Crude Oil News

Crude Oil Price Movements - Nov 06
Austria >> 11/15/2006 - OPEC Reference Basket
The market emerged in October in a volatile mode. While some OPEC Members reduced output in an attempt to trim a sharp downward trend in prices, ample supply outweigh...
October U.S. gasoline demand surges amid record price fall
United States >> 11/15/2006 - A record two-month price drop contributed to a surge in U.S. gasoline demand of more than six percent in October compared to year-ago levels though overall oil demand is still lagging 2005 levels on a...
Kuwait Considers Further Cut in Oil Production
Kuwait >> 11/14/2006 - Kuwait is considering further cuts in oil production and plans to address the issue at the next meeting of the Organization of Petroleum Exporting Countries if oil prices remain at the current level, ...
Chevron Seeks Permit for Refinery Expansion to Increase U.S. Gasoline Production
United States >> 11/13/2006 - Chevron U.S.A. Inc. today announced it has submitted an environmental permit application to the Mississippi Department of Environmental Quality for the construction of a major gasoline production unit...
Saudi Oil Min: "Very High Probability" OPEC to Cut Again
Saudi Arabia >> 11/7/2006 - Saudi Arabian Oil Minister Ali Naimi reiterated Tuesday that there is a "very high probability" that the Organization of Petroleum Exporting Countries will take further steps to rebalance the market b...
Nigeria to Offer 56 Oil Blocks in Next Bidding Round
Nigeria >> 11/6/2006 - Nigeria will offer 56 crude oil blocks in its next round of bidding.The country will make an announcement on the blocks very soon , Nigerian Oil Minister Edmund Daukoru said during his visit to Seou.<...
China Set for Nigeria Oil When Output Restored
Nigeria >> 11/6/2006 - China will head the queue for more crude oil imports from Nigeria if output from Africa's biggest producer swells in line with hopes to 4 million barrels a day within two years, said Nigerian oil mini...
Mauritania Willing to Offer China 4 - 5 Oil Blocks
Mauritania >> 11/6/2006 - Mauritania, a minor exporter of crude oil to China, is willing to offer four-to-five new oil blocks to Chinese explorers in the coming years, its Minister for Economic Affairs and Development said. Th...
UAE Oil Min: Have Implemented Decision Taken in Doha
Qatar >> 11/1/2006 - The United Arab Emirates has implemented the oil production cuts agreed in Doha, the country's oil minister said Wednesday at a conference in Abu Dhabi, U.A.E. The U.A.E. agreed to cut some 100,000 ba...
Iran Enforces 176,000 B/D OPEC Cut
Iran >> 11/1/2006 - Iran is lowering its crude oil exports to the international market by 176,000 barrels a day effective Wednesday, a senior Iranian Oil Ministry official said. "In the wake of the Organization of the Pe...
Saudi Aramco Exec: Production Cuts to Be Implemented
Saudi Arabia >> 10/31/2006 - Saudi Arabia definitely plans to proceed with the oil production cut it announced earlier this month, a top Saudi Arabian oil executive said Monday. "The cuts that have been" announced "will definitel...
Lavan Offshore holds 27% of nation’s crude production
Iran >> 10/22/2006 - Crude production and processing from Lavan, Sirri, Khark and Bahregan oilfields has reached 775,000 bpd, regional director of Lavan Offshore Oil Company told ISNA. The share of Lavan and Sirri islands...
Saudi Arabia to halt gasoline import
Saudi Arabia >> 10/21/2006 - Saudi Arabia, where high crude prices have caused oil demand to soar, may be able to temporarily stop importing over 500,000 barrels a month of gasoline when it starts selling a lower-octane grade at ...
OPEC Cuts Deep to Boost Prices Amid Doubts on Compliance
Saudi Arabia >> 10/20/2006 - Moving to shore up oil prices at a time of burgeoning crude stocks across the world, OPEC agreed to cut oil production for the first time in almost two years, pledging to take a larger-than-expected 1...
API Monthly Statistical Report for September 2006
United States >> 10/18/2006 - U.S. refiners pumped up the volume in September, producing more distillate than ever before and the highest levels of gasoline for the month, boosting inventories ahead of the winter, data compiled by...
Crude Oil Price Movements - October 06
Austria >> 10/16/2006 - OPEC Reference Basket
The market remained bearish in September. Easing Mideast geopolitical tensions at a time whenmany eastern marketers were engaged in the APPEC conference in Singapore ...
Oil Trade - October 06
Austria >> 10/16/2006 - OECD
According to preliminary data, OECD crude oil imports continued their upward trend to hit their highest level so far this year, averaging 32.1 mb/d in September, which corresponds t...
S Korea Signs Deal with Angola on Oil & Gas Devt Projs
Angola >> 10/12/2006 - South Korea and Angola signed an agreement Thursday that will allow Korean companies to take part in oil and gas field development projects in the African country, the Ministry of Commerce, Industry a...
Iraq Resumes Oil Exports to Ceyhan Port
Iraq >> 10/11/2006 - Iraq Tuesday resumed crude oil deliveries from its Kirkuk oil fields to the Turkish port of Ceyhan after a five-week suspension, an Iraqi oil official said. "The North Oil Co. managed to resume pumpin...
Uganda Oil Development Plan Ready in Six Months
Uganda >> 10/10/2006 - Uganda's Oil Development Plan is expected to be ready in six months following an agreement between the government and U.K.-based Tullow Oil PLC (TQW.DB) to fast-track the plan in order to resolve the ...

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