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Latest World oil market chronology Stories

2013-01-28 08:22:46

HOUSTON, Jan. 28, 2013 /PRNewswire/ -- Topping the list of the big oil and gas stories in 2012 was the dramatic surge is US oil production. In 2013, the US will remain the largest source of new oil growth worldwide aided by the shale boom, but surpassing Saudi Arabia as the globe's top oil producer by 2020 will be a challenge. The big turnaround of US oil production brought by new light tight oil developments was fully recognized in 2012, putting to rest the long-held notion that domestic...

2013-01-22 08:24:19

LONDON, January 22, 2013 /PRNewswire/ -- Oil prices have been range bound over the last two years and the trend is likely to continue in 2013. In this current environment, our commodities analysts have prepared and posted technical reports on Chevron Corporation (NYSE: CVX) and Exxon Mobil Corporation (NYSE: XOM). These free reports can be accessed at http://www.stockcall.com/registration Oil Remains Moderately Bearish Although there has been an increase in...

2012-06-08 10:20:42

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 January to...

2012-04-26 06:21:12

BEIJING, April 26, 2012 /PRNewswire-Asia-FirstCall/ -- China Petroleum & Chemical Corporation ("Sinopec" or "the Company") (CH: 600028; HKEX: 386; NYSE: SNP; LSE: SNP) today announced its unaudited first quarter results for the three months ended 31 March, 2012. Financial Highlights: In accordance with the PRC Accounting Standards for Business Enterprises ("ASBE"), in the first quarter of 2012, the Company's operating income increased by 14% year-on-year to RMB671.365 billion. Net...

2012-02-09 06:31:00

HOUSTON, Feb. 9, 2012 /PRNewswire/ -- Noble Energy, Inc. (NYSE: NBL) today announced its 2012 capital program and provided guidance for the year. Total capital expenditures are estimated at $3.5 billion for the year. The capital program allocates 51 percent to onshore U.S., seven percent to the deepwater Gulf of Mexico, 22 percent to the Eastern Mediterranean and 14 percent to West Africa. Global exploration and appraisal activity is expected to receive 16 percent of total capital. Charles...

US Becoming More Energy Independent
2012-01-26 05:59:45

The U.S. Energy Information Administration (EIA) said on Monday that the nation will become more energy independent by 2035. EIA released the updated projections for U.S. energy in the Annual Energy Outlook 2012 Reference case, reports Wendy Koch for USA TODAY. "Our updated Reference case projections show natural gas and renewables gaining an increasing share of U.S. electric power generation, domestic crude oil and natural gas production growing, reliance on imported oil decreasing,...

2011-07-27 02:45:00

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...

2011-05-11 14:59:00

NORTHRIDGE, Calif., May 11, 2011 /PRNewswire/ -- XnE, Inc. (Pink Sheets: XNEZ) is pleased to announce the new direction of the Company into the Oil and Gas Sector. The Company intends to implement its aggressive growth strategy by acquiring oil wells that are believed to be underdeveloped or have the potential to recover oil reserves that are still in place. Our geographical focus is to develop small to mid tier oil and gas properties in Oklahoma and the continental United States....

2011-04-21 10:04:00

HOUSTON April 21, 2011 /PRNewswire/ -- Unrest in North Africa and the Middle East, coupled with the disaster in Japan, threatens the sustainability of the global economic recovery, but the momentum of growth is thought to be strong enough in most regions to absorb the shocks. However, global economic growth projections are being reduced, dropping to around 4% for 2011. Despite the fact that short-term oil and gas supply and demand remains relatively balanced, oil prices have gone up in...

2011-03-17 16:35:00

LONDON, March 17, 2011 /PRNewswire/ -- The impact of changes in energy demand caused by the crisis in Japan will be exacerbated by the fragile state of the global oil market, according to energy price reporting agency Argus. The market had just started to deal with the loss of Libyan supplies when the 11 March earthquake and tsunami hit Japan, severely damaging ports, power stations, refineries and other energy infrastructure. Over 1.2mn b/d of Libyan crude exports has been lost to the...