Flagging of its interest in the black gold this week, China National Oil Corporation secured its place in Iraq. Together with BP, it signed the first big oil deal. Why the sudden interest in oil?
Analysts maintain that China’s rapid industrialisation and hunger for more cars has lead to a serious thirst for oil, one that [...]
Crude Investing News reports oil prices fall as US employers cuts over half a million of jobs.
It has been a roller coaster ride so far. In 1999, the price of oil hovered around $16 a barrel. In July 2008, it reached a peak of $147 a barrel. By the end of 2008, as most of the world fell [...]
Heavy Oil Investing News reports low oil prices and a tight credit market, the outlook for heavy oil and oil sands are pretty grim.
Indeed, Bloomberg is reporting that Jacobs Engineering Group Inc (NYSE:JEC) predicts a decrease of US$40 billion worth of oil sands-related projects, from US$120 billion to US$80 billion, largely due to reduced prices.
For complete story, [...]
Crude Investing News reports instability in the financial markets causing crude prices to fall and the American Elections underway.
Along with OPEC production cuts and healthy company numbers, (both discussed below) the market is clearly disjointed. The tenor of discussions in the business pages and networks lately suggests that Yeats was right, and the centre cannot hold. [...]
Crude Investing News reports oil has fallen in value after the troubled US Financial markets and its bail-out plan.
Another rough day for investors this Monday. As it became clear that the American House of Representatives would reject the authorization law for the executive’s US$700 billion financial sector bailout plan, commodities began to tank. Oil futures shed [...]
Gas Investing News reports Shell and the Iraqi government putting on paper, a joint venture deal.
In even better news, Shell opened a new office in Baghdad, a good sign that the country is beginning to find stability. Shell employees, however, refused to indicate where their office was.
For complete story, click this link. Follow developments in resource mining [...]
Crude Investing News reports the resurgence of oil futures and it is close to US$120s.
Two competing theories have been presented. It is argued that the American government’s massive reaction to the financial sector crises has restored confidence and allayed existing fears of further demand destruction and recession. To my mind, the more persuasive theory is [...]
Heavy Investing News reports oil prices rallying in the US$90 range and cause concern to investors.
The prospect of further price declines in conjunction with extremely curtailed access to credit should be worrying to companies. It should be especially worrying to juniors and companies on the venture exchange. In the months ahead, one would expect consolidation in the oil [...]
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 only [...]
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 heating [...]
Friday, November 6, 2009
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