Petroleum

Angolan Minister of Petroleum Jose Maria Bothelo de Vasconselos arrives for the 157th meeting of the OPEC, the Organization of the Petroleum Exporting Countries, on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting here on Thursday to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Nigerian Petroleum Minister Diezani Kogbeni Alison-Madueke talks to journalists at the Organization of the Petroleum Exporting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting to decide whether to change production levels amid a rise in demand, as the oil price edged up.

Nigerian Petroleum Minister Diezani Kogbeni Alison-Madueke talks to journalists at the Organization of the Petroleum Exporting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting to decide whether to change production levels amid a rise in demand, as the oil price edged up.

Iranian Minister of Petroleum Masoud Mir-Kazemi (R) arrives with Iranian Ambassador to the International Atomic Energy Agency (IAEA) Ali Asghar Soltanieh for an Organization of the Petroleum Expoting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting today to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Angolan Minister of Petroleum José Maria Botelho de Vasconcelos waits for the start of an Organization of the Petroleum Exporting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting today to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Nigerian Petroleum Minister Diezani Kogbeni Alison-Madueke talks to journalists at the Organization of the Petroleum Exporting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting to decide whether to change production levels amid a rise in demand, as the oil price edged up.

Angolan Minister of Petroleum Jose Maria Bothelo de Vasconselos arrives for the 157th meeting of the OPEC, the Organization of the Petroleum Exporting Countries, on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting here on Thursday to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Iranian Petroleum Minister Masoud Mir Kazemi (R) and Iranian Ambassador to the International Atomic Energy Agency (IAEA) Ali Asghar Soltanieh talk to journalists at the Organization of the Petroleum Exporting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting to decide whether to change production levels amid a rise in demand, as the oil price edged up.

Saudi Minister of Petroleum and Mineral Resources Ali al Naimi arrives for the 157th meeting of the OPEC, the Organization of the Petroleum Exporting Countries, on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting here on Thursday to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Nigerias Minister of Petroleum Resources Diezani Kogbeni Alison-Madueke arrives for the 157th meeting of the OPEC, the Organization of the Petroleum Exporting Countries, on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting here on Thursday to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Prince Abdulaziz Salman bin Abdulaziz Al-Saud from the Saudi Ministery of Petroleum and Mineral Resources attends a press conference at the 157th meeting of the OPEC, the Organization of the Petroleum Exporting Countries, on October 14, 2010 in Vienna. The Organization of Petroleum Exporting Countries has agreed to keep its official oil production target at 24.84 million barrels a day OPEC president Wilson Pastor-Morris said.

Prince Abdulaziz Salman bin Abdulaziz Al-Saud from the Saudi Ministery of Petroleum and Mineral Resources answers journalists' questions at the 157th meeting of the OPEC, the Organization of the Petroleum Exporting Countries, on October 14, 2010 in Vienna. The Organization of Petroleum Exporting Countries has agreed to keep its official oil production target at 24.84 million barrels a day OPEC president Wilson Pastor-Morris said.

Vice president of Turkish Petroleum Company (TPAO) Besim Sisman speaks during the 5th North Africa Oil and Gas summit on November 3, 2010 in Vienna. Market trends, growth opportunities, medium and long term prospects and risk analysis will be discussed at the summit, according to its website.

Saudi Arabia Minister of Petroleum and Mineral resources Ali al-Nuami delivers his speech at the Singapore Energy Summit dinner in Singapore on November 1, 2010. Oil prices have been hovering around 80 dollars a barrel in recent months after touching historic highs of more than 147 dollars a barrel in 2008 before the onset of the worst global recession since the 1930s.

Saudi Arabia Minister of Petroleum and Mineral resources Ali al-Nuami delivers his speech at the Singapore Energy Summit dinner in Singapore on November 1, 2010. Oil prices have been hovering around 80 dollars a barrel in recent months after touching historic highs of more than 147 dollars a barrel in 2008 before the onset of the worst global recession since the 1930s.

Saudi Arabia Minister of Petroleum and Mineral resources Ali al-Nuami delivers his speech at the Singapore Energy Summit dinner in Singapore on November 1, 2010. Oil prices have been hovering around 80 dollars a barrel in recent months after touching historic highs of more than 147 dollars a barrel in 2008 before the onset of the worst global recession since the 1930s.

Venezuelan Minister of Energy and Petroleum Rafael Ramirez arrives for an Organization of the Petroleum Exporting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting today to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Ecuador's Wilson Pastor-Morris (L), Minister of Non-renewable Natural Resources and OPEC president, and Secretary General of OPEC, Abdalla Salem El-Badri from Libya answer journalists' questions at the 157th meeting of the OPEC, the Organization of the Petroleum Exporting Countries, on October 14, 2010 in Vienna. The Organization of Petroleum Exporting Countries has agreed to keep its official oil production target at 24.84 million barrels a day Wilson Pastor-Morris said.

