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Oil surges amid geopolitical jitters

Article Abstract:

Petroleum prices are surging above $66 per barrel, up by 8.6 percent due to political tensions in Nigeria and Iran. In Iran, the diplomatic battle over nuclear ambitions and in Nigeria an insurgency are cutting oil production. Analysts predict world petroleum markets to continue to roil for most of 2006.

Forecasts, trends, outlooks, Nigeria, Iran, Industry Overview, International aspects, Political aspects, Industry forecasts, 2006 AD

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Oil producers gain global clout from big windfall

Article Abstract:

As petroleum prices soar, oil exporters like Saudi Arabia are taking a conservative turn by saving or investing revenue in Europe or the United States. This strategy is keeping the United States economy growing, as Americans continue to spend while borrowing moneys from overseas.

Saudi Arabia

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Rosneft reports proven reserves increased by 18%

Article Abstract:

Rosneft of Russia reports that oil and gas reserves have increased 18 percent to 18.94 billion barrels last year. The petroleum giant is to launch an initial public offering that Russian officials expect will raise $15 billion to $20 billion.

Production data, Russia, Going public (Securities), Initial public offerings, Company public offering, Rosneft, Company overview

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