Oil Blog

Gas Price News 3/30/06

High gas prices pump up profits for Tullow Oil
Guardian Unlimited - UK
Soaring North Sea gas prices and increased output has led to a near-quadrupling of profits at Tullow Oil. Around half of the Anglo ...

High gas prices have cost GM up to $4B
Oakland Press - Pontiac,MI,USA
Rising gasoline prices have cost General Motors Corp.'s North American operations between $2 billion and $4 billion in lost business, according to estimates in ...

Oil companies didn't fix gas prices post-Katrina: Competition ...
CBC.ca - Alberta, Canada
Gasoline prices surged above the $1.60 a litre mark in some areas of the country after Katrina slammed ashore in Texas and Louisiana. ...

High Gas Prices Not Keeping People Home
WANE - Ft Wayne,IN,USA
(WANE) Spring Break is right around the corner and many people aren’t letting high gas prices stand in their way of some fun in the sun. ...

Gas Prices Increasing on Saturday Night
Arutz Sheva - Israel
... IsraelNN.com) Gasoline prices will increase by 5.2% on Saturday night, with 96 octane fuel selling for NIS 6.01 a liter, the equivalent of $5.13 per US gallon. ...

Gas prices jump as supplies shrink, demand grows
WHO-TV - Des Moines,IA,USA
Prices are up again. The jump ... increased. In the Des Moines area, prices have jumped to two-dollars-and-49-cents at many stations. According ...

Gas prices only expected to rise
California Democrat - California,MO,USA
By ANGIE HUTSCHREIDER. Gas prices across the region may appear to have leveled off, but in fact they are only expected to rise. Nationally ...

Ethanol shortage could up gas prices
USA Today - USA
Gasoline prices will be unusually high and shortages might occur this summer, because the US ethanol industry can't keep up with the demand for fuel-grade ...

Israel gas prices rise by 5 percent
United Press International - USA
... This is the first month that gas prices in Israel, which is set by the government, will be determined according to the self-service fee. ...

Toronto Gas Prices On the Rise
640 Toronto - Ontario, Canada
It's been a long time since we've seen gas prices posted at more than a dollar a litre in Toronto. But that's what we're seeing ...

Gazprom says will charge Belarus European gas prices from 2007
RIA Novosti - Moscow,Russia
MOSCOW, March 30 (RIA Novosti) - Russia's natural gas monopoly will raise prices for Belarus to European levels starting from 2007, the company said Thursday. ...

OPEC in the News 3/30/06

Peace Brings Business to Algeria
The Moscow Times - Russia
... Nowadays, it can be hard to get a seat on a plane to the capital, Algiers, as the giant OPEC oil and gas producer embarks on one of the continent's biggest ...

Crude oil prices will remain high, while foreign experts said ...
ThaisNews - Bangkok,Thailand
... Mr. Songphop added that the crude oil price will remain high due to the OPEC’s inability to invest to increase production capabilities. ...

Gulf of Guinea is key world oil province, OPEC president tells OWA ...
Oil & Gas Journal - Houston,TX,USA
... world, with oil and gas discoveries of more than 10 Bbbl and tremendous potential beyond that level, said Dr. Edmund Daukoru, president of OPEC and Nigeria's ...

Rig Note 3/30/06

PEARL Energy Provides Gulf of Thailand Drilling Update
OilVoice (press release) - UK
PEARL Energy Limited announces the arrival of the ENSCO 107 jack-up drilling rig in the Block B 5/27 contract area in the Gulf of Thailand in preparation for a ...

Afren Secures Nigerian Rig Contract and Appoints Drilling Manager
OilVoice (press release) - UK
... "We are pleased to have secured a drilling rig in the current difficult contracting environment. These two wells will help us add ...

Oil rig worker is badly injured
Anchorage Daily News - Anchorage,AK,USA
State safety officials are investigating a weekend accident that seriously injured a worker on a drilling rig operating in the National Petroleum Reserve-Alaska ...

Oil Price News 3/30/06

Toronto stocks nudge higher on oil, gold prices
Reuters Canada - Toronto,Ontario,Canada
... Reuters) - The Toronto Stock Exchange's benchmark index edged higher on Thursday, supported by a sharp increase in gold prices and oil prices that broke $67 a ...

High oil prices to slow down EA economies - WB
Sun.Star - Philippines
... Asia’s emerging economies are expected to grow at a slower 6.6 percent in 2006 after 6.8 percent last year as the impact of high oil prices continues, the ...

Stocks post rebound despite rising oil prices
Indianapolis Star - United States
... The rebound in stocks came despite another boost in crude oil prices, which rose 38 cents to settle at $66.45 a barrel on the New York Mercantile Exchange. ...

Competition helps depress prices for oil
Billings Gazette - MT, USA
... A special meeting of the Wyoming Pipeline Authority on April 25 will look specifically at the issue of oil prices in the Rocky Mountains. ...

DJ ASIA FUEL OIL: Cargo Prices Steady;Singapore HSFO Stks Dn
TMCnet - USA
(Comtex Business Via Thomson Dialog NewsEdge)SINGAPORE, Mar 30, 2006 (Dow Jones Commodities News via Comtex) --Physical fuel oil prices in Asia were largely ...

Canada's Dollar Rises as Gold, Crude Oil Prices Increase
Bloomberg - USA
... gold reached a 25-year high and crude oil advanced, boosting prospects that the country's economy will get additional support from gains in commodities prices. ...

MARKET WATCH US oil prices holding above $66/bbl
Oil & Gas Journal - Houston,TX,USA
... 30 -- Crude futures prices held above $66/bbl for a second consecutive day ... months, the militants have retreated to their camps after taking oil worker hostages ...

Oil traders, except PTT, raise fuel prices of all categories
Thai News Agency MCOT - Bangkok,Thailand
BANGKOK, March 31 (TNA) – All local oil traders, except PTT Public Company Limited, have decided to raise oil prices of all categories by 0.40 baht per liter ...

Oil prices advance above 67 dollars
Xinhua - China
NEW YORK, March 30 (Xinhua) -- World crude oil prices advanced above 67 dollars Thursday to two months high amid worries of supply, as Iran rejected a UN ...

