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Exxon to increase its crude output by spending $100 million a day

Exxon Mobile Corp. declared that they plan to spend $100 million each day for the next five years on capital projects like new oil wells and natural gas plants.

read more... 14/03/2011

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Japan disaster leads to falling oil prices

Crude oil prices felt following Japan’s strongest earthquake record, shaking whole oil markets and raising concerns about weakening world demand.

read more... 14/03/2011

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Oil prices grow as Libyan oil output decreases

The oil prices jumped yesterday by 0.5% to $117 after forces loyal to Libyan leader Muammar Gaddafi bombed oil industry infrastructure, causing long term damages on the Libyan oil export.

read more... 11/03/2011

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Shell is concerned about pipelines vandalism in the Niger Delta region

Shell Petroleum Development Company is very concerned about vandalism attacks at its pipelines in the Niger Delta region. The company officials declared that 22 spills of pipeline occurred between January and February this year.

read more... 10/03/2011

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Libyan trade affected by U.S. sanctions

Recent events in Libya have led the United States and other countries to impose sanctions on Libya. Due to these sanctions, a number of U.S. oil trading companies have pulled back from trading crude and refined products in and out of Libya and some large banks have withdrawn their funds.

read more... 10/03/2011

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