Venezuelan Minister of Energy and Petroleum Rafael Ramirez arrives for an Organization of the Petroleum Exporting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting today to decide whether to make changes to its oil output amid a pick-up in demand for energy.

NEW YORK - SEPTEMBER 22: (L-R) Amir Dossal, Executive Director, UN Office for Partnerships, Louise Blouin, Chairman Louise Blouin Foundation, and Badr Jaffar, CEO Crescent Petroleum attend 2010 Blouin Creative Leadership Summit - Day 1 at the Metropolitan Club on September 22, 2010 in New York City.

Algeria's Minister of Energy and Mines Youcef Yousfi arrives for the 157th meeting of the OPEC, the Organization of the Petroleum Exporting Countries, on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting here on Thursday to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Saudi Oil Minister Ali al-Nuaimi talks to journalists at the Organization of the Petroleum Exporting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting to decide whether to change production levels amid a rise in demand, as the oil price edged up.

DOHA, QATAR - OCTOBER 24: Shoppers walk through the City Center shopping mall in West Bay district on October 24, 2010 in Doha, Qatar. The International Monetary Fund (IMF) recently reiterated its projection for the Qatari economy with predictions of double digit growth for 2010 and 2011. Though natural gas and petroleum production are still the biggest two single sources of income, the non-energy sector overtook oil and gas in Qatari GDP for 2009. Qatar is heavily dependant on foreign labour from countries such as India, Sri Lanka, Bangladesh, the Phillipines and other Arab countries. Foreigners make up approximately two thirds of the Qatari population.

Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Abdalla Salem El-Badri speaks during press conference at the OPEC headquarters in Vienna on November 4, 2010. OPEC kept its medium and long-term forecasts for global oil demand relatively unchanged in a new report on Thursday, by also spotlighted the impact of environmental policies on the oil market.

Cuban President Raul Castro lifts the arm of Venezuelan President Hugo Chavez and looks at his watch, after the latter finished his speech, during a ceremony to mark the 10th anniversary of the Bolivarian Alternative for the Americas (ALBA), at the Conventions Palace in Havana on November 8, 2010. After the meeting, Castro called a Cuban Communist Party congress for the first time in 13 years, to be held in April 2011 and to address 'updating' economic policy. L-R accompanying the two presidents: Venezuelan Energy and Petroleum Minister Rafael Ramirez; Cuban Vice-President of the Council of Ministers Ricardo Cabrisas; Cuban Information Science and Communication Minister Ramiro Valdes and Venezuelan Electricity Minister Ali Rodriguez.

Mississippi River water (L) meets sea water and an oil slick that has passsed inside of the protective barrier formed by the Chandeleur Islands, as cleanup operations continue for the BP Deepwater Horizon platform disaster off Louisiana, on May 7, 2010. The Gulf of Mexico oil slick threatens disaster for the fragile US coast, causing clean-up efforts to focus on the best of a bad set of options: fight it there before it arrives here. An army of workers hired by British Petroleum, along with the US Coast Guard and local officials in Louisiana, have rushed to set out protective booms, spread dispersants and burn the oil when they can as it moves toward the shore. The strategy is to deal with the growing slick as much as possible before it laps into wetlands on Louisiana's coast, where its effects could be catastrophic and cleaning it is infinitely more difficult if not impossible.

From L - Pakistani President Asif Ali Zardari, Indian Minister of Petroleum and Natural Gas Murli Deopra, Turkmenistan's leader Gurbanguly Berdymukhamedov and Afghan President Hamid Karzai shake hands after a signing ceremony in Ashgabat on December 11, 2010. Turkmenistan was to sign a framework agreement with Afghanistan, India, and Pakistan for the transnational gas pipeline that would expand the Central Asian country's exports. The 1,700 kilometre (1,050 mile) TAPI pipeline, Ashgabat's dream project that first appeared in 1995, has been on hold for many years due to the Taliban insurgency in Afghanistan.

President of the OPEC & Angolan Minister of Petroleum Jose Maria Botelho de Vasconcelos speaks to reporters during the opening ceremony of the of the 'Gaz Exporting Meeting Forum' (GECF) 10th Ministerial Meeting at the Covention Centrein Oran on April 19, 2010. The eleven countries in the Gas Exporting Countries Forum meeting in Algeria are determined to confront the drop in gas prices, Russia's energy minister said.

Qatari Minister of Energy and Industry Abdullah bin Hamad Al Attiyah arrives for the 157th meeting of the OPEC, the Organization of the Petroleum Exporting Countries, on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting here on Thursday to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Delegates wait for the start of an Organization of the Petroleum Exporting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting today to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Saudi Oil Minister Ali al-Nuaimi talks to journalists at the Organization of the Petroleum Exporting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting to decide whether to change production levels amid a rise in demand, as the oil price edged up.

