January 2012
25th January 2012
Iran Says Western Growth May Suffer Due to Europe's Ban on Oil
The European Union’s ban on imports of Iranian crude will drive up oil prices and aggravate market instability, the Islamic Republic said.
The decision by EU foreign ministers to phase out purchases of Iranian oil from July was “hasty” and may lead to “heavy economic loss and damages to the crisis-stricken people of Europe,” the Iranian oil ministry said in a statement on the state-run Fars news agency late yesterday, January 23rd, 2012. Iran’s foreign ministry said the decision “would bear bitter fruit.” Read more »
8th January 2012
Weak Gas Prices Cause Company to Further Cut Back Barnett Shale Drilling
If natural gas prices remain depressed, Chesapeake Energy will further reduce spending on drilling in areas such as North Texas' Barnett Shale, which mostly produces less-valuable "dry" gas, the company said Wednesday January 4, 2012.
Chesapeake is the No. 2 gas producer in the Barnett and has long been among the most active drillers. But it has already reduced drilling activity from years when gas prices were markedly higher. Read more »
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