Subject to the new countries to stimulate economic recovery, the current global petrochemical industry more than a year ago and has been much of a change in Outlook.The prospect of the petrochemical industry in Brazil are still strong, he continued.Brazil a consultant at the recently held in Mexico City for the 29th annual meeting of the petrochemical industry in Latin America (23rd annual) said that Brazil, China and India are leading down the global economy.
It is learnt that the second quarter of the demand for petrochemical products in Brazil with a quarter of 1.9%, be the first in a global financial crisis recovery.The next few years Brazil petrochemical products will remain strong demand growth situation, because the country will host the World Cup in 2014 year, two years after the 2016 Olympic Games will be held again.
Nov. 22, 2009
Brazil said the Tupi oil reserves of up to 8 billion barrels
Brazil's state oil company said today, after the Tupi oil and gas fields discovered on estimates of reserves, the oil and natural gas reserves at about 5 billion -8 billion barrels of oil equivalent. Tupi oil and gas fields in the Americas region since the 70s of last century since the discovery of the largest oil and gas fields. The oil and gas fields of storage depth of approximately 2100 meters.
Tupi oil and gas field belong to BM-S-11 exploration areas, by the Brazilian National Petroleum holds 65%, British Gas Group, holding 25 percent, Portugal, Galp Energy Group holding 10%.
Nov. 14, 2009
Tupi oil and gas field belong to BM-S-11 exploration areas, by the Brazilian National Petroleum holds 65%, British Gas Group, holding 25 percent, Portugal, Galp Energy Group holding 10%.
Nov. 14, 2009
Saudi Aramco: global oil demand next year by 1.5 million barrels per day
According to media reports in London November 12, Saudi Arabia, the state-owned oil giant Saudi Arabian Oil Company (Saudi Aramco Company) chief executive officer Khalid Salih France a few days ago, said in an interview, due to the global economic recovery, global oil demand Starting in 2010, may be growing from one million to 1.5 million barrels. However, the law Saleh added that there is no need for Saudi Arabia to increase oil production capacity.
France Salih predicted increase in global oil demand next year, the number far exceeds the Petroleum Exporting Countries (OPEC) has recently made global oil demand next year by 750,000 barrels a day forecast, but next year, the International Energy Agency recently made the world's oil demand will increase 1.42 million barrels a day forecast in line.
Nov. 13, 2009
France Salih predicted increase in global oil demand next year, the number far exceeds the Petroleum Exporting Countries (OPEC) has recently made global oil demand next year by 750,000 barrels a day forecast, but next year, the International Energy Agency recently made the world's oil demand will increase 1.42 million barrels a day forecast in line.
Nov. 13, 2009
IEA cuts 2030 global oil demand forecast
November 10 Paris news, because of the economic crisis cut oil consumption in developed countries, and environmental policies to encourage the use of alternative energy sources, the International Energy Agency (IEA) cut its global oil demand for long-term projections.
The International Energy Agency in its annual World Energy Outlook report says that world oil demand in 2003, before the year is expected to increase by 1%, from 85 million barrels in 2008 to 1.05 million barrels, but that figure was lower than last year, to make Global Day of 2030 required 1.06 million barrels of oil estimates.
The Paris-based International Energy Agency in its latest annual World Energy Outlook report says the global financial crisis and the ensuing economic downturn on prospects for the energy market has brought a significant impact on the world's total energy demand has been with the economic contraction The substantially reduced.
Nov. 11, 2009
The International Energy Agency in its annual World Energy Outlook report says that world oil demand in 2003, before the year is expected to increase by 1%, from 85 million barrels in 2008 to 1.05 million barrels, but that figure was lower than last year, to make Global Day of 2030 required 1.06 million barrels of oil estimates.
The Paris-based International Energy Agency in its latest annual World Energy Outlook report says the global financial crisis and the ensuing economic downturn on prospects for the energy market has brought a significant impact on the world's total energy demand has been with the economic contraction The substantially reduced.
Nov. 11, 2009
Saudi oil in the next 10 years will be 4 trillion U.S. dollars of income
According to Arab media reports in Riyadh November 7, Deutsche Bank recently released an analysis report that, in accordance with the current oil prices in 2011 forecast of 85 U.S. dollars a barrel, and oil prices in the next 10 years, an average annual increase 5% and appropriate to ensure continued Nissan 10 million barrels of oil, Saudi Arabia's oil in the next 10 years their economy will be 4 trillion in revenue.
Reported that Saudi Arabia is the world's leading oil-exporting countries, the country has accounted for more than 20% of the world's proven oil reserves and large quantities of natural gas reserves. The report said: "If according to Deutsche Bank in 2011 made by 85 U.S. dollars per barrel oil price forecasts, we estimate that the increase in oil prices in 2011 on the Saudi economy will be bringing an additional 60 billion U.S. dollars in revenue."
Reported that the next 5 to 10 years of strong oil prices will allow the Saudi government to continue its diversification efforts and to promote non-oil economy. In Saudi Arabia, such as power generation, telecommunications, gas and petrochemical industries, as in the next 10 years will benefit from the rising oil prices benefit, which will also help to increase employment opportunities.
Nov. 9, 2009
Reported that Saudi Arabia is the world's leading oil-exporting countries, the country has accounted for more than 20% of the world's proven oil reserves and large quantities of natural gas reserves. The report said: "If according to Deutsche Bank in 2011 made by 85 U.S. dollars per barrel oil price forecasts, we estimate that the increase in oil prices in 2011 on the Saudi economy will be bringing an additional 60 billion U.S. dollars in revenue."
Reported that the next 5 to 10 years of strong oil prices will allow the Saudi government to continue its diversification efforts and to promote non-oil economy. In Saudi Arabia, such as power generation, telecommunications, gas and petrochemical industries, as in the next 10 years will benefit from the rising oil prices benefit, which will also help to increase employment opportunities.
Nov. 9, 2009
ASCI oil companies interested in using the price of crude oil as an export base
Argus's head of U.S. operations, said Thursday Euan Craik, Latin America and the Middle East, major oil companies have stated their positions, said there is "strong interest" to switch to Argus of the US. Sour Crude Index (ASCI) index, as its exports of crude oil price benchmarks. Earlier, Saudi Arabia has decided to use the index.
