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Oil falls below $94 a barrel after supplies rise

16/05/2013
The price of oil fell below $94 a barrel Thursday after a survey showed crude inventories on the increase.
Benchmark oil for June delivery was down 82

North Dakota Bakken Crude Output Rises to Record in March

16/05/2013
North Dakota’s Bakken, one of the shale formations boosting U.S. oil production to 20-year highs, saw output rise to a record in March.

Petrobras buys the most blocks and offers the biggest signature bonus in the ANP 11th Round

16/05/2013
Petrobras announces that yesterday it acquired the most blocks offered in the 11th Bid Round held by the

Norwegian April crude output falls 9% on year to 1.503 million b/d: NPD

16/05/2013
Norwegian crude production in April fell 8.7% to 1.503 million b/d compared with 1.646 million b/d for the same period last year, according

Do upstream costs justify high oil prices?

16/05/2013
Ever since the price of oil began to rise strongly from 2003 onwards, the idea began to gain traction that upstream costs were behind these increases.

EIA: Summary of Weekly Petroleum Data for the Week Ending May 10, 2013

16/05/2013
U.S. crude oil refinery inputs averaged about 15.3 million barrels per day during the week ending May 10, 2013, 73

Russian Oil Duty Set to Drop 5% in June After Urals Crude Fell

16/05/2013
Russia, the world’s biggest energy exporter, will probably reduce duties on most oil shipments abroad by 5 percent on June 1 after Urals

Azerbaijan Pumps Less Oil, Natural-Gas in First Four Months

16/05/2013
Azerbaijan, the third-largest oil producer in the former Soviet Union, pumped less crude in the first four months

Statoil awarded 6 licences offshore Brazil

16/05/2013
Statoil was the highest bidder on 6 licences in Brazil's 11th licensing round, the first licensing round in the

PIRA Energy Group's Weekly Oil Market Recap for the Week Ending May 12th, 2013

16/05/2013
NYC-based PIRA Energy Group reports that crude price differentials between onshore and offshore grades

BP Wins Eight Deepwater Exploration Blocks in Brazil Round 11

16/05/2013
BP and partners Total, Petrobras and Petrogal were yesterday named winning bidders for eight deepwater

U.S. to Surpass Russia as Largest Non-OPEC Oil Producer

16/05/2013
Thanks to a boom in domestic shale oil production, the U.S. is on pace to overtake Russia as the world’s

EU Oil Manipulation Probe Shines Light on Platts Pricing Window

16/05/2013
Two weeks after Royal Dutch Shell Plc (RDSA) and Platts changed the way more than half of the world’s crude

France Seen Pushing Oil Explorers Away on Lack of License Awards

16/05/2013
France’s failure to grant oil and gas exploration permits risks driving operators to other countries, a lawyer

Australian oil, gas industry slams proposed cash bidding system

16/05/2013
The Australian oil and gas industry has slammed plans announced by the Labor government of Prime Minister Julia

Oil Minister: Iran Still Holding 2nd Production Rank in OPEC

15/05/2013
Iranian Oil Minister Rostam Qassemi underlined that Iran is still the second largest crude producer in the Organization of Petroleum Exporting

Weak German growth drags oil below $94

15/05/2013
The price of fell below $94 on Wednesday after Germany, Europe's largest economy, reported anemic growth for the first quarter. Benchmark oil for June

MOL CFO Sees Average Brent Oil Price $100-$110 A Barrel in 2013

15/05/2013
Hungarian oil and gas company MOL Nyrt. (MOL.BU), Hungary's largest oil and gas firm by assets and market share,

Brazil gets strong bids at 1st oil, gas auction in 5 yrs

15/05/2013
Global energy companies were strong bidders at Brazil's first auction for oil and natural gas rights in five years, alleviating fears that government

Turkey's State Oil Company To Develop Oil Projects In Kurdistan With Exxon -Erdogan

15/05/2013
Turkey's state-run oil firm has struck an agreement with U.S. oil giant Exxon Mobil Corp. to develop joint
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