Gas – Bloomberg reports that Abu Dhabi shortlisted Exxon Mobil Corp., Royal Dutch Shell Plc and Occidental Petroleum Corp. as potential partners to develop the $10 billion Shah natural-gas project.
Crude Investing News reports crude oil fell due to inventories. Inventories of crude oil dropped 978,000 barrels to 337.4 million, the report showed. A 2 million-barrel gain was forecast by analysts. Supplies are 10 per cent above average. Imports fell 4.6 per cent to 9.1 million barrels a day last week. At just under $70 [...]
Crude Investing News reports on the long term correction of crude and equity markets. The long-expected correction in crude and equity markets (can anyone tell the difference between the two these days?) appears to have begun this week. The issue appears to be too much of a run-up too fast, as the pressure from a [...]
Crude Investing News reports Hurricane Ike was not as devastating as expected and thus having less impact on production, refining and transportation infrastructure in the Gulf Coast. Going forward, the ongoing lack of power in the Houston area will be the most significant obstacle to resuming pre-hurricane activity levels. Exxon Mobil (NYSE:XOM) has confirmed that the Baytown refinery has [...]
Gas Investing News reports on oil and gas prices just after the Gustav’s passing onto the Gulf of Mexico. NYMEX futures showed light crude taking a body blow, while natural gas seemed to largely shrug off the news. Part of this is the onset of autumn’s cooler weather and the coming demand increase for home [...]
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