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Ghana discovered oil in June 2007, and the Ghana National Petroleum Company (GNPC) is anticipating that the country could produce about 120,000 barrels a day and between 800 million to three billion barrels annually. Ghana's current oil consumption is between 40,000 to 60,000 barrels a day. (Ghana Web, Ghana)
Kufuor's modus operandi exposed Nov 3, 2009
It has turned out from Emerging available documents that the petroleum agreement among Kosmos Energy, GNPC and the Government of Ghana, was the worst petroleum agreement ever signed by the GNPC and government ... After almost 20 years of assembling data, analyzing and promoting the petroleum potential of Ghana at various international fora, GNPC walked away with an infinitesimal 10% interest, whilst the Presidents cronies alone walked away with 3. (Ghana Web, Ghana)
Timor Sea oil leak plugged Nov 3, 2009
November 3, 2009 - 9:49PM. The relief effort to plug an oil well leaking into the Timor Sea for more than 10 weeks which also sparked a fire on an oil rig could not have been handled much differently, the operator says. (Sydney Morning Herald -- Australia)
Workplace safety presentation is offered Nov 3, 2009
There is still time to register for the Remember Charlie safety presentation to be held at The Well on the campus of Williston State College and sponsored by the North Dakota Petroleum Council. The Remember Charlie details Charlie Morecrafts personal near-death experience at a refinery. (Williston Daily Herald, ND)
Feds say Muni workers let fuel spill into bay Nov 3, 2009
"This wasn't a Cosco Busan-size spill, but any release of petroleum into the bay is a problem. The bay is already stressed; it's fragile.". The Municipal Transportation Agency's Board of Directors has approved the settlement. (San Francisco Chronicle -- Science)
Toyotas' floor mats at fault in report Nov 3, 2009
Richard dePagter, a retired petroleum engineer from Carlsbad, reported a sudden acceleration problem with his 2008 Lexus ES350. He remains skeptical that floor mats are the problem. (San Diego Union-Tribune)
Green or black? Nov 3, 2009
The American Petroleum Institute opposes the plans for a system of "cap and trade" to limit emissions but several large oil firms support them. We could see a bio-refinery in five years producing oil, diesel and jet fuel. (BBC News -- Science)
Want to cut emissions in the US? Change the discussion. Nov 3, 2009
Given the location of the world's petroleum reserves, when Americans pull out their credit cards at the gas pump or pay for their heating fuel, they indirectly fund Mahmoud Ahmadinejad's nuclear and missile programs, enrich Muammar Qaddafi (while he rants at the UN against the United States, and give assistance to Vladimir Putin as he threatens American interests in the Caucasus and Central Europe ... At the very least, without their petroleum exports all these countries would be far weaker. (Christian Science Monitor)
Oil extends gains above $78 Nov 3, 2009
Industry group American Petroleum Institute will issue its weekly report on US inventories later on Tuesday, while the US government Energy Information Administration will issue its data on Wednesday. Oil got a boost on Monday after US manufacturing activity hit its highest level in 3- years last month and pending home sales contracts unexpectedly jumped in September, easing fears the budding economic recovery of the world's largest oil consumer would falter. (India Times)
Energy XXI Reports Fiscal First-Quarter Results and Provides Operational Update Nov 3, 2009
The technical information contained in this announcement relating to operations (including information in the attached Operations Report) adheres to the standard set by the Society of Petroleum Engineers. Tom O'Donnell, Vice President of Corporate Development, a registered Petroleum Engineer, is the qualified person who has reviewed and approved the technical information contained in this announcement ... Barrel - unit of measure for oil and petroleum products, equivalent to 42 U.S. gallons. (Primezone Releases)
GMXR Announces Closing of Midstream Transaction With Kinder Morgan Nov 3, 2009
