Posts Tagged ‘conflict’

Brent nears $111 on uptick in China economy

by on November 22, 2012 5:02 am BST
China's vast manufacturing sector saw expansion accelerate in November for the first time in 13 months, while a lower than expected drop in US oil inventory also boosted crude prices, Reuters stated.However, supply risks diminished after Israel and the Islamist Hamas movement agreed on Wednesday to an Egyptian-sponsored ceasefire

Crude rises on fire, Mideast fighting

by on November 16, 2012 11:23 pm BST
News of the fire at a Black Elk platform in morning US activity helped crude extend early gains, although the Coast Guard later said the platform had not been producing oil at the time of the fire, which helped calm market jitters. Two workers were missing and at least four

Repsol ‘closing in’ for Libya drill

by on November 9, 2012 3:29 pm BST
"We have ordered a new drilling rig and we will start as soon as that arrives, probably early next year," said a Repsol executive on the sidelines of the North Africa Oil & Gas conference, according to Reuters.A Repsol spokesman said the first drilling would be in the

Shell to meet Iraq oil field target

by on September 19, 2012 8:27 am BST
Shell to meet Iraq oil field targetBY HASSAN HAFIDHHOUSTON -- Royal Dutch Shell said its Majnoon oil field in Iraq is still likely to meet a key production target by the end of this year, despite a series of setbacks that have hampered its development.Shell said the preliminary mechanical work