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Utah, Colorado rival OPEC oil reserves, lure Chevron, Exxon, Shell
Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.
That’s not science fiction, according to Bloomberg News. Trapped in limestone up to 200 feet (61 meters) thick in the two Rocky Mountain states is enough so-called shale oil to [...]
World oil markets are well supplied and price volatility
The world oil markets are well supplied and price volatility is the result of a lack of refining capacity in the United States, not a shortage of crude, Qatari Oil Minister Abdullah al-Attiyah was reported as saying on Monday.
“Price volatility is the result of factors that are unrelated to crude supply, which is available in [...]
Crude Oil Trades Near Three-Week High on U.S. Demand Outlook
Crude oil traded near a three-week high in New York on speculation demand will increase as U.S. refiners make more gasoline to supply summer fuel needs.
An Energy Department report tomorrow will probably show U.S. oil stockpiles were unchanged last week as plants raised operating rates and increased gasoline stockpiles for a third week, according to [...]
Energy City Qatar sign with National Petroleum 65 million QR contract
Commenting on the news, Energy City Qatar CEO Hesham Al Emadi was delighted with the agreement: ‘Energy City Qatar is attracting petroleum service companies to our energy business cluster. However, we are especially delighted to have signed this contract with National Petroleum Service, a Qatari company, the biggest petroleum services company in the region. This [...]
Anadarko Qatar holds a 92.5 percent interest in Blocks 12 and 13 in Qatar.
Anadarko Petroleum Corp. has agreed to divest its interest in Anadarko Qatar to a subsidiary of Occidental Petroleum Corp. for $350 million.
Through Anadarko Qatar Energy Co. LLC and Anadarko Resources Co., Anadarko Qatar holds a 92.5 percent interest in Blocks 12 and 13 in Qatar.
OPEC does not have any plan to pump more oil, word of Libya, Qatar
OPEC, which supplies about two-fifths of the world’s oil, won’t heed calls from consumers to increase output for the summer driving season, officials from Libya and Qatar said.
“We are convinced that the market is not short of supply,” Qatari Energy Minister Abdullah Al-Attiyah told reporters in the Persian Gulf nation’s capital Doha today. Geopolitical risks [...]
Sphere Petroleum becomes 1st foreign-owned firm in Qatar
The Chief Executive Officer at Sphere Petroleum QSC, a subsidiary of Australian Sphere Investments Ltd., announced that the company has become the first wholly foreign-owned firm in Qatar, The Peninsula reported.
The company, which was founded in January 2007 with a capital of $27.5 million, has benefited from a new foreign investment law approved by the [...]
OGA 2007 To Boost Malaysian Oil And Gas Industry
The local oil and gas exploration and production industry is expected to receive a boost from the 11th Asian Oil, Gas and Petrochemical Engineering Exhibition (OGA) 2007 which will held here from June 13 to 15.
The event is expected to draw more than 800 companies from over 50 countries, including the United States, the United [...]
High oil prices caused by geopolitical, not supply concerns: OPEC
High oil prices are being caused by geopolitical tensions and not by a lack of supply, OPEC ministers said on Thursday.
“This price is not related to demand and supply at all. It is only related to geopolitics,” Qatari Energy Minister Abdullah bin Hamad al-Attiyah said on the sidelines of an oil industry conference.
His comments were [...]