Its pipelines transport natural gas, gasoline, crude oil, CO2 and other products, and its terminals store petroleum products and chemicals and handle bulk materials like coal and petroleum coke. KMP is also the leading provider of CO2 for enhanced oil recovery projects in North America. (Primezone Releases)
China voices concern over India's visa policy Nov 3, 2009
About 25,000 Chinese workers in sectors such as power generation, communication and petroleum in India will be affected by the clampdown. Under the amended rules, foreign clerical, secretarial and unskilled workers will not be given work visas in India. (India Times)
Anadarko 3Q Profit Tumbles; Volume Increases Nov 3, 2009
Anadarko Petroleum says 3rd-qtr profit falls from lucrative year-ago period, but volumes up ... Anadarko Petroleum Corp. said Monday its profit plunged during the third quarter, but that sales volume will jump this year even though spending has declined. (ABC News -- Wire)
Indian Oil faces claims from third parties as fire continues Nov 3, 2009
The claims would be borne by the companys statutory public liability cover provided by ICICI Lomboard and the additional third-party liability cover provided by state-owned New India which has provided a combined Rs 100-crore policy to the oil companies Indian Oil, Hindustan Petroleum and Bharat Petroleum ... The depot with thirteen storage tanks held around 50,000 kiloliters of petroleum product which continued to burn on the fifth day since the fire began on Thursday. (India Times)
Nigeria: 'Yar'adua is a Liar!' Nov 3, 2009
Lagos So says the Nigerian National Petroleum Corporation and the Pipeline and Products Marketing Company, a subsidiary wholly owned by NNPC that is responsible for the marketing and distribution of petroleum products on behalf of the corporation ... The Nigerian National Petroleum Corporation is not just limited to catering to the government's interest in the crude oil exploration and production programme alone, like other major oil marketers, it is a major oil marketing firm that markets and... (allAfrica.com)
Global oil yardsticks shaken by Saudis Nov 3, 2009
Petroleum Intelligence Weeklys International Crude Oil Market Handbook, a traders bible, lists almost 200 different crudes, from Kutubu of Papua New Guinea to Cao Limn of Colombia. EDITORS CHOICE. (FT.com -- Markets)
Midway Energy Ltd.: Third Quarter Report For the Three and Nine Months Ended September 30, 2009 Nov 3, 2009
Corporate Highlights Q3 Q2 Q3 YTD YTD ($ 000's, except per share amounts) 2009 2009 2008 2009 2008 ---------------------------------------------------------------------------- Petroleum and natural gas revenue 2,053 2,369 4,365 7,589 15,392 Funds from (used in) operations (1,513) 274 1,770 (250) 7,677 Basic and diluted per share (0 ... 95 Netback ($/boe) Petroleum and natural gas revenue 25. (CCNMatthews Press Releases)
Iran Military Power Faces U.S. Study for First Time Under Defense Measure Nov 3, 2009
Committees in the House and Senate last week backed separate legislation to further restrict trade with Iran by imposing sanctions on companies that supply the country with refined petroleum products. While Iran is the worlds fourth- largest oil producer, limited refining capacity forces it to import about a third of its gasoline. (Bloomberg -- Germany)
Competing gas pipeline projects prepare their pitches Nov 3, 2009
The state's pipeline project works against the interests of the North Slope leaseholders who would need to commit trillions of cubic feet of gas to the project, wrote former state petroleum economist Roger Marks in a recent paper titled "Why America May Not See Alaska Natural Gas Soon" for a peer-reviewed academic journal. Marks detailed a series of potential flaws that he and other skeptics -- including North Slope producers -- have raised ever since 2007 when former Gov. Sarah Palin kicked off... (Anchorage Daily News)
