Oil

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OPEC Expands Oil Rigs Most Since 2007 as Quotas Prove Illusory
(Bloomberg - Mar 15, 2010)

March 15 (Bloomberg) -- OPEC is increasing oil drilling at the fastest rate in 2 1/2 years even as production exceeds its quotas by the equivalent of a supertanker of crude a day and delegates prepare to pledge no increase in output.

www.bloomberg.com/apps/news?pid=20601207&sid=aDHS9FYQtAiA

OPEC Expands Oil Rigs Most Since 2007 as Quotas Prove Illusory
(BusinessWeek - Mar 15, 2010)

OPEC is increasing oil drilling at the fastest rate in 2 1/2 years even as production exceeds its quotas by the equivalent of a supertanker of crude a day and delegates prepare to pledge no increase in output.

www.businessweek.com/news/2010-03-15/opec-expands-oil-rigs-m...

Oil Falls on Concern OPEC Output May Exceed Demand (Correct)
(Bloomberg - Mar 15, 2010)

(Corrects Brent prices in final paragraph.) March 15 (Bloomberg) -- Crude oil declined for a second day on speculation fuel inventories may remain high as supply from the Organization of Petroleum Exporting Countries outpaces the recovery in global demand.

www.bloomberg.com/apps/news?pid=20601207&sid=aJwaALWFAxDU

China buying Argentine oil stake
(BBC News - Mar 15, 2010)

China National Offshore Oil Corporation is paying $3.1bn for a 50% stake in Argentine oil and gas group Bridas Corporation.

news.bbc.co.uk/go/rss/-/1/hi/business/8567440.stm

Deal for Oil Fields Extends China’s Quest for Energy
(New York Times - Mar 15, 2010)

Cnooc, China's top offshore oil explorer, said on Sunday that it had secured a South American beachhead by agreeing to pay $3.1 billion in cash for a stake in one of the largest Argentine oil explorers, with fields in Argentina, Bolivia and Chile.

dealbook.blogs.nytimes.com/2010/03/15/deal-for-oil-fields-ex...

Oil falls below $81 amid weak US crude demand
(AP via Yahoo! News - Mar 15, 2010)

Oil prices fell below $81 a barrel Monday in Asia amid investor concerns flagging U.S. crude demand doesn't justify the recent rally.

news.yahoo.com/s/ap/20100315/ap_on_bi_ge/oil_prices_1

Oil Falls in New York on Concern OPEC Output May Exceed Demand
(Bloomberg - Mar 15, 2010)

March 15 (Bloomberg) -- Crude oil declined for a second day on speculation fuel inventories may remain high as supply from the Organization of Petroleum Exporting Countries outpaces the recovery in global demand.

www.bloomberg.com/apps/news?pid=20601072&sid=a75Lm8BnS_34

Chinese oil giant to buy stake in Argentine firm
(Washington Post - Mar 15, 2010)

HONG KONG -- Leading offshore-oil producer China National Offshore Oil Corp. said Sunday that it has agreed to pay $3.1 billion to form a joint venture with a major Argentine energy firm, helping to expand China's access to natural resources in South America.

www.washingtonpost.com/wp-dyn/content/article/2010/03/14/AR2...

Inside look: How Lucas Oil Field will transform for Final Four
(USA Today - Mar 15, 2010)

An inside look at how Lucas Oil Field, home to the Indianapolis Colts, will be transformed to host the men's basketball Final Four from April 3-5.

www.usatoday.com/sports/college/mensbasketball/2010-03-11-fi...

Oil Falls a Second Day on Concern Output Is Exceeding Demand
(Bloomberg - Mar 15, 2010)

March 15 (Bloomberg) -- Crude oil declined for a second day on speculation global stockpiles may remain high because output exceeds demand improvement as the world recovers from its worst recession since World War II.

www.bloomberg.com/apps/news?pid=20601091&sid=aXVpPYkgN0W8