Oil
Hunting for Investment Options Among Foreign Oil Stocks
Crude oil prices continue to fall this year with the price for October delivery dropping to $88.61 on the New York Mercantile Exchange according to a Bloomberg report today. Demand is projected to decline as economic growth slows especially in the developed world. In addition, the Paris-based IEA lowered its estimates for oil consumption this [...]
How Long Will the Global Oil and Natural Gas Reserves Last
The world’s proven oil reserves of 1,383.2 billion barrels will last for only 46 years if oil production and consumption are to remain at current levels, according to BP Statistical Review of World Energy. The world’s natural gas reserves will also last for just 59 years if production is to continue at the 2010 rate. [...]
Libya and Oil
Crude oil prices rallied today reaching $100 a barrel in New York before settling the day for April delivery at $98.10. Oil prices have steadily increased since the political turmoil in the Middle East started a few weeks ago. “Oil prices may surge to $220 a barrel if political unrest in North Africa halts exports [...]
The World’s Biggest Crude Oil Producers in 2009
For the first time since 1991, Russia beat Saudi Arabia to become the the world’s biggest producer of crude oil in 2009. Russia’s average output was 10.0 million barrels per day compared to 9.7 million barrels by Saudi Arabia. The Top 10 Global Crude Oil Producers in 2009 Source: Euromonitor International from BP Statistical Review [...]
11 National Oil Companies
Unlike Integrated Oil Companies (IOCs) such as BP(BP), Royal Dutch Shell (RDS.A, RDS.B), TOTAL (TOT) and others, National Oil Companies (NOCs) are majority-owned by the state. For example, the Norwegian government is the largest shareholder in Statoil (STO), the country’s largest oil company. The state owns 67% of all outstanding shares of Statoil. Some consider [...]
Professor: More Oil Spills to Come
Recently the Insurance Journal published an interesting article on oil spills and some of the issues that are ignored in the mainstream media when discussing BP’s Deepwater Horizon spill. From the article: “The Deepwater Horizon oil spill in the Gulf of Mexico is not simply a random accident. There will be more of these spills [...]