State investigates Slope accident that crushed worker Nov 3, 2009 Holly Energy to sell 1.9M stock units Nov 3, 2009 Don: Two sectors to gain from membrane technology Nov 3, 2009 Madison R. Stevens Awarded Nov 3, 2009 State and Local People on the Move Nov 3, 2009 Climate Bill Faces High Hurdles in Senate Nov 3, 2009 Car care advice for consumers facing tough economic times Nov 3, 2009 Beacon Hill Roll Call: Lawmakers: Tenants should be notified of affordable housing conversion Nov 3, 2009 Afghan Challenger Drops Out of Election Nov 2, 2009 Analysis: Iran In No Hurry To Cut Nuclear Deal Nov 2, 2009 Nigeria: National Assembly Intervenes in Deregulation Face-Off Nov 2, 2009 AGL not ruling out a bid for Energy Australia Nov 2, 2009 Australia oil well catches fire Nov 2, 2009 Liquefied gas looking solid Nov 2, 2009 Woodside sells Otway stake to Origin Nov 2, 2009 Cairn may supply oil to RIL, Essar Nov 2, 2009 If we leave Iraq, do we lose for good? Nov 1, 2009 ATF fuel prices hiked by Rs 3,400 Nov 1, 2009 Gas prices chugging higher as holidays near Nov 1, 2009 Dena'ina exceeds expectations despite economy Nov 1, 2009 Dead fish off Indonesia after oil leak Nov 1, 2009 New WPI series for more accuracy Nov 1, 2009 Growing ND company adds Silicon Valley executive Nov 1, 2009 Australian oil spill well on fire: officials Nov 1, 2009 Leaking Timor Sea oil rig catches fire Nov 1, 2009 * Business Quick Take Nov 1, 2009 Restoration agreement two views Nov 1, 2009 Marketers Hoard Fuel" class="heading" > D-E-R-E-G-U-L-A-T-I-O-N: Marketers Hoard Fuel Nov 1, 2009 Shermanesque answer by Kyl refutes report Nov 1, 2009 Could We Use The Oil To Begin A More Transparent Governance Nov 1, 2009 Nippon Oil, Nippon Mining Sign Agreement to Merge in April to Cut Costs Oct 31, 2009 FBI: No sabotage in Puerto Rico explosion Oct 31, 2009 Rs 230 cr insurance claim for IOC fire Oct 31, 2009 National Fuel Gas customers will see 1.5 percent price increase Oct 31, 2009 Berry Petroleum beats EPS estimates Oct 31, 2009 China's oil supply faces risks, expert says Oct 31, 2009 Avro Energy Provides Additional Information on Rodessa Formation on South Arkansas Leases Oct 31, 2009 Ill winds over Iran's nuclear draft Oct 31, 2009 FTSE hit as confidence fades Oct 31, 2009 Beacon Hill Roll Call: House votes to retain affordable housing Oct 31, 2009 Fuel prices may be falling but so is the mercury Oct 31, 2009 Up for the NYC Marathon challenge Oct 31, 2009 * Iran leader welcomes nuclear plan Oct 31, 2009 * India oil depot fire leaves five dead and 150 injured Oct 31, 2009 Economic growth signals end to lengthy recession Oct 31, 2009 Canada Stocks Fall, Led by Oil Producers, as Economy Unexpectedly Shrinks Oct 31, 2009 Venezuela's Ramirez Says OPEC Should Maintain Production Amid Inventories Oct 31, 2009 Fuel prices up by 5% Oct 31, 2009 Jaipur fire: Rs 500 crore goes up in flames Oct 31, 2009 Oil trades below $79 Oct 31, 2009 Chevron quarterly profit off 52% from '08 record Oct 31, 2009 Oil trades below US$78 as US dollar strengthens Oct 31, 2009 County to fight back on pipeline7:34 pm | (No comments posted.) Oct 31, 2009 Increasing ethanol use is key to having a cleaner planet Oct 31, 2009 Nigeria: Federal Govt Suspends Fuel Importation Oct 31, 2009 US warily leans to new Iran sanctions over nukes Oct 31, 2009 Essar in talks to acquire three Shell refineries Oct 31, 2009 Oil slumps 3% on recovery doubts Oct 31, 2009 Shares snap winning run Oct 31, 2009 Madison R. Stevens Awarded Oct 31, 2009 Bangladesh—2009 Article IV Consultation: Preliminary Conclusions of the IMF Mission Oct 31, 2009 Are you paranoid about the railroad? Oct 30, 2009 Ex-VECO chief sentenced to three years Oct 30, 2009 Energy Economics and Some Energy Myths for the 21st Century Oct 30, 2009 Oil price up sharply on US growth Oct 30, 2009
It operates divisions in petroleum refining and marketing, government technical services, energy services and construction. It was not immediately clear what division of the company Fay worked for but Standley said preliminary reports are that he was a laborer. (Anchorage Daily News)
Anadarko 3Q profit down sharply Nov 3, 2009
Anadarko Petroleum Corp. (NYSE: APC), reported a net income of $200 million, or 40 cents per share for the third quarter. The results were helped by $251 million worth of items not typically included in the earnings estimate, the company said. (Pittsburgh Business Times, PA)
