Gulf Oil and Gas accountACCOUNT

100 Dollars a Barrel for Petroleum Price

Source: www.gulfoilandgas.com 10/30/2010, Location: Africa

Share |
Dr Shukri Image Mohamed Ghanem the secretary of the Nationanl Oil Corporation that OPEC need s Higher policy for petroleum to $100 a barrel because the rise of price sof imports such as food destroyed their returns of the countries in the organization. The price of oil stands between $70-80 dollars during the year and a great number of OPEC countries said that these prices are high enough to achieved good returns in spite of the global economic problem.

Dr Shukri Ghanem declared that the price of Petroleum should be $100to cover the great in crease in the price of food and he added that the price of food completely eliminates the return from petroleum and he said that OPEC countries that import food from abroad are facing a great increase in the price of imports and I consider that 100 dollars is the price that OPEC should aim for. And Reuter new agency indicates that the price of petroleum had risen by more tahn50% after Russia suffered the worst drought in 130 years and it reached the highest level since 2008 and Ghana did nit indicate how and when OPEC should aim to reach US 100$ a barrels and on the 14th of September was the 50th anniversary of the petroleum in the world and OPEC responsible from the past declared the purchasing power was caused by the weakness of the dollar. The two methods shads allow OPEC to raise the price one of which is to reduce production and which OPEC has not done since September 2008 and the other to and the supply unofficially to make production equals demand.

The organization will meet in next October to examine the supply police and in December 2008 OPEC announced a brief unprecedented reduction in supply that is 4.2 million barrels a day in order to improve pieces following the economic crisis and since that time . OPEC supply continued without change but many members increased their actual supply and did not actually reduce to about to one half what was planned.

Economics/Financial Analysis News in Libya >>

Egypt >>  2/14/2018 - C-Kore Systems closed off an excellent 2017 with an installation/commissioning campaign for the Egyptian Atoll project in collaboration with Subsea 7’...
Egypt >>  2/12/2018 - BP announced the start of gas production from the Atoll Phase One project, offshore Egypt. The project, in the North Damietta concession in the East N...

Egypt >>  2/2/2018 - Petroleum Minister Tareq el Molla discussed in a meeting with CEO of Kuwait Petroleum Corporation (KPC) Nizar Mohammad Al Adsani ways of boosting bila...
Egypt >>  1/29/2018 - Yokogawa Electric Corporation announces that its subsidiary, Yokogawa Middle East & Africa B.S.C.(c), has received an order from the state-owned Egypt...

Algeria >>  1/19/2018 - Cepsa, Sonatrach and Alnaft, the National Resources Development Agency of Algeria, have signed a new concession contract for the operation of the Rhou...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Libya Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 |

More News

 

Oil & Gas Companies in Libya >>


Related Links

AO BJ BW CD CG CI CM DZ EG ET GA GH GM GN GQ GW KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.