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Iran No Longer Accepts US Dollars for Oil
As fears grow that both China, with its massive foreign currency reserves, and the Middle Eeastern oil states will move from the dolalr to the euro as their favored international currency, Iran has announced that...
created by Dave Keating | 5 years ago | updated 5 years ago
1162 views | 32 recommendations | 8 comments
1162 views | 32 recommendations | 8 comments
Opec warns oil could reach $200 a barrel
"Opec, the oil producing cartel, has warned that the price of crude could keep rising to reach $200 a barrel." Non-fundamental factors main cause of oil price fluctuation, OPEC
"Non-fundamental factors are the main cause of the current fluctuations in the world crude oil price, a governor of the Organization of Petroleum Exporting Countries (OPEC), Maizar Rahman, said.The present downturn in the oil price was caused by a recovery in the US dollar`s... Venezuela Vs Exxon Mobil: PDVSA wins unfreezing oil assets at London court (u...
Caracas, Venezuela, 18 March, 2008. Venezuelan Minister for Oil and President of PDVSA, Rafael Ramirez, has announced his country won an ordeal at a London court. Thus, it has managed to reverse a... All eyes on record oil prices as OPEC prepares to meet
""Either we hold (output) steady or we cut in order to restore market balance and stability," Khelil, who is also Algeria's energy minister, said in a statement ahead of Wednesday's meeting.OPEC members Iran and Venezuela are calling on the cartel to cut production when it...World oil prices strike fresh records
New York (ANTARA News) - World oil prices struck fresh record highs in New York and London in Tuesday trading amid fears of declining OPEC oil output ahead of the cartel's looming meeting next week, traders said.New York's main oil futures contract, light sweet crude for...OPEC could ditch dollars for euros: chief
London (ANTARA News) - OPEC could switch the pricing of oil from dollars into euros within a decade, secretary general Abdullah al-Badri was quoted by AFP as telling a weekly magazine.The Organization of the Petroleum Exporting Countries could adopt the euro to combat the...OPEC crude price continues to drop
Vienna (ANTARA News) - The price for crude oil produced by the Organization of the Petroleum Exporting Countries (OPEC) dropped by 1.37 dollars, continuing a downward trend, officials said WednesdayOne barrel (159 litres) of OPEC crude stood at 83.84 dollars on Tuesday,...Pertamina to lift investment by 50 percent
"Indonesia is Asia Pacific's only member of OPEC, but ageing fields and lack of investment has made the country a net crude oil importer since 2006, although it is still a net energy exporter, thanks to a huge supply of natural gas and coal.The country is also Asia's largest...High oil price will last until March: OPEC president
""The surge in price will probably endure until the end of the first quarter of 2008, before stabilising during the second quarter," the Algerian Energy Minister Chakib Khelil -- who is also OPEC leader -- said on the sidelines of a conference on the security of hydrocarbon...OPEC under pressure to act in face of 100-dollar oil: analysts
""It (the 100-dollar record) will be a psychological trigger for consumer countries," said global head of commodities at investment bank Societe Generale Frederic Lasserre."We will see governments putting pressure on OPEC, saying 'we need you to do something for us'. In the...Twin car bombs kill 47 in Algiers
"At least forty-seven people were killed when two car bombs exploded in upscale districts of Algiers on Tuesday, a security source said, in the bloodiest attack since the 1990s on the capital of the OPEC member state. There was no immediate claim of responsibility but...Oil market well supplied, OPEC agenda open-ministers
"On global oil supplies, the minister said: "They are definitely comfortable and they are definitely within the five-year average, and no one can deny it. That is a fact."The Organization of Petroleum Exporting Countries had no control over prices being determined by the...Existing oil and gas law not conducive for investment
"According to Kurtubi, Indonesia actually still had very sizable oil and gas reserves, namely about 86.9 billion barrels of oil and about 384 tcf of gas. The decline in investment in oil and discovery of new oil...Saudi announces US$300 mln fund for climate change studies
Riyadh (ANTARA News) - Saudi Arabia has contributed $300 million toward a fund to establish an international program for scientific research into energy, the environment and climate change. Custodian of the Two Holy Mosques King Abdullah bin Abdul Aziz announced the...Top Members Today
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