AME Info News - Energy, Oil and GasEnergy, Oil and Gas latest news and featuresOil drops below $145- July 5, 2008 Oil has shed $1, dropping below $145 a barrel on Friday, Reuters has reported. The drop was attributed to responses to Iran's statement, saying it would make a response to proposals from six world powers to try to resolve a long-running dispute over its nuclear development programme. AMEInfo.comhttp://www.ameinfo.com/162481.html Oil hits $145- July 3, 2008 Oil roared past $145 per barrel for the first time Thursday boosted by a weak US dollar and Middle East tension, reported AFP. Brent North Sea crude for August delivery hit $145.11 in early Asian trade, before easing back to $144.90. AMEInfo.comhttp://www.ameinfo.com/162431.html Oil will hit $150, says Russia's president- July 3, 2008 Dmitry Medvedev, the President of Russia, the world's second-biggest oil producer, said that he expects crude oil prices to rise to $150 a barrel and retard global growth, reported Reuters. The Russian president described OPEC's influence as exaggerated, saying that the organization's decisions don't always have a long-term impact on oil prices. AMEInfo.comhttp://www.ameinfo.com/162428.html Oil hits new highs- July 3, 2008 Oil prices climbed above $144 a barrel in London on Wednesday after data revealed a drop in stockpiles of US crude. Brent North Sea crude oil for August delivery jumped $3.98 to trade as high as $144.65 a barrel. New York's main oil futures contract, light sweet crude for August, leapt to an intraday record of $143.91 just before the close of trade. AMEInfo.comhttp://www.ameinfo.com/162363.html Qatar's natural gas output jumps 17.9%- July 2, 2008 Qatar's natural gas production totalled 59.8bn cubic metres in 2007 from 50.7bn cubic metres in 2006, an increase of 17.9%, according to the 2008 BP Statistical Review of World Energy. The country's proven reserves were at 904.06 trillion cubic feet at the end of last year, accounting for 14.4% of the world total. The Russian Federation had 25.2% of global proven reserves, followed by Iran with 15.7%, reported the Peninsula. AMEInfo.comhttp://www.ameinfo.com/162258.html |