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WASHINGTON - Wary of a new surge in gas prices, the Obama administration said Thursday it is releasing 30 million barrels of oil from the country's emergency reserve as part of a broader international response to lost oil supplies caused by turmoil in the Middle East and North Africa, particularly Libya. The release from the U.S. Strategic Petroleum Reserve will be the largest ever, amounting to half of a 60 million-barrel international infusion of oil planned for the world market over the next month.
WASHINGTON - Wary of a new surge in gas prices, the Obama administration said Thursday that it was selling off 30 million barrels of oil from the country's emergency reserves as part of a broader international response to lost oil supplies caused by turmoil in the Middle East and North Africa, particularly Libya. The release from the U.S. Strategic Petroleum Reserve will be the largest ever, amounting to half of a 60 million-barrel international infusion of oil planned for the world market over the next month.
View AP video about oil g ONLINE at wvgazette.com NEW YORK - Oil prices soared to the highest level in more than two years as Libyan leader Moammar Gadhafi urged his supporters to attack protesters who are violently challenging his 42-year rule. Only a small part of Libyas oil production appeared to be affected, though analysts fear similar revolts will spread to OPEC heavyweights like Iran. Benchmark West Texas Intermediate for April delivery jumped $5.71, or 6.4 percent, to settle at $95.42 per barrel on the New York Mercantile Exchange. Oil hasnt been that high since it settled at $97.92 on Oct. 1, 2008. Retail gasoline prices in the U.S. held steady overnight at a national average of $3.171 per gallon. Libya holds the most oil reserves in Africa and is the worlds 15th-largest crude ...
... of natural gas, crude oil, and petroleum products in the world. The report includes operati... in five regions- Asia- Pacific, Europe, Middle East and Africa, North America, South and Central ...
...Arik Air, West Africa's largest commercial and Africa's fastest growing ...Europe, Middle East and Africa expect flatter overall pricing A t... & Consumer Products, 32%; Chemical & Petroleum, 19%; Coal, 17%; and Agriculture & Minerals, 11%. ...
... of natural gas, crude oil, and petroleum products in the world. The report includes operati... in five regions- Asia- Pacific, Europe, Middle East and Africa, North America, South and Central ...
IMAGINE a world in which the vast American breadbasket was laying fallow and we were forced to import wheat, corn and other grains -- from places such as Russia, China and Pakistan, three of the top wheat producers in the world. Every time a political or natural earthquake strikes in those or other major wheat-producing regions, bread and bagel prices will spike, there will be gnashing of teeth among the great powers in Washington, and communities in Iowa, Kansas, and the other grain-producing states will be demanding we accelerate use of domestic grains and reduce dependence on Kazakhstan and Iran. This is a rough approximation of where we find ourselves as we try to deal with the geopolitics of North Africa and the Middle East, and dependence on OPEC for energy. According to the U.S. ...
... we import from our two largest foreign petroleum sources, Canada and Mexico, 65 percent of our rema...
... East and Africa LNG Majors 7.1 Qatar Petroleum 7.2 Nigerian National Petroleum Corporation 7.3 So...
... of Britain's largest company British Petroleum (BP). BP's mission statement includes the followin... bank leading the way in Asia, Africa and the Middle East." . 22 BG Group--"Our focus is...
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