By Jason Simpkins Belarus eased some of the tensions with Russian oil-and-gas giant, Gazprom, Friday, by paying off part of its debt. Belarus has reportedly paid $190 million of its $456 million dept to Gazprom. The deal was a source of major relief throughout the European Union. The Gazprom-Belarus disagreement started over a supply contract negotiated […]
By Jason Simpkins Two international oil companies yesterday (Thursday) reported a drop in second-quarter profits, while a third announced it was selling assets. French energy company Total (NYSE: TOT) reported a slight drop in second quarter profits. Net income fell to $4.66 billion, a 1% decline from the $4.7 billion taken in a year ago. Shares of […]
By Jason Simpkins It appears that rising oil prices will remain a solid bet for investors – at least for the near future. Crude at $80 a barrel may be a reality sooner than we think. Amid swirling concerns about oil supplies, crude oil futures closed at a record $78.21 a barrel on the New […]
A group of U.S. pension funds have leveled pointed criticisms at several oil and gas companies for their involvement in Iran's energy sector.
Europe cant rely on Russian gas sources anymore and must look to other countries like Libya and Algeria
Just weeks after two U.S. oil giants were forced out of Venezuela, Venezuelan President Hugo Chavez and Mahmoud Ahmadinejad, President of Iran, are forging multi-billion oil deals that will further cement relations between the two anti-American nations.&
Building an oil portfolio is a lot more difficult than it used to be. It was easier 30 years ago, back in the 1970s, when oil prices first rose and people began thinking about how to build portfolios that would take advantage of this "developing" energy sector.
In an effort to cut its holdings of the U.S. dollar, Iran has asked Japanese refiners to begin using the yen to pay for imported crude oil.
The soaring prices of crude oil and gasoline are just part of a broad-based worldwide boom in commodities that is being driven by the full-fledged economic emergence of China, India and some other key global markets.
By Jason Simpkins Violence in Nigeria and concerns that U.S. refiners are struggling to produce enough gasoline helped crude oil prices rise again last week, moving the price of this key commodity closer to its all-time high of $78.65. And now some analysts are predicting that $80 a barrel crude oil is well within reach. […]
Gasoline prices have fallen sharply in recent weeks and are now about 23 cents a gallon below an all-time record high set in May. But crude oil prices steamed their way to a 10-month high on Monday.
By unilaterally stripping away the Venezuelan oil holdings of both Exxon Mobil Corp. and ConocoPhillips, Venezuela President Hugo Chavez has essentially bid adios to future investments by foreign corporations.
Investors had feared that the Nigerian Oil Strike would be a long work outage, causing overblown oil prices instead of spiking energy prices.