Oil prices ease
NDTV.com - New Delhi,India
... Gasoline prices slipped less than 1 cent to $1.9465 a gallon (3.8 liters) while heating oil futures also dropped less than 1 cent to $1.8460 a gallon. ...

OGRA to vet OCAC proposals on oil prices
Daily Times - Lahore,Pakistan
ISLAMABAD: The Oil Companies Advisory Committee (OCAC) will continue to perform its basic function of giving initial determination of oil prices after every ...

Gas Price News 3/29/06

Gas Prices Jump Again
WKYT - Lexington,KY,USA
... the summer. People 27 NEWSFIRST talked with about gas prices say they would pay anywhere from $.89 to $1.99. Most people actually ...

AAA: State gas prices may moderate
South Florida Business Journal - Fort Lauderdale,FL,USA
... market futures speculation, the strong domestic supply we now have should bring prices lower before Memorial Day Weekend," Bly said. Statewide, gas is most ...

Praxair raises industrial gas prices
BusinessWeek - USA
29 2:50 PM ET Industrial gas company Praxair Inc. said Wednesday it is raising prices for a variety of gases in response to increased demand and cost pressures ...

Gas Prices on the Rise in Lehigh Valley, Berks County
WFMZ-TV Online - Allentown,PA,USA
Gas prices are starting to climb toward, and in some cases, above the 2.50 mark all over the Lehigh Valley and Berks County. And ...

Season strains gas prices
Green Bay Press Gazette - Green Bay,WI,USA
... What are gas prices causing families to do differently? ... California saw its gas prices jump in 2004 when it switched over to ethanol, he said. ...

World events drive up gas prices
Louisville Courier-Journal - Louisville,KY,USA
... said. "My husband does go out of town quite a bit and does complain about the gas prices. We both do because we travel quite a bit.". ...

Gas prices boost into $2.60s around the area
Elkhart Truth - Elkhart,IN,USA
So what's happening with gas prices in your neighborhood? Call Pump Patrol at 296-5979 and let us know who's up and, hopefully, who's down. ...

Bank governor warns that gas prices are set to push up inflation
Financial Times - London,England,UK
Mervyn King, the Bank of England governor, has criticised the efficiency of the European gas market and says high and volatile gas prices are likely to push up ...

Gas prices jump on news of crude prices, lower inventory
DesMoinesRegister.com - Des Moines,IA,USA
... the national average for regular unleaded gas was $2.50 per gallon, compared with $2.240 a month ago and $2.145 a year ago. US diesel prices averaged $2.648 ...

Gazprom eyes raising domestic gas prices
RosBusinessConsulting - Moscow,Russia
... 17.Gazprom's Board of Directors proposes to consider a number of operational issues at its next meeting, including the feasibility of raising gas prices on the ...

Higher prices and output boost Tullow
RTE.ie - Ireland
... 178.6m, compared with £46.8ma year earlier. The value of sales almost doubled to £445m as oil and gas prices remained strong. ...

OPEC in the News 3/29/06

Petrol price hike likely next month
Business Day - Johannesburg,South Africa
... The rand has been weakening since it touched R5,90 per US dollar on January 19, while the Organisation of Petroleum Exporting Countries (Opec) basket price of ...

Kuwait eyeing budget surplus of $24 bilion
Gulf Daily News - Manama,Bahrain
... The budget is calculated on an average $21 per barrel and oil accounts for up to 90pc of state revenue in the Opec producer which controls nearly a tenth of ...

CORRECTED - CORRECTED-UPDATE 6-Oil rises near $66, Nigeria to take ...
Ninemsn - Sydney,New South Wales,Australia
... 2.5 percent to a seven-week high on Tuesday as Nigeria moved to tackle a deepening supply crisis sparked by militant attacks on the OPEC member's pipelines and ...

Crude prices on Tuesday - rally
Polymerupdate.com (subscription) - Bandra,India
Crude oil prices on Tuesday rallied, surging as concerns regarding growing militant threats in OPEC member country Nigeria prompted supply disruption fears. ...

Kuwait revenues soar to record $43 billion
Gulf Daily News - Manama,Bahrain
... has topped $50. Kuwait has been pumping around 2.6 million barrels per day, above its Opec quota of 2.247m bpd. Non-oil revenues ...

Sector movers: Oil gains strength, Mobile steps back
Life Style Extra - UK
There are concerns that Iran, OPEC's second biggest oil producer, could reduce supplies of oil if the UN imposes sanctions on the country. ...

Oil Price News 3/29/06

High oil prices will force CB to counter inflation - minister
RIA Novosti - Moscow,Russia
... said Wednesday the Central Bank will have to keep tight control of the amount of money in the country's economy to keep inflation down if oil prices remain high ...

Oil prices fall below $66 a barrel on profit-taking
KLFY - Lafayette,LA,USA
LONDON Crude-oil futures fell below 66 dollars a barrel today as some traders took profits after prices surged the previous day on supply concerns. ...

DJ ASIA FUEL OIL: Prices Up;Kochi Refineries Offers Apr HSFO
TMCnet - USA
(Comtex Business Via Thomson Dialog NewsEdge)SINGAPORE, Mar 29, 2006 (Dow Jones Commodities News via Comtex) --Asia fuel oil prices rose Wednesday, in tandem ...

Hamish McRae: Higher US rates, like higher oil prices, will cause ...
Independent - London,England,UK
... But I think not yet. For the time being the world economy will shrug off higher US interest rates, just as it has higher oil prices. ...

OGRA formally gets power to fix oil prices
Online - International News Network - Islamabad,Pakistan
The decision has been taken in backdrop of decision taken by federal cabinet that power of fixing oil prices be taken from Oil Companies Advisory Committee ...

Oil prices fall below $66
NDTV.com - New Delhi,India
... Gasoline prices rose 0.30 cent to $1.8875 a gallon while heating oil futures gained 0.73 cent to $1.8350 a gallon. Natural gas futures ...

Oil prices dip before US inventories data
Daily Times - Lahore,Pakistan
LONDON: World oil prices fell slightly on Wednesday as the market awaited the latest weekly snapshot of US crude inventories. Crude ...

Oil prices ease ahead of US inventory data
Financial Times - London,England,UK
Oil prices eased a little on Wednesday as investors paused following the previous session’s sharp gains, and ahead of weekly US inventory numbers. ...

