Tuesday, April 29, 2008

Shell and BP profits soar to $14bn

Go to Financial Times original
Shares in BP and Royal Dutch Shell leapt on Tuesday as Europe’s two biggest oil companies reported profits well ahead of analysts’ expectations in the first quarter because of strong operational performance and the soaring price of oil.


OPEC says oil could hit $200

Go to Business Standard original
Opec's president on Monday warned that oil prices could hit $200 a barrel and there would be little the cartel could do to help.

The comments made by Chakib Khelil, Algeria's energy minister, came as oil prices continued to hover near $120 a barrel, putting pressure on the already struggling US economy.

His comments suggest Algeria wants the Organisation of the Petroleum Exporting Countries to continue to resist calls by US and European leaders for the cartel to pump more oil.


No comments: