Minister under pressure from rising oil prices, low oil output
The Finance Ministry is indicating that it may submit a draft revision to the 2012 state budget sooner than planned due to the rising price of crude oil and national oil production falling below expectations. Finance Minister Agus Martowardojo said on …
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Higher oil prices help ConocoPhillips boost 4Q profit despite production declines
NEW YORK — Higher oil prices are making it easier for ConocoPhillips to complete a massive transformation this year. The Houston energy company said Wednesday that its profit rose 66.1 percent in the fourth quarter even as it produced less oil.
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Azerbaijani oil prices up on Feb. 3
3, the price of AZERI LT CIF Augusta was $ 116.14 per barrel, or $ 0.84 per barrel more, compared to the previous day's price, according to the State Oil Company of Azerbaijan (SOCAR), which has produced Light Oil since 1997. Azeri Light oil is produced …
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