Oil Blog

OPEC in the News 4/26/06

Larijani says US seeks nuclear OPEC in 20 years
MehrNews.com - Tehran,Iran
... on Wednesday, Supreme National Security Council Secretary General Ali Larijani said that the United States is seeking to establish a nuclear OPEC within twenty ...

PanAfrica: OPEC Pumps 29.76mb/d in March, Down 160,000 b/d
AllAfrica.com - Washington,USA
OPEC'S eleven members, including Iraq, pumped an average 29.76 million barrels per day (b/d) of crude in March, down 160,000 b/d from February's 29.92 million b ...

OPEC nations, American profligacy and politicians' posturing all ...
Houston Chronicle - United States
Many factors contribute to the sharp rise in the cost of oil and gasoline: Global demand is rising and occasionally overtakes supply. ...

Hydrocarbons Daily Record Report
Falkland Islands News Network - Stanley,Falkland Islands
... decline. Excuses for this are OPEC’s refusal to increase supply and rumours that oil reserves in the Middle East are past peak. ...

OPEC concedes it can't rein in oil prices
International Herald Tribune - France
DOHA, Qatar OPEC ministers conceded on Monday that there was nothing they could do to halt the rise in oil prices, which is threatening the economies of ...

High rates, input costs increase energy projects’ risk: Opec ...
Gulf Times - Doha,Qatar
... rates, rising input costs and uncertainty over future demand have considerably increased the financial risk profile of energy projects in Opec countries as the ...

It will not be easy to impose sanctions on Iran
MehrNews.com - Tehran,Iran
“Iran has the longest coastlines in the Persian Gulf and the Oman Sea, it controls the Hormuz Strait, it is the second largest oil producer in OPEC, has the ...

Oil cheapest in US among G7: Opec
Peninsula On-line - Qatar
Doha: Opec has released figures that suggest that much of what the end-user pays for oil goes to the industry and the governments in the form of taxes. ...

OPEC President Applauds Quantapoint and Ariosh Work in Nigeria ...
Business Wire (press release) - San Francisco,CA,USA
ABUJA, Nigeria--(BUSINESS WIRE)--April 26, 2006--OPEC President, Dr. Edmund Daukoru was campaigning for companies working in Nigeria to embrace a local content ...

Oil Price News 4/26/06

Oil prices ease after data on fuel demand
Business Times - Malaysia - Malaysia
WASHINGTON: Crude oil futures eased for the third straight day yesterday, trading below US$73 ... motor fuel demand is weakening in the face of higher pump prices. ...

Ghana: Fuel prices to go up by 30%?
African News Dimension - Johannesburg,South Africa
... Crude Oil prices on the world market have gone beyond the 70 dollar mark over the past two weeks. According to the source the continued ...

Soaring oil prices put Reserve under pressure to lift rates
The Age - Melbourne,Victoria,Australia
... home buyers will be stung by higher interest rates have increased amid growing anxiety from within the Federal Government that soaring oil prices will trigger ...

Coconut oil prices seen rising to $700 this year
TMCnet - USA
(Manila Standard Via Thomson Dialog NewsEdge)The rising global demand for coconut oil is expected to further push prices to as much as $700 per metric ton ...

Oil Prices Slide for Third Straight Day
CBS News - USA
... Despite the recent declines, oil prices remain about a third higher than a year ago because of supply disruptions, geopolitical tensions and the scant surplus ...

Finance minister concerned with oil prices, interest hike and ...
TMCnet - USA
... situation would improve following His Majesty the Kings address last night, but conceded the economy would be dampened by surging oil prices, interest hike and ...

Uncertainties Keep Oil Prices At Record Levels
TMCnet - USA
(AllAfrica.com English Via Thomson Dialog NewsEdge)New York, Apr 26, 2006 (Vanguard/All Africa Global Media via COMTEX) --WORLD oil prices maintained record ...

ConocoPhillips, Amerada profits soar on oil prices
Reuters - USA
... 3 US oil company, on Wednesday reported quarterly profit surged 13 percent to well over $3 billion, driven by an unrelenting surge in oil prices. ...

Probe into petrol prices needed: NRMA
Sydney Morning Herald - Sydney,New South Wales,Australia
... "While crude oil prices have increased in recent times we have not seen anywhere bear the increase to justify these prices.". He ...

High oil prices increase interest in Illinois prospecting
Chicago Tribune - United States
So far this year, the Illinois Department of Natural Resources' regulatory oil and gas division has issued 245 oil-drilling permits. ...

Stocks stumble again on weak oil prices
Reuters Canada - Toronto,Ontario,Canada
... main index ended slightly lower on Wednesday, dropping for a third consecutive session as energy issues continued to sag amid weaker oil prices, but rising gold ...

Rig Notes 4/26/06

Precision Drilling Trust reports record first quarter results and ...
Yahoo! News (press release) - USA
... Upon completion of the expansion program in 2008, Precision will have increased its drilling rig fleet to 261, with 250 rigs operating in western Canada and 11 ...

SONG - SONGA OFFSHORE ASA Q1 REPORT
TV2 Nettavisen - Oslo,Oslo,Norway
... Songa Offshore entered into a memorandum of agreement for the purchase of the semi submersible drilling rig Stena Dee, to be renamed Songa Dee. ...

(PZ) Transmeridian Exploration Signs Contracts for Four Additional ...
Houston Chronicle - United States
... The completion rig is expected to arrive on location as early as May 7 and the first drilling rig in mid-May. The other two drilling ...

Gas Price News 4/26/06

Fuel prices have workers eyeing telecommuting
Reuters - USA
NEW YORK (Reuters) - With gas prices near all-time highs, telecommuting is becoming a win-win for companies and their staff -- leaving workers paying less for ...

High pump prices drive many to Web for deals
Reuters - USA
... gallon. "Because of the gas prices we're seeing our traffic pretty much double," said Jason Toews of GasBuddy.com. Rising gasoline ...

Parsing the Polls: The Politics of Gas Prices
Washington Post - United States
You can't swing a cat in Washington, DC, this week without hitting a politician talking about the rapid increase in gas prices and what should be done about it ...