L.P., which transports petroleum products, said Monday the company is putting 1. 9 million units of common stock up for sale to help fund the cash portion of the company s purchase of refining assets in Tulsa, Okla. (Dallas Business Journal, TX)
One of the leading petroleum companies in the world will soon use the technology for exploration activities on its gas fields off South China Sea, Ahmad told a media briefing on Monday ... He said UTM-AMTEC also had been engaged by the worlds biggest petroleum company Saudi Aramco to use the HMMM technology for removing nitrogen from natural gas. (The Star Online, Malaysia -- Business)
He continued this occupation with National Lead and later with several oil companies totaling 28 years in the field of mineral and petroleum exploration and mineral production. (Ozark Gazette-1994). (Park Hills Daily Journal, MO)
LaPorte originally joined the company in 1985 working for the company s petroleum operation ... TGC is developing technology to further reduce its carbon footprint by incorporating domestically produced, renewable alternatives to petroleum for gas supply in Hawai i, the release says. (Lihue Garden Island, HA)
It is the historical innovative usage of the finite resource (petroleum) coupled with rapid development and change in land usage that has brought this monumental problem to our door ... Sadly, the very resource (petroleum) that fuels our global growth enhances the greenhouse effect, which exacerbates global warming. (CBS News -- US)
Beyond regular, specified oil changes, automobile manufacturers recommend the use of high-quality motor oils that meet the latest American Petroleum Institute (API) specifications in their particular grade. Consumers should ask for quality motor oils by name because they are formulated to meet the demands of today's engines. (Fairfax Chronicle, VA)
House 0-152, rejected an amendment to a bill requiring the $50 billion state pension fund to divest its holdings in foreign companies doing business related to petroleum with Iran. Supporters of the bill itself say that Iran is one of the most evil and dangerous nations in the world and should not receive any support from Massachusetts' pension fund. (Needham Tab, MA)
" by bubbadubba November 1, 2009 8:48 AM EST The oil companies paid him off to drop out. The oil companies want that pipeline.Get a clue world.I like President Obama but he also needs to get a clue as to why we really in Afghanistan and why so many bribed Republicans are demanding we stay there.OUT OF AFGHANISTAN NOW. by Joutue November 1, 2009 10:06 AM EST By jontue november 1,2009 8:41 Am My sentiments exactley, someone sure paid him off. It's been corruption since, day one of us involvements.... (CBS News -- World)
Congress also could give the White House new sanctions leverage, this time to penalize foreign firms that sell and ship refined petroleum products to Iran. That is perhaps Iran's most vulnerable point. (CBS News)
The Group General Manager, Public Affairs of the Nigeria National Petroleum Corpora-tion (NNPC), Dr Levi Ajuonuma, said in a statement yesterday that a committee comprising NNPC and Department of Petroleum Resources (DPR) officials has been set up to monitor supply of petroleum products. But the Independent Petroleum Marketers Associa-tion of Nigeria (IPMAN) has blamed NNPC ... "We have to sit with labour, sit with the executive arm of government, the Minister of Petroleum, and civil servants as... (allAfrica.com)
Woodside Petroleum will sell its stake in an Australian gas project to. Top Business articles. (Sydney Morning Herald -- Business)
" Australian Resources Minister Martin Ferguson said in a statement that some of the world's leading experts were working to fix the leaking well and respond to this latest problem. Mr Ferguson said the National Offshore Petroleum Safety Authority had been called out to help fight the fire and that Geoscience Australia and the Australian Maritime Safety Authority were on standby. But an opposition spokesman, Greg Hunt, accused Environment Minister Peter Garrett of doing nothing to stop the oil... (BBC News -- Asia-Pacific)
