Latest Chronology of world oil market events Stories

Saudi Arabia's Oil Output Drives Overall Organization Production Increase LONDON, May 13, 2013 /PRNewswire/ -- The Organization of the Petroleum Exporting Countries (OPEC) boosted crude output by 250,000 barrels per day (b/d) to 30.5 million b/d in April, a just-released Platts survey of OPEC and oil industry officials and analysts showed. Production increases in April halted a recent downward trend, during which overall output slid from 31.17 million b/d in October 2012 to 30.25...

TSX ticker symbol; BKX CALGARY, March 26, 2013 /PRNewswire/ - All amounts are in U.S. Dollars unless otherwise indicated:      Fourth Quarter Twelve Months 2012 2011 % 2012 2011 % Earnings (Loss): $ Thousands ($4,538)...

HOUSTON, Dec. 6, 2012 /PRNewswire/ -- Noble Energy, Inc. (NYSE: NBL) today announced its 2013 capital program and guidance, and provided updates to the fourth quarter of 2012. Total capital expenditures are estimated at $3.9 billion for the year. The capital program allocates 60 percent to onshore U.S., six percent to the deepwater Gulf of Mexico, 15 percent to West Africa and 10 percent to the Eastern Mediterranean. Global exploration and appraisal activity is expected to...

HOUSTON, July 30, 2012 /PRNewswire/ -- In a new research report entitled Refining Unconventional Oil - Unconventional Resources Invigorate Mature Industry, Hart Energy Research analyzes and projects the inter-dependent regional fundamentals of rising unconventional tight and shale oil production poised to make (or not make) their way through U.S. crude pipelines and new rail tanker logistics to the nation's existing refineries. The report also analyzes natural gas demand in...

LONDON, June 8, 2012 /PRNewswire/ -- Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) rose 40,000 barrels per day (b/d) to 31.75 million b/d in May, a Platts survey of OPEC and oil industry officials and analysts showed June 8. The May production marks a rise from April's output level of 31.71 million b/d and is the highest level since October 2008 when OPEC volumes averaged 32.26 million b/d. "The number that really matters is the jump from...

WASHINGTON, March 7, 2012 /PRNewswire-USNewswire/ -- American Fuel & Petrochemical Manufacturers President Charles T. Drevna told a House subcommittee today that high crude oil prices are the primary factor behind high gasoline prices, and said the most effective actions to help American consumers would be to increase U.S. oil production, increase oil imports from Canada and reduce overregulation. (Logo: http://photos.prnewswire.com/prnh/20120125/MM41823LOGO ) Drevna...

WAYZATA, Minn., Feb. 29, 2012 /PRNewswire/ -- Northern Oil and Gas, Inc. (NYSE/AMEX: NOG) ("Northern Oil") today announced 2011 fourth quarter and full year financial results and year-end proved reserves and provided an operational update. 2011 Highlights: Proved reserves increased 198% year-over-year to 46.8 million barrels of crude oil equivalent ("BOE")PV10% value of proved reserves increased 273% year-over-year to $1.1 billion117% production growth compared to 2010 (21% sequential...

LONDON, Sept. 13, 2011 /PRNewswire/ -- The Organization of the Petroleum Exporting Countries (OPEC) boosted its crude output by 130,000 barrels per day (b/d) in August to pump an average 30.13 million b/d throughout the month, according to the Platts monthly survey of OPEC and oil industry officials and analysts. "OPEC needed to produce every barrel it could during these last six months to account for the lost Libyan crude. The market awaits the return of that oil, on a timetable that can...

DALLAS, Texas, July 27, 2011 /PRNewswire/ -- ReportsnReports Announces it Will Carry Reports on Oil Markets 2011 & Gas Markets 2011 for Indonesia, Malaysia, Brunei Darussalam, New Zealand, Germany, UK and Other Countries in its Store GlobalData's latest market research reports cover the 2011 Oil Markets and 2011 Gas Markets for countries like Malaysia, Indonesia, Brunei Darussalam, New Zealand, Kuwait, Qatar, Saudi Arabia, Germany and The United Kingdom. The...

KNOXVILLE, Tenn., June 30, 2011 /PRNewswire/ -- Tengasco, Inc. (NYSE Amex: TGC) announced today that on June 27, 2011 the Company entered into an agreement with Cargill, Incorporated for the period from August 1, 2011 through December 31, 2012. The agreement provides to the Company a $65 per barrel floor on a stated quantity of 10,000 barrels per month, which is approximately half of the Company's current production of oil. If the average price falls below $65 per barrel, then Cargill...