A general view shows deputies listening to Algerian Prime Minister Ahmed Ouyahia adressing the National People's Congress (NPC) as he presents his government policy statement on October 21, 2010 in Algiers. Ouyahia said he expected the budget deficit to grow by the end of 2010 despite rising petroleum revenues.

DOHA, QATAR - OCTOBER 24: A man wearing traditional local clothes carries a tray of food from a McDonald's fast food restaurant in the City Center shopping mall in West Bay district on October 24, 2010 in Doha, Qatar. The International Monetary Fund (IMF) recently reiterated its projection for the Qatari economy with predictions of double digit growth for 2010 and 2011. Though natural gas and petroleum production are still the biggest two single sources of income, the non-energy sector overtook oil and gas in Qatari GDP for 2009. Qatar is heavily dependant on foreign labour from countries such as India, Sri Lanka, Bangladesh, the Phillipines and other Arab countries. Foreigners make up approximately two thirds of the Qatari population.

In this picture taken on September 16, 2006, a Bangladeshi motorist waits for fuel at a service station in Dhaka. Bangladesh's state-owned oil company will post a record net loss of nearly one billion USD in the current fiscal year due to sky-rocketing global crude oil prices, its chairman said March 8, 2008. The Bangladesh Petroleum Corp (BPC), the nation's monopoly oil importer and distributor, sells fuel at prices set by the government that do not reflect the purchase cost.

Cuban President Raul Castro lifts the arm of Venezuelan President Hugo Chavez and looks at his watch, after the latter finished his speech, during a ceremony to mark the 10th anniversary of the Bolivarian Alternative for the Americas (ALBA), at the Conventions Palace in Havana on November 8, 2010. After the meeting, Castro called a Cuban Communist Party congress for the first time in 13 years, to be held in April 2011 and to address 'updating' economic policy. L-R accompanying the two presidents: Venezuelan Energy and Petroleum Minister Rafael Ramirez; Cuban Vice-President of the Council of Ministers Ricardo Cabrisas; Cuban Information Science and Communication Minister Ramiro Valdes and Venezuelan Electricity Minister Ali Rodriguez.

Containers filled with oil processing chemicals can be seen stocked near an field processing facility in the Unity oil field in Unity State on November 10, 2010. In Toma South, Garjang Gieng , the environment Minister for Unity State saw a pond containing six containers like these from which a thick tar-like substance was leaking and oozing into the soil. He spent a quarter of an hour haranguing a Greater Nile Petroleum Operating Company (NPOC) engineer about what he had seen. After the man promised to pass on Gieng's concerns to GNPOC management, the minister replied curtly: 'That's right. Tell them.' .South Sudan officials are concerned at the environmental damage being caused by the oil industry. Their potentially rich but grossly underdeveloped region is in a quandary. Its desperately poor people, mostly subsistence farmers and cattle grazers, need oil money but officials say livelihoods are being threatened by pollution. The problem, says Sign of Hope's Klaus Stieglitz, is that 'some of these ponds are heavily contaminated, and the fact that there is no plastic lining' means there is seepage into the ground water layer. Stieglitz of the Germany-based group has spent the past three years denouncing oil pollution in Sudan.

Farouk al-Zanki, chief executive officer at Kuwait Petroleum Corporation, speaks during the first day of the 6th annual Kuwait Projects 2010 Conference in Kuwait City on November 29, 2010, as top Kuwaiti oil and economic officials speak at the two-day conference organised by Middle East Intelligence (MEED) on a number of mega projects to be carried out in the oil-rich country.

Mississippi River water (L) meets sea water and an oil slick that has passsed inside of the protective barrier formed by the Chandeleur Islands, as cleanup operations continue for the BP Deepwater Horizon platform disaster off Louisiana, on May 7, 2010. The Gulf of Mexico oil slick threatens disaster for the fragile US coast, causing clean-up efforts to focus on the best of a bad set of options: fight it there before it arrives here. An army of workers hired by British Petroleum, along with the US Coast Guard and local officials in Louisiana, have rushed to set out protective booms, spread dispersants and burn the oil when they can as it moves toward the shore. The strategy is to deal with the growing slick as much as possible before it laps into wetlands on Louisiana's coast, where its effects could be catastrophic and cleaning it is infinitely more difficult if not impossible.

Colombian Minister of Foreign Affairs Maria Angela Holguin (C at right) and her Venezuelan counterpart Nicolas Maduro shake hands before a meeting in Cucuta, Colombia, near the border with Venezuela, on October 7, 2010. The ministers are to arrange the visit of Colombian President Juan Manuel Santos to Venezuela scheduled for this month. Accompanying the Foreign Ministers, from L to R: Venezuela's Minister of Commerce Richard Canan, of Interior and Justice Tarek El Aissami, and of Energy and Petroleum Rafael Ramirez, and from Colombia Minister of Defense Rodrigo Rivera, of Mines and Energy Carlos Robado and of Commerce Sergio Diaz Granados.