Woodside Petroleum has said that as its massive Pluto project comes onstream, its LNG revenues could soar fivefold. Another company, Oil Search, believes its planned LNG development in Papua New Guinea will lead to a trebling of its annual oil and gas production. (The Age, Australia)
Woodside Petroleum will sell its stake in an Australian gas project to partner Origin Energy for $712 ... 7 million tonnes of liquid petroleum gas. (Sydney Morning Herald -- Business)
Till now, the company, which began production from its Rajasthan fields in August-end, could sell the crude oil only to state-run companies Indian Oil Corp (IOC), Hindustan Petroleum (HPCL) and Mangalore Refinery and Petrochemicals (MRPL). The designated public sector refiners will lift only about 50% of the total estimated production of Cairn Indias estimated crude production. (India Times)
To me George W. exemplifies the men kicking back at the Midland Petroleum Club saying, "We gotta get rid of high taxes" and "Too many welfare queens" and "We gotta get the government off our backs." He was a stealth candidate for these values, fooling many Americans into thinking he must be an East Coast patrician "moderate" like his dad. I know his type very well -- the joking Texas frat rat with a mean streak who matures into a small-town country-club Republican with a mean streak. (Salon)
IOC, Bharat Petroleum and Hindustan Petroleum had for three consecutive fortnights reduced ATF rates mostly because international oil prices had eased and rupee strengthened against US dollar. In three cuts, jet fuel prices in Delhi came down to Rs 36,188. (India Times, India)
Gas prices are rising even as Americans drive much less than they did before the recession hit, and as the country sits on massive petroleum supplies. A weak dollar is making fuel more expensive. (WCAX.com, VT)
Bill Holland, of Crowley Petroleum Distribution, walked into the 15,000-square-foot hall to check on his company's booth, where he planned to hawk Crowley's snowmobile engine oil, called Mystic, to local retailers. The event in the exhibit hall was the second Oxygen and Octane Expo. (Anchorage Daily News)
WWF accused the Australian Petroleum Production and Exploration Association of misrepresenting its resent survey as having found "no evidence" of harm to marine life. "This is clearly a false representation of our results and appears to be an attempt to sweep this environmental disaster under the carpet," Llewellyn said. (MSNBC -- International)
The weekly index will facilitate monitoring of prices of agricultural commodities and petroleum products, which are sensitive in nature. The primary articles and fuel index will have almost the same number of items as the present series while there will be about 1,100 manufactured products in the proposed series. (India Times)
Steven G. Grape, an Energy Department petroleum engineer, said Wednesday that North Dakota averaged 206,000 barrels daily in May, compared with 205,000 barrels for Louisiana ... Oil companies have begun to pump more petroleum and bring in more profits as they recover from an otherwise miserable year ... Oil companies have begun to pump more petroleum and bring in more profits as they recover from an otherwise miserable year. (Fresno Bee -- State)
Energy Minister Martin Ferguson directed the National Offshore Petroleum Safety Authority to "extend every possible assistance" to respond to the blaze on the West Atlas rig off Australia's northwest coast. Australia's Maritime Safety Authority will also support efforts to quell the fire on the drilling rig which has been spewing up to 400 barrels of oil into the ocean each day since August 21, he said. (Yahoo! Asia News)
Ferguson said the National Offshore Petroleum Safety Authority had been called out to help fight the fire and that Geoscience Australia and the Australian Maritime Safety Authority were on standby ... PTTEP plans to produce about 35,000 barrels of oil per day from the Montara field, which should boost its 2009 petroleum sales to 240,000 bpd. (AlertNet)
PETROLEUM Chevron lifted Q3 production. Chevron said on Friday it pumped its way through a weak third quarter, producing more oil as prices recovered from a severe plunge earlier in the year. (Taipei Times, Taiwan -- Business)
