eNergy Culture

NEW YORK - Crude inventories and gasoline supplies rose last week, the government said Wednesday. Crude inventories rose by 1 million barrels, or 0.3 percent, to 337.8 million barrels, which is 6.1 ...  

World oil prices rose slightly on Wednesday as traders awaited the weekly US energy report and digested slower-than-expected third-quarter American economic growth.New York's main contract, light sweet crude for January delivery, added 35 cents to 76.37 dollars a barrel.Brent North Sea crude for January delivery increased 52 cents to 76.98 dollars."Today, all attention will be on the weekly US fuel inventories report," said VTB Capital...  

A recent report about undue pressure by the United States on the Paris-based International Energy Agency, IEA, to distort crude oil projection figures is rather unsettling. The report, citing a whistleblower at IEA, indicated that the United States influenced the agency to underplay data, which indicated imminent, crude oil supply shortages while overplaying prospects of new discoveries. A U.S. motive for this, however, has not reallly been...  

Reuters South AfricaCrude Oil Rises on Improving Global Demand, Dollar WeaknessBloombergValero Energy Corp., the largest US refiner, said it will permanently close its Delaware City, Delaware, plant because of mounting losses after the ...OIL FUTURES: Oil Higher On Weaker Dollar, Iran TensionsCattleNetwork.comCommodities: Oil Down, Gold UpInternational Business Times Australiaall 404 news articles »  

Nov. 20 (Bloomberg) -- Stephen Schork, president of the Schork Group and editor of the Schork Report, talks with Mark Crumpton about the outlook for oil prices. Crude oil fell for a second day as the dollar strengthened against the euro, reducing the appeal of commodities to investors, and equity markets declined. (Source: Bloomberg)  

Rio de Janeiro, Nov 5 (EFE) Brazilian state-controlled energy giant Petrobras said that it has signed a contract finalising a 10-year, $10 billion loan from China Development Bank (CDB) Corp, the biggest-ever financing deal between a Chinese entity and a Brazilian firm.  

Petrobras' average oil production in Brazil in October was 2,000,708 barrels, 6.8% more than a year ago. Compared to September, production remained at the same level. This volume shows a sustainable production of more than 2 million barrels of per ...  

US crude oil production for October averaged 5.36 million barrels per day, continuing at levels not seen since 2005, according to the American Petroleum Institute’s (API) Monthly Statistical Report. Crude production from the Lower 48 states averaged 4.67 million barrels...  

Here's an interesting report from over the weekend out of Saudi Arabia via The Telegraph. It appears that the Kingdom is unhappy with using West Texas Intermediate crude oil as traded on the New York Mercantile Exchange as a basis for its oil sales.Who could blame them after what's happened over the last year?That is, when huge spreads between WTI crude and brent crude developed and then, like clockwork every month when the near-month futures...  

John Dalt submits:Crude oil inventory reports came out Wednesday from the Energy Information Administration (EIA). Is the trend towards higher prices supported by the numbers?Crude oil inventories were down four million barrels but still 7.7% above last year’s level. This was a larger drop in inventory than the market was expecting. Imports dropped 764 thousand barrels, 486 thousand barrels below the four-week average. Imports for the week...  

SAN FRANCISCO (MarketWatch) -- Oil and gas stocks opened modestly lower across the board Friday, following crude oil prices and the broader stock market as they extended the previous session's declines. The NYSE Arca Oil and Gas Index was off 0.9% at 1,071 points, the NYSE Arca Natural Gas Index was off 0.5% at 498 points, and the Philadelphia Oil Services Index [s; $osx] dropped 0.6% to 192 points. December crude-oil futures were down 74...  

Angolan state-owned oil firm Sonangol and Brazil's Petrobras have found a new oil field 1,500 metres below the ocean floor in Block 18/06 in Angola, state-owned news agency Angop reported on Tuesday. The well, about 200 km north of the capital Luanda ...  

The Organization of Petroleum Exporting Countries is “happy” with crude oil prices between $75 and $78 a barrel, said the group’s president, Angolan Oil Minister Jose Maria Botelho de Vasconcelos. Current crude oil prices are at a “good level ...  

S, bolstering investor demand for the commodity while a Tropical Storm entered the Gulf of Mexico, forcing BP and Chevron to limit output. The tropical storm’s maximum sustained winds decreased to about 70 miles per hour, from 105 mph earlier today ...  

Qatar Petroleum is engaged in exploration, drilling, production, storage and transportation of crude oil and natural gas. It is also involved in sale of crude oil, natural gas liquids, liquefied natural gas (LNG), gas-to-liquids, refined products ...