TOP: Crude oil had hit its two weeks low as reported by BP
Some of the most important news of the oil market is given below. Oil prices had it nearly two-week low with apprehension that there will be less demand for oil in China as the country will step up its monetary measure for cooling its economy.
According to a panel of investigator BP did not show operating discipline before the blow out of its well.
The decisions taken by BP Plc before the blow out of its well under the Mexican Gulf pointed out that the firm did not take enough precaution against risk. Moreover its lack of operating discipline also contributed to the biggest oil spill of the US history. These facts were provided by one interim report given by a technical panel.
Companies from Massachusetts received double money in Federal contracts coming up from the oil spill of BP Plc. The companies got it from a combined total of the five states of the Gulf of Mexico where the oil was washed up. These facts were provided by Bloomberg Rankings.
According to Dau Tu newspaper TNK-BP a Russian based company has shown interest for acquiring shares of Vietnamese Dung Quat refinery. The newspaper did not give the name of the source that provided the mentioned news.
The use of Biomass in China has placed the country ahead of America to be the biggest consumer of energy in the world in the year 2009. The government of China excludes that form of energy from its consumption estimates. These facts were given by the International Energy Agency.
China's biggest offshore producer of oil named China National Offshore oil Corp. has plans to expand its oil and gas exploration in the next year in foreign countries.
