The turmoil has driven investors to reassess their portfolios, and while many are still scratching their heads, Chan still sees further gains in 2011. (Read Oil Prices Close To Peak As High Prices Destroy Demand).
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So the long battle to stop the leak and contain the oil is finally close to coming to an end.
Shell, which discovered and started the country's oil well in the late 1950s, has been heavily criticized by activists and local communities over oil spills and close ties to government security forces.
Now, the good news is my administration has already taken several actions to step up oversight of oil markets and close dangerous loopholes that were allowing some traders to operate in the shadows.
In Russia, the days of the country being an oil and gas powerhouse are drawing to a close due to dwindling oil production and lackluster demand for natural gas in Europe.
Workers on a nearby oil platform were evacuated by the US authorities on Monday after the oil slick came dangerously close.
That includes oil fields which are close to starting production, Catcher and Kraken, which will generate cash for further exploration.
For the past three years, crude oil has managed to close higher, , but a lower yearly close is likely in 2012.
Hess has already announced plans sell U.S. oil storage terminals and close a New Jersey refinery as it exits the volatile refining business.
No other oil giant even comes close to this gearing.
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The Democratic effort to launch S.B. 940, known as the Close Big Oil Tax Loopholes Act, would have ended tax breaks for the top five most profitable oil companies.
The widely watched SPDR Gold Trust ( GLD) dropped to its lowest level since last August, and the nearby crude oil contract was down close to 2% during the day.
For years, there has been a scandalously close relationship between oil companies and the agency that regulates them.
WHITEHOUSE: Deepwater BP Oil Spill: Presidential Press Conference
This tenth trading week of 2012 comes to a close with investors keeping a close eye on oil prices and unfolding events in Greece.
BP, the British oil giant, is reportedly close to selling its 50% stake in Russian joint venture TNK-BP to Rosneft, the state-owned oil company.
Unfortunately, the price of oil in constant dollars is close to what it was in the car-happy 1950s, and prices are likely to keep falling.
The report does not rule out other possible contributors to Gulf War illness -- including low-level exposure to nerve agents and close proximity to oil well fires -- though it fails to establish any clear link.
Oil facilities in the region accounted for close to half of Sudan's entire production of about 115, 000 barrels of oil daily before wells were shut down due to the conflict.
If not stock traders, at least oil traders are expecting a future close to the one Tulis envisions.
They argue that, barring an immediate collapse in oil prices, Venezuela will be close to fiscal balance this year.
It's also selling U.S. oil storage terminals and plans to close a New Jersey refinery as it exits the volatile refining business.
He also estimates increased transportation costs at a dollar a barrel--another reason to keep refineries close to where crude oil is pulled from the ground.
Hess, based in New York, has already announced the sale of U.S. oil storage terminals and plans to close a New Jersey refinery as it exits the volatile refining business.
The facility is key to pumping oil out of the fields, which accounted for close to half of Sudan's entire production of about 115, 000 barrels of oil per day before wells were shut down due to the conflict.
CNN: South Sudan says it is withdrawing from disputed oil region
We're not even close to running out of oil, as many in the 1970s feared.
This year's prices have also fueled concern that the world may be close to running out of oil.
More likely, say others close to Opec, the oil cartel is a differently composed, more economically sophisticated organisation than it was 25 years ago.
The oil sector could also get hit hard, with Iran potentially mining the Persian Gulf and attempting to close the Straits of Hormuz, putting a stranglehold on oil flow, Shepperd says.
Upstream business was relatively solid, with U.S. net oil-equivalent production during the first two months of the quarter coming in close to its Q3 numbers: the company produced 660 million barrels of oil equivalent (mboed) through November.
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