GLOBAL MARKETS-Dlr rallies on US rate outlook, shares weaker
Reuters - USA
... US crude shed more than 60 cents to $65.2 a barrel after Saudi Arabia said there were no takers for OPEC's spare supplies, helping prices pull back from a high ...

Oil down as storms, strikes slow refiners
ABC News - USA
LONDON (Reuters) - Crude oil fell briefly below $65 on Tuesday after Saudi Arabia said there were no takers for OPEC's spare barrels with hurricane-battered US ...

Oil Price News 9/27/05

Crude Oil Prices Ease After Robust Rally
ABC News - USA
... BUDAPEST, Hungary Sep 27, 2005 -- Crude oil prices eased Tuesday after a robust rally a day earlier, but markets remained concerned over possible troubles ...

Oil prices settle as refineries recover
CBC News - Canada
World crude oil prices eased today, after a rally Monday driven by concerns about damage to US refineries caused by Hurricane Rita. ...

Burden-sharing on oil prices to continue
Financial Express - Bombay,India
... policy of equitable burden-sharing between the state, oil companies and consumers for absorbing the impact of the upward spiral in international oil prices. ...

US Stocks Are Little Changed; Exxon Declines With Oil Prices
Bloomberg - USA
... A drop in oil prices also weighed on Exxon shares. Crude oil for November delivery today lost 0.5 percent to $65.48 a barrel in New York. ...

Oil prices ease
Sify - Taramani,Chennai,India
London: Oil prices fell today, but remained close to 66 dollars on fresh worries that US refineries, battered by hurricanes Rita and Katrina, could struggle to ...

Robert Wiseman concerned by oil prices UPDATE
Forbes - USA
... supermarket customers locked in a brutal war for market share, Britain's second largest milk processor said it is increasingly concerned by high oil prices. ...

Japan says oil prices hurting industry
BusinessWeek - USA
27 1:56 AM ET Rising oil prices are taking a toll on Japanese industry, prompting the government to convene a special panel to come up with countermeasures, an ...

Oil prices ease after surge
Financial Times - London,England,UK
Oil prices eased in early trading on Tuesday after a late surge in prices during the previous session as traders were assessing the impact from Hurricane Rita ...

Govt to share increasing oil prices: Aiyar
Times of India - India
... equitable burden sharing between the state, oil companies and consumers for absorbing the impact of the upward spiral in global oil prices, Petroleum Minister ...

Thai Aromatics:05 Net THB5B-THB6B If Oil Prices Stay High
Yahoo! News - USA
... Thailand) PCL (ATC.TH), a petrochemical firm, said Tuesday its net profit this year will be around THB5 billion-THB6 billion if oil prices remain high and ...

Rig Notes 9/27/05

Ensco Gets $385 Million Rig Contract
OilVoice (press release) - UK
has received a $385 million contract to provide a group of oil companies with a new version of its ultra-deepwater semisubmersible drilling rig. ...

Dealers busy with demand for rig parts
Billings Gazette - MT, USA
... By the spring, blowout protectors, slips and grips - all used in large drilling rig operations - were in short supply. Stocking ...

Parallel Petroleum Announces 1,400 BOE Increase in Daily ...
Business Wire (press release) - San Francisco,CA,USA
... In order to accelerate development, Dale Resources has secured a drilling rig from Pioneer Drilling Company (AMEX:PDC) for a two year period. ...

Oil Future News 9/27/05

US Stock Futures Are Little Changed Before Confidence Report
Bloomberg - USA
... gain. Crude-oil futures have surged 50 percent in the period. GM, the world's biggest automaker, slid 9 cents to $31.06 in Germany. ...

Oil futures higher after 7-week low on Rita assessment
Investor's Business Daily (subscription) - USA
SAN FRANCISCO (MarketWatch) -- Crude-oil futures moved higher Monday afternoon, rebounding from a seven-week low with traders wary of incoming damage reports ...

