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: Energy
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
China Opens Up for Foreign Commodity Traders
China has introduced new regulation that allows international investors to trade in selected commodities, a step which marks another landmark on the way leading towards
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
U.S. Intensifies the Sale of its Light Crude Abroad
Washington has widened oil export cap and thus opened a new front in the battle for oil market share readying the global markets for as
India’s Overhaul of Gas Subsidy System to Begin in January
In January, the Indian government will start making subsidy payments directly into the bank accounts of the customers who purchase cooking gas from state-own companies.
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