oil

GM joins campaign to educate Californians about oil changes, helping reduce their environmental impact

SACRAMENTO, Calif., 2008-06-10 -- General Motors, the California Environmental Protection Agency (Cal/EPA) and the California Integrated Waste Management Board (CIWMB) announced today that they are joining forces to encourage drivers to follow their vehicle manufacturer's recommendations on oil changes, which for millions of GM vehicles could be much longer than the decades-old standard of 3,000 miles between changes.

GM Oil Life System

Vienna, Austria, 5 January 2008 -- The 146th (Extraordinary) Meeting of the Conference of the Organization of the Petroleum Exporting Countries, held in Abu Dhabi, UAE on 5 December 2007, adopted the following Resolution, which, in accordance with customary procedures, has been ratified by the Member Countries and is issued herewith:

Resolution No 146.434

The Conference,

upon the recommendation of the Board of Governors, in accordance with the Statute and the Financial Regulations, approves,

1. The Budget for the year 2008, totalling €22,458,456.
2. That the contribution payable by each Member Country shall be €1,900,000, payable in one instalment not later than 31 March 2008.

Done in Abu Dhabi, UAE, this Fifth Day of December 2007.

Average Retail Gasoline Price at $3 a Gallon

December 12, 2007 -- Despite an increase yesterday, the spot price of West Texas Intermediate (WTI) crude oil has dropped over the last three weeks, from nearly $100 per barrel on November 20, to under $90 per barrel for most of last week. So, will crude oil prices continue to drop, and if so, how low might they fall?

While forecasting oil prices is a difficult task, EIA, in its just released December 2007 Short-Term Energy Outlook, projects the WTI spot crude oil price falling to about $86 per barrel by the end of winter. To understand this projection, it is important to look at some of the reasons behind the latest decline in crude oil prices.

Abu Dhabi, UAE - 5 December 2007 -- The 146th (Extraordinary) Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) convened in Abu Dhabi, United Arab Emirates, on 5 December 2007, under the Chairmanship of its President, HE Mohamed Bin Dhaen Al Hamli, Minister of Energy of the United Arab Emirates and Head of its Delegation, and its Alternate President, HE Dr Chakib Khelil, Minister of Energy and Mines of Algeria and Head of its Delegation.

The Conference congratulated Ecuador on its resumption of full Membership of the Organization, and extended a warm welcome to its Delegation, headed by HE Engineer Guillermo Granja, Undersecretary of Hydrocarbons, representing HE Galo Chiriboga Zambrano, Ecuador’s Minister of Mines and Petroleum.