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Oil execs give wide range on oil price estimates

reuters.com
May 21, 2008
        
Story Timeline:  198 days

WASHINGTON (Reuters) - Executives with big oil companies on Wednesday gave a wide range of estimates when U.S. lawmakers asked them how high oil prices should be. At a hearing before the Senate Judiciary Committee on oil prices, John Hofmeister, president of Shell Oil Company, the U.S. arm of... [read full story]                    

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Oil companies plan on higher crude prices

 independent-bangladesh.com May 21, 2008
First article on this story:

Gas Prices, Gas Bags, & The Gas Chamber

 allspinzone.com May 19, 2008
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Oil companies plan on higher crude prices

independent-bangladesh.com
May 21, 2008
        

REUTERS, LONDON - Oil firms are using higher price assumptions for planning their businesses, making a greater range of projects viable and a sign that the floor for prices in the long run is moving up. Companies such as BP Plc (BP.L: Quote, Profile, Research) and Royal Dutch Shell Plc (RDSa.L:...

                   

Oil prices could reach dlrs 140 by year end, says CGES

payvand.com
May 21, 2008
        

London, May 20, IRNA - Oil prices are likely to continue to rise reaching an average of 140.4 dollars per barrel (dpb) by the final quarter of this year should non-OPEC supply fail to meet pessimistic forecast, according to the Centre for Global Energy Studies (CGES). In its latest monthly oil...

msn.com: Image: John Hofmeister, Peter Robertson, Robert Malone, John Lowe, J. Stephen Simon msn.com

Oil execs defend huge profits before Senate

msn.com
May 21, 2008
        

‘Laws of supply and demand are at work,’ Shell chairman explains BP America Chairman Robert Malone, Shell Oil President John Hofmeister, Chevron Vice Chairman Peter Robertson; ConocoPhillips Executive Vice President John Lowe, and ExxonMobile Senior Vice President J. Stephen Simon are sworn in on...

go.com: Oil Congress go.com

Oil Bigs Get Earful: 'Oil Markets Have Failed'

go.com
May 21, 2008
        

Oil Executives Testify About the High Cost of Gas But Change is Unlikely By SCOTT MAYEROWITZ ABC NEWS Business Unit The top executives of the nation's largest oil companies are once again being summoned before Congress to testify about the skyrocketing cost of gasoline. Don't expect today's...

                   

Oil execs: It's not our fault

cnn.com
May 21, 2008
        

NEW YORK (CNNMoney.com) -- The Senate Judiciary Committee called the hearing to explore the skyrocketing price of oil, which earlier in the day crossed $132 a barrel for the first time. Congress - a House committee has set a similar hearing for Thursday - is tapping into growing public anger over...

South Korea's oil demand hit by soaring prices

menafn.com
May 21, 2008
        

The Korea National Oil Corp. said in a statement that oil consumption in South Korea, the world's fifth-largest crude buyer, fell for the sixth month in April as higher prices reduced demand, Reuters reported. According to the statement, the country used 60.26 million barrels of oil products last...

Oil prices pass $132 after government reports supply drop

canadianbusiness.com
May 21, 2008
        

John Wilen, The Associated Press NEW YORK - Oil prices bolted to a new record above US$132 a barrel Wednesday after the government reported that supplies of crude oil and gasoline fell unexpectedly last week. And crude's rise in the futures market again pressured consumers by pulling prices at...

Oil executives defend size, profits before Senate

kwch.com
May 21, 2008
        

Associated Press - May 21, 2008 11:13 AM ET WASHINGTON (AP) - Senators told oil executives Wednesday that high oil prices cannot be explained by supply and demand and the oil industry's concentration - and OPEC price collusion - is contributing to the costs facing consumers. Executives of the...

                   

Congress wants answers from oil execs

cnn.com
May 21, 2008
        

NEW YORK (CNNMoney.com) -- The Senate Judiciary Committee called the hearing to explore the skyrocketing price of oil, which earlier in the day crossed $132 a barrel for the first time. Congress - a House committee has set a similar hearing for Thursday - is tapping into growing public anger over...

Senate:'We Can Only Conclude that the Oil Markets Have Failed'

fox6.com
May 21, 2008
        

Senators told oil executives Wednesday that high oil prices cannot be explained by supply and demand and the oil industry's concentration, and OPEC price collusion, is contributing to the costs facing consumers. Executives of the five largest oil companies were appearing before the Senate...

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