Bush, Big Oil, Slammed On Pump Prices
CBS News - USA
... making more oil available for consumer needs and relieving pressure on pump prices — Democrats are blasting the administration's response to high gas prices. ...

Your e-mails: Fighting high gas prices
CNN - USA
... Only in Europe, where gas prices are more than triple, do they use public transit, have small economical vehicles, and make progress to other alternative ...

Is Kentucky Doing Enough To Control Gas Prices?
WKYT - Lexington,KY,USA
The attorney general's office is getting a lot of complaints about gas prices, drivers upset with what they're being charged. Prices seem to change every day. ...

Gas Prices Bust Consumer, Gov't Budgets
WBAL Channel.com - Baltimore,MD,USA
... representing a 50-percent increase. If gas prices go higher than that, Howard County will have to dip into its contingency account. ...

Make Gas Prices Go Higher--Please!
Forbes - USA
... With a gross domestic product growing at 7% a year for the last five years, people aren't really concerned with figuring out why gas prices are high--they're ...

Are High Gas Prices Hitting Your Business's Bottom Line?
ABC News - USA
April 25, 2006 — Skyrocketing gas prices have put a crimp in many consumers' wallets, and they've also had an impact on business expenses. ...

Gas Prices and the Bottom Line
FOX News - USA
... So, a great quarter for Martha Stewart Living, but what is the company doing to ensure these pumped-up gas prices don't cut into the bottom line? ...

Soaring gas prices fuel the Democrats
Chicago Tribune - United States
... said. "Hold an event at a gas station or other logical location where you call for a real commitment to bringing down gas prices.". ...

Refinery News 4/26/06

TAX BIG OIL?
Patriot-News - Harrisburg,PA,USA
... Rather, it is a direct result of already tight supplies, a changeover in the mix of reformulated gasoline, limited refinery capacity, rising worldwide demand ...

G7 pressures China over currency reforms
TMCnet - USA
... The G8 also urged "investment in exploration, production, energy infrastructure and refinery capacity". Describing this necessary ...

Relaxed rules to help local refiners
Corpus Christi Caller Times - Corpus Christi,TX,USA
... "They're having to clean out the tanks with MTBE in order to replace it with ethanol," Barnard said. "Refinery capacity is being stretched to the limit.". ...

Bush proposes ways to stem gas prices
Kansas City Star - MO,USA
... Moreover, the lack of any slack in refinery capacity means any serious problems such as refinery outages during hurricane season could cause prices to spike ...

Bush Calls for Gas Price Investigation, Lifts Clean Gas Rules
Environment News Service - USA
... Refinery capacity in the United States has dropped by some 50 percent in the past two decades and existing facilities are currently operating at close to 100 ...

Energy Business Dept's chief downplays concern on fuel shortage
TMCnet - USA
... General Panich Pongpirodom shrugged off a concern over possible shortage of fuel in the country, affirming that the overall refinery capacity this year still ...

Rig Notes 4/25/06

Abbot buys Nordic rig group for £247m
Scotsman - United Kingdom
... The cost of hiring a drilling rig is believed to have almost doubled in the past year on the back of rocketing global demand. Exploration ...

(BW) Arena Resources Inc. Provides First Quarter 2006 Operations ...
Houston Chronicle - United States
... The company is currently taking delivery of the drilling rig it purchased in December 2005, and expects it to be fully operational by early May. ...

Oil Price News 4/25/06

Oil Prices Slip on Bush Comments
FOX News - USA
... waivers will have a marginal impact, analysts said, given that the main force behind today's soaring pump prices is the near-record price of crude oil. ...

Oil falls as Bush takes aim at high energy prices
Reuters - USA
NEW YORK (Reuters) - Oil prices fell on Tuesday after President Bush took aim at surging energy costs by suspending crude deliveries to the emergency reserve ...

Nigeria: Oil Prices Hover Around $75 Per Barrel
AllAfrica.com - Washington,USA
WORLD oil prices eased yesterday on light profit-taking after blazing a trail last week to record high points which were hit on escalating concerns over the ...

Oil prices not helping cause of alternative fuels
CTV.ca - Canada
CALGARY -- Skyrocketing oil prices and global concerns about carbon-dioxide emissions doesn't appear to be helping the cause of alternative fuels a Calgary oil ...

Politics, oil prices causing stress
Bangkok Post - Thailand
Daily News Editorial _ The protracted political impasse and rising oil prices are affecting the mental health of Thai people. This ...

Bush unveils steps to counter high oil prices
Reuters - USA
WASHINGTON (Reuters) - President George W. Bush on Tuesday gave US refiners extra time to pay back emergency oil loans, and called on the government to find ...

Thai Oil Retailers To Raise Prices THB0.40/Liter Wed
Yahoo! News - USA
... gasoline and diesel products by THB0.40 a liter effective Wednesday. The hike will push local oil prices to fresh record highs. ...

UPDATE: CNOOC 1Q Rev Rises 45% On Oil Prices, Demand
Yahoo! News - USA
... producer by output, reported Tuesday its revenue for the three months ended March surged 45% from a year earlier, lifted by high crude oil prices and buoyant ...

Oil prices put Europe in skid
Chicago Tribune - United States
European stocks fell Monday on concern that record oil prices may restrain profit growth at companies such as DaimlerChrysler AG and British Airways PLC. ...

Renewed tensions boost oil prices
BBC News - UK
... OPEC), which meets over a third of world demand, promised to keep pumping oil at near maximum levels, but said it was powerless to pull down high prices.

High oil prices boost BP results
Monsters and Critics.com - Glasgow,UK
... High oil prices saw BP's exploration and production operations increase profits to $6.8bn, up from $6.5bn in the same period last year. ...

Gas Price News 4/25/06

On gas prices: You can't handle the truth
AZ Central.com - AZ,USA
... won’t help either. Higher demand at rivals will raise prices. And Exxon gas is available at no-name stations. In any event, gasoline ...

Consumers' tempers are rising with gas prices
Detroit Free Press - United States
... To tell your state legislators what you think about high gas prices, contact your state representative or senator by calling the state operator at 517-373-1837 ...

Defies expected downward pull of high gas prices
MarketWatch - USA
... Economists said that gas prices would eventually bring confidence lower. "We would not be surprised to see a moderation in consumer ...

Capitol Hill blame game on rising gas prices
Chicago Tribune - United States
If we could harness the energy from all the partisan sniping over gas prices on Capitol Hill, we wouldn’t make a dent in the nation’s energy woes but at ...

Menendez proposes gas tax 'holiday' to lower pump prices
Bridgewater Courier News - NJ, United States
By RAJU CHEBIUM. WASHINGTON (GNS) -- A New Jersey senator has an idea for reducing sky-high gas prices: temporarily stop collecting the federal gas tax. ...

Bush to outline four-point plan to slash gas prices
CNN - USA
... (Watch why some pumps shut down as prices go up -- 2:51). "The president will talk about why gas prices are high," McClellan said. ...

As Gas Prices Fluctuate, Sales for New Vehicles Equipped with an
Auto Spectator - USA
WESTLAKE VILLAGE, Calif.: 24 April 2006 — Despite the perception of rising gas prices, US consumers are still buying about the same proportion of new ...

President Calls For Investigation Into Gas Prices
NBC6.net - Miami,FL,USA
MIAMI -- As gas prices continue to rise, consumer anger goes up as well, and much of it is directed at the major oil companies. ...

Oil, Gas Prices Drop on Bush Supply Move
ABC News - USA
Gas prices are listed at a Get-Go station Tuesday, April 25, 2006 in Columbus, Ohio. President Bush ordered a temporary suspension ...

Bush proposes relief for gas prices But Democrats say steps are ...
San Francisco Chronicle - CA, USA
(04-25) 14:09 PDT WASHINGTON -- President Bush, under political pressure from consumers angered by soaring gas prices and Republicans worried about the ...

Gas Prices Catastrophic - Democrats Worry About The People ...
News Hounds - Newport Beach,CA,USA
Did they say they were worried about the American people trying to survive these high gas prices? No, they have the elections on their mind. ...

Refinery News 4/25/06

Reliance Petroleum prices IPO at mid-range despite colossal demand
FinanceAsia - Hong Kong
... “And because it will be completed in just three years, it will start production at a time when there will still be a global shortage of refinery capacity.”. ...

Bush orders agencies to investigate US gasoline prices
Oil & Gas Journal - Houston,TX,USA
... as ExxonMobil Corp.'s chief executive, Barton added, "It troubles me that a CEO receives a $400 million retirement package while refinery capacity continues to ...

Petrochina and Kuwait to build refinery in Pearl River Delta
Macauhub - Macau,China
... The refinery planned by Kuwait will have the capacity to process 400,000 barrels of oil pr day, the Kuwait News Agency reported in December, citing al-Sabah. ...

Pump prices stuck on 'up'
San Diego Union Tribune - United States
... measure, Joe Sparano, president of the Western States Petroleum Association, blamed pump prices on taxes, business costs, limited refinery capacity and the ...

Energy Business Dept's chief downplays concern on fuel shortage
Thai News Agency MCOT - Bangkok,Thailand
... General Panich Pongpirodom on Monday shrugged off a concern over possible shortage of fuel in the country, affirming the overall refinery capacity this year ...

Oil Price News 4/24/06

Boiling oil prices will crank up inflation by 1 per cent
Daily News & Analysis - Mumbai,India
Oil marketing companies, staggering under the impact of gravity-defying global oil prices, are seeking an increase of Rs 5.6 a litre in the price of petrol and ...

Oil prices reasonable considering current world events: energy ...
CBC News - Canada
CALGARY (CP) - You'll likely hear howls of protests from consumers, but current record oil prices is a new reality, delegates at a Calgary energy conference ...

FTSE dips as financials struggle and oil prices slip off early ...
Scotsman - United Kingdom
... Oil-rig builder Abbot jumped 5.3 per cent, or 17p, to 340p after it said that it ... gave up much of their early push to record peaks as metals prices traded off ...

Bank report shows domestic oil prices keep rising in March
People's Daily Online - Beijing,China
A People's Bank of China report on Monday showed wholesale prices of processed oil climbed 2.6 percent in March from the previous month and 24.1 percent from ...

Why we should love high oil prices
Telegraph.co.uk - United Kingdom
... why the price is just as likely to fall back in the medium term, and it is worth rehearsing the reasons why a period of relatively high oil prices has not been ...

CANADIAN MARKETS Fall in crude-oil prices hits benchmark index
MarketWatch - USA
SAN FRANCISCO (MarketWatch) -- Stocks in Canada closed lower on Monday, led by weakness in the energy sector as crude-oil prices fell more than 2%. ...

Soaring oil prices a major concern to world
Xinhua - China
WASHINGTON, April 24 (Xinhua) -- Nymex crude oil prices fall below 74 US dollars a barrel on Monday in profit taking after surging to a record high of more ...

Rising oil prices lift Shell Canada profits
Toronto Star - Ontario, Canada
... "Strong commodity prices and refining margins contributed to ... The oil products division achieved record earnings of $154 million, up from $123 million in 2005. ...

Oil prices retreat below 74 dollars after hitting record highs
Xinhua - China
NEW YORK, April 24 (Xinhua) -- World crude oil prices, amid profit-taking and worries of supply in Iran and Nigeria, retreated Monday after hitting record highs ...

Treasuries Rise on Speculation High Oil Prices May Slow Economy
Bloomberg - USA
April 24 (Bloomberg) -- US Treasuries rose, pushing the benchmark 10-year note's yield below 5 percent, amid speculation that record oil prices will restrain ...

All thing considered, oil prices are reasonable: expert
Globe and Mail - Canada
CALGARY — You'll likely hear howls of protests from consumers, but current record oil prices is a new reality, delegates at a Calgary energy conference heard ...

OPEC in the News 4/24/06

Oil falls on OPEC comments
Resource Investor - Herndon,VA,USA
Oil fell sharply on Monday after OPEC promised to keep pumping near maximum capacity but losses were limited as the cartel conceded that it was powerless to ...

5-Oil falls sharply, OPEC keeps output steady
Ninemsn - Sydney,New South Wales,Australia
LONDON, April 24 (Reuters) - Oil fell sharply on Monday after OPEC promised to keep pumping near maximum capacity but losses were limited as the cartel ...

Oil Prices Fall on OPEC Comments
AXcess News - Carson City,NV,USA
By Alan Fein. (AXcess News) New York - Crude oil for June delivery fell Monday following comments by OPEC members attending the 10th annual International Energy ...

Crude Oil Falls a Second Day After OPEC Says Supply Is Adequate
Bloomberg - USA
April 25 (Bloomberg) -- Oil fell for a second day after OPEC, whose members produce 40 percent of the world's crude, said it was providing adequate supplies. ...

OPEC POWERLESS TO DEFUSE OIL PRICES
Free Market News Network - Pompano Beach,FL,USA
OPEC has said it will not change its crude production levels, despite prices at record levels, after informal talks during an energy summit in Doha. ...

Corrected: OPEC says oil supplies not the problem
Reuters - USA
Mohammad Alipour-Jedi, head of the Petroleum Analysis Department of the OPEC Secretariat... instead of ...OPEC official Adnan Shihab-Eldin. . By Tim Ahmann. ...

OPEC says powerless to drive down $75 oil
Daily Times - Lahore,Pakistan
DOHA: OPEC ministers conceded on Monday there was nothing they could do to halt surging oil prices that threaten consumer nations’ economies and could ...

Dow Retreats From Metal and Oil
Washington Post - United States
... consumers are demanding. "We are giving them all they ask for and what they can process," said an OPEC official. "What they can ...

Crude on the boil; OPEC to hold informal talks today
Moneycontrol.com - Mumbai,India
The Organisation of Petroleum Exporting Countries or OPEC will hold informal talks today on the sidelines of the Doha Conference. ...

OPEC to keep output unchanged - Venezuela
Forbes - USA
DOHA (AFX) - OPEC will not change its crude production levels, the Venezuelan oil minister said after a meeting in Doha to discuss record prices. ...

Refinery News 4/24/06

OMI Corporation Reports 2006 First Quarter Results
Business Wire (press release) - San Francisco,CA,USA
... Hurricane activity in the fall of 2005 resulted in shutdowns of most of the US crude oil production and refinery capacity in the Gulf of Mexico. ...

Politicians urge aggressive work on energy alternatives
Oil & Gas Journal - Houston,TX,USA
... escalating price of crude oil. Another reason why is we haven't had any refinery capacity in the United States in a long period of time.". ...

Nigeria: OPEC Countries in $58 Billion Refinery Expansion Plan
AllAfrica.com - Washington,USA
... committing a total of $58 billion to various refinery projects over the next six years in a twin-objective of boosting global refining capacity and ensuring ...

Spitzer blames President Bush for rising gas prices
Newsday - Long Island,NY,USA
... The American Petroleum Institute maintains that refinery capacity is still low from hurricanes Katrina and Rita last summer. It ...

Refinery News 4/20/06

World energy talks seek to bring down oil prices
INQ7.net - Philippines
... A global shortage of refinery capacity for transport fuels that must meet tighter environmental regulations and lower supply from Nigeria, Iraq and Venezuela ...

Reliance Petroleum IPO Oversubscribed, Gets Bids Worth $30 Bln
Bloomberg - USA
... Reliance's new refinery will be ready in time to benefit from higher earnings from processing of oil into fuels, given the shortage of refining capacity. ...

Gas prices soar - again
Sacramento Bee - CA, USA
... Yet while there's oil available, the nation lacks the refinery capacity to turn it into gasoline, analysts said. Gas inventories ...

Indian refiners process 9.4 pct more crude in March
NDTV.com - New Delhi,India
... 19.4 million tonnes. Exports are expected to rise in June, when IOC hopes to double its Panipat refinery capacity to 240,000 bpd.

OPEC in the News 4/20/06

Easy does it with petrol prices
The Age - Melbourne,Victoria,Australia
... OPEC (the Organisation of Petroleum Exporting Countries) is already producing at maximum output," said Abdullah al-Attiyah, Qatar's Oil Minister. ...

Opec’s April market report
MercoPress - Montevideo,Uruguay
... the world economy continues to experience strong growth, despite disappointing GDP growth in the final quarter of last year, according to the OPEC Monthly Oil ...

Gas pains
NorthJersey.com - Hackensack,NJ,USA
... It's easy to point fingers at OPEC or the American oil companies for taking financial advantage of a tight gasoline supply, especially when the Exxon Mobil CEO ...

DJ Iran Oil Min: OPEC Is Pumping Crude To Its Capacity -2-
TMCnet - USA
... However, he conceded that OPEC doesn't favor unusually high prices "because on the one hand they raise production costs and on the other hand they raise ...

Iran opposed to OPEC production hike
IranMania News - Iran
... April 20 (IranMania) - Iran's Oil Minister Kazem Vaziri-Hamaneh said Thursday the Islamic republic was opposed to any change in OPEC's production ceiling ...

Crude tops $73 a barrel as Iran dispute threatens to hit world ...
ic Birmingham.co.uk - Birmingham,UK
... OPEC ministers will consult informally next week on the sidelines of an energy forum in Qatar. But several of them have already ...

Oil prices hit record high of $72.49
EiTB - Euskadi,Spain
Traders are anxious that US-led efforts to stop Iran, OPEC's second-largest member, from pursuing a suspected nuclear weapons program could lead to a ...

Some callers ready to stage a gas revolt
Port Huron Times Herald - Port Huron,MI,USA
... up. That is unless, we, as consumers, let the oil companies know buyers control the market place, not OPEC or any oil company. They ...

Mass gas boycotts will not prevent high prices
Western Herald - Kalamazoo,MI,USA
... reason why the proposed gas boycott will never work is because it doesn’t factor in the fact oil prices are more controlled by how much OPEC supplies, not ...

