Word: bbl
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
CNOOC, for example, signed a deal two years ago to extract 1 million bbl. of oil a day in Indonesia, and a year ago, it signed a major contract to produce gas in Australia. In February, President Hu Jintao traveled to Gabon hoping to secure deals in Africa, and in June he led a delegation from China's natural-gas industry to Uzbekistan. Chinese oil executives have even begun courting Ecuador and Colombia. "Latin Americans feel frustrated that the U.S. has virtually ignored the region, so turning to China is prudent and will pay financial dividends down the line," says...
...China's import requirements will continue to rise--putting upward pressure on world crude prices. If China's oil demand keeps growing an average 7% a year, as it has since 1990, in less than 20 years the country will consume 21 million bbl. of oil a day, matching current U.S. consumption. "The world has the oil," says Chen Huai of China's Development Research Center, a think tank in Beijing run by China's Cabinet, "and China has the money." The question is, how much is China--and the world--willing to pay for it? --With reporting by Susan...
...INDICATORS Two Steps Forward ... Royal Dutch/Shell announced plans to merge its twin holding companies and their boards into one Netherlands-based firm, part of the restructuring prompted by its January reserves booking scandal. But the Anglo-Dutch oil major also said that a further 900 million bbl. of reserves were under review...
...endgame for Yukos, Russia's biggest oil producer. One year after authorities arrested founder Mikhail Khodorkovsky, the Kremlin is seeking to recoup at least $4 billion in taxes by forcibly selling the firm's main asset, Yuganskneftegaz, which controls vast Siberian oil fields. The subsidiary, which pumps 1 million bbl. of oil per day - about 60% of Yukos' output - has been valued by Dresdner Kleinwort Wasserstein at between $14.7 and $17.3 billion. Reports last week suggested the Kremlin might hand it to a Russian rival, Gazprom, for a fraction of that price. "It's robbery in broad daylight," complains Robert...
...create a buffer zone along the border. Palestinian militant group Hamas said it would continue its rocket attacks. Oil on Troubled Waters NIGERIA A truce between the government and Niger Delta rebels calmed fears of regional unrest that had helped send oil prices spiraling to more than $50 per bbl. The Niger Delta People's Volunteer Force said it would disarm after the government agreed to discuss its demands for greater regional autonomy and a share of oil wealth. The NDPVF rescinded an Oct. 1 deadline for foreign oil workers to leave. Grower Pains PERU Riot police stormed an Inca...