Experts predict oil recovery for the second half of 2015

The world oil markets are mired in uncertainty at the abrupt collapse of the “petro prices.” Analysts agree that precipitation is due to a strong excess of supply over the weakened global demand. Too much oil and OPEC does not react, “said analyst Ehsan Ul-Haq...

International Oil closed at $ 54.12 in late 2014

The WTI Crude, reference to  the Ecuadorian crude, closed at a price of $ 54.12 in December 30 of 2014, said the international news agency Efe. The figure shows a recovery from the losses that had been accumulating in recent months. The numbers reflect an increase of 0.95%....

Fees payment to private oil companies is affected by low oil prices

The contract of services provision for private oil companies start to have complications by the low on oil prices. The state can eventually participate in a lesser amount in the oil revenue from private companies, to which it pays a fixed rate. Furthermore, it could begin to...