Jun 4th, 2012
The OPEC basket price of oil (OPEC Reference Basket of crudes) dropped the first Friday in June of $ 3.62 (-3.6%), from 101.06 dollars a barrel, to 97.44 dollars a barrel on March 31, reported organization in a statement.
In January 2012, the average price of a barrel of OPEC totaled $ 111.76 in February – to $ 117.48 in March – to $ 122.93 in April – to $ 118.18 and May – $ 108.07.
The...
Apr 26th, 2012
LONDON (Reuters) – On Thursday Royal Dutch Shell reported 11% increase in its quarterly profit, surpassing analysts’ consensus, due to higher oil prices and development of new projects.
Both have more than offset lower gas prices in the United States.
The first European oil company by market capitalization reported a net current cost (SAC) of 7.66 billion dollars (5.8 billion euros).
Excluding items,...
Apr 25th, 2012
New Orleans – The U.S. Department of Justice yesterday announced the first arrest and indictment for a felony in the case of the 2010 oil spill in the Gulf of Mexico.
The accused, a former engineer of the oil group BP, is suspected of destroying evidence. Two counts of obstruction of justice were brought against Kurt Mix, a resident of Katy, in the State of Texas.
An explosion on April 20, 2010, aboard the...
Apr 18th, 2012
The National Oil Company of Iran (NIOC) has denied reports that Tehran would have reduced its crude oil supplies to Greece and Spain, the agency ISNA reported, referring to Qamsari Mohsen, Director for International Affairs NIOC on on Wednesday.
“For now, we have not received any instructions relating to a reduction in oil exports to Greece and Spain,” said M.Qamsari.
The official also denied reports...
Apr 5th, 2012
On Thursday three explosions occurred in the Turkish part of the Kirkuk-Yumurtalik, local media reported citing eyewitnesses.
According to NTV, the explosions occurred around 3:00 am local time in the district of Idil in the province of Sirnak, near the border with Syria and Iraq. Fire crews from the company Botas were rushed to the scene to fight fires. Botas company refuses to comment on explosions.
No radical...
Mar 12th, 2012
Ecologists have discovered an oil slick extending for 300 meters along the Red Sea coast near the Egyptian town of El-Tor in the Sinai, reported Youm7 portal on Monday.
The spilled oil may affect the Ras Mohammed National Park, Marine Reserve which houses one of the finest coral ecosystems in the world. According to the site, the water could spread to the resort of Sharm el-Sheikh.
The portal quoted Adil Kassab,...
Mar 3rd, 2012
NEW ORLEANS – Oil giant BP has entered into an amicable settlement with more than 100,000 fishermen who lost their jobs, cleaning workers fell ill and other private victims of the 2010 oil spill in the Gulf of Mexico, the worst that have known the United States.
Friday night found this arrangement does not provide a ceiling for compensation for victims, but the firm BP has estimated it would owe about $ 7.8...
Mar 1st, 2012
Venezuela has provided 600,000 barrels of diesel to Syria, said the Venezuelan Oil Minister Rafael Ramirez in an interview with television channel Univision on Wednesday night.
“Syria is a blockaded country,” Ramirez said. “If it needs diesel and we can provide it, there’s no reason not to do it.”
Deliveries were made in late 2011-early 2012, he said.
He added that Damascus was a victim...
