UAE: $30 Barrel Will Not Trigger OPEC Action

Thursday, December 09, 1999
The United Arab Emirates oil minister suggested in remarks published last Thursday that a brief spike in oil prices to $30 would not trigger a response by OPEC to raise output, because the average price for the year would still be about $18 per barrel, below prices recorded in 1996 and 1997.

Contracts

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

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

 
 
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