Rig Notes 4/20/06

Nova Scotia CBM Operations Update
Canada NewsWire (press release) - Canada
Trading Symbol: SLV.tsxventure CALGARY, April 20 /CNW/ - Stealth Ventures Ltd. (Stealth) is pleased to announce that it has contracted a drilling rig and a ...

McMoRan Exploration Co. Reports First-Quarter 2006 Results and ...
Business Wire (press release) - San Francisco,CA,USA
... As previously reported, drilling activities were temporarily suspended in February 2006 while the drilling rig was used to perform workover activities on the ...

Mars TLP restart imminent
Oil & Gas Journal - Houston,TX,USA
... The Mars TLP and wells survived the extreme Katrina weather conditions, but the platform drilling rig and some major elements of the topsides production ...

Shell Nears Restart of Storm-Damaged Rig
MSN Money - USA
... While the Mars wells weathered the category-five storm, the platform drilling rig and other major components were heavily damaged. ...

Gas Price News 4/20/06

Gas Prices Going Up, Up, Up
WLNS - Lansing,MI,USA
Seeing those high prices out west is already making some local drivers leery of those rising gas prices. The cost of oil has hit a record high. ...

Get used to higher gas prices, PM says
Globe and Mail - Canada
... "I think that the truth of the matter is that higher gas prices -- that's going to be something that we're going to have to get used to," Mr. Harper told ...

Acceleration at the Pump: Gas Prices Near $3.00
WQOW - Eau Claire,WI,USA
... pump. Gas prices are up $0.40 in a month. Last week, energy analysts predicted that gas prices would hit $3.00 this summer. The ...

Russia’s Gazprom to Press for Higher Gas Prices for Ukraine
MOSNEWS - Russia
... In 2005 Russia’s Gazprom said it would raise gas prices for Ukraine to market levels and even briefly cut off supplies, as the Ukrainian side refused to ...

Rising prices make energy costs potent political issue
Boston Globe - United States
... for Congress and the Bush Administration to give this industry another unneeded handout at a time when Vermonters face budget-crippling gas prices and oil ...

High Gas Prices, Fixed Rates Affect Cab Drivers
KFOXtv.com - El Paso,TX,USA
"The trouble is with the gas prices," said taxi driver Pedro Gutierrez. ... That was three years ago, when gas prices were about $1.65 for unleaded. ...

No relief in sight for rising gas prices
KPHO Phoenix - Phoenix,AZ,USA
... come. State gas prices have jumped 20 percent in the last six weeks with the busy summer driving season just over a month away. The ...

Democrats Eager to Exploit Anger Over Gas Prices
New York Times - United States
... to Democratic candidates include holding a campaign event at a gas station "where you call for a real commitment to bringing down gas prices and pledge that ...

Gas Prices Could Burn Holes In Wallets
NBC5.com - Chicago,IL,USA
CHICAGO -- While gas prices may be high, analysts said prices will go even higher this summer. NBC5's Rob Elgas reported that the ...

Gas Prices May Not Be So High
Boston Channel.com - MA, USA
... As spring fever rejuvenates the Northeast, many New Englanders complain that their excitement for summer has been diminished by recent jumps in gas prices. ...

Oil Price News 4/21/06

Petrol prices, interest rates set to soar over oil fears
Irish Examiner - Cork,Ireland
... The pressure is coming from record oil prices, which rose to $72.49 yesterday. The price of oil per barrel has shot up by 38% in ...

Oil prices help Complete Production IPO to $24/shr
Reuters - USA
... The Complete Production IPO comes during a week of record-high oil prices and against a backdrop of concern about a standoff between the West and Iran, the ...

As oil prices reach new high, consumers face new reality
USA Today - USA
... High gasoline prices aren't going to blow over like summer storms. If traders can bid up the price of oil so easily, then the best thing consumers can do is ...

Petrol prices set to jump as global crude oil surges again
Irish Examiner - Cork,Ireland
By Jim Morahan. IRISH petrol prices are expected to rise above €1.20 a litre today in the wake of yesterday’s record global crude oil prices. ...

High crude oil prices could be here to stay
MSNBC - USA
Traders work in the crude oil futures pit of the New York Mercantile Exchange this week as oil prices hit a record high. By John W. Schoen. ...

Emerging debt-Mixed on high US yields, oil prices
Reuters - USA
NEW YORK, April 20 (Reuters) - Emerging sovereign bond prices were mixed on Thursday amid high volume as persistently strong oil prices counterbalanced higher ...

Oil prices retreat after hitting record highs
Xinhua - China
NEW YORK, April 20 (Xinhua) -- World crude oil prices retreated Thursday as traders took profit, after hitting record highs amid worries of supply in Iran and ...

Canadian Stocks Fall With Gold, Oil Prices; Barrick Drops
Bloomberg - USA
... Oil touched $72.49 a barrel, a record intraday price ... Consumer prices rose 2.2 percent in March, led by rising costs for gasoline and housing, Statistics Canada ...

IMF chief warns high oil prices set to stay
Forbes - USA
WASHINGTON (AFX) - IMF chief Rodrigo Rato warned that record oil prices are here to stay and appealed for collective action to rectify widening imbalances in ...

Dow ends at 6-year high as oil prices retreat
People's Daily Online - Beijing,China
... Thursday and the Dow Jones industrial average ended with the highest since 2000 on strong earning of giant companies, as world crude oil prices retreated below ...

Venezuela blames US for high oil prices
BusinessWeek - USA
... Islamic republic. Oil prices fell slightly Thursday after reaching a record high above $72 a barrel. "It could reach $100 ... It ...

Gas Price News 4/19/06

Gas prices a threat to GM turnaround?
Autoblog - Santa Monica,CA,USA
The new GMT900 siblings may be fine vehicles, but gas prices are back up and consumers are starting to feel the pinch again. ... gas prices hit $3.00 per gal. ...

Drivers curb use as gas prices go up
AZ Central.com - AZ,USA
Gas use last month was 0.6 percent less than a year ago, the American Petroleum Institute reported, because "high fuel prices have led to decreased demand for ...

Gas prices won't stop drivers
London Free Press - Canada
Soaring gas prices will not be painful enough to cut into demand this summer, says an analyst at the Richard Ivey School of Business. ...

