Tag Archives: Price

Effects of removing U.S. crude export restrictions depend on price, resource assumptions

September 2, 2015 Source: U.S. Energy Information Administration, A new study by the U.S. Energy Information Administration (EIA) on the potential implications of allowing more crude oil exports finds that effects on domestic crude oil production are key to determining the other effects of a policy change. Gasoline prices would be either unchanged or slightly […]

EIA lowers crude oil price forecast through 2016

August 19, 2015 Source: U.S. Energy Information Administration, , August 2015 Note: Similar confidence intervals cannot be established around the Brent futures price, as trading volumes on Brent futures contracts are relatively sparse compared to WTI trading volumes. Amid high uncertainty in the global oil market, EIA has lowered crude oil price forecasts in the […]

Kenya: Kerosene Users Gain Big in August Fuel Price Review

By Richard Mungai KEROSENE users have every reason to smile for the next thirty days even as motorists who use Super petrol dig deeper into their pockets to be on the move. The Energy Regulatory Commission on Friday cut kerosene prices by Sh4.76 but pushed up Super petrol prices by Sh4.06 factor in an increase […]

South Africa: Anticipated Fuel Price Drop Could Be Short-Lived

Although an anticipated fuel and diesel price decrease will greatly help deeply indebted consumers, the relief might be only temporary, cautioned Debt Rescue CEO Neil Roets on Friday. The fuel price is expected to go down by 49 cents a litre and the price of diesel by 70c/litre in August. Earlier this week, the Automobile […]

Average diesel retail price below gasoline price for first time in six years

July 23, 2015 Source: EIA, On July 13, the U.S. average diesel fuel retail price fell below the average regular gasoline retail price for the first time since the week of August 10, 2009. From August 2009 through June of this year, retail diesel fuel sold at an average premium of 34 cents per gallon […]

Angola: Angola to Overcome Falling Oil Price Challenge – French President

Luanda — French president François Hollande expressed conviction that Angola will manage to overcome the challenge amid the fall in oil prices at the world market which also impact the Angolan economy. The French Statesman said that there is a tendency of the oil price to increase, given the “important reserves in Angola”. François Hollande […]

South Africa: Expect Big Petrol Price Hike – AA

Based on unaudited daily fuel price data released by the Central Energy Fund, fuel price increases are set to continue in July, the Automobile Association (AA) said on Thursday. It expects the price of petrol to increase by between 43 cents and 46c cents a litre, while diesel and illuminating paraffin will be less affected, […]

Oil and natural gas production job declines tend to lag oil price declines

June 23, 2015 Source: U.S. Energy Information Administration, based on U.S. Bureau of Labor Statistics, Employment in oil and natural gas extraction and support activities in the United States reached nearly 538,000 in October 2014, but then it declined by about 35,000 jobs, or 6.5%, over the following six months, through April 2015, according to […]

Oil exploration in the U.S. Arctic continues despite current price environment

June 12, 2015 Source: U.S. Energy Information Administration, based on Alaska’s crude oil production has declined from 1.8 million barrels per day (MMb/d) in 1991 to 0.5 MMb/d in 2014, and it is expected to continue declining through 2040. Almost 75% of Alaska’s crude oil production from 1990 to 2012 was from the Prudhoe Bay […]

South Africa: Petrol Price Remains Unchanged

Pretoria — The price of petrol will remain unchanged next month, the Department of Energy says. The main factors for the unchanged fuel price include the Rand depreciating slightly against the US Dollar and the international price of Brent crude oil experiencing a slight increase during the period under review. The department said while the […]

Oil price decline leads to lower tax revenues in top oil-producing states

March 12, 2015 Source: U.S. Energy Information Administration, based on . The decline in in the last half of 2014 and first month of 2015 has reduced oil and natural gas production tax revenues in some of the largest oil- and natural gas-producing states. Texas, North Dakota, Alaska, and Oklahoma are four of the five […]

Kenya: World Bank Warns On Slow Trickle Down of Cheaper Oil Price

By Lola Okulo Kenya’s economy could expand by six per cent this year, the World Bank has forecast, but sluggish transmission of lower oil prices locally could reduce anticipated growth to 5.6 per cent. In its Kenya Economic Update released yesterday, the lender revised the country’s growth outlook from an earlier projection of 4.7 per […]

Petroleum refinery outage in California highlights markets’ quick price reaction

February 27, 2015 Source: U.S. Energy Information Administration, This Week in PetroleumNote: . On February 18, an explosion and fire occurred at ExxonMobil’s refinery in Torrance, California. The Torrance refinery, the third-largest refinery in Southern California, has about 20% of the region’s capacity and is an important source of gasoline and distillate fuel oil supply […]

Nigeria: Crude Price – Nigeria Loses N49 Billion in Two Months

By Bassey Udo The global drop in crude oil prices continued to affect Nigeria, as the country recorded about N48.7 billion loss in revenue from oil exports in November and December, 2014. The Accountant General of the Federation, Jonah Otunla, stated this in his revenue report during the January Federation Accounts Allocation Committee meeting held […]

Nigeria: Reduction in PMs Pump Price

editorial The Federal Government last week announced a reduction of the pump price of Premium Motor Spirit (PMS), otherwise called petrol from N97.00 to N87.00 per litre. The reduction, which was announced by the Minister of Petroleum Resources Mrs Diezani Alison-Madueke, was meant to take immediate effect. She also directed the Petroleum Products Pricing Regulatory […]

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