Oil Future News 9/26/05

Oil futures fall as damage from Rita less than feared
Boston Globe - United States
Signs that Gulf Coast energy producers survived Hurricane Rita largely unscathed sent oil futures falling yesterday, but analysts said consumers were likely to ...

Oil futures tap a 7-week low on Rita damage assessment
Investor's Business Daily (subscription) - USA
SAN FRANCISCO (MarketWatch) -- Crude-oil futures fell under $63 a barrel Monday to touch their lowest level in seven weeks as damage reports so far from ...

ENERGY PRICE FORECASTING
FXstreet.com - Barcelona,Spain
... Nearby crude oil futures have also backed well off their record high levels of over $70.00 a barrel, also scored in early September, in the wake of the ...

Refinery News 9/26/05

NPRA Supports the President's Call to Increase US Refinery ...
Business Wire (press release) - San Francisco,CA,USA
... Petrochemical & Refiners Association, released the following statement on President Bush's comments calling for an increase in much-needed US refining capacity ...

Indian refiners see cooking gas shortfall in Oct-Nov
Reuters India - Mumbai,India
... million tonnes of LPG annually from Reliance's 660,000-barrels per day Jamnagar refinery. ... up from imports because we don't have enough capacity available for ...

Damage to petrochemical, oil sites appears relatively light
USA Today - USA
... And 5% of refinery capacity is still shut down following Hurricane Katrina, the American Petroleum Institute reports. .ExxonMobil. ...

So just where are oil prices going?
AME Info - United Arab Emirates
... This clearly increases upward momentum to the supply/demand problem based around refinery capacity. What could pull oil prices back? ...

Forget $1 a litre, but prices will come down
Australian - Australia
... AMP Capital Investors chief strategist Shane Oliver said the additional threat to oil supplies and global refinery capacity posed by recent hurricanes would ...

Pak keen on buying Indian machinery for edible oil refineries
Hindu Business Line - India
PAKISTAN is keen to buy edible oil refinery machinery from India as part of its efforts to build refinery capacity. It could also ...

OPEC in the News 9/26/05

OPEC: Expect continued oil volatility
Purchasing.com - Newton,MA,USA
... prepared for delivery Saturday to the to the International Monetary and Financial Committee in Washington, Shihab-Eldin says that despite OPEC's increasing its ...

Opec May Raise Mining Quotas 500,000 Barrels/D at Meeting in ...
RedNova.com - Dallas,TX,USA
Opec may raise its mining quotas by about 500,000 barrels/d at its meeting in Vienna, Austria, on 19 Sep 2005. This would be the ...

OPEC unlikely to be able to create spare capacity
New Ratings - USA
NEW YORK, September 26 (newratings.com) -- Analysts at UBS say that the International Monetary Fund (IMF) is likely to warn this week that the OPEC would not ...

OPEC daily basket price edges to 57.71 dollars
Islamic Republic News Agency - Tehran,Iran
The price of the OPEC basket of eleven crudes stood at 57.71 dollars per barrel on Friday, compared with 59.29 dollars the previous day, according to OPEC ...

Experts clash on abundances of oil reserves
Miami Herald - FL,USA
... ministers asked the Organization of Petroleum Exporting Countries to ramp up production when the Saudi-led cartel met last week in Vienna and OPEC responded by ...

Not Much Point to Extra Opec Production Capacity
RedNova.com - Dallas,TX,USA
OPEC, the oil cartel, has a secret ambition. It wants to be loved ... But as befits Opec, this isnt a big concession. It is not clear that ...

UAE plans to lift oil production to 2.7m bpd
Khaleej Times - Dubai,United Arab Emirates
... He told a reporter that Opec holds extra reserve capacity of 2 million bpd. However, he said the status of this amount in the market depends on world demand. ...

UK's Brown repeats call for oil producers, companies to raise ...
Forbes - USA
... He also called on OPEC nations to become more transparent and 'prevent high prices hurting the poor, and to do what should have been done years ago: promote ...

So just where are oil prices going?
AME Info - United Arab Emirates
... 'Opec is not to blame, it has done everything possible,' said Mr. Franssen. So whatever Opec producers do or do not produce this ...

