Oil prices continued to slide this week with crude at one point dipping below $55 a barrel – the lowest since early 2007 – as official data pointed to a longer and more intense global economic downturn than previously forecast with an accompanying slump in worldwide demand for commodities.
Posts on ‘November 15th, 2008’
newratings.com 11/14/08 - ING Financial Markets LONDON, November 14 (newratings.com) – Analysts at ING Financial Markets downgrade Royal Dutch Shell (RDSA) from “buy” to “hold.” The 12-month target price has been reduced from 25.50 to 22.56. In a research note published this morning, the analysts mention that the sharp decline in global oil prices is likely to restrict [...]
Royal Dutch Shell PLC, Europe’s largest oil company, said last month that it was pushing back a decision on expanding an oil-sands project in Canada. But Shell’s Denver-based exploration and production company is moving its oil-shale development forward, said Tracy Boyd, communications and sustainability manager
Austria’s OMV AG is in talks with BP and Royal Dutch Shell to buy Azeri and Iraqi natural gas for transport through the planned Nabucco pipeline, which the EU hopes will reduce its reliance on Russian imports.
That confidence springs from cash, mountains of it, and know-how. The 100% state-owned Aramco manages all its own projects and invests in the latest technology. It’s easily the most profitable company on the planet: