Crude Oil News

OPEC Exports Seen +250,000B/D in 4 Wks to Jan 20
United Kingdom >> 1/5/2007 - Seaborne crude oil exports from the Organization of Petroleum Exporting Countries are expected to rise 1% in the four weeks to Jan. 20, a leading U.K.-based tanker tracker said Thursday. Oil Movements...
Iraq Resumes Kirkuk Oil Flow to Ceyhan
Iraq >> 1/2/2007 - Iraq resumed pumping Kirkuk crude oil to the Turkish export terminal of Ceyhan Monday after a two-week suspension, an Iraqi oil official said Tuesday. He said some 150,000 barrels were pumped, bringin...
The Oil Sector - The Iraq Study Group Report
Iraq >> 1/1/2007 - The Oil sector is one of the major factors driving the US policy in Iraq. The following section describes the major recommendations provided by the Iraq Study Group Report: Since the success of the oi...
KNPC: our refining capacity unaffected as a result of Ahmadi Refinery maintenance works
Kuwait >> 12/26/2006 - KNPC said its refining capacity was not affected by the maintenance works carried out on a number of units in Ahmadi refinery, the biggest Kuwaiti refinery, which were completed two days back. Mohamme...
OPEC Faces Oversupply Issue in 2Q
Iran >> 12/19/2006 - The Organization of the Petroleum Exporting Countries faces a serious problem in the second quarter if it lacks an adequate plan to deal with the anticipated oversupply of crude from non-OPEC producer...
Chevron Completes Refinery Expansion Project to Increase U.S. Gasoline Production
United States >> 12/18/2006 - Chevron U.S.A. Inc., a wholly owned subsidiary of Chevron Corp., announced that its refinery in Pascagoula, Miss., has completed the expansion of its Fluid Catalytic Cracking Unit, which will increase...
Crude Oil Price Movements - Dec 06
Austria >> 12/18/2006 - OPEC Reference Basket
The petroleum market began November on an upward note before the resumption of supply from Nigeria pushed the weekly Basket 1% or 60 lower to settle at $54.16/b. How...
OPEC Panel Proposes 300,000 B/D Cut Now, Or 500,000 B/D Feb
Austria >> 12/15/2006 - A ministerial advisory panel to the Organization of Petroleum Exporting Countries is proposing a plan to cut oil production by 300,000 barrels a day immediately, or 500,000 barrels a day from Feb. 1, ...
Iran Oil Min: Global Oil Stocks Not Balanced Enough
Nigeria >> 12/15/2006 - Though there has been a drop in global oil inventories in the industrialized world, the oil market isn't fully balanced yet, Saudi Oil Minister Ali Naimi said Thursday. Iran's oil minister, who expres...
OPEC Oil Output Cut Seen at 0.8M B/D
Austria >> 12/7/2006 - The Organization of Petroleum Exporting Countries has achieved an oil output reduction of about 800,000 barrels a day since the group announced its production cut in late October, tanker tracker Oil M...
China Wants to Start Direct Negotiations with OPEC
China >> 12/4/2006 - China wants to start direct negotiations with the Organization of Petroleum Exporting Countries to secure a stable oil supply and an equitable share of the oil market, a top official said here Monday,...
US Energy Sec: Energy Ties to Africa Greatly Matters to US
United States >> 12/1/2006 - U.S Energy Secretary Samuel Bodman said Friday that Africa - one of the fastest growing petroleum regions in the world - was of growing strategic energy importance to the U.S., particularly as it trie...
OPEC Output Cut Seen at 0.7MB/D to Dec 16 vs Oct
Austria >> 11/30/2006 - Seaborne crude oil exports from OPEC are forecast to fall around 700,000 barrels a day in the four weeks to Dec. 16 compared with the same period in October, or about half of what the group pledged to...
OPEC Secy Genl Confirms Angola Poised to Join OPEC
Angola >> 11/30/2006 - OPEC's Secretary General Mohammed Barkindo confirmed that Angola was poised to join the oil producer group and Sudan was moving closer, but there was no formal timeframe for the two countries to join....
One US Firm Gets Less Saudi Oil, Expects Cuts to Continue
Saudi Arabia >> 11/28/2006 - One of Saudi Arabia's biggest U.S. crude oil customers is making do with less from the OPEC heavyweight and sees the reduction of Saudi supplies continuing in the "immediate future." Unlike other Sau...
Algeria Has Implemented OPEC Oil Output Cuts
Algeria >> 11/27/2006 - Algeria has implemented the oil production cuts agreed to by the Organization of Petroleum Exporting Countries in October, Energy Minister Chakib Khelil said Saturday. But further cuts are needed to s...
Iran OPEC Gov: OPEC Leaning to Cut Output at Dec Meeting
Nigeria >> 11/22/2006 - Members of the Organization of Petroleum Exporting Countries are leaning towards a further output cut when the group next meets Dec. 14 in Nigeria, Iran's OPEC governor said Wednesday. Hossein Kazempo...
OPEC Pres Admits Lack Of Output Cut Compliance
Nigeria >> 11/21/2006 - OPEC President Edmund Daukoru conceded in a newspaper interview Tuesday that some members of the oil producer group weren't complying with a 4% cut in its crude production, reinforcing the skepticism ...
Iran Has Cut 176,000 B/D as Part of OPEC Deal
Iran >> 11/21/2006 - Iran has cut 176,000 barrels a day of its crude output as part of an OPEC output cut announced last month, but the market needs at least a month before it can verify this, a senior Iranian oil officia...
OPEC Exports Seen Up In 4 Wks To Dec 4
Austria >> 11/20/2006 - OPEC seaborne exports are expected to increase in the four weeks to Dec. 2 for the second consecutive week, a leading tanker tracker said Thursday. According to Oil Movements' weekly report, exports f...

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