Energy: news headlines for Monday 18th April 2011

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Energy: news headlines for Monday 18th April 2011


  • AFP – Secretary general of OPEC Abdullah El-Badri said on Monday that oil producers are “concerned” at high crude prices and added that markets are adequately supplied.
  • AP – Oil prices fell to near $109 a barrel Monday in Asia as gasoline jumped to average $4 a gallon in six U.S. states, raising fears higher fuel costs will undermine crude demand.
  • AP – Add New York to the growing list of states where gas prices are topping $4 per gallon.
  • AP – Human rights lawyers say authorities in the United Arab Emirates have detained a fourth activist for advocating democratic reforms in the oil-rich Gulf nation.
  • ContributorNetwork – COMMENTARY | I have the misfortune to live in Connecticut, one of the five states with gas prices currently over $4 a gallon. Nationwide the average price is $3.81 a gallon. Hawaii, Alaska, California and Illinois are the other states with gas over $4. Luckily for me, the closest gas station to my home is actually in Massachusetts, where the gas is currently around $3.79 a gallon.
  • ContributorNetwork – A year ago Wednesday, the U.S. was hit with what was to be the worst oil spill in American history. On April 20, 2010, at about 10 p.m. CDT, British Petroleum’s (BP) Deepwater Horizon drilling rig located in the Gulf of Mexico off of Louisiana exploded and began gushing crude oil into the Gulf’s warm waters and continued to do so until it was capped on July 15 and officially sealed on Sept. 19. Over the span of the spill it poured up to 4.9 million barrels into the water, making it the second worst oil spill in the world and the worst in U.S. history.
  • AFP – The oil cartel OPEC forecast on Saturday negative growth in Japan this year after the March 11 earthquake disaster, but IMF economists said all depends on the restoration of power supplies.
  • AFP – Another Emirati rights activist has been arrested, bringing to four the number jailed in the oil-rich Gulf state in the past month, a group of Gulf intellectuals said on Saturday.
  • AP – A Qatari state-controlled gas producer said Saturday it has agreed to send Japan more than 60 extra tanker shipments of liquefied natural gas to help power the Asian nation in the wake of its tsunami disaster.
  • Reuters – Oil rose on Friday, with Brent crude surging past $123 a barrel, as improving U.S. consumer confidence and industrial production eased concerns about rising fuel costs.
  • Investor’s Business Daily – Federal regulators on March 18 gave the nod to Houston-based ATP Oil & Gas (NASDAQ:ATPG – News) to restart work put on hold by the offshore drilling moratorium imposed after last year’s Gulf of Mexico oil spill.
  • AP – Oil prices climbed again on Friday on positive economic news. Gas pump prices now average $4 or more in at least five states.
  • Reuters – Hundreds of Saudi Shi’ites protested in the oil-producing east for a second day on Friday, calling for the release of prisoners held without trial and political and religious rights, activists said.
  • AP – Here are the five most expensive and the five least expensive metro areas for retail gasoline prices in the lower-48 states.
  • Reuters – U.S. consumer sentiment rose more than expected in April as worries about the impact of higher oil prices on economic growth eased slightly, a survey released on Friday showed.
  • Reuters – U.S. consumer sentiment rose more than expected in April as worries about the impact of higher oil prices on economic growth eased slightly, a survey released on Friday showed.
  • Reuters – When a BP oil rig exploded and sank in the Gulf of Mexico last April, killing 11 workers, authorities first reported that no crude was leaking into the ocean.
  • ContributorNetwork – COMMENTARY | Fracturing shale rock to release the natural gas inside, called “fracking,” is either a great method for extracting new energy from existing resources or an ecological disaster that endangers our drinking water. Or both.
  • AP – A spike in the cost of gasoline pushed wholesale prices higher in March, a trend that could limit consumer spending in the coming months.
  • Reuters – The recent surge in oil prices is no prelude to broader price increases that would force the Federal Reserve to raise interest rates, top Fed officials said on Thursday in what appears to be the predominant view at the central bank.

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