The United Arab Emirates declared that, they currently have a production capacity of 2.7 million barrels per day and are planning to increase the capacity to 3.5 million bpd. As a lot of multinational companies have large stakes in concessions in this country, the UAE relies on these to make it possible.
read more... 23/09/2010
At 13:30 GMT, U.S. crude for October, which expires on Tuesday, dropped 96 cents to $73.90 per barrel, a much pronounced decrease than expected. While the U.S. crude for November increased by 35 cents to $75.84 per barrel.
read more... 22/09/2010
The general manager of Turkey’s national oil and natural gas exploration company, TPAO, announced that they’re going to invest 4 billion USD in the forthcoming 3 years and to drill 500 oil wells in the next 5 years.
read more... 22/09/2010
Prompt South African coal cargo prices increased by 75 cents on Friday, despite a low demand this week in Europe and Asia. However these prices have been traded higher this week in order to maintain the actual level of the market, while new consumers will appear in the next quarter.
read more... 21/09/2010
On Monday, TNK-BP announced it has signed a contract to supply Russian ESPO crude oil blend to Vietnam, as the company is still going to buy BP’s assets in the Asian state.
read more... 21/09/2010