Gas Price News 9/26/05

Retail Gas Prices Rise, Despite Absence of Severe Damage
New York Times - United States
Average national retail gasoline prices climbed higher this morning for the first time since they peaked over the Labor Day weekend, even as the energy ...

High gas prices raise questions of gouging
Christian Science Monitor - USA
... By tearing through the engine room of the US economy, two hurricanes have pushed gas prices to record highs and stirred a different kind of storm: populist ...

Stocks turn mixed as oil, gas prices rise
BusinessWeek - USA
26 2:42 PM ET Stocks turned mixed in Monday trading as oil prices crept past $65 a barrel even though Hurricane Rita's damage to Gulf Coast refineries appeared ...

Opposition hammer Grits on gas prices
National Post - Canada
... sky-high fuel prices as the House of Commons resumed sitting after a three-month break. Conservative Leader Stephen Harper asked the government to cut gas taxes ...

State gas prices drop
Detroit Free Press - United States
... Michigan survey of 2,800 service stations. Gas prices in metropolitan Detroit rose nearly three cents to an average of $2.66 a gallon. ...

Lundberg Survey: Retail Gas Prices Down 20 Cents
FOX News - USA
... Pump prices for self-serve climbed to a record-high average of more than $3 a ... a month after Katrina, and a significant amount of oil and natural gas output has ...

Mass. gas prices down eight cents over past week
Boston Globe - United States
The survey by AAA Southern New England found no immediate impact on the state's gas prices from Hurricane Rita, which hit the Texas-Louisiana coast over the ...

Oil, gas prices drop in special Merc trading
New York Daily News - New York,NY,USA
Crude prices on the New York Mercantile Exchange dropped $1.33 to $62.86 after hitting a session low of $62.65, the lowest since prices dropped to $62.55 on ...

Adjusting to Higher Gas Prices in Russia
MOSNEWS - Russia
... Even now, with gas prices in Europe and the United States soaring, with people taking to the streets in protest, Russians pay only 18 rubles ($0.63) per liter ...

Higher gas prices expected to dip by Nov. or Dec.
USA Today - USA
... Because many refineries are closed, gas supplies will be tight enough to keep retail prices between $2.75 and $3 for the next couple of weeks, Kloza says. ...

Rig Notes 9/26/05

Fred Olsen renews rig contract with Statoil instead of Drilling ...
Forbes - USA
OLSO (AFX) - Drilling rig owner Fred Olsen Energy ASA said its unit Dolphin AS will renew a contract with Statoil ASA, for the use of a drilling rig, following ...

Anadarko Announces Rig Plan to Deliver on Deepwater Strategy
Business Wire (press release) - San Francisco,CA,USA
... producers signed a four-year rig-share agreement under which ENSCO International Incorporated (NYSE:ESV) will build a new semi-submersible drilling rig with a ...

Dragon Oil 2005 Interim Results
OilVoice (press release) - UK
... The continuous drilling programme is progressing with the Iran Khazar jack-up drilling rig and the Company is seeking to contract a second jack-up drilling rig ...

Illinois oilmen digging in
Chicago Sun-Times - United States
... At the company founded by his grand-father in the 1940s, Mitchell looks to add 10 to 12 more workers and another drilling rig -- big stuff for a business that ...

Energy industry surveys Rita legacy
Financial Times - London,England,UK
... the agreement, Anadarko and two other producers signed a four-year, rig-share contract with Ensco, which will build a new semi-submersible drilling rig to be ...

Oil Price News 9/26/05

Oil prices calm as Hurricane Rita mostly spares US Gulf production
Forbes - USA
LONDON (AFX) - Oil prices steadied amid relief that key oil facilities in the southern United States had mostly escaped severe damage from Hurricane Rita over ...

Oil Prices Dip As Rita Misses Crucial Zones
CBS News - USA
(AP) Crude oil prices fell Monday as markets sighed in relief that Hurricane Rita narrowly missed crucial US petroleum processing zones in Texas. ...