Consumer prices up, led by higher gas prices
Miami Herald - FL,USA
... Energy prices in the Miami-Fort Lauderdale area jumped more than 21 percent in March ... includes the price of motor fuels as well as natural gas and electricity ...

Surging gas prices become political issue
KARE - Minneapolis,MN,USA
"We think gas prices are going to continue to increase for the next 30-40 days," said Sara Weis, of the American Automobile Association (AAA). ...

Get used to higher gas prices, Harper says
Globe and Mail - Canada
... prices. At one time, the Conservatives had said they would stop charging GST on the portion of gas prices above 85 cents. However ...

CNN.com readers on rising pump prices
CNN International - USA
CNN.com asked for readers' opinions on how rising gas prices affect their daily routines, what a gallon of gas costs in their area and how concerned they are ...

Gas Prices Continue Upward Surge
Boston Channel.com - MA, USA
NORWOOD, Mass. -- With gas prices inching closer to $3 a gallon, drivers are left trying to find the best deals at the pump. NewsCenter ...

Higher gas pump prices boost transit ridership
CBC.ca - Alberta, Canada
17 per cent of transit riders surveyed say higher gas prices forced them out of their cars. (CBC). TransLink reports ridership is at a record high. ...

Ethanol rapped for higher gas prices in the East
Rock River Times - Rockford,IL,USA
... of Energy may be underestimating what the impact will be at the gas pump.”. ... The Energy Department blames the higher prices on three factors—rising oil prices ...

Gas Prices Hitting People On Fixed Incomes Hard
WOWK - Huntington,WV,USA
The rising gas prices are hitting most people's wallets hardm, but for those on a fixed, paying $30 to $40 to fill up their tanks can be especially difficult. ...

Refinery News 4/19/06

Clinton Calls on Dubya to End Price Gouging
LongIslandPress.com - NY,USA
... Schumer, also of New York, asked the Federal Trade Commission (FTC) to investigate whether oil companies are intentionally keeping refinery capacity tight in ...

NYMEX oil ends near peak $72 on supply draw, Iran worries
Reuters - USA
... said US crude stocks fell 800,000 barrels to 345.2 million barrels last week as refinery runs increased 0.6 percentage point at 86.2 percent of capacity. ...

Oil prices soar; politicians worry
Allentown Morning Call - Allentown,PA,USA
... greater scrutiny of the oil industry, suggesting that companies might be intentionally driving up the prices at the pump by underutilizing refinery capacity. ...

Pertamina Targets Higher Avg Oil Refinery Capacity By '10
Yahoo! News - USA
... crude oil supplies from the Middle East for the expanded refinery production, Sumarno ... Dumai, Balikpapan and Plaju refineries have output capacity of 170,00 b/d ...

OPEC in the News 4/19/06

Iran opposes OPEC production rise: ministry
IranMania News - Iran
LONDON, April 19 (IranMania) - Iran is against an increase in OPEC production, an official was quoted as saying, arguing that the cartel did not have the ...

OPEC Fund’s $9m Loan To Upgrade Road In Niger
Nigeria Daily Independent - Ikeja,Lagos,Nigeria
The Organisation of Petroleum Exporting Countries (OPEC) Fund for International Development has signed a $9 million loan agreement with the Republic of Niger ...

OPEC should set aside cheaper oil for poor nations: President
Tehran Times - Iran
... He also maintained that the crude’s global price must be based on both market’s dynamics plus supply and demand forces. “OPEC members could set aside ...

OPEC should set aside cheaper oil for poor: Iran
IranMania News - Iran
LONDON, April 20 (IranMania) - Iran's hardline President Mahmoud Ahmadinejad has called on oil producers, in particular fellow OPEC members, to sell a part of ...

Oil revenues allow Hugo Chavez to reject US criticism of his ...
VHeadline.com - Worth,IL,USA
... in Europe this year. Oil producers' group OPEC says demand is up a million barrels a day over the past year ... a little more than ...

Iran says OPEC should set aside cheaper oil for poor
Lanka Business Online - Sri Lanka
TEHRAN, Iran, Apr.19 (AFP) - Iran's President Mahmoud Ahmadinejad has called on oil producers, in particular fellow OPEC members, to sell a part of their crude ...

Higher energy prices could curb global growth - Opec
Business Day - Johannesburg,South Africa
LONDON - Opec today warned that higher energy prices could curb global growth and trimmed its oil demand growth forecast, while crude prices hit a record high ...

Gas Price News 4/18/06

Bush 'concerned' about gas prices
MarketWatch - USA
WASHINGTON (MarketWatch) -- President Bush said he's worried about rising gasoline prices, and that the administration will be on the lookout for any signs of ...

Gas Prices Push Up Wholesale Inflation
Forbes - USA
... The cost of natural gas for home use fell by 0.5 percent while home heating oil prices were down 3.6 percent and residential electric power prices dropped by ...

Govt sounds alarm on rising gas prices
Manila Standard Today - Philippines
... We are hoping that prices would at least stabilize at $83 to $84 per barrel. ... and private vehicle owners to convert their car engines to become auto-gas capable ...

Gas prices pinch drivers
Elizabethtown Bladen Journal - Elizabethtown,NC,USA
Bladen County drivers are feeling a little less jingle in their pockets due to skyrocketing gas prices. Unfortunately, no relief is in sight. ...

High Gas Prices May Not Deter Motorists
FOX News - USA
NEW YORK — US motorists may be fuming at the prospect of another summer of record gasoline prices, but analysts say there's plenty of room for more hikes ...

Oil Prices Sharply Higher - American Consumers Looking for ...
Voice of America - USA
... we would take a road trip or not to the Texas coast. And if gas prices reach three dollars a gallon, we probably won't do that.". ...

Signs not good for summer gas prices
Bizjournals.com - Charlotte,NC,USA
Motorists could be in for a fourth consecutive summer of record high gas prices, AAA Mid-Atlantic said. The average price of gas ...

Gas Prices
WNCT - Greenville,NC,USA
Gas prices are at the highest they've ever been in advance of the peak summer driving season. Prices jumped a dime last week. That's ...

