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 [...]
By MICHAEL RICHARDSON
SINGAPORE — Cash-rich China is using a period of relatively low oil prices to improve its energy security and ensure that its economy has the oil-based fuels needed to sustain growth when recovery from the slump takes hold.
Should Japan, which is currently far more reliant on imported oil than China, adopt a similar [...]
BAGHDAD, April 27 (UPI) — Iraq increased its signature bonuses for international oil companies to take part in six oil and two gas blocks to a total of $2.6 billion.
Reviews of the Final Tender Protocol by the Platts news service suggest the substantial size of the bonus is more characteristic of a loan to the [...]
Chevron Corp. rode 2008’s historic spike in oil prices to a record $23.93 billion annual profit, despite the petroleum market’s collapse in the second half of the year.
Chevron’s profit report, released Friday, graphically illustrates just how high oil prices rose last summer and how far they fell as the economic crisis cut the world’s thirst [...]
BAGHDAD — Iraq announced on Wednesday that it would begin a second round of bids to license international oil companies to develop 11 oil and gas fields or groups of fields.
Iraq’s oil minister, Hussain al-Shahristani, said at a news conference that he hoped that these fields could be producing 2 to 2.5 million barrels of [...]
BAGHDAD, Dec 30 (Reuters) - Iraq will put 10 oil fields up for tender in a new round of bidding for international contracts that opens on Wednesday, the oil minister said.
In comments on state-owned Iraqiya TV late on Monday night, Oil Minister Hussain al-Shahristani said the fields would include “giant discovered but undeveloped oil [...]
BAGHDAD – Iraq’s self-ruled Kurdish regional government will export crude oil for the first time by early next year, a Kurdish official said on Wednesday.
Ashti Hawrami, the natural resources minister in the Kurdistan region, said an initial 100,000 barrels per day of crude oil from two northern Iraqi fields would be sent through a pipeline [...]
The Cabinet Committee on Economic Affairs (CCEA) today approved the award of 44 oil and gas exploration blocks under the seventh round of auction of the New Exploration Licensing Policy (Nelp-VII). The allotment is expected to attract investments of $1.5 billion, around 57 per cent less than the $3.5 billion commitment for the [...]
OSLO, Norway (AP) — The Norwegian government’s operating profit on its direct investment in the Nordic countries offshore oil fields rose 27 percent in the third quarter to 35.6 billion kroner ($5.3 billion) on high crude prices, Petoro AS announced Tuesday.
The government company Petoro AS, which manages investments but does not operate fields, also said [...]