Brown Blames Oil Prices for Cutting Growth
Forbes - USA
Treasury chief Gordon Brown on Monday blamed low economic growth in Europe and soaring oil prices for crimping the expansion of the UK economy. ...

Russian shares drop with world oil prices
RIA Novosti - Moscow,Russia
Moscow, September 26 (RIA Novosti) - Monday saw a decline in Russian share prices after an unexpected drop in world oil prices after news that Hurricane Rita ...

High gas prices raise questions of gouging
Christian Science Monitor - USA
... Recent polls show Americans blame major oil companies for high oil prices, and they aren't happy with President Bush on the issue either. ...

US Treasuries lower along with weaker oil prices
Reuters - USA
NEW YORK, Sept 26 (Reuters) - US Treasury debt prices eased on Monday along with lower oil prices after Texas energy production and refining facilities were ...

Crude oil prices extend slide
China Daily - China
Oil prices slid Monday, holding below $64 a barrel, as markets sighed in relief that Hurricane Rita narrowly missed crucial US petroleum processing zones in ...

Singapore Shares End Up, Falling Oil Prices Provide Boost
Yahoo! News - USA
SINGAPORE (Dow Jones)--Singapore shares rose Monday, buoyed by falling oil prices after the US oil industry escaped major damage from Hurricane Rita, traders ...

Euroshares outlook - higher on Rita impact relief, easing oil ...
Forbes - USA
... that the impact of Hurricane Rita, which hit the US Gulf coast at the weekend, was not as bad as feared, leading to a fall in crude oil prices, dealers said. ...

Stockholm shares higher midmorning on Hurricane relief, lower oil ...
Forbes - USA
... Shares were higher in midmorning trade on relief after Hurricane Rita did not cause as much damage as feared in the Gulf of Mexico, oil prices eased, and Volvo ...

Gas Price News 9/25/05

Refineries Escape Major Damage, but Gas Prices May Still Rise
New York Times - United States
... Retail gasoline prices rose to more than $3 a gallon after Hurricane Katrina. Regular unleaded gas sold for an average of $2.748 a gallon on Saturday, down ...

Gas prices likely to spike again
Miami Herald - FL,USA
... the nation's largest concentration of oil refineries near Houston, but it did enough harm to create short-term problems and a likely spike in gas prices. ...

Rita Likely to Spark Rise in Gas Prices
ABC News - USA
... Gas continues to be in high demand as evacuated residents make their way back ... Coast cities to avoid Hurricane Rita are likely to pay higher prices for gasoline ...

Who profits the most when gas prices rise
Seattle Times - United States
... If motorists are the big losers in the spectacular run-up in gas prices, the companies that produce the oil and turn it into gasoline are the clear winners. ...

Analyst suggests gas prices will ease
National Post - Canada
... key role here. We've grown accustomed to low gasoline prices compared to what Europeans pay and to plentiful supply. In short, we ...

Gas prices expected to drop 6 cents
Lihue Garden Island - Lihue,HI,USA
... Oshiro acknowledged that local prices will be impacted by Hurricane Rita, impacting supply and gas prices in the Gulf Coast region. ...

Editorial: Skyrocketing gas prices are real disaster
The Delaware County Times - Chester,PA,USA
... This past week, a US Senate committee heard a call for a full-blown congressional investigation into why gas prices in this region are still flirting with the ...

Metro gas prices holding
WHAS 11.com (subscription) - Louisville,KY,USA
Louisville -- Drivers in the Metro area have not yet seen any economic effects of Hurricane Rita when it comes to increases gas prices. ...

Experts: Gas prices to soar
Santa Fe New Mexican - Santa Fe,NM,USA
... Gas prices are expected to spike again this weekend after a second deadly hurricane hit the nation's Gulf Coast region Friday and closed major oil refineries. ...

Gas prices may rise again
Tonawanda News - North Tonawanda,NY,USA
... Gas prices remained steady Saturday at about $2.90 to $3 a gallon. They had been slowly falling from record highs in the wake of ...

