million barrels news
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Iraq aims to boost oil output
Dubai :: United Arab Emirates | 3 days ago
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The war-torn country has recently revised its estimate of proven oil reserves from 115 billion barrels in 2011 to 141 billion barrels in 2013, is seeking strategic partnerships and investments to exploit its down-stream potential, which was destroyed
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Oil exports from Yemen rebound ...
Dubai :: United Arab Emirates | 5 days ago
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Yemen's oil export volumes rose 14 percent in the first quarter of 2013, earning the government $35m more than in the same period of 2012, according to data published by Yemen's central bank yesterday. Attacks on Yemen's oil pipelines since 2011 cut
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Saudi Arabia to import near record high diesel this summ...
Dubai :: United Arab Emirates | 6 days ago
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Saudi Arabia will import near record high diesel volumes this summer, as it gears up to beat the sweltering heat and meet rising travel needs during the Muslim fasting month of Ramadan, trade sources said. State oil giant Saudi Aramco will import up
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Congress brews tax breaks for beer makers
Durango :: CO :: USA | 7 days ago
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L egislation fermenting in Congress this session may mean a tax break for brewers. Act on Wednesday, which would lower the federal excise tax that small and large brewers pay per barrel so brewers can reinvest in their business, Udall spokesman Mike
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Total boosts exploration, production drive: CEO
São Paulo :: Brazil | 8 days ago
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The development of new oil reserves and a more aggressive exploration strategy will enable French oil group Total to meet its targets for boosting production of oil and gas, chief executive Christophe de Margerie said on Friday. Speaking to a general
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Russia annuls Azeri oil transit deal
Baku :: Azerbaijan | 11 days ago
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The Russian government said it terminated a 1996 deal to transport oil from Azerbaijan through its pipeline systems from Baku. A 1996 deal between Russian pipeline company Transneft and the State Oil Company of Azerbaijan Republic calls for the
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US boom transforming global oil trade
Tehrān :: Iran | 11 days ago
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The surge in oil production in the U.S. and Canada and shrinking oil consumption in the developed world is transforming the global oil market. The threat of chronic oil shortages is all but gone, U.S. dependence on Middle Eastern oil will continue to
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Africa: Africa's Oil and Gas Outlook 2013
Maputo :: Mozambique | 13 days ago
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Africa' share of global oil and gas production has stood at 10% and 6% respectively over the past 24 months. Ecobank Research estimates that the total production of crude oil in Africa in 2013 is likely to be around 8.9 million barrels per day...
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The downsides of U.S. energy independence
Lagos :: Nigeria | 13 days ago
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EDT Konrad Yakabuski (Fernando Morales/The Globe and Mail) For four decades, U.S. foreign policy has been dictated by the country's dependence on Middle Eastern oil. What Barack Obama has called an addiction to foreign crude is seen as having
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With pipelines on hold, oil storage services boom
Toronto :: Canada | 13 days ago
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The wait for proposed pipeline projects such as Keystone XL has resulted in growth of the storage industry, once considered a sideline. (Keyera Corp.) A combination of growing oil sands production and congested pipelines is creating new opportunities
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