Gas pains: pump prices rise again
CBC Prince Edward Island - Charlottetown,Prince Edward Island,Canada
... In the latest survey, gas prices range from a low of 93.4 cents a litre in Lethbridge, Alta., to a high of just over $1.24 a litre in Labrador City. ...

Gas Prices Won't Go Down
Motley Fool - USA
By Robert Aronen. The Bush administration is telling consumers to brace for gas prices averaging $2.62 a gallon this summer. Consumers ...

Uncle Sam's hand in high gas prices?
CNN - USA
... gasoline futures to their highest level in over six months and prices at the ... the pipeline terminus, where it's then blended with gasoline as the gas is loaded ...

Oil Price News 4/18/06

Europe RoundupEquities fall after oil prices surge
Business Times - Malaysia - Malaysia
LONDON: European stock markets mostly dropped yesterday after crude oil prices struck new historic highs in London and New York. ...

Oil prices settle at record above $71 a barrel
Boston Herald - United States
WASHINGTON - Oil prices settled at a new high above $71 a barrel Tuesday as supply threats around the world overshadowed a new report from OPEC forecasting ...

Oil prices settle above $71 a barrel
BusinessWeek - USA
18 3:38 PM ET Oil prices settled at a new high above $71 a barrel Tuesday as supply threats around the world overshadowed a new report from OPEC forecasting ...

FTC should probe Big Oil on gasoline prices: senator
Reuters - USA
... US oil prices traded at an all-time high near $71 a barrel on Tuesday due to concerns over supplies from OPEC members Iran and Nigeria, pushing up gasoline ...

Firms tackling rising oil prices
The Daily Yomiuri - Osaka,Japan
... To cope with the upside pressure on crude oil prices, industrial materials makers have been inclined to raise their respective shipment prices. ...

Inflation may rise on soaring metal, oil prices
Economic Times - India
... the RBI has also warned about possible increases in inflationary pressures in FY07, which could arise from a greater pass-through of higher oil prices. ...

Oil prices soar amid Iran standoff threat
Stuff.co.nz - Wellington,New Zealand
... Oil prices have soared more than $10, or 16 per cent, in the past four weeks, buoyed by a fresh infusion of fund investment amid mounting concern about Iran's ...

Oil Prices Set New Record, Topping $71 a Barrel
NPR - USA
All Things Considered, April 18, 2006 · Prices for crude oil hit record highs of over $70 a barrel. At the end of trading, oil settled at $71.60 a barrel. ...

Toronto stocks jump as oil, metal prices surge
Reuters Canada - Toronto,Ontario,Canada
TORONTO (Reuters) - The Toronto Stock Exchange's main index leaped 138 points on Tuesday, reaching a new high as record metal and crude oil prices boosted the ...

Oil prices could put consumers over a barrel
MSNBC - USA
NEW YORK - This week's surge in oil prices to record highs could hurt the economy more than other increases in recent years because consumers no longer have ...

High oil prices curbing growth, warns Opec
Financial Times - London,England,UK
The Organisation of Petroleum Exporting Countries on Tuesday warned that high oil prices were slowing economic growth just as one of its most vocal members ...

Refinery News 4/17/06

Oil’s not well
Financial Express - Bombay,India
... into the refinery business needs to be assessed in the backdrop of the strong likelihood that the prevailing shortfall in global refinery capacity will be made ...

KS Oils net up 276%
Business Standard - India
... KS Oils is also expanding its refinery capacity and is under active negotiation for acquisition of new plants in Rajasthan, the release added.

Help wanted: A new hammer on the hill (and an agenda)
renewamerica.us - Washington,D.C.,USA
... reform, lawsuit abuse reduction, repeal of the Death tax, stealth (alternative minimum) tax exemption for individuals, increasing refinery capacity, and (most ...

Capacity report by Qatargas within year
Gulf Times - Doha,Qatar
DOHA: Qatargas would submit a report to Qatar Petroleum (QP) within a year on expanding capacity of the $800mn Laffan Refinery (LR), whose foundation stone was ...

OPEC in the News 4/17/06

No OPEC output cut in 06 if demand holds - officials
Reuters South Africa - Johannesburg,South Africa
DOHA/DUBAI (Reuters) - OPEC is pumping nearly flat out to tame oil prices, which the cartel believes are too high, and there are enough crude stocks and spare ...

3 options left for tax filers
Charlotte Observer - Charlotte,NC,USA
Are you sleepy, unable to think clearly, experiencing heartburn, cramps, diarrhea, stomach ulceration, exporting gas like an OPEC nation short on cash -- you ...

Oil numbers counter very large lies peddled by the Venezuela ...
VHeadline.com - Worth,IL,USA
... given by people who challenge the government numbers was that international organizations such as the International Energy Agency and OPEC supposedly pegged ...

Rig Notes 4/17/06

Transocean wins two year Indian rig contract
Reuters India - Mumbai,India
NEW YORK (Reuters) - Drilling rig operator Transocean Inc. on Monday said it was awarded a two-year rig contract by Reliance Industries Ltd. ...

Tri-Valley Update on Project and Share Value
Market Wire (press release) - USA
... the required capital, through its newly formed subsidiary, Great Valley Drilling Company LLC, to exercise its option to purchase the only drilling rig based in ...

First Nation Training Breakthrough
Nickle's Energy Group - Calgary,Canada
... Elson McDougald, Western Lakota's chairman and president, acknowledges that aboriginal training was not on his mind when the firm's first drilling rig went to ...

China's first drilling rig for 9000-meter wells to go operation ...
Xinhua - China
The China-made drilling rig, which contains numerous patented parts, breaks the country's dependency on foreign rigs that can drill 9,000 meters and will ...

Gas Price News 4/17/06

Husky's 1st-Qtr Net Rises 36% on Oil Output, Prices (Update2)
Bloomberg - USA
... ``White Rose was a star and provided significant contributions in a quarter when natural gas prices dramatically disappointed due to the warm winter.''. ...

Gas Prices Expected To Keep Going Up
Washington Post - United States
Last September, after Hurricane Katrina, Washington area gasoline prices rose to more than $3 a gallon. ... 6, 2005. Prices could get worse. ...