Craik refused to disclose the country is considering making changes name, but he described that (their) interest is "unprecedented." "It feels like an upheaval. From our experience point of view, as it is an unprecedented event." Craik said in a telephone interview.
Last week, Saudi Arabia to give up the West Texas Intermediate crude oil (WTI) crude oil price as the price of its exported to the U.S. benchmark WTI U.S. Gulf of Mexico area due to the market environment increasingly out of touch people feel frustrated. Saudi Arabia to switch to English Argus index Argus company is a major success, the company for the physical energy market price assessment of the competitors, including the McGraw-Hill's cause of Platts.
Nov. 7, 2009
Craik refused to disclose the country is considering making changes name, but he described that (their) interest is "unprecedented." "It feels like an upheaval. From our experience point of view, as it is an unprecedented event." Craik said in a telephone interview.
Last week, Saudi Arabia to give up the West Texas Intermediate crude oil (WTI) crude oil price as the price of its exported to the U.S. benchmark WTI U.S. Gulf of Mexico area due to the market environment increasingly out of touch people feel frustrated. Saudi Arabia to switch to English Argus index Argus company is a major success, the company for the physical energy market price assessment of the competitors, including the McGraw-Hill's cause of Platts.
Nov. 7, 2009
Asia-Pacific region by 2030 in the energy sector need to invest 8 trillion U.S. dollars
The Asian Development Bank (ADB) on November 5, 2009 released a report that the Asia-Pacific region from 2005 to 2030 in order to enhance and expand the energy system, we must invest in 7 to 9.7 trillion dollars, an average of 8 trillion dollars, in order to meet rapidly growing demand for energy. Asia-Pacific region's energy projections indicate that between 2005 and 2030, energy demand in the region the average annual growth rate of 2.4%, higher than the world average of 1.5%.
Report that the Asia-Pacific region by 2030, nearly 80% of the energy demand will have to be from fossil fuels: coal, oil and natural gas to meet, which will promote the growth of carbon dioxide emissions. Net imports of oil is expected to significantly increase in 2030 net import levels in 2005, turned almost doubled. The report, issued jointly by the ADB and the Asia-Pacific Economic Cooperation.
Energy Statistics report found that the Asia-Pacific region in 2006 the world's total consumption of primary energy supply to 34%, but the per capita generation capacity of 1,800 kWh, still higher than the world average of 2,870 kWh less 37%.
Nov. 6, 2009
Report that the Asia-Pacific region by 2030, nearly 80% of the energy demand will have to be from fossil fuels: coal, oil and natural gas to meet, which will promote the growth of carbon dioxide emissions. Net imports of oil is expected to significantly increase in 2030 net import levels in 2005, turned almost doubled. The report, issued jointly by the ADB and the Asia-Pacific Economic Cooperation.
Energy Statistics report found that the Asia-Pacific region in 2006 the world's total consumption of primary energy supply to 34%, but the per capita generation capacity of 1,800 kWh, still higher than the world average of 2,870 kWh less 37%.
Nov. 6, 2009
Saudi Arabia increased by 12 monthly export price of U.S. light crude oil
According to media reports in Tokyo November 2, the world's largest oil exporter Saudi Arabia, the state-owned oil giant Saudi Arabian Oil Company (Saudi Aramco Company) November 1, said the company has its customers in December benchmark crude oil exported to the U.S. Saudi Arabia light crude's official selling price increased 0.85 U.S. dollars per barrel. At the same time, Saudi Aramco company also exports its December benchmark for Asian consumers of crude oil Saudi light crude's official selling price increased 0.35 U.S. dollars per barrel.
Nov. 3, 2009
Nov. 3, 2009
Oil prices break through 100 U.S. dollars next year, may again
October 6 New York news, the U.S. investment bank Merrill Lynch & Co. October 5 said that due to increased demand in emerging markets and "loose" monetary policy has led to depreciation of the dollar, oil prices are likely to break again in 2010, a large 100 U.S. dollars off.
Merrill Lynch & Co. led to Francis Cobb branch analysis of the experts writing in the Merrill Lynch Global Energy Weekly, said that next year the global economy will grow 4.2%, while the world's spare oil production capacity can only meet the current needs of 5%. Therefore, the price of oil in the 4th quarter of next year are likely to rise to Merrill Lynch & Co. had predicted the level of 82 U.S. dollars a barrel.
Reported that the absence of reducing global oil demand or supply of strong policy action in an unexpected increase in the OECD member countries continue to implement a very loose monetary policy may eventually bring oil prices pushed up again in 2011 to more than 100 U.S. dollars a barrel.
Oct. 11, 2009
Merrill Lynch & Co. led to Francis Cobb branch analysis of the experts writing in the Merrill Lynch Global Energy Weekly, said that next year the global economy will grow 4.2%, while the world's spare oil production capacity can only meet the current needs of 5%. Therefore, the price of oil in the 4th quarter of next year are likely to rise to Merrill Lynch & Co. had predicted the level of 82 U.S. dollars a barrel.
Reported that the absence of reducing global oil demand or supply of strong policy action in an unexpected increase in the OECD member countries continue to implement a very loose monetary policy may eventually bring oil prices pushed up again in 2011 to more than 100 U.S. dollars a barrel.
Oct. 11, 2009
Kazakhstan's oil export capacity to consider expanding
September 25 News, Azerbaijan and Kazakhstan, Kazakhstan is seeking to expand the capacity of crude oil to the Black Sea, in order to meet the country's future oil production growth. According to the Azerbaijani state oil company SOCAR president Rovnag Abdullayev said that Kazakhstan and Azerbaijan will assess the existing pipeline Baku-Supsa oil pipeline, while the assessment of new oil pipeline linking the Black Sea.
According to government statistics, in 2008 Kazakhstan produced 70.6 million tons of oil and gas condensate, or 1.4 million barrels / day, an increase of 4.8%. By 2015 annual production will be more than 100 million tons, or 2 million barrels / day. At present, Kazakhstan is seeking to diversify export routes. Kazakhstan and Azerbaijan will be the future of a major transit point for oil exports.
Sep. 28, 2009
According to government statistics, in 2008 Kazakhstan produced 70.6 million tons of oil and gas condensate, or 1.4 million barrels / day, an increase of 4.8%. By 2015 annual production will be more than 100 million tons, or 2 million barrels / day. At present, Kazakhstan is seeking to diversify export routes. Kazakhstan and Azerbaijan will be the future of a major transit point for oil exports.
