Irish Oil Basins May Sustain Local Demand

Ireland may be importing all of its oil requirements at the moment, but with six oil basins lined up for exploration and development, the country may soon wean itself from foreign oil dependence by at least 70 percent. This positive news was disclosed by Tony O’Reilly, Providence Resources CEO. He said that the country could become a significant oil and gas producer and that Providence aims to...
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Gasoline Price Spike in Chicago Attributed to Floods

The price of gasoline in Chicago has been going up and down over the last several weeks. But the gasoline price today is on the rise. Yet, analysts do not expect the current increase to last very long. The spike in the current gasoline prices is being attributed to the floods in the past week, according to Beth Mosher, spokeswoman of AAA in Chicago. Mosher highlighted that the prices of regular...
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Current Gasoline Price Continues Downward Trend

The average price of retail gas in New Hampshire dropped 5.3 cents a gallon last week to its recent average of $3.42 per gallon, according to a daily poll regional gas stations. Maine’s average price of retail gas also declines 4.9 cents a gallon in the previous week to its recent average of $3.53 a gallon, according to the daily poll of gasoline stations throughout that state. The decline in...
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Vitol Group: Crude Prices Can Go Higher or Lower than $100

The current crude prices can go lower or higher than $100 per barrel, with neither movements dominating at present, aside from a longer term trend for slight gains, according to the Vitol Group’s head. For the first time in almost nine months, the crude futures prices of Brent recently fell lower than $100 and have fluctuated in both directions since then, trading at a crude price per barrel of...
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Petrobas Opts for Selective Oil Investment in Brazil Round

Many are skeptical about Petrobas’ capacity to invest in oil exploration in Brazil, which is set to auction offshore oil fields this coming May. The state-run oil company has significantly large liabilities, leaving the company with limited funds for the forthcoming bidding rounds. Petrobas is neck-deep in debt as it spent more than $90 billion of borrowed funds for deepwater oil exploration...
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Gasoline Prices Fall in NYC

New York’s average retail price of gasoline has decreased 3.5 cents a gallon last week, putting the state’s average gasoline price today at $3.83 per gallon, according to the daily poll of gasoline stations throughout the state. This average is higher compared to the nationwide average, which has shed 4 cents a gallon in the past week to reach the current gasoline price average of $3.58 per...
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