Higher fuel prices boost Tullow results
IrishExaminer.com - Ireland
... Oil and gas prices will stay high and oil prices will range between $60 and $75 per barrel (€49.86-€62.32) well into the future, he warned.

Oil prices, rate worries weigh on markets
Toronto Star - Canada
... The latest burst came after crude prices advanced two per cent last week and investors ... are behind a spate of attacks that have cut Nigeria’s oil exports by ...

Rig Notes 3/29/06

Independent Resources Reports Significant Progress on Key Projects ...
OilVoice (press release) - UK
... Subject to drilling rig availability, well ST-3 on the large Sidi Toui oil and gas prospect is expected to be re-entered and tested during the third quarter of ...

PA Resources Review of 2005 Results
OilVoice (press release) - UK
... The interest is 3 month Nibor plus 4 % and 3 month Libor plus 4 %. • A drilling contract has been signed with the drilling rig company Diamond Offshore. ...

Drill deal targets shortage
WA Business News - Northbridge,Western Australia,Australia
... The offshore drilling rig shortage has been felt in Australia for more than two years, caused mainly by the distance from the world’s main petroleum ...

Swaziland: E10m water drilling will finally be delivered
African News Dimension - Johannesburg,South Africa
Johannesburg (AND): Senator Mpheni Dlomo, the Director of MPD Marketing Suppliers has announced that the 10 million Emalangeni water drilling rig will be ...

Rig Notes 3/27/06

Western Lakota Announces the Completion of its 38th Drilling Rig ...
CCNMatthews (press release) - Toronto,ON,Canada
(TSX:WLE) announces that it has completed construction of its 38th drilling rig, a 3,600 metre ultra-heavy double drilling rig. ...

Great Plains Reports 2005 Year-End Reserves, Financial Results and ...
Canada NewsWire (press release) - Canada
... few weeks. A drilling rig is currently available for this project which may allow for drilling prior to break-up. The upside potential ...

Mahalo Energy Achieves Strong Financial and Operations Results in ...
CCNMatthews (press release) - Toronto,ON,Canada
... Mahalo has the services of one double drilling rig for its 2006 program, and an additional rig under contract commencing later in 2006. ...

BHP Billiton says ready to drill off Namibian coast
Namibian - Windhoek,Namibia
... drilling. We we are pretty much ready to go but we don't have a line of sight, so to speak, to a drilling rig," Fisher said. South ...

Aker Kvaerner wins contract with Discoverer Invest
Oil & Gas Journal - Houston,TX,USA
... Ltd. in Singapore for delivery of drilling systems and equipment to a Frigstad D90 ultra deepwater semisubmersible drilling rig. ...

Gas Price News 3/27/06

Demand to blame for gas prices
Demopolis Times - Demopolis,AL,USA
... "Watch the stations in your area, find the lowest prices and buy your gas there," Ingram said. "We need to make competition part of the equation again. ...

Rising gas prices may push cab fares
Shanghai Daily - Shanghai,China
... The local planning agency increased retail prices for unleaded, low-octane gasoline to 4.13 ... The price of liquefied petroleum gas rose to 3.10 yuan a liter from ...

Gas prices jump nearly 15 cents a gallon in two weeks
Daily Mail - Charleston - Charleston,WV,USA
CAMARILLO, Calif. -- Retail gas prices across the country climbed an average of nearly 15 cents in the past two weeks, according to a survey. ...

Gas Prices Level Off Across Massachusetts
CBS4Boston - Boston,USA
(CBS4) BOSTON Gasoline prices in Massachusetts are up one cent this week. ... Prices in the AAA Southern New England survey ranged from $2.30 to $2.58. ...

9:25am -- US Gas Prices Surge
Albuquerque Journal (subscription) - Albuquerque,NM,USA
... And to keep up with average gasoline prices at selected cities in the Southwest ... to AAA New Mexico, New Mexico has the seventh highest state average gas price in ...

RI gas prices rise 1 cent, AAA says
Providence Business News - Providence,RI,USA
One week after jumping 18 cents, gasoline prices in Rhode Island this week are up again, but by just a penny, according to AAA Southern New England. ...

Enbridge adjusts gas prices
680 News - Toronto,Ontario,Canada
The cost of natural gas is going down as of April 1, if you by from Enbridge. Based on the combined effect of the Gas Supply Charge ...

GAS PRICES SENSITIVE TO NIGERIA AND IRAN UNREST
CCNMatthews (press release) - Toronto,ON,Canada
Why are the oil markets so sensitive to geopolitical events, such as those in Iran and Nigeria? Two of the 17 major oil exporting ...

Canadian Dollar Little Changed as Oil, Natural Gas Prices Drop
Bloomberg - USA
March 27 (Bloomberg) -- Canada's dollar lingered near a two- month low amid declines in prices for natural gas and crude oil, two of the nation's main ...

Getting Around — Theories on gas prices abound
Frederick News Post (subscription) - Frederick,MD,USA
I surveyed several gas station owners, managers, employees and customers Friday, and the most common philosophical answers I got to why gas prices are climbing ...

Gas prices jump nearly 15 cents a gallon in two weeks
WHEC-TV - Rochester,NY,USA
(AP) - More pain at the pump. The Lundberg Survey says retail gas prices across the country climbed an average of nearly 15 cents in the past two weeks. ...

Oil Price News 3/27/06

GHope to take advantage of high rubber prices
Business Times - Malaysia - Malaysia
... a host of factors which include robust global demand, tight supply due to the rainy season, a pact among the world's top three producers and high oil prices. ...

Airline Stocks Higher, Helped By Dip In Oil Prices
Trading Markets - Los Angeles,CA,USA
(RTTNews) - Airline stocks recorded gains in the early stages of Monday's trading, helped by a moderation in oil prices. The sector ...

Oil prices advance in Asian trade
Sify - Taramani,Chennai,India
Singapore: Oil prices were higher in Asian trade today as the ongoing crude supply disruption in Nigeria, Africa’s largest producer of crude, sent jitters ...

Price of diesel declines despite rising oil prices
The Trucker - USA
The decline comes despite the fact that the price of oil went above $63 a barrel during the same week and comes on the heels of a 3.8 cent a gallon increase ...

