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Further tensions with Iran’s nuclear activity.
Tensions over bomb making nuclear activity continue between Teheran and the U.S. as more companies abandon their activities in Iran each day due to pressure. Although earlier this year European major oil companies said they would not renounce to their activity in the country, four of them will retreat from Iran, announced Thursday the U.S. Deputy Secretary of State James Steinberg.
read more... 05/10/2010
Iraq increases estimate oil reserves.
The oil minister of Iraq declared that it has increased its estimate of the oil reserves to 143.1 billion barrels, a 24 percent rise. Although many analysts think that this number may be inflated for a variety of reasons.
read more... 05/10/2010
Daily Energy Market Overview 10.04.2010
Oil was up on Monday, hitting two months high. At 13:31 GMT, U.S. crude increased by $0.37 to $81.95 per barrel, after registering $82.21 per barrel earlier. ICE Brent crude climbed to $84.32 per barrel, being traded at $84.01 per barrel.
read more... 04/10/2010
Daily Energy Market Overview 10.01.2010
Oil was up back above $80 on Friday. At 06:45 GMT, U.S. crude for November increased $0.63 to $80.60 per barrel, while ICE Brent for November climbed $0.66 at $82.97 per barrel.
read more... 01/10/2010
Exxon started extracting Russian oil.
Oil production has begun from the Odoptu field at the Sakhalin-1 project in offshore northeastern Russia, on schedule and within the projected costs. It is expected to add up to 11 million barrels to oil production in 2011
read more... 01/10/2010