OPEC has released a new market whammy, offering up the cartel’s production figures, which largely jive with figures reported by the IEA.
Saudi Arabia Mining News
Over the last 15 years, America has been turning away from traditional oil suppliers in the Middle East to more trusted sources, closer to home.
The Ad Duwayhi gold mine in Saudi Arabia has begun commercial production, Saudi Arabian Mining Co. (Ma'aden) (TADAWUL:1211) said on Sunday.
According to Bloomberg, the Russian Energy Ministry issued a statement that "Energy Minister Alexander Novak and the heads of Russia's biggest oil companies discussed the possibility of working with OPEC."
Last week a major diplomatic crisis developed between Saudi Arabia and Iran over the Saudi execution of Nimr al Nimr, a charismatic Shiite cleric and anti-Sunni political activist.
Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.2 million barrels per day (b/d) in September, down 60,000 b/d from August as Saudi Arabia further reined in supply, according to a just-released Platts survey of OPEC and oil industry officials and analysts.
Monitoring, detecting pipeline corrosion still a 'crude' affair.
Levels of conflict and political violence have risen significantly in 48 countries, most of them considered traditional mining destinations.
Saudi oil minister says his country 'welcomes this new source of energy.'
Study also says that Myanmar is the country where the business environment improved the most last year.
The Saudi Kingdom may be a major oil exporter but it's got energy problems at home.
Terrorism, regime instability and resource nationalism, are the main risks mining investors will face in 2014.
But not a long-term threat to the OPEC.
Hajj pilgrims are spending 50% less on gold this year.
Americans currently import close to 10 million barrels of crude per day and Canadian oil accounts for 30% of that total.
World oil production rose about 2.5% last year, from 4,019 million tonnes in 2011 to 4,119 million tonnes in 2012.
Estimated oil reserves in the Bakken and Three Forks formation are about twice as much as previously thought, which could bring the US one step closer to energy independence, the government said.
Each hydraulically fractured shale well requires several million gallons of water.
Since the mid-1970s and until today the US held the world’s largest net oil importer position.
Companies trying to secure a price on the 15.4 billion barrels of crude oil underneath the Monterey Shale.
The joint effort, unveiled in November, restores a mutual agreement signed in 1974, which gives the nations shared rights to exploit the Red Sea’s $8 billion worth of minerals.
The Arab states of Sudan and Saudi Arabia unveiled Tuesday plans to start mining for gold, copper, silver and other riches along the Red Sea basin between the two countries as early as 2014.
The United States will surpass both Saudi Arabia and Russia becoming the world’s top oil producer by 2017, says the latest yearly world energy outlook published Monday by International Energy Agency (IEA).
Saudi Arabia's National Committee for Precious Metals and Gems finds that female employment in the sector would be "disastrous" for investment. Reason? Gold store robberies.
Pharaoh Gold Mines NL, Centamin's wholly-owned subsidiary, signed gold exploration contracts with Oman, Saudi Arabia, Ethiopia and Sudan.