Norwegian Gas Production Sets New Record
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Norway's natural gas production reached a new high in 2004, but falling oil output is putting pressure on the world's third-largest oil exporter to find new reserves, the Norwegian Petroleum Directorate said Thursday.
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Exxon Mobil, the world's largest public oil company, makes a record $25bn profit in 2004 on the back of surging oil prices.
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World oil prices hit new records above $50 a barrel Tuesday amid fears that problems in oil-producing nations mean that oil supplies may not meet strong demand.
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Oil prices set a new record at $53 a  barrel on Thursday on concerns over tight winter heating fuel  supplies and news of an unexpected strike at Nigerian oil  terminals.
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Imperial Oil, Canada&#39;s largest energy company, said third-quarter profit rose 44 percent as oil prices surged to a record and natural-gas production increased.
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Oil prices broke into new record  territory above $52 Thursday on heightened concerns that  supplies of heating fuels will prove inadequate during the  northern hemisphere winter.
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The threat of a lock-out by Norwegian shipowners which would halt production at the world&#39;s third-biggest crude producer has sent oil prices to record highs.
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London - Oil prices roared to new record highs yesterday, within a whisker of $51 a barrel, on worries about supplies from the Gulf of Mexico, where almost 30 percent of production remains shut.
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Statoil ASA said Monday that high oil prices boosted its revenues to a new record for 2005, with net profits more than doubling in the fourth quarter.
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Total will develop one of the worldâs largest natural gas deposits offshore in the Arctic with Russiaâs gas giant Gazprom, despite the risk of nationalization.
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Crude oil prices jumped above $51 a barrel yesterday, setting a fresh record amid a prolonged production shut-down in the Gulf of Mexico in the wake of Hurricane Ivan.
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Oil prices set a new record at $53 a  barrel on Thursday on concerns over tight winter heating fuel  supplies and news that a strike in Nigeria had put some crude  exports on hold.
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CALGARY, ALBERTA - The number of oil and gas wells to be drilled in Canada next year could climb 8 percent to a record because of a surge in coal-bed methane activity, the oil-field service industry predicted last week.
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US oil prices hit fresh record levels after Norwegian ship owners threaten to cut off supplies from the world's third biggest exporter.
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Steel makers in Germany expect production to rise to a new record of 47 million tonnes in 2005, beating this year's output of 46.5 million tonnes in the face of booming worldwide demand, the German steel makers' federation said.
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Oil prices hit a new record near $51 a  barrel on Tuesday as a prolonged U.S. production outage  following Hurricane Ivan attracted fresh speculative buying.
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Oil giant Royal Dutch Shell reports record annual profits for a UK company, making Â£13.9bn.