February 2010
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News from February 2010

Where are crude oil prices heading next week?

Where are oil prices heading next week? Crude oil prices recently mounted a short term rally last week were trading near the $80 mark but then later pulled back just as quickly. The inability for Light crude oil futures to hold above $74 suggests that oil prices are still in a consolidative, or corrective [...]

Marchant warns oil now scarce commodity, shortages by 2020

UK drivers need to start treating oil as a scarce commodity and switch to greener transport to avoid crude oil shortages by 2020, according to Ian Marchant, the chief executive of one of the UK’s top companies.
Ian Marchant, who heads the £10bn Scottish and Southern energy, is among a group of corporate leaders warning that [...]

OPEC member Iran begins drilling oil well in Caspian Sea

OPEC member country Iran has begun drilling its first exploratory oil well in the Caspian Sea, in a bid to explore energy resources in the oil reach waters. “The Amir-Kabir semi-submersible drilling rig has started exploration drillings in the Caspian Sea. It will drill the country’s first exploratory well at a depth of 1,550 meters [...]