Oil prices fell again as the dollar continued to strengthen and investors turned their attention to slowing worldwide demand for crude now that concerns over the impact of Hurricane Gustav have begun to fade. At one point, the price of a barrel was trading in New York below $105.05 - its lowest... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story

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Wednesday was the final state plebiscites on Mexican President Felipe Calderon’s energy sector reform, which would see more private participation in the oil sector. Votes have been held, or are planned, in 22 states, organised by the centre-left opposition Party of the Democratic Revolution (PRD),... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story

Paralysis seen on energy. Politics and energy go hand in hand, but often to the detriment of Americans who want solutions and get only "partisan paralysis," former Shell Oil Co. President John Hofmeister said Monday. Hofmeister joined several other energy executives and experts at an energy policy... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story

Perhaps only during a summer in which the price for a barrel of oil has traveled between a more than $30 span could a shooting war in the oil-rich Caspian region already be priced in by traders on the New York Mercantile Exchange. Western leaders engaged in intense diplomacy Friday to persuade... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story

An increase of 300,000 bpd on collective production. Platts, the world's leading provider of energy information, said in its latest report that the OPEC-12, excluding Iraq, exceeded their 29.673 million bpd target by 637,000 bpd. An increase in the daily production of 390,000 bpd by Saudi Arabia,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story

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PETROBRAS, Brazil's state-controlled oil company, said second-quarter profit jumped 29 percent to a record on increased oil production and higher prices for crude and fuel. Consolidated net income rose to 8.78 billion reais ($5.40 billion), or 1 real a share, from 6.80 billion reais, or 78... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Read Full Story