Sep. 28, 2009
BP: the current oil surplus production capacity can not make oil prices continue to rise
Media reporting from London, Europe's No. 2 oil company British Petroleum (BP) chief economist Christopher Ruhr 9 Yue said 21 of Petroleum Exporting Countries (OPEC) to control the oil market has been from non-OPEC oil-producing countries a large number of oil production weakened.
Ruhr Economic Research Institute in the United Kingdom at a seminar said that the oil market, the surplus oil production capacity can not make oil prices continue to rise. He said that OPEC made late last year from January 1 this year, from 4.2 million cut in oil production on the decision to stabilize oil prices, but the global economic downturn also reduce the demand for oil and further expand consumption and spare capacity of the the gap between.
He pointed out that OPEC can not be successfully controlled once the oil prices, there may be a substantial decline, which means that time may be difficult to maintain OPEC production quotas. He predicted oil prices may be stable for 2 years.
Sep. 23, 2009
Ruhr Economic Research Institute in the United Kingdom at a seminar said that the oil market, the surplus oil production capacity can not make oil prices continue to rise. He said that OPEC made late last year from January 1 this year, from 4.2 million cut in oil production on the decision to stabilize oil prices, but the global economic downturn also reduce the demand for oil and further expand consumption and spare capacity of the the gap between.
He pointed out that OPEC can not be successfully controlled once the oil prices, there may be a substantial decline, which means that time may be difficult to maintain OPEC production quotas. He predicted oil prices may be stable for 2 years.
Sep. 23, 2009
Kuwait: OPEC cuts next year or the
Kuwait's oil officials have recently said that the Petroleum Exporting Countries (OPEC) could cut crude oil production next year in response to market demand decline. He said that OPEC's Monthly Oil Market Report released the latest forecast, the international market next year, the average daily demand for OPEC crude than the reduction of 0.46 million barrels a day this year, which means that the organization might cut production to stabilize oil prices.
He said that OPEC's production cuts will be a challenge, because all member states look forward to as the global economic recovery next year, will increase crude oil production. OPEC's ministerial meeting on the 9th of this month decided to maintain the current crude oil production unchanged. The organization released 15 monthly report predicted that in 2010 the international market demand for OPEC oil will be 28.06 million barrels per day.
Sep. 20, 2009
He said that OPEC's production cuts will be a challenge, because all member states look forward to as the global economic recovery next year, will increase crude oil production. OPEC's ministerial meeting on the 9th of this month decided to maintain the current crude oil production unchanged. The organization released 15 monthly report predicted that in 2010 the international market demand for OPEC oil will be 28.06 million barrels per day.
Sep. 20, 2009
Russia hopes to foreign companies to help develop offshore oil field
MOSCOW, Russia's Deputy Minister of Natural Resources September 15, said Russia wants to foreign companies to help develop its huge offshore oil and gas reserves, because the Russian company could not complete the development of its own operations. The vice minister in remarks delivered before July, the Russian Natural Resources Minister said that Russia should consider amending the prohibition of foreign companies to participate in developing oil and gas reserves of law.
As oil prices since 2002, rose seven-fold, the Russian enact laws to prohibit foreign companies to participate in developing their own natural resources. Foreign companies are being forced to leave the implementation of projects. In 2006, Shell's Sakhalin -2 project give up control. In 2008, British Petroleum was forced to agree to Russia's Gazprom to sell gas field Kovykta control. As the global economic downturn and the drop in oil prices, Russian companies have to reduce this year's investment plans. Last year, foreign direct investment in Russia fell by 2.8% this year is expected to be further reduced.
Sep. 17, 2009
As oil prices since 2002, rose seven-fold, the Russian enact laws to prohibit foreign companies to participate in developing their own natural resources. Foreign companies are being forced to leave the implementation of projects. In 2006, Shell's Sakhalin -2 project give up control. In 2008, British Petroleum was forced to agree to Russia's Gazprom to sell gas field Kovykta control. As the global economic downturn and the drop in oil prices, Russian companies have to reduce this year's investment plans. Last year, foreign direct investment in Russia fell by 2.8% this year is expected to be further reduced.
Sep. 17, 2009
The U.S. plans to 31.5 billion U.S. dollars oil and gas industry tax collection
Recently, the Obama administration plans to the collection of oil and gas company 31.5 billion U.S. dollars in taxes, said the U.S. too much attention to oil and gas, leaving other industries pay the price. The U.S. Treasury Department's chief economist, said in testimony to the Senate, the Group of Experts, the current subsidies lead to over-investment in oil and gas industry. This is by far the most clearly related to the federal government want an end to domestic oil and gas production support the bill.
Alan Krueger of the expert group said the current U.S. oil and gas industry subsidies to encourage over-production of oil and gas, and accounts for the resources of other industries, but also with the Obama administration to reduce greenhouse gas emissions, develop new clean energy economy goals do not match.
American Petroleum Institute, president of Devon Energy Corp. Chief Executive Officer Larry Nichols said the expert group, which is very ridiculous, the current variety of energy research have shown the need to increase domestic energy sources, rather than oil and natural gas is the most important source of energy, so the fight against oil and natural gas production is utterly unjustifiable.
Sep. 14, 2009
Alan Krueger of the expert group said the current U.S. oil and gas industry subsidies to encourage over-production of oil and gas, and accounts for the resources of other industries, but also with the Obama administration to reduce greenhouse gas emissions, develop new clean energy economy goals do not match.
American Petroleum Institute, president of Devon Energy Corp. Chief Executive Officer Larry Nichols said the expert group, which is very ridiculous, the current variety of energy research have shown the need to increase domestic energy sources, rather than oil and natural gas is the most important source of energy, so the fight against oil and natural gas production is utterly unjustifiable.
Sep. 14, 2009
Russian oil production in Saudi Arabia more than a cyclical
September 7 news of Petroleum Exporting Countries (OPEC) recently released the latest statistics show that in June more than Saudi Arabia, Russia, oil production has become the world's largest "black gold" producer.
OPEC's latest statistics reflect such a phenomenon, as the world's largest oil producer, Saudi Arabia since 2002, from time to time increase or reduce oil production, leading to Russia's oil production periodically surpassing Saudi Arabia.