As prices surge, oil giants turn sludge into gold
St. Louis Post-Dispatch - St. Louis,MO,USA
... But now, thanks to rising global oil prices and improved technology, most oil-industry experts count oil sands as recoverable reserves. ...

Oil prices stay lower as Nigerian militants release hostages
Forbes - USA
LONDON (AFX) - Oil prices stayed lower, still pressured by news Nigerian militants have released the three foreign oil workers they were holding hostage, but ...

Oil Prices Climb to $64 Per Barrel
African News Dimension - Johannesburg,South Africa
... The announcement pushed oil prices up by 3.5 percent as the US light sweet crude jumped to $64.60 per barrel while the international market benchmark crude ...

High oil prices push fuel prices across the board
Rocklin and Roseville Today - Rocklin,CA,USA
... Although crude-oil prices fell by more than $2 a barrel Monday to $60.42, that's still more than 7 percent higher than a year ago and triple what it was in 2001 ...

Oil prices edge lower but tensions remain as Nigerian militants ...
FXstreet.com The Futures Market - Barcelona,Spain
... Ritterbusch said he still sees gasoline as price leader in the energy complex, adding that crude prices should remain range-bound despite hefty stockpiles and ...

China raises oil prices
Monsters and Critics.com - Glasgow,UK
BEIJING, China (UPI) -- China has raised oil prices to offset refinery losses, conserve energy and bring domestic prices closer to international levels, state ...

Refinery News 3/27/06

 Gulf firms eye Indian refining opportunities
Gulf Times - Doha,Qatar
... will commence. The refinery capacity will be further raised to 12mn tonnes by 2007 end and further to 14mn tonnes by 2008 end.”. ...

Rig Notes 3/23/06

DNO - NORTHERN IRAQ EXPLORATION DRILLING UPDATE
TV2 Nettavisen - Oslo,Oslo,Norway
... Whilst continuing evaluations of well data and preparing for the well test program, the Tawke # 1 will be temporarily suspended and the drilling rig will be ...

Bronco Makes Strategic Acquisition for Bronco/Bigstone Project
CCNMatthews (press release) - Toronto,ON,Canada
... Currently, it is expected that well development costs, including drilling, rig moving, trucking, and cementing, could be reduced by up to 40% per well. ...

Saxon Energy Services Inc. announces 2005 financial results and ...
Canada NewsWire (press release) - Canada
... These investments continue to bear fruit as the Corporation deployed an additional drilling rig into Colombia under contract during the first quarter of 2006 ...
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(PZ) Running Fox Corporate Update, Drilling Another Deep Alberta ...
Houston Chronicle - United States
With drilling by Precision Drilling Rig # 645, the goal is to complete in the productive Wabamun formation, with a secondary zone of interest in the Charlie ...

Gas Price News 3/23/06

Natural Gas Prices Going Down
Opinion250 News - Prince George,British Columbia,Canada
The BC Utiities commission has approved Terasen's request to roll back natural gas prices by eleven percent. The rate changes will ...

Moscow and Beijing face tough talks on gas prices
Financial Times - London,England,UK
... China. He said the cost of constructing the pipelines could be burdensome, especially if China drove a hard bargain on gas prices. ...

Temple gas prices drop one cent since Friday
Temple Daily Telegram - Temple,TX,USA
... cent, to $2.46 per gallon, based on a survey of 19 gas stations Wednesday ... Between March 13 and March 20, US gasoline retail prices recorded their third-largest ...

Area gas prices edging up again
Beaufort Gazette - Beaufort,SC,USA
By GREG JONES. David Sebby refuses to drive his car to work at Carolina Auto Trim because of high gas prices. Instead, the Beaufort ...

DC-Area Gas Prices See Double-Digit Increase
WTOP - Washington,D.C.,USA
WASHINGTON - Gasoline prices around metropolitan Washington have risen to their highest levels in nearly five months. The WTOP Price ...

Gas Prices Set To Skyrocket
NBC Sandiego.com - San Diego,CA,USA
... Since the beginning of the year in San Diego, gas prices have jumped about 50 cents per gallon, despite the fact that the United States currently has its ...

Gas prices head north for spring
The Journal News.com - Westchester,NY,USA
... 20, US drivers have absorbed a 26.4-cent-a-gallon increase. The EIA said that as spring approaches and the weather becomes milder, gas prices usually rise. ...

NEW GAS PRICES FOR ARMENIA ILLEGAL: MP
Arka News Agency - Yerevan,Armenia
/ARKA/. New gas prices for Armenia, set by the RA Commission of Regulation of Public Services, are illegal, Armenian MP Manuk Gasparyan said. ...

Gas prices skim the sky
Auburn Journal - Auburn,CA,USA
... High fuel costs were a sore spot for some pilots. Gas prices were $3.66 per gallon Tuesday and shot up to $3.93 Wednesday. Gas at ...

Canadian Gas Prices Gain as Factories Use More of the Fuel
Bloomberg - USA
March 23 (Bloomberg) -- Canadian natural-gas prices rose as factories switch to the fuel from more expensive products derived from crude oil. ...

Gas prices creeping up
Philadelphia Business Journal - Philadelphia,PA,USA
Pennsylvania's gas prices jumped 10 cents over the weekend, reaching a high not seen since late October, according to the AAA Mid-Atlantic automotive-services ...

Refinery News 3/23/06

BP pulls out of Bhatinda refinery JV
Business Standard - India
... Besides, major capacity additions are planned both in private and public sector, leading ... joint venture vehicle to build a 9 million tonne refinery at Bhatinda ...

A security system is needed to stabilize the Gulf
Daily Star - Lebanon - Beirut,Lebanon
... That is because the surge in demand for energy supplies from Asia is bound to stay on the up, while the shortage of refinery capacity will take decades to ...

Oil production increase
Minot Daily News - Minot,ND,USA
... Mandan, which had its biggest year ever last year. He said refinery capacity appears adequate to handle the current oil production.

India vows more refinery growth despite glut fears
Reuters India - Mumbai,India
... Simple refinery margins in Singapore, a proxy for Asia, have remained mostly above $2 ... out big plans to increase processing to alleviate a capacity crunch that ...