Libyan Oil Minister and chairman of Libya's National Oil Corporation (NOC) Shukri Ghanem talks to reporters as he arrives in Vienna on October 13,2010 on the eve of an Organization of Petroleum Exporting Countries (OPEC) formal output meeting. OPEC ministers arriving in Austrian capital also suggested the cartel would hold its official output quota at 24.84 million barrels a day, with the focus of the meeting shifting to an improvement in compliance instead.

Emirati Energy Minister Mohamed bin Dhaen al Hamli (C) arrives for an Organization of the Petroleum Expoting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting today to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Algerian Prime Minister Ahmed Ouyahia sits in the National People's Congress (NPC) before presenting his government policy statement on October 21, 2010 in Algiers. Ouyahia said he expected the budget deficit to grow by the end of 2010 despite rising petroleum revenues.

Chairman of the French Union of Petroleum Industries, Jean-Louis Schilansky speaks to the press as he arrives for a meeting with French Sustainable Development Minister Jean-Louis Borloo and French Prime Minister Francois Fillon for a meeting focused on French refineries and gas supply on October 22, 2010 in Paris. Emergency measures to restore fuel supplies to French forecourts will take 'several days' to return the situation to normal, amid ongoing strike action, the prime minister's office said.

DOHA, QATAR - OCTOBER 24: A worker walks across a construction site next to new highrise office buildings and hotels under construction in the new City Center and West Bay district on October 24, 2010 in Doha, Qatar. The International Monetary Fund (IMF) recently reiterated its projection for the Qatari economy with predictions of double digit growth for 2010 and 2011. Though natural gas and petroleum production are still the biggest two single sources of income, the non-energy sector overtook oil and gas in Qatari GDP for 2009. Qatar is heavily dependant on foreign labour from countries such as India, Sri Lanka, Bangladesh, the Phillipines and other Arab countries. Foreigners make up approximately two thirds of the Qatari population.

DOHA, QATAR - OCTOBER 24: A worker carries a gas canister next to new highrise office buildings and hotels under construction in the new City Center and West Bay district on October 24, 2010 in Doha, Qatar. The International Monetary Fund (IMF) recently reiterated its projection for the Qatari economy with predictions of double digit growth for 2010 and 2011. Though natural gas and petroleum production are still the biggest two single sources of income, the non-energy sector overtook oil and gas in Qatari GDP for 2009. Qatar is heavily dependant on foreign labour from countries such as India, Sri Lanka, Bangladesh, the Phillipines and other Arab countries. Foreigners make up approximately two thirds of the Qatari population.

DOHA, QATAR - OCTOBER 28: New highrise office buildings and hotels, many of them still under construction, stand in the new West Bay and Oneiza district near City Center mall on October 28, 2010 in Doha, Qatar. The International Monetary Fund (IMF) recently reiterated its projection for the Qatari economy with predictions of double digit growth for 2010 and 2011. Though natural gas and petroleum production are still the biggest two single sources of income, the non-energy sector overtook oil and gas in Qatari GDP for 2009.

A National Guard Blackhawk helicopter flies over the oil slickas it passes through the protective barrier formed by the Chandeleur Islands, as cleanup operations continue for the BP Deepwater Horizon platform disaster off Louisiana, on May 7, 2010. The Gulf of Mexico oil slick threatens disaster for the fragile US coast, causing clean-up efforts to focus on the best of a bad set of options: fight it there before it arrives here. An army of workers hired by British Petroleum, along with the US Coast Guard and local officials in Louisiana, have rushed to set out protective booms, spread dispersants and burn the oil when they can as it moves toward the shore. The strategy is to deal with the growing slick as much as possible before it laps into wetlands on Louisiana's coast, where its effects could be catastrophic and cleaning it is infinitely more difficult if not impossible.

Algeria's Minister of Energy and Mines Youcef Yousfi arrives for the 157th meeting of the OPEC, the Organization of the Petroleum Exporting Countries, on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting here on Thursday to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Iraqi Minister of Oil Hussein Al-Shahristani arrives for the 157th meeting of the OPEC, the Organization of the Petroleum Exporting Countries, on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting here on Thursday to decide whether to make changes to its oil output amid a pick-up in demand for energy.

Qatari Minister of Energy and Industry Abdullah bin Hamad al-Attiyah arrives for an Organization of the Petroleum Expoting Countries (OPEC) ministerial meeting on October 14, 2010 in Vienna. OPEC, which pumps 40 percent of the world's oil, began a ministerial meeting today to decide whether to make changes to its oil output amid a pick-up in demand for energy.