1. AIOC is committed to shipping almost all its initial crude production north through Russia, later exporting crude west through Georgia. 2. Cheney said he saw little need for Bush to try to pressure oil-rich nations into increasing crude production. 3. Crude oil prices tumbled as traders focused on expectations for increased North Sea crude production and ignored heightened tensions in Nigeria. 4. Declining domestic crude production has prompted a string of oil explorers, such as Basic Petroleum and Minerals Corp., to switch to holding companies this year. 5. Elsewhere, an industry newsletter said Saudi Arabian crude production was unusually high during the past three months. 6. Higher international crude production, lower exploration costs, and higher lubricant and diesel fuel sales helped keep net income from declining further, said Chief Executive Roberto Monti. 7. Oil prices tumbled as traders, betting rising global crude production and decreased domestic refinery demand will make supplies ample, raced to unload the expiring December crude contract. 8. Primary crude production affected by Opal includes Light Louisiana Sweet, Eugene Island and Bonito Sour, all of which are produced offshore of New Orleans. 9. The Organization of the Petroleum Exporting Countries, just a few weeks ago, was considering increasing crude production. 10. With oil supplies already short, the Western world depends on Iraq continuing crude production, something he could cut off at any time. |