Tag Archives: oil
United States government data shows that China has knocked the United States from its top spot as the world’s biggest net importer of oil. The country’s fast-growing economy, as well as the rise in car sales, has led to its … Continue reading
China Petrochemical Corporation, also known as Sinopec, has agreed to buy a 33% stake in the Egyptian oil and gas business of United States firm Apache Corporation. The deal is the latest in a series of similar moves by Chinese … Continue reading
The possibility of military action against Syria has continued to shake up global markets. The price of oil, which has soared this week, steadied throughout today’s afternoon.
Mexican government plans to open up its state run oil industry to private investment. A source of national pride, Mexico‘s oil industry has been protected from private involvement for 75 years.
Oil firm TransCanada has unveiled plans to build a pipeline from western Canada to the country’s Atlantic coast, as its plans for a United States pipeline remain stalled. That would replace oil imported to eastern Canada, with a leftover surplus … Continue reading
Russia‘s Rosneft agreed yesterday a $270 billion deal to double oil supplies to China. The Russian energy giant shifts its focus to Asia from saturated and crisis-hit European markets.
Shale oil and gas reserves are expected to have a huge impact on the world‘s energy markets. According to United States government, estimated global reserves of shale oil could increase total world crude resources by 11%.
Gold has fallen to its lowest level in two years, while wider commodity prices have also declined following disappointing Chinese economic data. Meanwhile, oil prices fell to four-month lows, with Brent crude down $2.29 to $100.75 a barrel, and the … Continue reading