Integrated oil and gas company Essar Oil Ltd today said it would start selling coal bed methane, or natural gas, extracted from coal seams in West Bengal by the last quarter of the current fiscal (January-March 2009-10).
Crude rose from a two-week low after manufacturing in China, the world’s second-biggest oil user, expanded at the fastest pace in 18 months.
A purchasing managers’ index released by HSBC Holdings Plc today and a government-backed PMI issued yesterday showed that China’s manufacturing grew in October.
The price of gasoline and kerosene on 20 May. Community resulted in price increases to protest to the Philippine oil companies, because gasoline and kerosene prices increase was made during Philippine society is facing catastrophe.
A new U.S. oil pricing benchmark is rapidly taking shape, threatening to further erode the dominance of the Nymex crude futures contract.
Argus Media said Wednesday its Sour Crude Index will be adopted by Saudi Aramco to set prices for oil sold in the U.S., in a move away from a formula tied closely to light, sweet crude futures traded on the New York Mercantile Exchange.
Consumers for the first time this year are paying more on average for a gallon of gasoline than they did 12 months ago, according to data released Tuesday.
The rising price of crude oil, which closed Tuesday at $79.55 a barrel, is putting pressure on gasoline prices.
Oil fell for a second day in New York after an increase in U.S. crude and gasoline inventories raised concern fuel demand has yet to recover.
Oil prices slipped below $81 a barrel Thursday, retreating from a 2009 high, as a wobbly U.S. dollar steadied against other currencies.
Because commodities are traded in dollars, a strengthening U.S. currency makes them more expensive – and less attractive – to international investors.
China Petroleum to expand oil and gas exploration companies to compete with American oil and gas. Expansion of China compete in the oil and gas markets to be realized, because the company will get a share of China drilling in the Gulf of Mexico from a Norwegian oil company.
