Crude futures prices soared above $40/bbl for the first time in more than a month on the New York Mercantile Exchange when US Sec. of Homeland Security Tom Ridge July 8 warned that terrorists might be planning an attack aimed at disrupting the upcoming US presidential elections.
Despite current tensions in the Middle East, this reporter remains optimistic about that area, having observed cooperation between opposing soldiers during an initial trip to that area some 25 years ago.
OPEC limited in ability to stabilize oil markets
What if the Organization of Petroleum Exporting Countries boosted oil production quotas for the second time in as many months, and the market just shrugged?
An options evaluation approach aided Empresa Colombiana de Petróleos (Ecopetrol), Colombia's state-owned oil company, in making a decision on whether to participate in developing the newly discovered Guando field.
The value chain for any given chemical or process facility is a complex set of activities involving the company and its fixed manufacturing sites, as well as various shippers and their transportation and storage facilities.