OPEC in the News 3/22/06

Morocco : OPEC Fund loans Morocco $10Mn for rural development ...
African News Dimension - Johannesburg,South Africa
OPEC Fund for International Development loaned Morocco USD 10Mn to finance the oriental Middle Atlas rural development project, said the Moroccan embassy in ...

Oil prices drop as OPEC trims back demand forecast
Taipei Times - Taiwan
Oil prices slipped on Friday after OPEC lowered its demand forecast for this year and amid signs that US crude oil inventories are growing. ...

OPEC to meet in June in Caracas: Venezuelan president
Xinhua - China
CARACAS, March 21 (Xinhua) -- The Organization of Petroleum Exporting Countries (OPEC) is scheduled to meet in Caracas on June1, Venezuelan President Hugo ...

OPEC March output falls 300,000 bpd vs Feb - consultant
Reuters South Africa - Johannesburg,South Africa
LONDON (Reuters) - OPEC pumped 300,000 barrels per day (bpd) less crude oil in March than February after attacks hit supply from Nigeria, tanker-tracking ...

OPEC March output falls 300,000 bpd vs Feb - consultant
Reuters South Africa - Johannesburg,South Africa
LONDON (Reuters) - OPEC has pumped 300,000 barrels per day (bpd) less crude oil in March than in February after militant attacks hit supply from Nigeria, tanker ...

OPEC March output seen down 350,000 barrels a day
MarketWatch - USA
LONDON (MarketWatch) -- OPEC is expected to pump 29.7 million barrels a day of crude in March - a drop of 350,000 b/d on the revised total for February as ...

Accord For Construction Of Five Schools Signed
AngolaPress - Angola
Luanda, 03/22 - Angola and the OPEC Fund for International Development signed on Tuesday in Viena (Austria), an accord for the construction of five secondary ...

Oil Price News 3/22/06

Government vigilant on oil prices
Daily Mail - UK - UK
It would also continue to be "vigilant" on oil prices. Mr Brown said that growth would be 2%-2.5% in the coming year, rising to 2.75%-3.25% in 2007-8. ...

Gas, heating oil prices up again
Newsday - Long Island,NY,USA
... Experts blame crude oil prices and the shutdown of some refineries for maintenance that had been deferred in the weeks after Hurricane Katrina. ...

DJ ASIA FUEL OIL: Prices Up; Shell Buys 100,000 MT Of HSFO
TMCnet - USA
(Comtex Business Via Thomson Dialog NewsEdge)SINGAPORE, Mar 22, 2006 (Dow Jones Commodities News via Comtex) --Asia fuel oil prices rose Wednesday, due to ...

Canada's Dollar Touches 2-Month Low as Gold, Oil Prices Decline
Bloomberg - USA
March 22 (Bloomberg) -- Canada's dollar touched a two-month low versus its US counterpart as prices of commodities including crude oil and gold declined. ...

Oil prices edge higher after US inventory report shows stock draw
Forbes - USA
LONDON (AFX) - Oil prices edged higher after a US government data showed energy stockpiles declined last week, but gains were limited by increased refinery runs ...

Commentary: Nationalized oil resources, political instability ...
Albuquerque Tribune - Albuquerque,NM,USA
... The common wisdom has been that rapid growth in China and to a lesser extent, India, is responsible for driving up world oil prices. ...

Canadian Stocks May Resume Slump as Gold, Oil Prices Decline
Bloomberg - USA
... bullion producers including Glamis Gold Ltd. and oil companies such as Suncor Energy Inc. decline with the prices of gold and crude. ...

Crude oil prices fall
NDTV.com - New Delhi,India
Oil prices dipped ahead of the release of a weekly fuel inventory report by the US Government expected to show a hefty increase in crude oil inventories. ...

Stock markets mixed amid Microsoft delay, lower oil prices, GM ...
CBC News - Canada
... tech sector reacted to disappointing news from Microsoft Corp. and oil prices dipped ahead of weekly inventory data from the US. ...

Stable oil prices might be a good thing for energy-heavy TSX
Globe and Mail - Canada
As oil prices oozed up a little yesterday, helping restore a bit of the ground they stole Monday from Canada's benchmark equities index, one investment ...

Oil prices ease ahead of US stocks report
TODAYonline - Singapore
World oil prices weakened as traders anticipated a healthy market update on crude stockpiles in the United States, the world's biggest energy consumer. ...

Rig Notes 3/22/06

UPDATE:China Oilfield Svcs '05 Net +17%, Sees Strong '06
Yahoo! News - USA
(This updates an item published at 0530 GMT, with the company's outlook on its drilling day rate, a deepwater drilling rig venture with CNOOC and an analyst's ...

AKVER - AKER KVAERNER AWARDED DRILLING SYSTEM CONTRACT
TV2 Nettavisen - Oslo,Oslo,Norway
... with Discoverer Invest Ltd in Singapore for delivery of drilling systems and equipment to a Frigstad D90 ultra deepwater semi- submersible drilling rig. ...

Four operators join Aussie multiwell program
Oil & Gas Journal - Houston,TX,USA
... For that and its work for the other operators in the program, Peak will hold the contracts for the drilling rig, supply vessels, third-party service contracts ...

Gas Price News 3/22/06

Shell gas prices up by 6¢
Pacific Daily News - Hagåtña,GU,USA
... Because of rising fuel prices, Lujan has had to pass the increased costs to customers' wallets. "The price of gas -- it's affecting us in every way," Lujan said ...

High natural gas prices hit pet-chem firms
Monsters and Critics.com - Glasgow,UK
NEW YORK, NY, United States (UPI) -- North American chemical companies faced short-term margin pressure last quarter from a quick rise in natural gas prices. ...

Gas prices begin seasonal climb
Myrtle Beach Sun News - Myrtle Beach,SC,USA
Now that the calendar says it's spring, flowers and gas prices are blooming again in the Carolinas. A gallon of regular gasoline ...

MassElectric prices to drop Officials cite moderation in natural ...
Lowell Sun - Lowell,MA,USA
... Spokesman David Graves said the state had been operating under rates set in 2002, and last fall's spikes in oil and gas prices had not been factored in until ...

AT THE PUMP, PRICES TICK SUDDENLY UPWARD
Oswego Palladium Times - Oswego,NY,USA
... would just give her first name - Melissa - said the business hasn't had a gas station long enough for her to see what effect fluctuating gas prices are having ...

