Posts Tagged ‘Barel’
Oil prices again rose up to be over $ 80 per barrel in trading on Friday (10/01/2010) in Asia. This is because market players are optimistic U.S. economic recovery is going well.
Benchmark oil for November delivery rose 34 cents to $ 80, 31 per barrel at midday in Singapore time in electronic trading on the New York Mercantile Exchange. As for long-term contract, also rose $ 2, 11 for and is in the level of USD79, 97 on Thursday U.S. time.
Investors who used to play in the oil seems to believe in the U.S. economy will grow, where the positive unemployment data and manufacturing activities to mark the passage of the economic recovery.
The U.S. government also increased the estimate of second quarter on growth in gross domestic product (GDP) to 1.7 percent from 1.6 percent previously.
In addition, the Energy Information Administration also announced that it has been a decline in crude oil inventories of 500 thousand barrels last week. It also seems to push the optimism of investors. Read the rest of this entry »
Crude oil prices trading at USD74 per barrel after experiencing the highest increase in the relevant month of manufacturing in the U.S. and China, two countries of the world’s largest energy users, speeding faster than expected in August.
Oil prices climbed 2.8 percent yesterday and U.S. stocks have rebounded from the biggest fall since August after nine years at the factory index from the Institute for Supply Management (ISM) which is based in Arizona rose to 56.3 from 55.5 in July.
Oil prices rose even as the U.S. Energy Department reported that U.S. crude supplies rose almost three times what analysts estimated last week. “ISM surprise everyone. Broker energy as a barometer of the manufacturing sector to become the economic and demand, “said Vice President of Research Phil Flynn, on PFGBest in Chicago.
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PT Pertamina (Persero) to provide budget funds worth $ 500 million each year to develop offshore blocks in north west java (ONWJ) that have been purchased from BP Indonesia in July 2009.
ONWJ is one of the PSC (Production Sharing Contract), the oldest in the world. The program works great with the budget (budget) approximately $ 500 million each year, large sums of money because the character ONWJ working area off the coast so assessed need offshore infrastructure is very complex.
In addition, ONWJ also a large includes 10 largest oil producers in Indonesia. Increased production from the initial production ONWJ which only 20 thousand bpd (barrels per day), now increased to 30 thousand bpd has been achieved by PT. Pertamina Read the rest of this entry »