The front-month crude contract in the New York market fell Nov. 19, giving back much of its gains from a 3-day rally.
Russia's Energy Minister Sergei Shmatko and European Union Energy Commissioner Andris Piebalgs have signed an agreement for an early warning of future disruptions of Russian gas supplies to the EU.
Continental Resources Inc. has promoted Jeffrey B. Hume to president and chief operating officer. Hume has served as chief operating officer since October 2008.
Crude prices increased for the third consecutive session Nov. 18 on the New York Mercantile Exchange, buoyed by a weak dollar and unexpected declines in US oil inventories, but still wasn’t able to crack through its apparent ceiling of $80/bbl.
BP PLC and its Russian partners in TNK-BP have named Maxim Barsky as the new chief executive officer for the joint venture, but have delayed his appointment until 2011 so he can gain more experience.
Major oil companies and midstream companies face some changes in how they do business if biofuels production expands at the rate required by the US renewable fuel standards (RFS), a credit rating agency reports.
Olivier Gantois was appointed delegate general of French Union for Petroleum Industries (UFIP) trade group and will take office in January.
A group of corporate chief executives has formed to promote cuts in US oil use through expansion of the electric-powered vehicle fleet.
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