According to OPEC statistics, Russia in June this year, an average of 9.236 million barrels of daily output of oil, more than Saudi Arabia, oil production 46000 barrels per month.
Sep. 9, 2009
OPEC's latest statistics reflect such a phenomenon, as the world's largest oil producer, Saudi Arabia since 2002, from time to time increase or reduce oil production, leading to Russia's oil production periodically surpassing Saudi Arabia.
According to OPEC statistics, Russia in June this year, an average of 9.236 million barrels of daily output of oil, more than Saudi Arabia, oil production 46000 barrels per month.
Sep. 9, 2009
China this year, the 4th raise retail prices of fuels
September 1 sources in Beijing, China's largest oil company PetroChina Company Limited (PetroChina), a regional sales officer, told reporters today that China with effect from September 2 to gasoline and diesel retail prices per ton increased 300 RMB, which will be the 4th this year, raising China's fuel retail prices.
The retail prices of fuels will increase the market surprised many people, because they had been looking for the Chinese government's National Day holidays will not increase fuel retail prices. The increase in the fuel retail prices are also shows that the Chinese Government to seriously adhere to market-based followed by global oil prices, the fuel pricing system.
Sep. 2, 2009
The retail prices of fuels will increase the market surprised many people, because they had been looking for the Chinese government's National Day holidays will not increase fuel retail prices. The increase in the fuel retail prices are also shows that the Chinese Government to seriously adhere to market-based followed by global oil prices, the fuel pricing system.
Sep. 2, 2009
BP will develop in the second half in Vietnam and Norway's oil
August 27 message, bp BP plans to start the second half in Vietnam and Norway oil drilling project, its business throughout Europe, Asia and Africa. The London-based company reported a BP oil prices due to lower first-half profit fell 62%. Net profit fell to 26.9 million U.S. dollars, or 26.2 cents per share, compared to 71.2 million U.S. dollars, or 70.4 cents, while sales fell 45% to 213.9 million U.S. dollars.
Bp are investing in Indonesia and Vietnam, to the medium-term increase production about 7.5 million barrels. Output growth of 4% to the first half to reach 39.7 thousand barrels of oil equivalent, a year earlier at 3.8 million barrels of oil equivalent. To London time, 8:51, Bp oil prices fell 4.4% to 1,253 pence. This year, shares have risen 56%.
Simon Lockett, CEO and chief financial officer Tony Durrant said in a joint telephone interview that the company is considering the acquisition, Premier Lockett commented in a statement that "prompt action this year to use high-quality acquisition opportunities."
May Bp Oil Company completed the acquisition of the British Oilexco North Sea Limited, from Delek Energy Systems Ltd. of Vietnam maritime projects receive a 25% interest, and said there is sufficient cash to finance the development and any further purchases. Unexpended by the end of June the company's cash resources and bank loans amounting to approximately 50 billion U.S. dollars, the first half of this year, operating cash flow fell from 191.1 million U.S. dollars to 113.4 million U.S. dollars.
Aug. 29, 2009
Bp are investing in Indonesia and Vietnam, to the medium-term increase production about 7.5 million barrels. Output growth of 4% to the first half to reach 39.7 thousand barrels of oil equivalent, a year earlier at 3.8 million barrels of oil equivalent. To London time, 8:51, Bp oil prices fell 4.4% to 1,253 pence. This year, shares have risen 56%.
Simon Lockett, CEO and chief financial officer Tony Durrant said in a joint telephone interview that the company is considering the acquisition, Premier Lockett commented in a statement that "prompt action this year to use high-quality acquisition opportunities."
May Bp Oil Company completed the acquisition of the British Oilexco North Sea Limited, from Delek Energy Systems Ltd. of Vietnam maritime projects receive a 25% interest, and said there is sufficient cash to finance the development and any further purchases. Unexpended by the end of June the company's cash resources and bank loans amounting to approximately 50 billion U.S. dollars, the first half of this year, operating cash flow fell from 191.1 million U.S. dollars to 113.4 million U.S. dollars.
Aug. 29, 2009
API: U.S. oil refinery production in 2030 will be reduced by 25%
WASHINGTON, August 24, the American Petroleum Institute (API) 8 Yue 24 in here that if climate change legislation has been approved by the Senate become law, then, the United States of petroleum products refinery production in 2030 will be reduced by a quarter of the 1, making the U.S. even more dependent on fuel imports.
Headquartered in Washington, DC Its members include the largest U.S. oil company Exxon Mobil and the No. 3 U.S. oil company ConocoPhillips of the American Petroleum Institute August 24 issued a research report said that the U.S. climate change legislation in June this year, won the approval of the House of Representatives, while the United States Senate has yet to vote, which was aimed at the United States by 2050 greenhouse gas emissions from 2005 levels by 80% of the measures.
American Petroleum Institute said in the report, the cost of the project will be to prevent oil refineries at full capacity. API report concludes that, in 2030, the U.S. refinery production is likely to cut 4.4 million barrels per day or 25%, while investment in refineries may reduce the 90 billion U.S. dollars.
Aug. 26, 2009
Headquartered in Washington, DC Its members include the largest U.S. oil company Exxon Mobil and the No. 3 U.S. oil company ConocoPhillips of the American Petroleum Institute August 24 issued a research report said that the U.S. climate change legislation in June this year, won the approval of the House of Representatives, while the United States Senate has yet to vote, which was aimed at the United States by 2050 greenhouse gas emissions from 2005 levels by 80% of the measures.
American Petroleum Institute said in the report, the cost of the project will be to prevent oil refineries at full capacity. API report concludes that, in 2030, the U.S. refinery production is likely to cut 4.4 million barrels per day or 25%, while investment in refineries may reduce the 90 billion U.S. dollars.
Aug. 26, 2009
China will by 2020 to build national oil reserves second and third phase of the project
According to China news agency reported on August 20, from China National Energy Board was informed that China's national oil reserves a completion of the initial protection of oil security has so far completed a huge leap. By 2020, China will be building the second phase of the national oil reserves, the third phase of the project.