Oil firms cut gas prices, hike diesel by P.50/liter
Manila Bulletin - Philippines
... the increase of P0.50 per liter in diesel and kerosene prices will be ... also imposed P1.00 per kilogram cutback in their liquefied petroleum gas (LPG) products ...

New Government Rules May Fuel Gas Prices
Consumer Affairs - USA
... to a US Energy Department assessment. Gas prices are already rising quickly, with the national average now above $2.50 a gallon. ...

Gas prices bringing the pain
Shreveport Times - Shreveport,LA,USA
... she said. Russell said the spike in gas prices has caused her to eat in a lot more, and to cut down on most of her shopping. "I can ...

AAA: March signals surge in gas prices
Baltimore Business Journal - Baltimore,MD,USA
Gas prices have increased nationally 26 cents since the beginning of March, AAA Mid-Atlantic said. ... Gas prices in Baltimore also average $2.52 a gallon. ...

Gas Prices Expected To Keep Rising
WSOCtv.com - Charlotte,NC,USA
CHARLOTTE, NC -- Gas prices have spiked nearly $0.14 in the last week nationwide. Prices at the pump haven't been this high since ...

Refinery News 3/22/06

SEEING RED AT THE PUMP - AGAIN
Westerly Sun - Westerly,RI,USA
... further tightened gasoline supplies" by "initially taking out more than 25 percent of US crude oil production and 10-15 percent of refinery capacity." It also ...

Revised Forecast for Airline Financial Performance; 2006 Losses ...
U.S. Newswire (press release) - Washington,DC,USA
... Instead of expanding refinery capacity, the oil companies plan to return a quarter of a trillion dollars to investors over the next two years. ...

BRIAN LEE crowley
ChronicleHerald.ca - Halifax,Nova Scotia,Canada
... the ground. We have a flow problem – we’re having difficulty getting the reserves to market, and refinery capacity is tight. ...

Reliance, Indian Refiners' Fuel Exports to Rise After Expansion
Bloomberg - USA
... oil annually. It would double capacity at its refinery in Panipat to 12 million tons annually by June. Hindustan Petroleum Corp. ...

Oil Price News 3/20/06

Oil prices fuel sweet sugar returns
International Herald Tribune - France
... past 12 months, is poised to beat returns on bonds, stocks and oil for a ... Prices are soaring as record gasoline costs prompt Brazil, the world's biggest sugar ...

Crude Oil Prices Drop
Zaman Online - Istanbul,Turkey
... Due to concerns about problems relating to Iran, Iraq, and Nigeria, international crude oil prices remain 12 percent higher than last year.

Canadian Dollar Falls Most in Almost Two Weeks; Oil Prices Drop
Bloomberg - USA
March 20 (Bloomberg) -- Canada's dollar fell the most in almost two weeks as crude oil prices dropped. Crude oil and the Canadian ...

Lower oil prices drag TSX down
Toronto Star - Canada
... "I think the market has been remarkably resilient in the face of rising interest rates and very high oil prices," said Douglas Davis, president of Davis Rea Ltd ...

Crude Oil Prices Fall Monday, Unaffected by Niger Pipeline Attack
AXcess News - Carson City,NV,USA
(AXcess News) New York - Crude oil prices fall Monday, unaffected by an Niger Delta rebel attack on an Italian oil company's pipeline this weekend. ...

Schlumberger CEO energy prices to stay high on demand
MarketWatch - USA
... "Economies in the OECD countries proved remarkably resilient to high oil prices," Gould said in the kickoff speech at the Howard Weil conference. ...

Airlines Gain on Low Oil Prices
Houston Chronicle - United States
NEW YORK — Airline stocks took off Monday as crude oil prices dipped on lower demand and rising inventories, and after word of modest fare hikes emerged from ...

With supplies rising, oil prices fall
San Diego Union Tribune - United States
VIENNA, Austria – Oil prices slid Monday, maintaining downward momentum from late last week after OPEC lowered its demand forecasts and US crude oil ...

Oil prices slip further, weighed down by bulging US crude stocks ...
FXstreet.com The Futures Market - Barcelona,Spain
He conceded that in the longer term, "international competition for oil supplies and energy security will serve to push prices to ever higher records ...

Major Averages Close Mixed Amid Steep Drop In Oil Prices - US ...
Trading Markets - Los Angeles,CA,USA
(RTTNews) - Wall Street put in a mixed performance on Monday. A fall in oil prices and some strength among technology sectors gave support to the markets. ...

Refinery News 3/20/06

Nation to increase refinery capacity
Xinhua - China
BEIJING, March 20 -- China plans to increase its refining capacity by one-third by 2010 as it races to keep up with surging demand for oil and refined products ...

Valero says Port Arthur work delayed till Q4
Reuters - USA
... Lake City. Valero took over the project to expand the refinery's capacity to 325,000 bpd when it purchased Premcor Inc. last year.

China plans to substantially increase refinery and ethylene ...
Polymerupdate.com (subscription) - Bandra,India
According to domestic media reports in China, by the year 2010, the country plans to increase its refinery capacity by 31.6% while more than doubling its ...

US Refiners Wary About Capitol Hill, Specter Of Oversupply
CattleNetwork.com - Stanley,KS,USA
... Johnson touted the EPA's efforts to address refiners' concerns, recalling the incentives for refinery capacity expansion and the renewable fuels standard ...

China : Improved oil outputs by 2010
Fibre2fashion.com - India
China is pondering over new schemes and working hard so as to shoot up its refinery capacity by 31.6 percent and almost increase its ethylene output twofold by ...

Angola says in JV with China to build refinery
Reuters South Africa - Johannesburg,South Africa
... onstream. Angola has said in the past that it would like to see the refinery's capacity reach about 200,000 barrels per day. Local ...

NPRA's 104th Annual Meeting Opens in Salt Lake City, Utah ...
Business Wire (press release) - San Francisco,CA,USA
... Finally, "Making the Case for Increased Refinery Capacity" will look at the challenges of adding increased domestic refining capacity to meet the supply ...

China plans to boost refinery capacity
Daily Journal (subscription) - Caracas,Venezuela
SHANGHAI, China (AP) – China plans to increase its refining capacity by about one-third by 2010 as it races to keep up with surging demand for oil and ...

