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Report: Falling oil prices impede further development of Canadas Kearl oil sands project

2016-06-24 01:00:00| Hydrocarbons Technology

The existing uncertainty in the global oil market coupled with high-supply costs of mining projects has resulted in the delay of phases three and four of Canadas Kearl oil sand project, says a GlobalData report.

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Oil prices rise as markets await opinion polls on Brexit

2016-06-23 01:00:00| Offshore Technology

Oil prices have increased with money and equity markets awaiting opinion polls on Britons remaining in the EU in today's referendum on membership.

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Oil prices rise after API reports fall in US crude inventories

2016-06-22 01:00:00| Offshore Technology

Oil prices have increased above $50 a barrel after a report by the American Petroleum Institute (API) highlighted a fall in US crude inventories.

Tags: reports prices fall oil

 

Low Oil Prices Fuel Reconsideration Of Petroleum Reserves

2016-06-21 10:48:00| Climate Ark Climate Change & Global Warming Newsfeed

National Public Radio: The U.S. Department of Energy is considering the future of a public asset worth tens of billions of dollars: the Strategic Petroleum Reserve. The SPR was created after a 1973-74 oil embargo of the United States and other countries. Arab oil-producing countries stopped selling crude to the U.S. because they were upset over its support for Israel. The embargo led to steep price increases, rationing and long lines of frustrated drivers at gas stations. The purpose of the reserve is to prevent...

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Oil prices drop due to investors' Brexit fears

2016-06-21 01:00:00| Offshore Technology

Oil prices have faltered due to investors' continued uncertainty ahead of Britain's referendum this week on its withdrawal from the EU.

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