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Breaking News:

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A Bear’s Guide To Oil Markets

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News

Nigeria, Iran Battle for OPEC's No.2 Position

Nigeria, Iran Battle for OPEC's No.2 Position

Jul 27, 2011 at 22:52 | Charles Kennedy

Iran retains its position as the second-largest producer in the Organization of Petroleum Exporting Countries, despite a recent OPEC report that Nigeria moved from the organization’s third to second place,…

Rwanda to Privatize Methane Gas Plant

Rwanda to Privatize Methane Gas Plant

Jul 27, 2011 at 22:51 | Charles Kennedy

Rwanda’s government is negotiating with an Israeli firm to lease its pilot methane plant on Lake Kivu in western Rwanda in an effort to increase the plant's electricity production capacity.…

Colombian Oil Workers Disrupt Production, Army Sent In

Colombian Oil Workers Disrupt Production, Army Sent In

Jul 27, 2011 at 22:48 | Joao Peixe

Striking Colombian oil workers last week disrupted production at Canadian Pacific Rubiales Energy Oil Company’s Campo Rubiales facility. The company estimates that production losses have amounted to 177,000 barrels of…

Romania's Attempt to Sell Minority Stock in Petrom Fails

Romania's Attempt to Sell Minority Stock in Petrom Fails

Jul 27, 2011 at 22:47 | Joao Peixe

Romanian President Traian Basescu believes that the government’s recent failed attempt to sell a minority stake in the Petrom oil corporation via a secondary offering, while disappointing, underlined that Romania…

Vietnam’s Prime Minister Approves 10-year National Power Plan

Vietnam’s Prime Minister Approves 10-year National Power Plan

Jul 27, 2011 at 22:46 | Charles Kennedy

Vietnamese Prime Minister Nguyen Tan Dung has approved an ambitious decade-long national power development plan that will attempt to boost Vietnam’s power production to 330 billion kilowatts by 2020. Under…

Mexico’s Pemex Now Third Largest Stock Holder in Repsol

Mexico’s Pemex Now Third Largest Stock Holder in Repsol

Jul 26, 2011 at 21:16 | Charles Kennedy

Mexico's Petroleos Mexicanos state oil monopoly, more familiarly known as Pemex, recently bought 825,150 shares in Spain’s Repsol YPF, S.A., increasing its stake in the Spanish company to 5 percent.…

Kenya to Begin Power Rationing on 27 July

Kenya to Begin Power Rationing on 27 July

Jul 26, 2011 at 21:15 | Joao Peixe

East Africa's drought has brought down water levels at Kenya's power dams, forcing power companies to ration it. Nairobi, the Rift Valley, and western Kenya will see the worst blackouts.…

Poland Still Supports Ukraine’s Oil Pipeline

Poland Still Supports Ukraine’s Oil Pipeline

Jul 26, 2011 at 19:36 | Joao Peixe

During a visit to Azerbaijan Polish President Bronislaw Komorowski declared that the Odessa-Brody-Gdansk crude oil pipeline project was still realistic while Azeri President Ilhman Aliyev said that Azerbaijan had gas…

Deal Signed for Vietnam’s Mong Duong Power Plant

Deal Signed for Vietnam’s Mong Duong Power Plant

Jul 26, 2011 at 19:35 | Joao Peixe

The US-invested developer of the $2.1-billion Mong Duong 2 thermal power plant in the northern province of Quang Ninh has signed an adjusted build-operate-transfer contract with Vietnam’s Ministry of Industry…

Tajikistan to Export Electricity to Afghanistan

Tajikistan to Export Electricity to Afghanistan

Jul 26, 2011 at 19:34 | Charles Kennedy

According to Tajik first deputy minister of energy and industry Pulod Muhiddinov, next month Tajikistan will begin exporting electricity to Afghanistan via the Sangtuda-Pol-e Khomri 220-kilovolt electricity transmission line. Muhiddinov…


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