Gas Price News 3/20/06

Canadian Natural-Gas Prices May Fall Amid High Storage Levels
Bloomberg - USA
March 20 (Bloomberg) -- Canadian natural-gas prices may fall as US reserves of the fuel in storage are poised to end the winter heating season at the highest ...

Gas prices climb
Brunswick News - GA, United States
... "What we found during our last survey, when gas prices were high, was that there was no effect on hotel traffic," he said. "We are ...

State's gas prices jump 16 cents in single week
Boston Globe - United States
... The most recent survey found gas as low as $2.27 to as high as $2.54. ... Massachusetts by AAA of Southern New England occurred in August 2003, when prices rose 17 ...

Spring has sprung, and so have gas prices
Hope Star - Hope,AR,USA
... her patrons. “I tell them, I don't know why gas prices have increased, and I really do not know,” she said. Traci Rogers is ...

State gas prices up nearly 40 cents in four weeks
Detroit Free Press - United States
The average price of self-serve regular gasoline in Michigan is up 39.2 cents per gallon over the past four weeks, AAA Michigan said Monday. ...

Gas prices up to highest level since Oct.
BusinessWeek - USA
... Pump prices are still 39.5 cents higher than a year ago. The jump in retail prices follows a 42-cent-per gallon rise in unleaded ...

AAA: Montana gas prices at highest level since December
KAJ News - Kalispell,MT,USA
... AAA says the high prices are partly due to oil prices near 63-dollars a barrel; as well as seasonal maintenance at refineries, which temporarily limits ...

India expects natural gas prices to rise
Sify - Taramani,Chennai,India
New Delhi: Natural gas prices in India are expected to be in the range of $4.5-5.0 per million British Thermal Units (BTU) in the long run, a top government ...

Why Are Gas Prices Going Up Again?
WSOCtv.com - Charlotte,NC,USA
... up. A representative of AAA in Charlotte has an answer. Tom Crosby, of AAA, said gas prices usually goes up in the spring. Crosby ...

Gas prices up for third week
WLNE-TV (ABC6) - Providence,RI,USA
Gas prices in Rhode Island are up for a third straight week, and much higher than last week. A survey by the state Energy Office ...

Fla. Gas Prices Could Reach $2.80 In Summer
Local6.com - Orlando,FL,USA
"Already in Florida, gas prices are up just 13 cents in just a month," Florida Today online news editor Dave Larimer said on Local 6 First News Monday. ...

OPEC in the News 3/20/06

Update 2: Oil Prices Drop on OPEC Demand Forecast
Forbes - USA
... OPEC, which cited lower consumption in the US and Asia, said its prediction comes after signs of larger oil inventories in the US, along with higher demand in ...

Major Averages Choppy In First Half Of Monday's Trading - US ...
Trading Markets - Los Angeles,CA,USA
... In the first half of Monday's session, a decline in oil prices helped support stocks. The decline came after OPEC lowered its demand forecast for the year. ...

OPEC's Long-Term Strategy: Basics and Challenges
Dar Al-Hayat - Saudi Arabia
A report was released this month summing up an exhaustive study on "OPEC's Long-Term Strategy." This project goes back to decades ago, when the cartel tried to ...

Saudi's Naimi not worried by US crude stock build
Deepika - Kottayam,India
... for consuming countries to build stocks,'' Naimi told a news conference, referring to concerns about the security of supplies in some OPEC producers such as ...

Why oil prices will keep rising
Firstrung - London,UK
... So production from them was fast built up and Opec consequently cut back its own production until it was only running at about 60% of capacity. ...

Rig Notes 3/20/06

JKX Oil & Gas - Overview of 2005 Results
OilVoice (press release) - UK
... A second drilling rig was mobilised from Poland in December and is currently being utilised for both drilling of new wells and workovers. ...

Local man pushes on in quest to help Kenyans find water
MetroWest Daily News - Framingham,MA,USA
... Michael Martino, who began a humanitarian mission to bring clean water to Kenya more than 10 years ago, said he won't give up until the drilling rig he has ...

Canadian Superior contracts Kan Tan IV semi-submersible drilling ...
Oil Online - TX,USA
has entered into a firm multi-well contract for the Kan Tan IV Semi-Submersible Drilling Rig, managed by AP Moller - Maersk A/S, of Copenhagen, Denmark, and ...
See all stories on this topic

The Peak Group leads eight well programme in Australia
Oil Online - TX,USA
... coordinators and well-site geologists. The semi-submersible drilling rig, the ‘Stena Clyde’ has been contracted for the programme. ...

Oil Price News 3/16/06

Russian Energy Minister Says High Oil Prices Hamper Global ...
MOSNEWS - Russia
Russia’s Industry and Energy Minister Viktor Khristenko said on Thursday, March 16, that high oil prices hamper global economic growth and affect poor nations ...

Update 6: Oil Prices Advance in Technical Rally
Forbes - USA
Oil prices rose Thursday in what analysts chalked up as a technical rally that followed earlier selling. "Basically we hit some support levels ... ...

Nymex energy prices fall
United Press International - USA
... March 16 (UPI) -- The New York Mercantile Exchange was hard on energy futures Thursday, with price declines in all commodities, with crude oil prices just more ...

Oil prices extend decline as higher inventories weigh
Financial Times - London,England,UK
By Kevin Morrison. Crude oil prices extended their falls on Thursday following the release of data showing a further rise in US commercial oil inventories. ...

DJ ASIA FUEL OIL: Prices Down; Spot Premiums Cool On Stocks
TMCnet - USA
(Comtex Business Via Thomson Dialog NewsEdge)SINGAPORE, Mar 16, 2006 (Dow Jones Commodities News via Comtex) --Asian fuel oil prices retreated Thursday while ...

Oil prices may drop below $60 per barrel - IEA
Interfax Russia - Moscow,Russia
March 16 (Interfax) - World oil prices may drop below $60 per barrel in the near future, International Energy Agency Deputy Executive Director William Ramsay ...

Oil prices flat in Asian trade
Forbes - USA
SINGAPORE (AFX) - Oil prices were flat in Asian trading hours as the market balanced news of ample crude supplies in the US with geo-political concerns over ...

