UAE: $25 Barrel Is Reasonable

Thursday, February 03, 2000
The United Arab Emirates oil minister that $25 for a barrel of oil was both a realistic and a reasonable price. "Obviously, we do not want to see prices which are exaggerated either on the higher or lower side. We want to see a reasonable price, and I would say around $25 (per barrel)," Obaid bin Saif al-Nasseri said. "Current prices are realistic taking into consideration the market conditions. We call this a realistic price, otherwise we would not have seen it." Asked if the Organization of Petroleum Exporting Countries had taken an informal decision on extending existing output cuts beyond their March expiry, he said: "I have already made a statement and there is no change in that. UAE stands by it."
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Scottish Independence Vote Worries Shipping Industry

If the Scots vote for independence in September's referendum, it could hit the country's shipping and offshore maritime sector, according to a survey by leading

MOL & Viken in Shuttle Tanker Ownership J/V

Mitsui O.S.K. Lines, Ltd. (MOL) says it has decided to establish a ship-owning joint venture with Norway's Viken Shipping AS  to participate in a shuttle tanker project.

BW Offshore Awards SatCom Contract to Orange

Provider of floating production services to the oil and gas industry, BW Offshore, says it has signed a 5-year, $12 million contract with Orange Business Services

Cruise Ship Trends

Cruise Ship Gets Within 298-miles of the N. Pole

Hapag-Lloyd Cruises say that their expedition ship 'Hanseatic' has set a new record for passenger ships in the Northeast Passage, when the 122.8-metre-long ship reached the northernmost point at 85°,

Norwegian to Buy Prestige Cruises in $3b Deal

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion

Keel Laid for Holland America Line’s New Ship

Holland America Line celebrated the keel laying of its new 2,650-guest Pinnacle Class ship on August 22 at Fincantieri’s Marghera shipyard in Italy. A 680-ton block

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0966 sec (10 req/sec)