Before 2006, China's government oil reserves, especially oil reserves are empty. With China's sustained and rapid economic development and social progress, the increasing oil consumption, oil imports increased every year. The future, subject to restrictions on oil resources, China will further raise the degree of dependence on foreign oil continuing to increase the risk of supply disruptions, the security situation is not optimistic, the establishment of China's national oil reserve system delay.
According to the National Energy Board, the Zhenhai base was completed in September 2006 and entered the stage of trial operation, was the first Chinese built and put into a national oil reserve base. Huangdao, Dalian, and Zhoushan bases in December 2007, November 2008 and completed in December 2008 and put into operation. To the end of 2008, China's national oil reserve bases in a project has been completed in four. In the National Development and Reform Commission, Ministry of Finance, the National Energy Board under the organization has completed the national reserves of oil reserves tasks.
By 2020, China will be building the second phase of the national oil reserves, the third phase of the project, forming the equivalent of 100 days of net imports of oil reserves total size of the oil deal with China to further enhance the ability of the risk of interruption, in order to protect the oil supply security, the stability of the oil market, and promote smooth operation of the national economy to play an active role.
Aug. 23, 2009
Before 2006, China's government oil reserves, especially oil reserves are empty. With China's sustained and rapid economic development and social progress, the increasing oil consumption, oil imports increased every year. The future, subject to restrictions on oil resources, China will further raise the degree of dependence on foreign oil continuing to increase the risk of supply disruptions, the security situation is not optimistic, the establishment of China's national oil reserve system delay.
According to the National Energy Board, the Zhenhai base was completed in September 2006 and entered the stage of trial operation, was the first Chinese built and put into a national oil reserve base. Huangdao, Dalian, and Zhoushan bases in December 2007, November 2008 and completed in December 2008 and put into operation. To the end of 2008, China's national oil reserve bases in a project has been completed in four. In the National Development and Reform Commission, Ministry of Finance, the National Energy Board under the organization has completed the national reserves of oil reserves tasks.
By 2020, China will be building the second phase of the national oil reserves, the third phase of the project, forming the equivalent of 100 days of net imports of oil reserves total size of the oil deal with China to further enhance the ability of the risk of interruption, in order to protect the oil supply security, the stability of the oil market, and promote smooth operation of the national economy to play an active role.
Aug. 23, 2009
Kuwait: OPEC oil supply is not necessary to change the target
According to media in Kuwait City on August 19 reported that the Kuwaiti Oil Minister Sheikh Ahmad Abdullah Al-Sabah said here today that the current oil prices are at a satisfactory price, therefore, Kuwait that the Organization of Petroleum Exporting Countries (OPEC), there is no need for the September 9 meeting to change the oil supply.
U.S. crude oil futures at today's transactions be maintained at above 69 U.S. dollars a barrel, the OPEC oil prices and invest in the future energy supply for the identified objective of 75 U.S. dollars a barrel level. Reuters quoted Al-Sabah in Kuwait Parliament on the content of the speech reported that there is no need for OPEC to increase or reduce oil production. Kuwait believes that the current OPEC production quota is appropriate.
Oil supplies accounted for more than one third of the world's total supply of OPEC will meet on September 9 to discuss supply policy. Al-Sabah said last week that if oil prices remained stable in September OPEC meeting to cut production would not be necessary.
Aug. 20, 2009
U.S. crude oil futures at today's transactions be maintained at above 69 U.S. dollars a barrel, the OPEC oil prices and invest in the future energy supply for the identified objective of 75 U.S. dollars a barrel level. Reuters quoted Al-Sabah in Kuwait Parliament on the content of the speech reported that there is no need for OPEC to increase or reduce oil production. Kuwait believes that the current OPEC production quota is appropriate.
Oil supplies accounted for more than one third of the world's total supply of OPEC will meet on September 9 to discuss supply policy. Al-Sabah said last week that if oil prices remained stable in September OPEC meeting to cut production would not be necessary.
Aug. 20, 2009
Libya: The world oil demand so far no signs of recovery
Tripoli August 15 news, Organization of Petroleum Exporting Countries (OPEC) members of senior officials of the Libyan oil sector on August 14 said here today that world oil demand so far no signs of recovery in the current market is still over-supply. Libyan Oil Minister and Chairman of the Libyan National Oil Company Shukri Ghanem said: "Let us look at the market supply and demand figures, the current market is still too much supply."
Ghanem said that the world demand for oil has not yet any signs of recovery. Ghanem said OPEC should cut production targets to increase the percentage of completion. OPEC production is being done and the proportion of the target from 80 percent earlier this year dropped to about 70%. OPEC is to predict in the September 9 meeting to cut oil production is still too early.
Institutions of the International Energy Agency in Paris on August 12 have claimed that the department recently increased this year and next year's world oil demand forecast, the International Energy Agency expects global oil demand this year will fall 2.7%.
Aug. 17, 2009
Ghanem said that the world demand for oil has not yet any signs of recovery. Ghanem said OPEC should cut production targets to increase the percentage of completion. OPEC production is being done and the proportion of the target from 80 percent earlier this year dropped to about 70%. OPEC is to predict in the September 9 meeting to cut oil production is still too early.
Institutions of the International Energy Agency in Paris on August 12 have claimed that the department recently increased this year and next year's world oil demand forecast, the International Energy Agency expects global oil demand this year will fall 2.7%.
Aug. 17, 2009
Steven Chu: alternative energy sources will make the United States from dependence on oil imports
August 11 Las Vegas news, the U.S. energy secretary said Monday Chu, through the use of a new generation of bio-fuel vehicles and electric vehicles, the United States may no longer completely dependent on imported oil. However, he declined to predict when the United States can no longer completely dependent on imported oil. He is a new generation of bio-fuel vehicles and electric vehicles optimism.
Last week, the Department of Energy to develop a car battery to the 2.4 billion U.S. dollars to provide financial assistance. Chu said he hoped to be able to in the next 3-4 years, the United States to begin from fossil fuels to electric vehicles, changing vehicle. He also said that biofuel production will use agricultural waste and dedicated energy crops, food and therefore will not form a contradiction between the fuel, thereby eliminating the development of bio-fuels will lead to concerns about rising food prices.
Aug. 12, 2009
Last week, the Department of Energy to develop a car battery to the 2.4 billion U.S. dollars to provide financial assistance. Chu said he hoped to be able to in the next 3-4 years, the United States to begin from fossil fuels to electric vehicles, changing vehicle. He also said that biofuel production will use agricultural waste and dedicated energy crops, food and therefore will not form a contradiction between the fuel, thereby eliminating the development of bio-fuels will lead to concerns about rising food prices.