W&T Offshore 4Q Profit Jumps on Prices
Houston Chronicle - United States
... million barrels of oil. Natural gas fetched $7 per thousand cubic feet a year ago, while oil prices averaged $42.72 per barrel. ...

Oil prices to stabilize at $50-60 per barrel soon - OPEC
RIA Novosti - Moscow,Russia
MOSCOW, March 16 (RIA Novosti) - Oil prices will stabilize at $50-60 per barrel in the near future, a senior OPEC official said Thursday. ...

Oil Prices Lead Stocks To A Mixed Finish
All Headline News - USA
New York, NY (AHN) - A rise in oil prices leads to a mixed finish for US stocks on Thursday. The Dow Jones Industrial Average went ...

Rig Notes 3/16/06

PA Resources Reports Tunisia Operations and Activity update
OilVoice (press release) - UK
PA Resources AB entered in December last year into a drilling contract with Diamond Offshore to charter the 300ft jack-up drilling rig `Ocean Spur` for a ...

Blina Diamonds
Mineweb - Johannesburg,South Africa
· Major evaluation of Terrace 5 gravels upstream of Cut 1 to commence in April/May 2005 utilising large diameter Bauer drilling rig. ...

Oracle Energy Corp.: Update on Romanian Oil and Gas Fields ...
CCNMatthews (press release) - Toronto,ON,Canada
... Carpathian intends to purchase a trailer-mounted drilling rig capable of drilling to a 5000 foot depth in order to expedite and more efficiently drill new ...

(PRN) Lexington Resources Further Arkoma Basin CBM Drilling to ...
Houston Chronicle - United States
... certain targets. Shallower vertical wells are to be drilled by a smaller, more cost effective drilling rig. Developed wells that ...

Tesco Corporation Reports Fourth Quarter and Full Year 2005 ...
MSN Money - USA
... Proceeds from the sale of its Driller's Technology stock as well as its drilling rig assets during the fourth quarter were used to pay down a portion of the ...

Gas Price News 3/16/06

Area gas prices climb 14 cents in a week
Fort Worth Star Telegram - Fort Worth,TX,USA
... “The jump in retail gas prices is partly due to the seasonal production switch from winter- to summer-grade gasoline,” said Rose Rougeau of AAA Texas. ...

US gas prices may reach $3 per gallon
United Press International - USA
... Gas prices have climbed by about 30 percent in the past month, partly because the changeover to the corn ethanol mix in April is prompting fears of shortages ...

Demand, political tensions pushing gas prices higher
Huntsville Times - Huntsville,AL,USA
Heading into spring break week for many area families, gas prices continue to climb, and there's more to blame than the seasonal rise in gas demand as warmer ...

Gas prices keep rising
Pacific Business News - Honolulu,HI,USA
... Hawaii prices are still a few cents below the levels here a month ago. Price trends in the island lag the Mainland because the gas cap delays such effects for ...

New supplier, lower gas prices?
13abc.com - Toledo,OH,USA
... "If gas can be brought through Chicago, it will put downward pressure on prices, but it will depend on how much North Coast can bring into the market.". ...

Gas prices do usual jump before summer
24 Hours Vancouver - Canada
... gasoline," said Jason Toews, cofounder of Gas Buddy Inc. Toews said that recent price increases are part of an annual trend, which sees prices rise before ...

AAA Chicago's Monthly Fuel Report Shows Gas Prices Increase ...
Autochannel - USA
... year.". In northern Indiana, gas prices average $2.42, which is up 18 cents from February and up 33 cents from March 2005. * In Cook ...

RISE IN GAS PRICES TO BE COMPENSATED FOR IN ARMENIA
Arka News Agency - Yerevan,Armenia
... According to him, compensations will be paid in any cases independently of the rise in gas prices. “We have a lost of means of compensation. ...

OPEC in the News 3/16/06

A New Spike at the Pump?
BusinessWeek - USA
... Online reporter Alex Halperin about why the government is changing the rule, how events in Iran and Nigeria could affect prices, why OPEC is losing influence ...

Dow, Nasdaq Post Gains on Economic Data
Ely Times - NV, USA
... to 2,316.72. Crude oil futures rose despite US oil inventories and signs from OPEC OPEC that it expects prices to stabilize. A barrel ...

OPEC output increased last month
Alarab online - London,UK
... The latest estimates show the OPEC-10 producing just 130,000 barrels per day in excess of their 28 million barrel per day output ceiling.

UNODC, OPEC Fund launch $4 million HIV/AIDS prevention project in ...
Harold Doan and Associates (press release) - Rocklin,CA,USA
The United Nations Office on Drugs and Crime (UNODC) and the OPEC Fund for International Development are launching a four million dollar project to improve HIV ...

Oil Prices Slip on OPEC Official Remarks
Brocktown News - NV, USA
VIENNA, Austria - Oil prices slipped Thursday after an OPEC official said he expected prices to stabilize at between $50 and $60 per barrel. ...

Oil prices slip on OPEC official remarks
BusinessWeek - USA
MAR. 16 12:07 PM ET Oil prices slipped Thursday after an OPEC official said he expected prices to stabilize at between $50 and $60 per barrel. ...

UN, OPEC launch joint $4 million HIV/AIDS prevention project in ...
UN News Centre
16 March 2006 – The United Nations Office on Drugs and Crime (UNODC) and the Organization of Petroleum Exporting Countries (OPEC) Fund for International ...

Refinery News 3/15/06

Pakistan Asia’s Emerging Energy Hub
Pakistan Link - Inglewood,CA,USA
... development in major countries such as China and India, which coincides with constrained global oil production and restricted refinery capacity worldwide. ...

Malfunction Slows Production at Refinery
Houston Chronicle - United States
... Moorehead said it could take up to two weeks to get the refinery in the island of St. Croix back to its daily maximum capacity of 500,000 barrels of gasoline ...

US crude stocks rise sharply, gasoline slips: EIA
Herald News Daily - Williston,ND,USA
... Refinery utilization increased by 2.7 percentage points to 85.7 percent of capacity, the EIA said. Analysts in the Reuters survey ...

'Addicted to Oil'
VillageSoup Belfast - ME, USA
... In addition to being one of the top four oil-producing countries in the world, the United States also has far more refinery capacity than any other country ...