Old fashioned and happy wrote on Oct 30, 2009 3:33 PM:" To Observer:You sound Marxist or Socialist or Ghia ist ?? Do you believe in :Environmental causes and fish "first" over human needs-Fear too many people believe in enforced population control -Have little or no respect for private property -Believe in Communal "solutions"-Believe in Re-distribution of the wealth-Express Anger at earned wealth-Anger at successful business people-Anger at established judicial methods of problem... (Klamath Falls Herald & News, OR)
THE Nigerian National Petroleum Corporation (NNPC) described it as "panic buying" and assured that it had enough premium motor spirit (PMS) or petrol to last 40 days should importation of fuel be halted suddenly. And its sister agency - the Petroleum Products Pricing Regulatory Agency (PPPRA) - had also denied any move to increase the price of petrol from N65 upward ... A statement by a spokesperson for the agency, Yusuf Mu'azu summarised as untrue reports in some media that it had been directed... (Guardian News, Nigeria)
The Iran Refined Petroleum Sanctions Act cleared the committee. Also on Wednesday, Flake voted against a measure honoring the 2,560th anniversary of the birth of the Chinese philosopher Confucius. (AZCentral -- News)
By the latest information available that Ghana National Petroleum Corporation (GNPC) has the financial resources to purchase the interests of Kosmos Energy LLC. in the Jubilee Oil project, it is obvious the Nation wants to maximize its benefits derived from the Oil discovery. It has been reported that GNPC would then partner with some other, ostensibly private, entity to manage the resource. (Ghana Web, Ghana)
Japans refining capacity may exceed demand by about 2 million barrels a day, or about half the current level, by 2020, Petroleum Association of Japan Chairman said on Oct. 15 ... Fuel cells extract hydrogen from liquid petroleum gas to heat water and generate electricity at homes, producing less pollution. (Bloomberg -- Japan)
A leak of gasoline vapor caused the blast at the Caribbean Petroleum Corp. facility near the U.S. territory's capital, San Juan, according to Luis Fraticelli, the FBI special agent in charge for the island ... Caribbean Petroleum supplies 200 Gulf gas stations in Puerto Rico. (MSNBC -- International)
Petroleum minister Murli Deora said there was no option but to let the fire burn itself out. The value of the petroleum products stored in the facility was reported to be in the range of Rs 150 crore. (India Times)
Those prices, which typically move in lock-step with petroleum prices, fell through most of the summer because of declining demand for energy and the expansion of stored reserves. A cooler summer meant less need for air conditioning and lower demand on natural gas-fired power plants. (Erie Times-News, PA)
Berry Petroleum is an independent oil and gas production and exploitation company that operates in Colorado, California, Utah and Texas. Most Read Stories. (Denver Business Journal, CO)
Zhu Jianjun, a researcher with China National Petroleum Corporation (CNPC), China's largest oil producer, said at a forum on China's energy strategy recently that it is not oil shortage but the uneven distribution of oil resources that caused instability in the world oil market. Soaring oil price is the first risk, Zhu said. (Xinhuanet, China -- Business)
Oct. 30, 2009 (GLOBE NEWSWIRE) -- Avro Energy, Inc. (OTCBB: - ) announces, further to the Company's news release dated October 29, 2009, the Company's independent consulting Petroleum Geologist, in his preliminary opinion on the South Arkansas project states that: "Well logs indicate a Rodessa Formation that looks productive. Historically, there is a lot of Rodessa production in this area." The Company's independent consulting Petroleum Geologist has recommended that in addition to the workover... (Primezone Releases)
They are targeting Iran's dependence on imported petroleum, which, if subjected to sanctions by the Obama administration, would amount to a declaration of economic warfare against Iran, to paraphrase the Tehran professor. He wonders whether Obama has been eclipsed by an avalanche of "Iranphobic pressures, or whether he can still demonstrate that there is a real change in US foreign policy?". (Asia Times Online)
