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 …
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 …
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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 …
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 …
The BP Deepwater Horizon oil spill has triggered outrage among the general public and may lead to heightened regulatory environment for the offshore drilling industry. Already the Obama administration has suspended shallow-water drilling in the Gulf of Mexico until producers resubmit plans to meet the revised safety and environmental rules. In the months and years …
Continue reading ‘IHS CERA: The Role of Canadian Oil Sands in U.S. Oil Supply’ »