Aug. 12, 2009
Brazil, the U.S. to provide 10 billion USD to develop oil reserves
Rio de Janeiro, August 8 news, the Brazilian government planning minister Paul Bernardo on August 7, said here that the United States, Brazil is prepared to provide 10 billion U.S. dollars of loans for the development of Brazil's huge oil and gas reserves at sea.
The Government of the United States national security adviser Obama James Jones, during his visit to Brazil this week with Brazilian government officials to discuss the loan of. He said that the U.S. Export-Import Bank and the Brazilian national oil company has been on the loan was signed a cooperation letter of intent.
The Government of the United States and China Development Bank provided loans for the same number of loans for the exploration of Brazil is estimated at 80 billion barrels of crude oil reserves of the lower strata of the salt field. In accordance with China Development Bank signed the loan agreement, Brazil will use the oil to repay the loan.
Petrobras plans to invest in 2013 before the 29 billion U.S. dollars to develop a huge oil field salt the lower grades of oil reserves.
Estimated 50-80 billion barrels of oil reserves in the Americas tupi field over the past 30 years was the largest oil and gas discovery. In addition, the Brazilian national oil company so far in the lower strata of salt also found Spodiopogon other fields.
Aug. 10, 2009
The Government of the United States national security adviser Obama James Jones, during his visit to Brazil this week with Brazilian government officials to discuss the loan of. He said that the U.S. Export-Import Bank and the Brazilian national oil company has been on the loan was signed a cooperation letter of intent.
The Government of the United States and China Development Bank provided loans for the same number of loans for the exploration of Brazil is estimated at 80 billion barrels of crude oil reserves of the lower strata of the salt field. In accordance with China Development Bank signed the loan agreement, Brazil will use the oil to repay the loan.
Petrobras plans to invest in 2013 before the 29 billion U.S. dollars to develop a huge oil field salt the lower grades of oil reserves.
Estimated 50-80 billion barrels of oil reserves in the Americas tupi field over the past 30 years was the largest oil and gas discovery. In addition, the Brazilian national oil company so far in the lower strata of salt also found Spodiopogon other fields.
Aug. 10, 2009
Cabinet approved the formation of the Iraqi National Oil Company
August 4 in Baghdad, Iraqi government spokesman said on August 3, said here that the Iraqi government approved a cabinet designed to set up a 341 million U.S. dollars funding the Iraqi National Oil Company of the draft law. In a statement that the approval of the draft law will ensure that Iraq's oil and gas fields of oil and gas exploration and development will be the largest economic profit.
The newly formed Iraqi National Oil Company will be the Government of Iraq under the supervision of the operation of the cabinet, the company will be responsible for managing the Iraqi Federal Oil and Gas Council, the Board of Trustees of the distribution of oil and gas field development and operation.
Iraq National Oil Company will be produced for the export of oil transferred to the Iraqi oil marketing companies as well as the not for export of oil and natural gas delivered to the Iraqi Ministry of Oil to determine the domestic consumption sector.
Aug. 6, 2009
The newly formed Iraqi National Oil Company will be the Government of Iraq under the supervision of the operation of the cabinet, the company will be responsible for managing the Iraqi Federal Oil and Gas Council, the Board of Trustees of the distribution of oil and gas field development and operation.
Iraq National Oil Company will be produced for the export of oil transferred to the Iraqi oil marketing companies as well as the not for export of oil and natural gas delivered to the Iraqi Ministry of Oil to determine the domestic consumption sector.
Aug. 6, 2009
Middle East countries have lowered the official selling price of crude oil
News July 30, by the recent volatility in international oil prices impact, it is estimated that the supply contract in September of the official price of Oman crude oil fell 4.43 U.S. dollars last month to 65.05 U.S. dollars a barrel. The official price is the United Arab Emirates, Dubai Mercantile Exchange, trading the Oman Crude Oil Futures Contract in July the average daily settlement price. Oman sour crude supply contract cargo will use the official price. Oman in the quality of high-sulfur crude oil exported to Asia, the main oil refineries, the crude oil is the most common transactions in the Middle East crude oil spot.
Dubai government said Thursday, in October had confirmed that their primary official price of crude oil per barrel price of Oman -0.30 U.S. official. Oman crude oil in October is the official price of Dubai Mercantile Exchange in August average trading price of the settlement.
Dubai crude oil has traditionally been the benchmark of Middle East oil producers, Dubai, United Arab Emirates only the production of more than 2.2 million barrels of daily crude oil production as part of the total. Cargo in the Middle East producers will announce pricing for a barrel of Dubai / Oman Spread valuation.
Jul. 31, 2009
Dubai government said Thursday, in October had confirmed that their primary official price of crude oil per barrel price of Oman -0.30 U.S. official. Oman crude oil in October is the official price of Dubai Mercantile Exchange in August average trading price of the settlement.
Dubai crude oil has traditionally been the benchmark of Middle East oil producers, Dubai, United Arab Emirates only the production of more than 2.2 million barrels of daily crude oil production as part of the total. Cargo in the Middle East producers will announce pricing for a barrel of Dubai / Oman Spread valuation.
Jul. 31, 2009
Iraq's oil potential is far more than the initial forecast
Washington news, Barack Obama's national security adviser James Johns on July 24 said here today that the oil potential of Iraq's possession of people far more than earlier presumed.
Johns was at the U.S. Chamber of Commerce in Washington, held after the meeting and deliver a speech on the media made these remarks. He said: "They found more oil reserves, Iraq's oil potential of the total much higher than our previous forecast." Previously led the American Chamber of Commerce of the energy research institute, said Johns, as in the oil and gas exploration operations in Iraq has become easier than before, so that they are the exploration for more oil reserves.
Johns in the United States Chamber of Commerce meeting, a speech that the security situation in Iraq continue to improve the foreign companies to increase investment in the possibility of Iraq's oil industry.
Jul. 27, 2009
Johns was at the U.S. Chamber of Commerce in Washington, held after the meeting and deliver a speech on the media made these remarks. He said: "They found more oil reserves, Iraq's oil potential of the total much higher than our previous forecast." Previously led the American Chamber of Commerce of the energy research institute, said Johns, as in the oil and gas exploration operations in Iraq has become easier than before, so that they are the exploration for more oil reserves.
Johns in the United States Chamber of Commerce meeting, a speech that the security situation in Iraq continue to improve the foreign companies to increase investment in the possibility of Iraq's oil industry.
Jul. 27, 2009
BP announced that the North Sea oil production has dropped by 9%
Europe's second largest oil and gas company British Petroleum has announced that its North Sea oil production has dropped by 9% this year, for the expected rate of 2 times. BP said the company in 2009 in Norway and the United Kingdom, the average oil production of about 320,000 barrels per day, less than 35 million barrels a day last year, production dropped by about 9%. At the same time, the company hopes to maintain in the next 10 years the North Sea oil production was 300,000 barrels per day.
University of Aberdeen, Alex Kemp, Professor of Economics at the oil that, like British Petroleum, Shell Oil Company to do large-scale, the importance of North Sea oil fields is declining. The remaining oil reserves are relatively small, it is difficult to let the oil giants are excited. British Petroleum discovered in 1965 in the North Sea oil fields, according to statistics there are about 3 billion of its barrels.
Jul. 22,2009
University of Aberdeen, Alex Kemp, Professor of Economics at the oil that, like British Petroleum, Shell Oil Company to do large-scale, the importance of North Sea oil fields is declining. The remaining oil reserves are relatively small, it is difficult to let the oil giants are excited. British Petroleum discovered in 1965 in the North Sea oil fields, according to statistics there are about 3 billion of its barrels.
Jul. 22,2009
Ecuador talks with 1 billion U.S. dollars in China oil deal
Ecuadorian Minister of Economic Policy Coordination Minister Diego Borja said to Dow Jones Newswires, Ecuador is working with PetroChina to negotiate, to negotiate one billion U.S. dollars in advance for the next two years to buy 96,000 barrels a day Oriente and Napo crude oil issues.
Borja said that as part of the negotiations, Ecuador will ask the Chinese for the final consumption of crude oil can not be sold to Peru or Chile, in order to avoid confusion in the market. But he added that Chinese companies could be resold to other regions. Ecuadorian President Rafael Correa last Saturday (July 11) released a week the media said that the Ecuador in the next few days will be one billion U.S. dollars to obtain credit. Borja said that Ecuador is in China is also on a 4-year one billion U.S. dollars of loan negotiations.
Jul. 18, 2009
Borja said that as part of the negotiations, Ecuador will ask the Chinese for the final consumption of crude oil can not be sold to Peru or Chile, in order to avoid confusion in the market. But he added that Chinese companies could be resold to other regions. Ecuadorian President Rafael Correa last Saturday (July 11) released a week the media said that the Ecuador in the next few days will be one billion U.S. dollars to obtain credit. Borja said that Ecuador is in China is also on a 4-year one billion U.S. dollars of loan negotiations.
Jul. 18, 2009
U.S. oil and gas drilling in the second quarter fell 46 percent the number of
July 13 New York news, the American Petroleum Institute (API) Monday said the U.S. oil and gas drilling in the second quarter than the same period last year dropped 46%. Completion of the second quarter of U.S. oil wells, gas wells and dry wells was estimated to be 8038, which is since 2003 the lowest level.
According to API, said the second quarter of U.S. oil and gas exploration in the number of wells drilled declined 63 percent year-on-year to 336, the development of wells to 46 percent decline in 6761.
API estimates the second quarter of U.S. natural gas wells completed for 4225, up 43 percent decline, which is the largest decline over the past decade, a quarter, while year-on-year decline in the number of wells completed about 53%.
Jul. 14, 2009
According to API, said the second quarter of U.S. oil and gas exploration in the number of wells drilled declined 63 percent year-on-year to 336, the development of wells to 46 percent decline in 6761.
API estimates the second quarter of U.S. natural gas wells completed for 4225, up 43 percent decline, which is the largest decline over the past decade, a quarter, while year-on-year decline in the number of wells completed about 53%.
Jul. 14, 2009
OPEC's revenue last year, more than 1 trillion U.S. dollars
LONDON, July 8 news, Organization of Petroleum Exporting Countries (OPEC) on July 8 in the published annual statistical bulletin OPEC said world oil prices as a result of last year and once reached a record high of 147.27 U.S. dollars a barrel, OPEC members last year from oil and gas exports was more than 10,000 billion dollars in revenue, an increase of 35%.
According to OPEC's annual statistical bulletin said, OPEC oil export revenues last year reached 1.007 trillion U.S. dollars, in 2007 more than 746 billion U.S. dollars of the 35 percent increase in OPEC oil export revenues last year, a record high.
U.S. benchmark crude oil futures prices in 2008 the average price of about 99 U.S. dollars per barrel, in 2007 more than 72 U.S. dollars per barrel increased by 27 U.S. dollars. The price of crude oil last year, once in July reached 147.27 U.S. dollars a barrel record high oil prices in December last year fell to about 40 U.S. dollars a barrel.
From 12 member countries (Indonesia left OPEC in the end of last year) the composition of the oil production of OPEC in world oil production accounted for about one-third, while OPEC's proven oil reserves account for about a total global proven oil reserves four-fifths.
Jul. 10, 2009
According to OPEC's annual statistical bulletin said, OPEC oil export revenues last year reached 1.007 trillion U.S. dollars, in 2007 more than 746 billion U.S. dollars of the 35 percent increase in OPEC oil export revenues last year, a record high.
U.S. benchmark crude oil futures prices in 2008 the average price of about 99 U.S. dollars per barrel, in 2007 more than 72 U.S. dollars per barrel increased by 27 U.S. dollars. The price of crude oil last year, once in July reached 147.27 U.S. dollars a barrel record high oil prices in December last year fell to about 40 U.S. dollars a barrel.
From 12 member countries (Indonesia left OPEC in the end of last year) the composition of the oil production of OPEC in world oil production accounted for about one-third, while OPEC's proven oil reserves account for about a total global proven oil reserves four-fifths.
