Latest news
Oil price fell
Both, the strengthening of U.S. dollar and large U.S. crude and fuel stocks, have influenced the oil price on Tuesday which fell below $86 per barrel, after reaching $87.15 per barrel on Monday, the highest level for the last 19 months, when the price for oil crude reached $89.82, in October 9, 2008.
read more... 04/05/2010
Effects after the drop in oil prices
Oil spill out the early gains just to maintain the level of $86 per barrel on Monday, since Euro zone fiscal matters are in force again, while China’s attempts to calm down its economic upsurge, are accompanied by a short- term uncertainty.
read more... 03/05/2010
Gasoline price unstable
Crude oil cracking margins decreased to $8 per barrel, being influenced by the gains registered as result of gasoline sale, which prices jumped back above $ 800 per ton.
read more... 30/04/2010
Romania wants to reduce its participation in Petrom
OMV, Austrian major oil and gas group, does not intend to increase its share in its Petrom division, even though the Romanian government would like to vend a part of its 21% stake in order to reduce its participation to 8%, according to OMV’s representative on Tuesday.
read more... 27/04/2010
Lindsey refinery acquisition
Oil Refinery Petroplus, based in Switzerland, has submitted a proposal to buy Total’s refinery Lindsey in the UK. In order to reduce its total production capacity of oil, Total, the largest oil company in France, intends sell its 223 000 barrels per day Lindsey refinery. This event was rather unexpected news.
read more... 23/04/2010