HOUSTON–(BUSINESS WIRE)–Today, Halliburton (NYSE:HAL - News) announced the recent deployment of its new Hostile Sequential Formation Tester II (HSFT-II™) tool. This latest formation evaluation tool allows operators to evaluate formations at increased pressures and temperatures, up to 30,000 pounds per square inch (psi) and 450°F, respectively, and in boreholes as small as four inches. No [...]

ConocoPhillips (NYSE: COP - News), JSC National Company KazMunayGas (KMG) and Mubadala Development Company PJSC (Mubadala) today announced that they have signed project agreements allowing the joint exploration and development of the Nursultan Block (N Block) located in offshore Kazakhstan.
KMG as majority owner will hold a 51 percent interest in the subsoil use contract and [...]

LONDON (AFP) – Oil prices rose on Friday on signs of increasing energy demand in the United States, traders said, as the market focus began switching to a meeting of the OPEC cartel next week.
New York’s main futures contract, light sweet crude for delivery in July, climbed 45 cents to 61.50 dollars a barrel.
Brent North [...]

DUBAI (AFP) — The economies of Middle East oil exporters are likely to suffer from a possible prolonged global recession as demand for the region’s main export wanes, the International Monetary Fund said on Sunday.
Government expenditure, however, should mitigate the slowdown, the IMF said in a report released in Dubai.
Arab states in the Gulf and [...]

By Jane Merriman
LONDON (Reuters) - Oil pared gains on Monday after a rise above $40 a barrel, in response to a weak dollar and Israeli attacks on Hamas that served as a reminder of tensions that could threaten Middle East crude oil supplies.
U.S. light, sweet crude was up $1.16 at $48.87 a barrel by 10:06 [...]

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 [...]

SINGAPORE (AFP) – World oil prices turned higher in Asia on Wednesday after earlier losses, while investors awaited a weekly US report for more clues about demand in the world’s biggest energy user, dealers said.
New York’s main futures contract, light sweet crude for January delivery, rose 1.21 dollars to 43.28 dollars a barrel. The contract [...]

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 [...]

JAKARTA(Dow Jones Newswires), November 18, 2008
PT Medco Energi Internasional is seeking investors from the Middle East to take part in the development of an oil and gas field in Libya, the Indonesia-listed company said Tuesday.
Medco said in a filing to the Indonesia Stock Exchange that the company is studying various options to raise funds [...]

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 [...]