Gas Prices 50 Cents Higher This Year
KDKA - Pittsburg,PA,USA
... you're driving all the way over there.”. Overall gas prices have jumped more than 20 cents a gallon since the beginning of April.

Gas Prices Too High? Consider a Move
ABC News - USA
... Internet joke site Jibjab.com is now allowing individuals to post their own cartoons on the site, and gas prices have been among the first topics to be ...

10 Ways to Beat High Gas Prices
ABC News - USA
... April 17, 2006 — Gas prices are higher than a Texas oil gusher, and the summer driving season — when prices typically skyrocket — isn't even here yet. ...

Gas Prices Up 10 Cents to $2.78 a Gallon
Houston Chronicle - United States
... Pump prices are 54.6 cents higher than a year ago. Average retail gasoline prices peaked at $3.07 a gallon last September, reflecting ...

No Quick Fix to Solve Soaring Gas Prices
ABC News - USA
April 17, 2006 — With the average price of a gallon of regular gas soaring to $2.68, drivers are looking for any way to cut down on costs at the pump. ...

Rising Gas Prices: How to Fight Back
Rutherford Institute - Charlottesville,VA,USA
... And some prognosticators are warning that by next summer, they could reach $4.00 a gallon. But rising gas prices affect us in many other ways. ...

Gas prices climb a dime in a week
WOI - West Des Moines,IA,USA
... Gas price averages peaked at three dollars and seven cents a gallon last September ... Last week's average falls short of that, but the prices probably aren't ...

Gas prices jump 10 cents overnight in Toronto
CTV.ca - Canada
Gas prices jumped 10 cents overnight and that's causing a stir as drivers now face up to 105 cents per litre. ... gas prices averaged only 93.8. ...

Oil Price News 4/12/06

German shares sharply lower midday on oil price jump and as ZEW ...
Forbes - USA
FRANKFURT (AFX) - Shares were sharply lower in midday trade as oil prices raced towards the 70 usd a barrel level, following a mixed session on Wall Street ...

Oil prices and housing warning sends ISEQ tumbling
Ireland Online - Dublin,Ireland
The Irish stock exchange started the day off in negative territory this morning after oil prices rose again and the Central Bank warned of a slump in the ...

Oil prices to climb even higher: US Energy Dept
ABC Online - Australia
... MICHAEL ROWLAND: The forecast has been released as world oil prices continue to hover just below the $US 70 a barrel mark. Fuelling ...

German shares close down on record oil prices, no lift from Wall ...
Forbes - USA
FRANKFURT (AFX) - German shares closed lower as record high oil prices continued to weigh on stocks, with a majority of European exchanges turning south, and ...

Oil prices stillnear record as demand holds steady
Euronews.net - Lyon,France
Crude oil prices remain near record levels as tension mounts over Iran's nuclear programme and supply concerns in Nigeria and Iraq continue. ...

Oil prices likely to surge to new record highs
Reuters - USA
LONDON (Reuters) - An influx of fresh fund buying and geopolitical worries will most likely push oil prices to new record highs soon, analysts said on Tuesday ...

Petrol prices to rise as Iran crisis hits oil markets
Guardian Unlimited - UK
... of dearer petrol over the Easter weekend as concerns over Iran's nuclear programme, looming supply shortages and strong demand left oil prices poised to push ...

High oil prices crimp consumption: IEA
Business Times - Malaysia - Malaysia
... of Petroleum Exporting Countries (Opec) to the limit, production in some countries remains at risk from political tensions and high oil prices are now crimping ...

High oil prices drag down growth in euro countries
International Herald Tribune - France
DUBLIN The European Commission on Wednesday cut its forecast for economic growth in the dozen nations using the euro as rising oil prices and interest rates ...

US stocks rally as oil prices fall
People's Daily Online - Beijing,China
World crude oil prices fell Wednesday but still hovered above 68 dollars, as traders took profits on the weekly data that US crude oil reserves increased to ...

Gas Price News 4/12/06

Soaring gas prices hit everyone
WOOD-TV - Grand Rapids,MI,USA
(April 12, 2006, 6:05 pm) -- Gas prices continue to climb in West Michigan, and the higher prices are having an impact everyone, including airlines, motorcycle ...

'Stormy' 6 Weeks Ahead For Gas Prices
CBS News - USA
(CBS) Expect a "very, very stormy" month to month-and-a-half for gas prices, with the pain at the pump nearing $3 a gallon on average and not backing off much ...

AAA: Gas prices surge as demand, oil price and global tensions ...
Bizjournals.com - Charlotte,NC,USA
AAA on Tuesday confirmed what most Central Florida motorists already knew: Gas prices are nearly 40 cents higher than one year ago today, with self-serve ...

Gas Prices
WILX-TV - Lansing,MI,USA
Oil industry officials blame the recent spike in gasoline prices on a number of factors ... online, but when that happens, you could see a dip in the price of gas. ...

(PRN) - AAA Reports Gas Prices Rising as Demand, Oil Prices and ...
Bolsamania.com - Madrid,Madrid,Spain
(PRN) - AAA Reports Gas Prices Up Due to Higher Demand, Oil Prices and Global Tensions ... [+. PRN) - West Brookfield Man Indicted ...

Gas Prices Expected To Climb During Summer Months
WJZ - Baltimore,MD,USA
... Surveys indicate drivers won't be easing off on their mileage, using even more gas than a year ago. ... But prices around the country already are above that. ...

UPDATE 1-EU CO2 emission prices hit new record high
Reuters - USA
... High oil prices will trigger gains in European gas prices, encouraging power producers to burn more coal and increasing their demand for CO2 quotas as coal is ...

High Gas Prices Threaten New Bus System
State Journal - Charleston,WV,USA
Gas prices are soaring across West Virginia and public transportation systems are feeling the pinch too. Those high prices have ...

Area gas prices as high as $2.90
Louisville Courier-Journal - Louisville,KY,USA
While the federal government says gasoline prices should average about 25 cents more this year than last summer, that would be a relief for Louisville-area ...