SAN RAMON, Calif.–(BUSINESS WIRE)–Chevron Corporation (NYSE:CVX - News) announced today that its subsidiary, Cabinda Gulf Oil Company Ltd. (CABGOC) and its partners, commenced crude oil production at the Tombua-Landana project located 50 miles (80 kilometers) offshore Angola.
Located in approximately 1,200 feet (366 meters) of water in Block 14, the $3.8 billion development is expected to [...]
VAALCO Energy, Inc. (NYSE: EGY - News) today reported a net loss attributable to VAALCO of $1.7 million or ($0.03) per diluted share for the second quarter of 2009 compared to net income of $13.0 million or $0.22 per diluted share for the comparable period in 2008. Second quarter 2009 revenues were $32.1 million compared [...]
Chevron discovers oil and natural gas off coast of Angola, extends presence in West Africa.
SAN RAMON, Calif. (AP) — Chevron Corp. on Friday said its affiliate struck oil and natural gas off the coast of Angola.
The second-largest U.S. oil company said its affiliate Cabinda Gulf Oil Co. Ltd. and its partners made the discovery in [...]
By Henrique Almeida
VIENNA (Reuters) - OPEC’s Angolan president said on Sunday the group’s existing supply curbs had brought some stability to the market, although prices remained too low to encourage investment in new supplies.
The Organization of the Petroleum Exporting Countries decided earlier on Sunday to leave formal output targets unchanged and step up adherence to [...]
Secretary General of OPEC, said that more than contain oil market is big and strong output cut is needed, sending crude oil prices on world markets in question.
The president of OPEC, but here too, that the unanimous support of the reduction in Organization
Note that speculation that the State of the Organization of Petroleum Exporting Countries [...]
Total announced positive appraisal results for the Moho Nord Marine-3 well, lying around 80 kilometers offshore of the Republic of Congo in 1,030 meters of water in the northern part of the Moho-Bilondo license. The discovery follows on from the Moho Nord Marine-1 and 2 finds in 2007.
Moho Marine Nord-3 was drilled to a total [...]
By Maher Chmaytelli and Ayesha Daya
Nov. 30 (Bloomberg) — OPEC deferred a decision on reducing production this year by two weeks to gauge the impact of earlier cuts, as it seeks to push oil prices back up to $75 a barrel.
Crude has dropped 62 percent from July’s record of $147.27 a barrel as the global [...]
IRVING, Texas, Nov 19, 2008 (BUSINESS WIRE) — Exxon Mobil Corporation (NYSE:XOM) announced today its affiliate, ExxonMobil Exploration and Production Turkey B.V., has signed an agreement with Turkish national oil company, TA 1/4rkiye Petrolleri Anonim OrtaklAAYA (TPAO), to explore in two large deepwater blocks offshore Turkey, marking ExxonMobil’s entry into Black Sea exploration.
ExxonMobil will become [...]
San Francisco Business Times - by Steven E.F. Brown
Oil giant Chevron Corp. agreed to sell 165 gas stations and other assets in East Africa.
The San Ramon company has been slimming down its “downstream” business in Africa and South America this year, selling off gas stations and associated fuel storage and transport businesses.
In this deal Chevron’s [...]
By Fayen Wong
PERTH (Reuters) - Oil hovered above $60 a barrel on Friday, as support from a weakening U.S. dollar was countered by an increasingly gloomy economic outlook that weighed on near-term energy demand.
Comments by OPEC-member Libya that the oil-producing cartel was not considering cutting production again also kept the commodity at a 1- year [...]
