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MARKET TALK: Oil Prices To Rise Above $100/Bbl In 2011

Τετ, 22 Δεκεμβρίου 2010 - 16:39

Brent crude oil is poised to take its place in the financial market spotlight in the 2011-2013 period, with prices forecast to average $93.75 a barrel in 2011, $106 in 2012 and $115 in 2013, Prestige Economics says.

Iraq Oil Output +100,000 B/D To 2.5 Mln B/D - Oil Minister

Τετ, 22 Δεκεμβρίου 2010 - 16:39

Iraq's crude oil production increased by 100,000 barrels a day to 2.5 million barrels a day from Wednesday, the newly appointed oil minister said Wednesday.

Saudi Arabia 2011 Budget Based On $58 A Barrel Crude - Sources

Τετ, 22 Δεκεμβρίου 2010 - 16:38

Saudi Arabia, the Middle East's biggest economy, has based its record budget for next year on an average crude oil price of about $58 a barrel, people familiar with the matter said Wednesday.

Oil Reserves May Produce 40 mln Barrels

Τετ, 22 Δεκεμβρίου 2010 - 13:46

Greece’s unexplored oil deposits could cover 30 percent of the country’s annual energy needs over the next 30 years, according to a government document.

BP: Production From Azeri Chirag Platform Restarted Monday

Τρι, 21 Δεκεμβρίου 2010 - 20:14

BP PLC (BP) restarted production at its offshore Chirag platform in Azerbaijan Monday, a spokesman for the company told Dow Jones Newswires in an emailed statement Tuesday.

Gazprom, Naftogaz Sign MOU On Methane Production In Ukraine

Τρι, 21 Δεκεμβρίου 2010 - 20:14

Russian natural gas monopoly OAO Gazprom (GAZP.RS) and Ukrainian national energy company Naftogaz have signed a memorandum of understanding to jointly produce methane from coal in Ukraine, the Russian company said Tuesday.

French Fin Min: Areva Must Be In 'Conquest' Mode Internationally

Τρι, 21 Δεκεμβρίου 2010 - 20:13

One of nuclear engineering firm Areva SA's (CEI.FR) objectives is to be in "conquest" mode on the international stage, said French economics and finance minister Christine Lagarde Tuesday.

Obama Hails Iraq's Approval Of New Government

Τρι, 21 Δεκεμβρίου 2010 - 20:12

President Barack Obama on Tuesday praised Iraqi leaders for agreeing to form a new government after months of political turmoil, saying the move represents a "major step forward in advancing national unity."

China To Raise Fuel Prices Despite Inflation Worries

Τρι, 21 Δεκεμβρίου 2010 - 20:12

China will raise the gasoline price by 3.8% and raise diesel by 4% beginning Wednesday in the face of rising crude oil prices, despite persistent worries about inflation.

Halliburton Agrees To Pay $35M To Settle Nigeria Bribery Case

Τρι, 21 Δεκεμβρίου 2010 - 20:12

Halliburton Co. (HAL) said Tuesday it has agreed to pay $35 million to the Nigerian government to settle bribery allegations related to the construction and expansion of its Bonny Island natural gas liquefaction facility, in which its former subsidiary KBR Inc. (KBR) had a 25% stake.

Gazprom Cuts Output Forecast to 570-580 bcm by 2015

Τρι, 21 Δεκεμβρίου 2010 - 13:50

Russia's gas giant Gazprom has cut its gas output forecast for 2015 to 570-580 billion cubic meters per year due to worsening market conditions, the company said on Tuesday.

Russia, India Ready to Develop Nuclear Cooperation

Τρι, 21 Δεκεμβρίου 2010 - 13:50

Russia and India intend to develop cooperation in the nuclear sphere, the Russian president and Indian prime minister said in a joint statement on Tuesday.

Latvia, Gazprom Agree on Lower Price for Natural Gas

Τρι, 21 Δεκεμβρίου 2010 - 13:49

The Latvian gas company Latvijas Gaze signed an contract with Russia’s Gasprom for natural gas supplies in 2011, according to which the purchasing price of gas for this Baltic country will be 15 percent lower than this year.