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Daily Energy Market Overview, Monday, July 11, 2011
Crude oil prices dropped more than a dollar on Monday on the back of renewed concerns over demand in the wake of the euro zone debt crisis, which could spread to Italy, and a drop in Chinese crude imports, which plunged 11.5% in June year-on-year to 4.8 million barrels per day, their lowest level in eight months.
read more... 11/07/2011
Exxon to make new oil and gas discoveries in the Gulf of Mexico
Two big oil and a natural gas discoveries were made in the Gulf of Mexico, emphasizing again the importance of this basin for the US crude oil production. Previously, oil and gas exploration operations were frozen by the U.S. government following a blowout at the BP Macondo well last year.
read more... 08/07/2011
GE won a $45 million oil rig contract
General Electric Co. won a 45 million dollars contract as to provide services for Chevron deep water oil drilling rig in the Gulf Coast.
read more... 07/07/2011
Kazakhstan to boost its oil exports
The construction of an oil pipeline started on Friday in Kazakhstan that will lead to an increase in oil exports from an oil field owned by the major energy company Chevron Corp. It marked the start of work enhancing the Caspian Pipeline Consortium route in the Western part of Kazakhstan.
read more... 05/07/2011
Exxon Mobil says oil leaked into Yellowstone River
Exxon Mobil Corp. announced a leak of about 1,000 barrel of crude oil into the Yellowstone River in Montana on Saturday, with 1 barrel of oil equivalent to 42 gallons (163 liters).
read more... 04/07/2011