Crude Oil News

Major Contracts Inked for Shaybah Expansion
Saudi Arabia >> 4/12/2006 - Saudi Aramco's program to increase crude oil production received a significant boost April 9 with the signing of all five major contracts for the expansion of crude-oil production at the remote Shayba...
Crude Oil Price Movements - Mar 06
Austria >> 3/24/2006 - OPEC Reference Basket: The market weakened at the start of February following the OPEC decision to keep output unchanged at the January Meeting of the Conference. Easing geopolitical tensions in th...
Aramco Opens Haradh Crude Increment III
Saudi Arabia >> 3/22/2006 - Ali I. Al-Naimi, Minister of Petroleum and Mineral Resources, today participated in the 300,000 barrel-per-day (bpd) Haradh crude increment III opening ceremony held at the plant. In addition to its m...
World Oil Supply - Mar 06
Austria >> 3/17/2006 - Estimate for 2005: Non-OPEC supply in 2005 is expected to average 50.1 mb/d, representing an increase of 0.2 mb/d over 2004. Baseline revisions to the 2004 and 2005 estimates have resulted in a sligh...
World Oil Demand - Mar 06
Austria >> 3/17/2006 - Estimate for 2005: With preliminary data for OECD countries as well as many Developing Countries and China available for the entire 2005, global oil demand appears to have grown by 0.96 mb/d or 1.1% t...
Oil Trade - Mar 06
Austria >> 3/17/2006 - OECD crude oil imports continued to rise in February, gaining 53,000 b/d over the previous month to average 31.7 mb/d in February for a y-o-y increase of 195,000 b/d. Product imports increased by 73,0...
Iranian Experts Manufacture Mobile Crude-Processing Unit
Iran >> 2/15/2006 - Experts at Iran’s oil industry have managed, for the first time in the Middle East region as well as other oil-rich countries, to design and manufacture the mobile crude oil processing unit. The unit ...
Crude Oil Price Movements - Feb 06
Austria >> 2/15/2006 - OPEC Reference Basket: The Basket escalated in January to record-highs after slipping in late December on warmer weather in North America. The year started strong following the disruption of Russian n...
Near-term outlook for non-OPEC Crude Supply (OPEC)
Austria >> 2/15/2006 - Following a dismal year in 2005, non-OPEC oil supply is expected to see a sharp rise in growth of 1.4 mb/d in 2006. A key question for the market is whether this higher growth represents a short-lived...
First Crude Refinery of Bushehr to be Set up in Bahregan
Iran >> 2/13/2006 - The first crude oil refinery of Bushehr Province will be set up in Bahregan. The construction of this refinery will be launched in the next Iranian year (to be started March 21, 2006). The crude oil r...
Aramco Mega Projects Key to Economic Growth
Aramco Mega Projects Key to Economic Growth Saudi Arabia >> 2/8/2006 - A senior project analyst recently detailed the scope of Saudi Aramco's mega projects and explained their importance to the Kingdom's economic development recently at the Saudi Aramco Exhibit. Timir U....
Hardman Enters Chinguetti Crude Oil Sales Contract
Mauritania >> 2/1/2006 - Hardman Resources Ltd has entered into a term sales contract for its crude oil production entitlement from the Chinguetti field offshore Mauritania, West Africa with Vitol S.A., a major oil trading c...
Crude Oil Price Movements - Jan 06
Austria >> 1/20/2006 - The OPEC Reference Basket slipped a marginal 33¢ to $50.13/b in the first week of December on high freight rates which dampened regional markets and the forecast for warmer weather in the Northern Hem...
VAALCO Energy Updates Gabon Activity
Gabon >> 1/11/2006 - VAALCO Energy, Inc. has reached an agreement with the Government of Gabon for a five-year extension of the Etame Marine Permit. The extension, which will go into effect July 2006, is divided into a th...
Assaluyeh’s DMC Unit Design and Engineering to be Done by Yearend
Iran >> 12/25/2005 - Construction contract of a DMC (dimethyl carbonate) industrial plant in Assaluyeh with production capacity of 80,000 bpd went into effect today and design and engineering stages of the plan will be fi...
Review of oil market in 2005, outlook for 2006 (OPEC)
Austria >> 12/16/2005 - With 2005 coming to a close, the estimate for world GDP growth now stands at 4.4%, lower than the spectacular growth rate seen in 2004, as rising interest rates and higher energy prices have modera...
World Oil Demand - Dec 05
Austria >> 12/16/2005 - With preliminary data at hand for the first three quarters of 2005 and a healthier outlook for the world as well as regional economies for the reminder of 2005 and 2006, world oil demand is project...
World Oil Supply - Dec 05
Austria >> 12/16/2005 - Forecast for 2005: Non-OPEC supply in 2005 is expected to average 50.2 mb/d, representing an increase of 0.37 mb/d over the previous year and a downward revision of around 1 mb/d since it was first ma...
Balance of Supply and Demand - Dec 05
Austria >> 12/16/2005 - The demand for OPEC crude in 2005 (a-b) is forecast at 28.8 mb/d, an increase of 0.62 mb/d from 2004 to remain unchanged from earlier projections. On a quarterly basis the demand for OPEC crude is est...
Oil Market Highlights - Dec 05
Austria >> 12/16/2005 - The world economy enters 2006 in very good health. The US economy has proved resilient as consumers and businesses have coped with the impact of the hurricanes. Next year should benefit from rising...

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