Oil Price News 9/25/05

Oil prices fall in Rita's wake
Melbourne Herald Sun - Australia
OIL prices fell in extraordinary trading in New York overnight as officials said oil platforms in the Gulf of Mexico and refineries along the Texas and ...

Oil prices dip as Houston spared
CNN International - USA
SINGAPORE (Reuters) -- Brent crude oil prices slipped during an unusual Sunday trading session after a weakened Hurricane Rita struck the US Gulf Coast away ...

Palm, soy oil prices to firm in new oil year
Reuters India - Mumbai,India
MUMBAI (Reuters) - The world must brace for firmer edible oil prices in the new oil year starting in November, with growth in demand exceeding production and ...

Gasoline prices tumble, but what's next?
CNN - USA
... Bill Richardson for a federal investigation into potential price gouging. "Oil prices right now and prices at the pump -- there is no correlation," said Gov. ...

As oil prices rise, Chinese join car pools
Seattle Times - United States
BEIJING -- As oil prices rise, car pooling is taking off in China's biggest cities. But unlike in the West, authorities appear none too happy about it. ...

OPEC seeks 'fair' oil prices - president
Forbes - USA
ABU DHABI (AFX) - OPEC wants 'fair' oil prices and will raise its output ceiling whenever it deems this will promote price stability, the cartel's president ...

Oil Cost May Speed Up Gain in Japan Consumer Prices, Fukui Says
Bloomberg - USA
24 (Bloomberg) -- Rising oil prices may help speed up the timing of a gain in Japan's consumer prices, said Toshihiko Fukui, the country's Central Bank Governor ...

Oil prices drop as Rita weakens
Taipei Times - Taiwan
Crude oil prices dropped sharply on Friday, the second consecutive day of declines, as traders welcomed news that Hurricane Rita had weakened, suggesting that ...

Hundreds stage rally against govt plan to raise fuel prices
Jakarta Post - Jakarta,Indonesia
... including members of the Islamic Hizbut Tahrir movement, urged the government to take other measures to pay the subsidies without raising oil prices and the ...

Chavez attacks Bush, and warns about oil prices.
Newsweek - USA
... He also rules a key oil-producing country, which gives him unusual leverage. ... We have a company [Citgo] that refines daily 800,000 barrels of oil... ...

Oil Future News 9/25/05

Crude Futures Fall in Rare Sunday Trading
ABC News - USA
... NEW YORK Sep 25, 2005 -- Crude oil futures fell sharply in unusual Sunday trading as it appeared that oil rig and refinery damage from Hurricane Rita was less ...

BPCL in talks with NCDEX for futures trading in furnace oil
Hindu Business Line - India
... "NCDEX may come out with futures in furnace oil. ... "For us, participation in furnace oil futures will be more exploratory in nature than otherwise. ...

Futures Movers
MarketWatch - USA
SAN FRANCISCO (MarketWatch) - Crude oil futures retreated Sunday during a special trading session on the New York Mercantile Exchange, as damage reports from ...

Refinery News 9/25/05

NY Oil, Gasoline Drop as Refining Escapes Damage From Rita
Bloomberg - USA
... 22, down 10 percent from the all-time high. ``Refinery capacity is extremely tight after the hurricane season,'' Eivald Roren, president of the World Petroleum ...

Oil prices drop as Rita weakens
Taipei Times - Taiwan
... Friday, the second consecutive day of declines, as traders welcomed news that Hurricane Rita had weakened, suggesting that damage to refinery capacity in the ...

Gasoline prices up like a rocket, down like a feather
Pittsburgh Tribune-Review - Pittsburgh,PA,USA
... Katrina took out of the system more than one-fourth of crude oil production and about one-tenth of refinery capacity, according to the Energy Information ...

US's Bernanke Is `Pretty Optimistic' About Economy (Update1)
Bloomberg - USA
... 23 statement. ``Significant investment is needed in exploration, production, energy infrastructure and refinery capacity,'' the statement said, one of seven ...