This news caught traders by surprise, and there may be nothing more prone to outright speculation right now than world oil petroleum supplies.
Even synthetic lubricating oil is derived from actual petroleum oil.
ConocoPhillips refines crude oil into petroleum products such as gasoline, distillates and aviation fuels.
This unit also includes the buying, selling and transporting of crude oil and petroleum products.
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The EU said the sanctions prohibit the import, purchase and transport of Iranian crude oil and petroleum products as well as related finance and insurance.
Growth in U.S. real imports slowed to about 3 percent in 2006, in part reflecting a drop in real terms in imports of crude oil and petroleum products.
This will come as a surprise to many, but in the past four years U.S. oil and petroleum exports have reached four consecutive record highs--at least since the early '80s.
There currently appears to be sufficient supply of non-Iranian oil to permit foreign countries to significantly reduce their import of Iranian oil, taking into account current estimates of demand, increased production by countries other than Iran, inventories of crude oil and petroleum products, and available strategic petroleum reserves.
The commission set up after the 2010 British Petroleum oil spill is one such example.
Oil firm Dana Petroleum is bringing new wells into production in Egypt, after a successful drilling campaign.
Oil firm Dana Petroleum has been cleared by Egyptian officials to set up a new joint venture in the country.
Rising worldwide demand for energy at prices that sustain investment has resulted in higher sales of engines used in oil drilling and petroleum applications.
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Place a tariff on imported crude oil and finished petroleum products.
There are a bevy of big publicly traded oil and gas companies looking for CEOs including Marathon Oil and Occidental Petroleum, Bill Barrett and Encana.
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Potential oily takeover targets include Tullow Oil and Anadarko Petroleum.
Allow early payment of Winter Fuel Allowance to pensioners whose homes are not connected to the mains grid, and instead use oil, liquid petroleum gas or propane gas for heating.
The bill would allow for the early payment of the winter fuel allowance to people whose homes are not connected to the mains gas grid and whose principal source of fuel is home fuel oil, liquid petroleum gas or propane gas.
Aberdeen-based oil and gas firm Faroe Petroleum has cut its losses and has increased the amount of oil it expects to produce this year.
Norway is salting away a big chunk of its oil income in a State Petroleum Fund to help pay the pensions of its ageing population when oil and gas production tails off.
On his second visit to the kingdom this year, the American leader met Saudi King Abdullah on Friday to renew his appeal for more oil from members of the Organization of Petroleum Exporting Countries to tame record oil prices.
Back when the U.S. government ran the giant Elk Hills oil fields in California as a national petroleum reserve, the funding for individual oil wells had to be approved by Congress.
There are reports that the administration is considering releasing oil from the Strategic Petroleum Reserve.
Also on deck for the week are two larger nontech deals: oil exploration company Midstates Petroleum Co.
The "get Bush" crowd advocates releasing oil from the strategic petroleum reserve in order to bring market prices back down.
And second, does it lessen the chances of a triggering of the withdrawal of oil from the Strategic Petroleum Reserve?
One reason is that with higher oil prices, the petroleum derivatives that Ecuador imports to make petrol for domestic use are now costlier too.
Big U.S.-traded Chinese oil companies followed the petroleum market on Friday night higher on hopes that global economic growth will benefit from increased European cooperation.
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Several Democratic members of Congress have asked the President to consider releasing oil from the Strategic Petroleum Reserve to keep prices from rising too much.
President Bush could help to once and for all pop the oil-price bubble by selling oil from the Strategic Petroleum Reserve on a more regular basis.
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