By HASSAN HAFIDH
A consortium led by Exxon Mobil Corp. and Royal Dutch Shell PLC accepted contract amendments made by the Iraqi government to develop an oil field in southern Iraq, a senior Ministry of Oil official said.
“They have accepted the changes, and we are finalizing the deal with them on Jan. 25,” Abdul Mahdy al-Ameedi, [...]
Magellan Petroleum Corporation (Nasdaq: MPET - News; ASX: MGN - News) reported a consolidated net loss of $1.3 million (loss of $0.03 per share) on gross revenues of $8.9 million for its fiscal first quarter ended September 30, 2009, as compared to net income of $1.5 million ($0.04 per share) on revenues of $10.4 million [...]
BAGHDAD – The Iraqi government has approved a deal with a consortium led by British giant BP PLC to develop a prized oil field in the south in a major step forward for the country’s oil industry.
BP, which was booted from the country in 1972 when Saddam Hussein nationalized the oil industry, and its partner [...]
HOUSTON–(BUSINESS WIRE)–BPZ Resources, Inc. (NYSE Amex:BPZ) announced today that it entered into definitive agreements to sell 18.8 million shares of its common stock at $4.66 per share in a registered direct offering. The transaction is expected to close on or about June 30, 2009, subject to customary closing conditions.
BPZ Resources intends to use the net [...]
SYDNEY (Reuters) - Oil firms began restarting operations off western Australia on Wednesday after a cyclone passed through the region and forced the shutdown of production platforms accounting for nearly half of Australia’s oil output.
Separately, miner Rio Tinto Ltd/Plc (RIO.AX)(RIO.L) said it had restarted iron ore loading operations in western Australia’s Port Dampier after a [...]
Oil Closes Below $50, Lowest Price Since May 2005
After rising to dizzying heights this summer, the oil market is suffering a hair-raising drop with no apparent end in sight.
Oil prices fell to their lowest level in more than three years, falling below $50 a barrel on Thursday, after shedding close to $100 in four months [...]
BEIJING (AFP) – China National Petroleum Corp (CNPC), the country’s largest oil producer, said Wednesday that it had signed a three-billion-dollar deal to develop an oil field in Iraq.
The contract, signed on Monday in Baghdad, allows CNPC and another Chinese company, Zhenhua Oil, to develop the Al-Ahdab oil field in the province of Wasit for [...]
SINGAPORE (Dow Jones Newswires), November 4, 2008
Cambodia remains on track to start up its first oil field next year from a Chevron Corp. led project, but “considerable caution must be exercised” in terms of the project’s commercial viability, a senior official of the Cambodian National Petroleum Authority said Tuesday.
“It’s premature to speculate” how much oil [...]
By SEBASTIAN ABBOT
BAGHDAD (AP) — Recurrent violence in oil-rich parts of Nigeria may provide a sobering lesson for oil companies hoping to work in Iraq — a place that is much more dangerous despite the fact that attacks are at their lowest level in more than four years.
Representatives of 35 international oil companies will meet [...]
By Jonathan Wheatley
President Rafael Correa of Ecuador has threatened to expel foreign oil companies operating in the country and to nationalise installations at an oil field operated by Petrobras, the Brazilian state oil company.
The new threats add to tensions with Brazil over the expulsion last month of Odebrecht, a Brazilian construction company that built a [...]
