After Iraq, an OPEC member, had announced its record crude production, Brent crude oil prices went down below $50. Iraq’s Oil Minister, Adel Abdel Mehdi,
Category: Oil
Exxon’s New Canada Terminal Readies for U.S. Shipments
Exxon Mobil Corporation has opened a new joint-venture oil-by-rail terminal in Canada considered to be the largest in the country. The terminal will start shipping
Oil Drops below $45 while OPEC Standing Firm on Output
The Organization for Petroleum Exporting Countries (OPEC) is unshakable in its decision not to cut oil production to prop up prices. The cartel still insists
U.S. Oil Production Predicted to Fall by End of 2015
U.S. oil production is expected to start slowing down by the end of this year if the global prices remain weak since new drilling is
Mexican Light Oil Heading for the U.S. East Coast
Mexican crude oil is on its way to the U.S. East Coast at the highest rate in more than ten years as more discounts help
Mexico in Desperate Effort to Revamp its Oil Sector
The Mexican government is increasingly getting under pressure to start offering more attractive incentives to foreign companies to invest their money in the country’s oil
Russia’s Oil Giant Rosneft Pays Off $7 billion of Debt
Russia’s major oil company, Rosneft, said that it had paid off $7 billion of its debt. The company’s loan repayment has partially helped ease tensions
Chinese Companies Decided Not to Increase Imports from Iraq
China’s energy companies have decided to keep the amount of oil that they buy from Iraq unchanged for the first time in almost ten years.
Oil-Rich U.S. States and Energy Firms to Face Slowdown due to Cheap Crude
Some of American major oil companies are beginning to show the first sign of slowdown in response to the plummeting crude prices as oil hits
Canada’s Oil Sands Start Losing Momentum
Canada’s oil sands halcyon days are expected to be over soon. Just like the American oil sector is getting nervous due to anticipated layoffs and