IEA monthly report shows country still among the top in line with OPEC quotas
Abu Dhabi – Production of crude oil by the UAE in April rose to 2.29 million barrels per day (bpd) in the country is still one of the most compatible countries with output curbs announced earlier by the Organization of Petroleum Exporting Countries (OPEC ) for Member States, the latest estimates from the International Energy Agency (IEA) show. “Saudi Arabia, United Arab Emirates and Kuwait is still the most satisfies the output-oriented economies, while Angola and Nigeria continue to produce than their allocated output levels,” the IEA said in its latest oil market report. Read more
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Mexican firefighters try to extinguish fire after the explosion of a Petroleos Mexicanos (PEMEX) pipeline in the village of San Martin Texmelucan in Puebla state, Mexico, on December 19, 2010. At least 27 people were slain early Sunday when the pipeline exploded in central Mexico, the authorithies said.
Earlier on Sunday, an official of the Puebla state government told Xinhua by telephone that the explosion took place after the two criminals tapping oil pipelines by the city of Puebla, San Martin Texmelucan lost control of oil flow.
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TORONTO, ONTARIO-Golden Hope Mines Limited (“Golden Hope”) (TSX VENTURE:GNH)(PINK SHEETS:GOLHF) is pleased to announce that it has entered into an agreement to purchase a 10% net proceeds royalty (the “Royalty Interest”) in regard to certain of its mining claims located in the Townships of Panet, Ware and Bellechasse, Quebec, from Gold Belt Mining Ltd. (“Gold Belt”). The Royalty Interest had previously been granted to Gold Belt by Golden Hope. (more…)
Gold may rise in London, extending the fourth consecutive week in advance, as the unrest in Libya marks the demand for the metal as an alternative investment.
Gold is up 0.9 percent this week, heading for the longest weekly advance since October. Libyan leader Muammar Gaddafi will strengthen its defense of the capital Tripoli tanks and opponents consolidated control of the oil-rich east of the country.
“As to intensify protests in Libya, we expect gold and silver are supported by the flight to safety demand,” James Moore, analyst at TheBullionDesk.com in London, said today in a report.
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