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Posts under ‘OPEC’

Oil prices continued their collapse on Friday

Oil prices continued their collapse on Friday… The new rout began Friday morning… Gas prices will continue to be in a free fall as long as crude oil is searching for a bottom,” the AAA motor club reported on Friday. From an article published by The New York Times on page B1 of the New […]

Opec is finished – the oil crash will continue

The Opec oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over the coming months as market forces shake out the weakest producers, Bank of America has warned. The major oil companies will have to cut back on projects with a break-even cost below $80 for Brent […]

Can BP plc Be Acquired By Royal Dutch Shell plc?

Bidness Etc discusses the prospects of BP being taken over by Royal Dutch Shell plc (ADR) owing to declining crude oil price By: MICHEAL KAUFMAN Published: Dec 2, 2014 at 2:21 pm EST BP plc (ADR) (NYSE:BP) stock is up 2.6% on speculation that Royal Dutch Shell plc (ADR) (NYSE:RDS.A) might be interested in acquiring […]

Repercussions Of Lower Oil Prices On Energy Sector

Published: November 29, 2014 at 11:11 am EST By: Micheal Kaufman The decision by the Organization of Petroleum Exporting Countries (OPEC) to maintain production at 30 million barrels of oil per day came as a shock for most oil companies. As a result crude oil prices fell drastically and West Intermediate Texas (WTI) was down […]

Oil company shares slumped

OPEC’s decision on Thursday not to cut production in order to prop up oil prices sent markets reeling. Oil company shares slumped, wiping billions off firms’ market value… As they come to terms with the new oil regime, companies will cut spending by up to 10 percent in 2015… and delay new project approvals. LONDON, […]

Oil prices continue to fall

Shell, BP and Petrofac shares close down as Opec decides not to cut oil production. Stocks of major oil producers were in the firing line as their profits are hugely dependent on the price of oil they extract. Royal Dutch Shell, for example, fell 4.3 percent while Total SA dropped 4.1 percent. LONDON — Oil […]

OIL, OIL, TOIL AND TROUBLE

ARTICLE BY STEVEN HAYWARD, PUBLISHED BY POWERLINE 25 NOVEMBER 2014 The fall OPEC meeting is under way right now in Vienna, and all eyes are on the Saudis, to see whether they will lead a strategy to stop the fall in oil prices, which is putting the crimp on Iran, Russia, and Venezuela, among other […]

Iraq and Iran plot oil revolution in challenge to Saudi Arabia

Iraq’s goal of pumping 9m barrels a day of crude could be a game changer for oil prices and British companies: British oil giants BP and Royal Dutch Shell are also poised to benefit from Iraq’s ambitious production plans. Both companies are already managing two huge oil fields in southern Iraq which are vital if Baghdad […]

BP and Shell among oil firms Iran wants back in country

Iranian Oil Minister seeks talks with oil giants to return Iran to help tap world’s fourth-largest oil reserves after sanctions are lifted By Reuters: 2:25PM GMT 04 Dec 2013 Iran on Wednesday named seven Western oil companies it wants back in its vast oil and gas fields once international sanctions are lifted and said it […]

By 2023, a Changed World in Energy

By 2023, a Changed World in Energy By CLIFFORD KRAUSS: A version of this article appeared in print on April 25, 2013, on page F1 of the New York edition HOUSTON IF you could close your eyes for just a moment like Rip Van Winkle, and blink them open in 2023, you might see a […]

Shell says still interested in Libya oil exploration

VIENNA | Wed Nov 7, 2012 4:27pm GMT Reuters) – Royal Dutch Shell (RDSa.L) said on Wednesday that it remained interested in oil and gas exploration opportunities in Libya after abandoning drilling in two blocks earlier this year. Shell told Reuters in May that it planned to exit from the LNGDA and area 89 after […]