OPEC Ministers Favor No Output Change

Monday, May 08, 2000
OPEC officials said all OPEC ministers are in favor of leaving oil production levels unchanged at an extraordinary meeting of the cartel scheduled for next month.

Venezuelan Energy and Mines Minister Ali Rodriguez, currently OPEC president, said oil prices were behaving as he expected since the cartel imposed a target price band in March.

Rodriguez said he did not expect any change in the band's $22 to $28 per barrel range for the OPEC export price basket this year.


Contracts

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

 
 
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