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World crude prices slumped more than two dollars after Saudi Oil Minister Ali al-Nuaimi said the OPEC cartel might not have to cut output next month.
A number of oil producers have already been forced to delay or even cancel major projects because of high costs.
MEGAS features a high profile line-up of the industry's most respected experts.
Toshiba Corp. was in talks with India's Larsen and Toubro Ltd. to enter the coal-fired power plant business in the growing South Asian economy.
Venezuelan President Hugo Chavez has called on South America's gas producers including Bolivia and Argentina to band together to protect their interests.
A Chinese worker walks by a giant billboard for SinopecA Chinese worker walks by a giant billboard for Sinopec. Sinopec and Switzerland's Addax said Sunday they would join forces in the search for oil in the waters off Nigeria and the island nation of Sao Tome and Principe.
A security officer looks through his binoculars from a rooftop of the OPEC headquartersA security officer looks through his binoculars from a rooftop of the OPEC headquarters in Vienna. The Organization of Petroleum Exporting Countries, satisfied with the current price of crude oil, is on Thursday expected to maintain its oil output quota, analysts said.
Halliburton Chairman, President and Chief Executive Officer Dave Lesar will move to Dubai to lead the company’s efforts in growing Halliburton’s business in the Eastern Hemisphere.
Halliburton said its chief executive Dave Lesar will open a corporate headquarters in Dubai, hoping to expand its operations in the Middle East and Asia.
The project involves the fabrication and construction of eight storage tanks and their related interconnecting piping, above and under ground jetty piping.
World crude oil prices fell further on Monday as traders' attention turned to this week's OPEC cartel output meeting and forecasts of warmer weather in the United States.