Meridian will change its name to President Petroleum and Mr Levine is to emerge with a 29. 9 per cent stake. (FT.com -- Markets)
House 0-152, rejected an amendment to a bill requiring the $50 billion state pension fund to divest its holdings in foreign companies doing business related to petroleum with Iran ... Tony Cabral (D-New Bedford) speaking in support of a bill that would require the state pension fund to divest its holdings in foreign companies doing business related to petroleum with Iran. (Cambridge Chronicle, MA)
AAA credited the hike to more optimism about a global economic rebound that will boost demand for petroleum products off their current "rock bottom" levels ... Dave Galt, executive director of the Montana Petroleum Association, pointed out that prices for crude and gasoline are related, but their markets are quite different. (Montana Standard, MT)
The Montana Standard. The Montana Standard. (Montana Standard, MT)
The panel, led by Democratic Senator Christopher Dodd, voted 23-0 to pass the legislation, which notably targets firms that help the Islamic republic obtain refined petroleum products like gasoline. On Wednesday, the House Foreign Affairs Committee approved legislation enabling US President Barack Obama to slap sanctions on firms involved in shipping refined petroleum products to Iran or helping the countrys domestic refining efforts ... Iran gets most of its gasoline imports from the Swiss... (Taipei Times, Taiwan -- World)
We are finding it a bit difficult to douse it, federal Petroleum Minister Murli Deora told reporters. Dense clouds of black smoke billowed out of the oil depot as the fire soon spread to other gas tankers nearby. (Taipei Times, Taiwan -- World)
NEW YORK Oil companies have begun to pump more petroleum and bring in more profits as they recover from an otherwise miserable year. None of the world's biggest producers, however, sees a quick return to boom times of last year. (Honolulu Advertiser)
The feeling is that OPEC still has room to increase their capacity as well, he said, referring to the Organization of Petroleum Exporting Countries. Seven of the countrys eight publicly traded banks declined. (Bloomberg -- Canada)
Oct. 30 (Bloomberg) -- Venezuela wants the Organization of Petroleum Exporting Countries to maintain production when the group meets in December, Oil Minister said. For this meeting, Venezuela prefers to be cautious, Ramirez said today in an interview in El Tigre, Venezuela. (Bloomberg)
The National Petroleum Authority (NPA) has announced a five per cent increase in fuel prices which takes effect on Saturday. The increases follow hikes in crude oil prices in the world market which hovers around $80 per barrel. (Ghana Web, Ghana)
During the day, petroleum minister Murli Deora visited the site but could not throw much light on what exactly triggered the killer blaze and how it spun out of control ... On Thursday, IOC officials said that based on preliminary reports the fire broke out after a pipeline valve failed when petrol was being transferred from the IOC terminal to Bharat Petroleum's terminal just a little distance away. (India Times, India)
Analysts point to still fragile demand and the accumulation of huge stocks of oil and petroleum products as reasons to be cautions. "With the fervent mood sweeping oil markets (Thursday) the F word fundamentals still seems to be far from many minds," JBC noted. (San Francisco Chronicle -- Business)
All big international oil companies have seen their profits drop in 2009, as the global recession put an end to last year's record petroleum prices that briefly topped $145 per barrel. Third-quarter profit for Exxon Mobil Corp., the nation's largest oil company, tumbled 68 percent compared with the same period last year, while ConocoPhillips' profit dropped 71 percent. (San Francisco Chronicle -- Business)
Analysts point to still fragile demand and the accumulation of huge stocks of oil and petroleum products as reasons to be cautions. The dollar rose Friday, with the euro dropping to $1. (The Star Online, Malaysia)
