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MONDAY, NOVEMBER 23, 2009
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NEWS ABOUT: oil reserves

oil reserves stories: 10 news summaries
MARKETS

 Dow Up 61 After Shaky Day 


Aug 19, 09 3:10 PM CDT
(Newser) - Markets ended higher today after a dismal start, buoyed by an ascendant energy sector, the Wall Street Journal reports. The seesaw comes as no surprise to one strategist: “This market is highly vulnerable to get pushed around right now. That’s a factor of light volume.” The Dow,... More »

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stock market • NASDAQ • New York Stock Exchange • Dow Jones • oil reserves • S&P 500 • oil prices • energy sector

Russia Stops Supplying Gas to Ukraine

Europe worried about supply disruptions if dispute continues

Jan 1, 09 9:35 AM CST
(Newser) - Russia's gas export monopoly has cut off Ukraine's supply over a contract dispute, and has boosted European supply to head off worries about reliability, Reuters reports. The EU gets 20% of its gas from Ukrainian pipelines. Kiev has already tapped the country's reserves, and maintaining the pressure in the supply... More »

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Russia • gas • European Union • Europe • Ukraine • oil supply • oil reserves • gas pipelines

 Arctic Holds 3 Years of Oil 

A fifth of world's untapped reserves may be under melting ice

Jul 24, 08 7:24 AM CDT
(Newser) - Enough oil is believed to lie under the rapidly thawing Arctic to last the world 3 years, Reuters reports. The USGS released a forecast yesterday estimating the region has 90 billion recoverable barrels of oil and vast natural gas reserves. The agency's director said the information was vital in order... More »

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Arctic • Arctic race • oil field • US Geological Survey • Arctic oil • oil reserves

 $6 Gas Possible by Year's End 

With oil near $150 a barrel, experts say $200 is a very real number for 2008

Jul 7, 08 7:38 AM CDT
(Newser) - As oil flirts with $150 a barrel, nearly double its price from last year, the specter of $6 a gallon gas at US pumps has become more real. A plethora of factors—from the threat of conflict with Iran to tight supplies and a weak dollar—continue to exert upward... More »

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gas prices • oil price • oil production • $100 a barrel oil • oil reserves • economy • strategic petroleum reserve

 Hunt Is On for Florida Oil 

2006 compromise opened up protected area; others could soon follow

Jul 5, 08 10:01 AM CDT
(Newser) - The record-breaking price of oil is shifting public opinion toward lifting a moratorium on new offshore drilling, reports the AP. Four companies acquired rights to explore parcels of land off the Florida coast in March, under a 2006 Congressional compromise that opened up 8.3 million acres off the Panhandle... More »

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Florida • oil • gas prices • Bill Nelson • oil production • oil exploration • oil reserves • offshore oil

Ship Shortage Stalls
Offshore Oil Drilling

Oil companies frustrated by inability to exploit new discoveries

Jun 19, 08 3:22 AM CDT
(Newser) - A severe shortage of deep-sea drilling rigs will hold up exploitation of offshore oil for years, the New York Times reports. Existing rigs are booked solid for five years, and shipbuilders around the world are scrambling to fill dozens of new orders. Oil companies are frustrated by their inability to... More »

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ship • oil exploration • oil drilling • oil reserves • oil rig • offshore oil

analysis

 Saudi Oil Boost 
 Little More Than PR 

Adding half-million barrels won't dent prices, analysts say

Jun 18, 08 4:55 PM CDT
(Newser) - Saudi Arabia consenting to increase oil output is more public-relations ploy than problem-solver, Vivienne Walt writes in Time, since the half-million extra barrels a day won't make much of a dent, if the Saudis even have that much to spare. One analyst says the move is really an attempt “... More »

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Saudi Arabia • recession • crude oil • oil reserves

Oil Rockets to $135 on Surprise Supply Decline

Unexpected decline in US oil and gasoline supplies sparks surge

May 22, 08 6:11 AM CDT
(Newser) - A surprise 5.32 million barrel decline in US crude oil stockpiles prompted oil prices to surge past a record $135 a barrel in after-hours New York trading this morning, extending oil's runup to 19% this month, reports Bloomberg. The Energy Department also said yesterday that gasoline stockpiles had declined... More »

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futures contracts • gas prices • oil price • crude oil • oil reserves

 Should Bush Tap Strategic
 Petroleum Reserve? 

Rainy day supply draws debate

Apr 24, 08 11:58 AM CDT
(Newser) - The government is pumping 60,000 barrels of oil a day into a “rainy day” reserve, but with oil prices at a record high, many argue that it’s already raining. That includes the presidential candidates, all of whom want to at least stop adding to the Strategic Petroleum... More »

MORE ABOUT:
Barack Obama • Hillary Clinton • energy • John McCain • oil • oil price • oil reserves • George W. Bush • strategic petroleum reserve

Shell Profits Spike to a Record $27.6B

Critics say the oil giant's earnings are 'obscene' and want a windfall tax

Jan 31, 08 7:55 AM CST
(Newser) - Soaring crude prices and new oil and gas projects drove Royal Dutch Shell to 2007 profits of $27.6 billion—a new record for a British corporation—despite declining production. While critics branded the results “obscene” and called for a windfall tax, Shell’s CEO called them “satisfactory”... More »

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Nigeria • corporate earnings • gas prices • Royal Dutch Shell • Shell Oil • oil reserves

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