World Oil Prices Hit Record Highs

Tuesday, September 07, 1999
World oil prices floated to their highest level in 23 months today after remarks by major OPEC producers gave the market new assurances that output cuts would not be revoked before March 2000 at the earliest. London crude oil futures stormed to their highest level for two and a half years as the threat of an oilworkers' strike in key producer Venezuela deepened fears of a potential supply crunch. Benchmark Brent crude broke through a previous high of $21.75 and achieved a new peak of $21.88 a barrel, more than 50 cents up on the day and its highest level since February 1997.

Offshore

US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

MISC Enters Thai Offshore O&G Market

Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | 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: 0.1008 sec (10 req/sec)