The county commissioners were trying, and still are trying, to assemble a land-use zoning ordinance that would regulate hazardous-material pipelines carrying petroleum, anhydrous ammonia and related products. While local opinions ran strongly in favor of the proposed ordinance, the commissioners decided it would go too far in some ways and needs more work. (Watertown Public Opinion, SD)
There is widespread agreement in the scientific and research communities that biofuels produced from American farms have significant benefits over petroleum and other fossil fuels. Ethanol is non-toxic and biodegradable. (Juneau Empire)
Abuja As part of its preparation towards the commencement of deregulation of the down stream sector, the federal government has banned the importation of finished petroleum products for one month. This was disclosed yesterday by the executive director of Petroleum Products Pricing and Regulatory Agency (PPPRA) when he appeared before the House of Representatives committee on petroleum resources (down stream) ... According to the executive director, the PPPRA has withheld the approval and licence... (allAfrica.com)
To that end, the administration is quietly supporting legislation in Congress that would give President Barack Obama a broad new array of authority to target Iran's energy sector by penalizing foreign firms that sell and ship refined petroleum products to Iran ... To that end, the administration is quietly supporting legislation in Congress that would give President Barack Obama a broad new array of authority to target Iran's energy sector by penalizing foreign firms that sell and ship refined... (Fresno Bee -- Business)
TNN 31 October 2009, 01:20am IST. NEW DELHI: Anglo-Dutch energy major Shell is in "exclusive" talks to sell three of its refineries in Europe aggregating a capacity of 23 million tonnes to Essar Oil Ltd promoted by the Mumbai-based Ruia family. (India Times, India -- Intl Business)
Analysts point to still fragile demand and the accumulation of huge stocks of oil and petroleum products as reasons to be cautions. AFP. (Sydney Morning Herald -- Business)
Energy companies were mixed, with Woodside Petroleum gaining $1. 01 to $47. (Sydney Morning Herald -- Business)
He continued this occupation with National Lead and later with several oil companies totaling 28 years in the field of mineral and petroleum exploration and mineral production. (Ozark Gazette-1994). (Park Hills Daily Journal, MO)
International oil prices have been rising in recent weeks and domestic prices for petroleum products and electricity are again below the levels needed to cover the costs of the BPC and the PDB.. The mission recommends that the authorities opt for early and more frequent adjustment of retail energy prices, combined with targeted compensation for the poor. (IMF News)
The company offers transportation services for agricultural products, such as whole grains and related commodities, food, and beverage products; automotive products; chemicals, including liquid and dry chemicals, plastics, and liquid petroleum products; energy products; industrial products; and intermodal containers. The company's main objective is to run their trains slower through Columbus, NE during peak traffic hours thus blocking crossings. (Columbus Telegram, NE)
Allen pleaded guilty in May 2007 to improperly influencing a handful of state lawmakers with the aim of passing legislation that was beneficial to the petroleum industry ... Instead, the terms were calculated on his role in bribing Alaska state lawmakers during petroleum tax deliberations in 2006. (Juneau Empire)
According to a British Petroleum (BP) document, of 54 producing nations only 14 still show increasing production. 30 are past peak output, while output rates are declining in 10. (Energy Pulse, CO)
"Oil futures are up sharply on the GDP data, on optimism that economic conditions will improve and raise demand for petroleum products," said Andy Lebow at MF Global. Oil prices have more than doubled since the start of the year, but are still well below the high of $147 hit last July. (BBC News -- Business)
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