Jul. 10, 2009
The next 20 years Russia will be China's output of 300 million tons of oil
Russian State Duma (lower house) has voted to approve in April this year by both Russia and China signed the "Sino-Russian cooperation in the field of oil intergovernmental agreement" that Russia will in the next 20 years, China's annual output to 15 million tons crude oil. A French media said that China is committed to ensuring that the supply of oil to meet the needs of rapid economic development.
Under the agreement, China and Russia will jointly build and operate a road connecting Russia and China Skovorodino Daqing oil pipeline, the pipeline is expected to put into operation in 2010. Upon completion, the Russian side in the next 20 years, China's annual output to 15 million tons of crude oil.
Jul. 6, 2009
Under the agreement, China and Russia will jointly build and operate a road connecting Russia and China Skovorodino Daqing oil pipeline, the pipeline is expected to put into operation in 2010. Upon completion, the Russian side in the next 20 years, China's annual output to 15 million tons of crude oil.
Jul. 6, 2009
Qatar: There is no need for OPEC to increase oil production
According to the media June 29 reported the Doha, Qatar Oil Minister Abdullah bin Hamad Al-Attiyah on June 29 said that he thought the Organization of Petroleum Exporting Countries (OPEC), there was no need to September this year held in Vienna in the next members of the Council of Ministers on oil increase in oil production.
Attiyah In response to media questions about the OPEC meeting in September, said: "I think the OPEC meeting in September there is no need to increase oil production."
Attiyah said that despite the current 70 U.S. dollars per barrel of oil has nothing to do with supply and demand balance, but now there are signs that oil demand from Asia began to increase.
Attiyah said: "We are seeing some improvement in demand, but the current rise in oil prices and the market has nothing to do with supply and demand fundamentals."
Jul. 2, 2009
Attiyah In response to media questions about the OPEC meeting in September, said: "I think the OPEC meeting in September there is no need to increase oil production."
Attiyah said that despite the current 70 U.S. dollars per barrel of oil has nothing to do with supply and demand balance, but now there are signs that oil demand from Asia began to increase.
Attiyah said: "We are seeing some improvement in demand, but the current rise in oil prices and the market has nothing to do with supply and demand fundamentals."
Jul. 2, 2009
Vietnam in June crude oil export volume up 33%
News June 25, Vietnam Statistical Office (GSO) said Thursday, is expected to Vietnam in June crude oil export volume will increase over the same period last year, 33 percent or 1.38 million tons to reach 337,000 barrels a day.
Bureau of Statistics said that Viet Nam is expected in June crude oil exports will decline 33 percent last year to 720 million U.S. dollars.
According to the amendments to GSO data, exports to Vietnam in May of 1.322 million tons of crude oil, exports 579 million U.S. dollars.
1-6 months, it is estimated that the country's crude oil export capacity of 8,282,000 tons, 23.5 percent growth over last year. GSO said that 1-6 is expected during the month of crude oil exports will fall 41.5 percent to 3.31 billion U.S. dollars.
Jun. 28, 2009
Bureau of Statistics said that Viet Nam is expected in June crude oil exports will decline 33 percent last year to 720 million U.S. dollars.
According to the amendments to GSO data, exports to Vietnam in May of 1.322 million tons of crude oil, exports 579 million U.S. dollars.
1-6 months, it is estimated that the country's crude oil export capacity of 8,282,000 tons, 23.5 percent growth over last year. GSO said that 1-6 is expected during the month of crude oil exports will fall 41.5 percent to 3.31 billion U.S. dollars.
Jun. 28, 2009
Iran's oil production 86 years can
Iran News June 24, June 23, Iranian Oil Minister Gholam Hussein Nozari told reporters that Iran has rich oil and gas resources, natural gas can be 143 years mining, oil exploitation 86 years.
Nouzha Lane said, at present, Iran's daily output of 4,335,000 tons of crude oil, natural gas 552 million cubic meters daily, "45 plan" the first four years of oil and natural gas production 82 billion barrels, respectively, 22.55 million barrels, 52.42 million barrels, 1363000000 barrels of oil equivalent, respectively, to achieve "45 Plan" 547 percent goal of the first four years, 150%, 349%, 100%.
Jun. 24, 2009
Nouzha Lane said, at present, Iran's daily output of 4,335,000 tons of crude oil, natural gas 552 million cubic meters daily, "45 plan" the first four years of oil and natural gas production 82 billion barrels, respectively, 22.55 million barrels, 52.42 million barrels, 1363000000 barrels of oil equivalent, respectively, to achieve "45 Plan" 547 percent goal of the first four years, 150%, 349%, 100%.
Jun. 24, 2009
Most of the new oil projects in Russia may be unprofitable
According to Russian media in Moscow on June 18 reported that the Government of the Russian Federation in accordance with the Department of Energy submitted a few days ago about how to reduce the tax burden is not to develop oil fields proposed earlier, Russia's oil projects, even if most of the new oil at 150 U.S. dollars per barrel will be unprofitable.
That the Russian Ministry of Energy, under the current tax system, the Russian domestic oil most of the new project will be unprofitable. In nearly 10 major new oil projects, only three projects are the development of the meaning, but the requirements of Urals crude in the international market price can not be less than 60-90 U.S. dollars a barrel.
Russian Ministry of Energy, said new oil fields if there is no additional tax incentives, then, the Russian oil companies than they produced last year a small number of oil production of 40 million tons.
Russian Energy Minister Sergei tecomapa chashma in February this year when Prime Minister Vladimir Putin met with oil companies to develop proposals for a new tax system. Chashma Zitko said that if oil prices continue to remain low when the implementation of the current tax system, then 94% of Russia's domestic development of new oil fields will be unprofitable.
Jun. 20, 2009
That the Russian Ministry of Energy, under the current tax system, the Russian domestic oil most of the new project will be unprofitable. In nearly 10 major new oil projects, only three projects are the development of the meaning, but the requirements of Urals crude in the international market price can not be less than 60-90 U.S. dollars a barrel.
Russian Ministry of Energy, said new oil fields if there is no additional tax incentives, then, the Russian oil companies than they produced last year a small number of oil production of 40 million tons.
Russian Energy Minister Sergei tecomapa chashma in February this year when Prime Minister Vladimir Putin met with oil companies to develop proposals for a new tax system. Chashma Zitko said that if oil prices continue to remain low when the implementation of the current tax system, then 94% of Russia's domestic development of new oil fields will be unprofitable.
Jun. 20, 2009
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