Posts Tagged ‘opec’

Related tags: Oil, oilprice, iran, venezuela, tboonepickens, peakoil, politics

Nigeria May Push for Higher OPEC Oil Quota, NNPC Says

Tuesday, March 9th, 2010

March 9 (Bloomberg) — Nigeria may seek to increase its OPEC oil production quota if output remains free from militant disruption, an official from state-owned Nigeria National Petroleum Corp. said today.

Source: www.bloomberg.com

State ‘must take control of North Sea oil’

Monday, March 8th, 2010

Professor Peter Odell, adviser to Opec, says state authority would ensure energy companies work in the national interest Ministers must wrench back control of oil and gas production from the private sector if Britain is to maximise the value of the remaining reserves in the North Sea, a respected petroleum academic has warned. Peter Odell, a professor at Erasmus University in Rotterdam and an …

Source: www.guardian.co.uk

Libya says oil market oversupplied, no OPEC quota changes

Friday, March 5th, 2010

TRIPOLI, Mar 05, 2010 (AFP) - The global oil market is oversupplied and OPEC will not change production quotas when its members next meet in Vienna on March 17, the head of Libya’s National Oil Company said on Friday.

Source: www.zawya.com

Demand for OPEC Oil May Drop in 2010 on Weak Economy

Tuesday, March 2nd, 2010

March 2 (Bloomberg) — Demand for OPEC crude may drop by 100,000 barrels a day this year as stockpiles are higher than the five-year average and the global economy is weak, the United Arab Emirates oil minister said.

Source: www.bloomberg.com

OMV Falls Most in Three Months as Oil Production Forecast Cut

Thursday, February 25th, 2010

Feb. 25 (Bloomberg) — OMV AG fell the most in three months after central Europe’s biggest oil company slashed its 2010 oil production target 7 percent and fourth-quarter profit missed analyst estimates.

Source: www.bloomberg.com

OMV Slashes Oil Production Forecast as Profit Misses Estimates

Thursday, February 25th, 2010

Feb. 25 (Bloomberg) — OMV AG , central Europe’s biggest oil company, slashed its 2010 oil production target 7 percent as fourth-quarter profit missed analyst estimates.

Source: www.bloomberg.com

Nigeria’s Jonathan Must Fix Oil Investment, Security

Wednesday, February 24th, 2010

Feb. 24 (Bloomberg) — Nigeria’s acting president, Goodluck Jonathan , faces two challenges in keeping crude output from shrinking in Africa’s biggest oil producer: guns and cash.

Source: www.bloomberg.com

Nigeria’s Jonathan Must Fix Oil Industry Investment, Security

Wednesday, February 24th, 2010

Feb. 24 (Bloomberg) — Nigeria’s acting president, Goodluck Jonathan , faces two challenges in keeping crude output from shrinking in Africa’s biggest oil producer: guns and cash.

Source: www.bloomberg.com

FACTBOX-Bearish and bullish factors in the oil market

Tuesday, February 23rd, 2010

Feb 23 (Reuters) - Oil prices hit a six-week high above $80 a barrel this week.

Source: asia.news.yahoo.com

Non-Opec output decline restricts spare capacity

Monday, February 22nd, 2010

Spare capacity, the market term for difference in supply and demand of crude, has remained constrained despite recession and a massive reduction in oil demand in 2009, Francisco Blanch, Global Head of commodities research at Bank of America Merrill Lynch, said in his latest report.

Source: www.zawya.com