Search Results
OPEC says crude supply not to blame for oil price
Saudi Arabia and other OPEC members said on Wednesday they are not to blame for near-record oil prices, pointing the finger at a global shortage of refinery capacity and international political tension.
The Organization of the Petroleum Exporting Countries is ready to pump more, but for now sees no need and has rebuffed calls from consumer [...]
Total company well operated on Nigeria
Oil rose above $65 a barrel on Monday after assailants broke into an oil well in Nigeria, reminding investors of the risk to supply from the world’s eighth largest exporter.
“Nigeria is still very much on top of the list in terms of risk,” said Olivier Jakob, oil analyst at Petromatrix. “The market is going to [...]
Industry praises drilling proposal
The Interior Department’s rollout Monday of a finalized proposal to open 48 million acres of off-limits federal waters for exploration and drilling drew praise from the oil and gas industry, though some said the move would barely tap vast undiscovered resources.
“Most U.S. offshore areas in the lower 48 states and some 80 percent of the [...]
Industry praises drilling proposal
The Interior Department’s rollout Monday of a finalized proposal to open 48 million acres of off-limits federal waters for exploration and drilling drew praise from the oil and gas industry, though some said the move would barely tap vast undiscovered resources.
“Most U.S. offshore areas in the lower 48 states and some 80 percent of the [...]
Goldman, Deutsche Bank Say Double Down on Commodities (Update1)
Anyone who followed the advice of Goldman Sachs Group Inc. last year and invested $10 million in the Goldman Sachs Commodity Index would have lost 15 percent, or $1.5 million.
Like so many of Wall Street’s best and brightest, Goldman, the biggest securities firm by market value, says it wasn’t wrong, just early, and to expect [...]
49 North Resource Fund Announces Merger Plans
49 North Resource Fund Limited Partnership and 49 North 2006 Resource Flow-Through Limited Partnership (the 2006 Fund) report that they plan to merge the two Funds in a reorganization transaction that is targeted to close in February of this year. All outstanding units of the unlisted 2006 Fund will be transferred to 49 North on [...]
UPDATE 5: Oil eases below $53, eyes OPEC
Oil eased below $53 a barrel on Monday as investors balanced mild weather in the United States with the prospect exporter group OPEC may lower supply further to boost prices.
Kuwait’s oil minister said on Monday the Organization of the Petroleum Exporting Countries may hold an emergency meeting after Feb. 1 should prices fall further. Oil [...]
CrossPoint Energy Company Announces Appointment of New Directors
CrossPoint Energy Company (OTC: CXPE – News), an oil and gas company focused on the acquisition, exploration, and development of oil and gas properties primarily in East and Southeast Texas today announced that its Board of Directors on December 13, 2006 approved the appointment of Messrs. J.W. Brown, Steven R. Shaw and Ross Welgehausen as [...]
Oil prices continue to fall
Qatar Oil Minister says OPEC has ‘no choice’ but to agree to cut production when it next meets in December.
Oil eased on Monday, struggling to recover from a 17-month low hit last week, as OPEC talk of a further supply cut reinforced doubts about the group’s existing reduction.
Traders and analysts said OPEC’s talk of a [...]
