Gov&#39;t Set to Make Oil Loans to Refiners
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With oil near $50 a barrel, the Bush administration said on Thursday it will negotiate with refineries that want to borrow oil from the federal emergency stockpile to offset supplies disrupted by Hurricane Ivan.
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Shell and other oil companies sought loans from the US reserve after Hurricane Ivan disrupted oil imports and production. While the added supply from the Strategic Petroleum Reserve
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The Minister of Energy, Dr. Paa Kwesi Nduom, has said government policy on the subsidy of ex-pump prices of petroleum products would remain unchanged even though crude oil price has topped the psychological milestone of $50 per barrel last Tuesday for the
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A government advisory panel will  delay a report on ways to boost U.S. oil refining capacity  because the Bush administration wants to avoid a fight over  environmental regulations before the national elections,  according to a source knowledgeable about the report.
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The Energy Department said on Friday it has approved another emergency oil loan to a refining company to make up for crude supplies disrupted by Hurricane Ivan.
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While the recent flurry of record oil prices may be temporary, government analysts said Thursday that $30-a-barrel oil should be expected for decades to come.
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International oil markets have enough oil, but a lack of capacity to refine it was contributing to high prices, OPEC's president said on Sunday.
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Oil prices fell to just above $48 on  Friday after the U.S. government said it would lend refiners  crude from the Strategic Petroleum Reserve (SPR), but traders  deemed the loan too small to have a lasting impact.
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The world&#39;s top finance officials on Friday asked oil-producing nations to step up production and agreed it was crucial to work out exactly why prices
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Qatar is seeking tenders to build a oil refinery with a capacity of 250,000 barrels a day, Energy Minister Abdullah bin Hamad al-Attiyah said on Saturday.
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With oil prices close to $50 a  barrel, the Bush administration is set to allow oil refineries  to borrow crude from the government's emergency petroleum  stockpile to make up for supplies disrupted by Hurricane Ivan,  a congressional source briefed on the pending decision told  Reuters on Thursday.
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With oil near &#36;50 a barrel, the Bush administration said on Thursday it would negotiate with refineries that want to borrow oil from the federal emergency stockpile to offset supplies disrupted by Hurricane Ivan.
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Energy companies planning a $20 billion gas pipeline to US consuming markets from Alaska welcomed new federal loan guarantees but cautioned Tuesday that other issues must be resolved before the huge project proceeds.
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The White House conceded Monday it will likely have to borrow money to pay for the president&#39;s proposal to create private accounts for younger workers to revamp Social Security.
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Oil prices inched closer to $50 a barrel Thursday even as the Bush administration considered tapping the nation&#39;s emergency stockpile of crude on behalf of refiners whose supply was disrupted by Hurricane Ivan.
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Oil's advance wavered a little on Friday  as the U.S. government prepared to lend out some strategic  crude stocks, but traders said the amounts were small and that  supply worries remained.
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With oil near $50 a barrel, the Bush administration said on Thursday it would negotiate with refineries that want to borrow oil from the federal emergency stockpile to offset supplies disrupted by Hurricane Ivan.