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The remark appeared to suggest that the Organisation of Petroleum Exporting Countris -- which pumps 40 percent of the world's crude oil -- could cut crude production at the consultative meeting in the Egyptian capital. OPEC member nations have watched their revenues slide this year as oil prices slumped from record highs above 147 dollars in barrel July to around 50 dollars. (Yahoo News -- Top Stories)
Second Wave Petroleum Announces Third Quarter Results, CO2 Processing Plant Purchase and the Successful Drilling of its First Two Horizontal Oil Wells in Provost Nov 28, 2008
Source: Second Wave Petroleum Inc. ... CALGARY, ALBERTA--(Marketwire - Nov. 28, 2008) - Second Wave Petroleum Inc. ("Second Wave" or the "Company") (TSX VENTURE: - ) is pleased to announce its operating and financial results for the three and nine months ended September 30, 2008, the purchase of a CO2 Processing Plant in the Battle Creek area of Saskatchewan and the successful drilling of its first two horizontal Mannville oil wells in Provost ... Quarterly Financial Summary 2008 2007... (CCNMatthews Press Releases)
OPEC struggles to find balance in oil market Nov 28, 2008
But the outcome of the meeting, billed as a consultative gathering to assess the impact of earlier production cuts, likely hinges on a key issue with which the Organization of Petroleum Exporting Countries has had a checkered past: unity ... It failed to support prices, and the cartel hastily convened the Cairo gathering on the sidelines of the Organization of Arab Petroleum Exporting Countries' meeting. (International Herald Tribune -- Travel)
Russia praises US on Nato decision Nov 28, 2008
Whatever the reasons, European pressure or whatever else, the main thing is that they [Washington] no longer push ahead with their previous ferociousness and senselessness," he said in Havana, where he held talks with Cuban leaders. The comments came a day after Condoleezza Rice, the US secretary of state, decided not to offer Georgia and Ukraine a formal roadmap to join Nato. Washington led a push for the alliance to allow them in through a so-called Membership Action Plan, or MAP. Britain has... (Aljazeera.net)
Oil find brings challenges- Geophysicist Nov 28, 2008
Accra, Nov. 27, GNA - Mr. Theophilus Ahwireng, Geophysics Manager of the Ghana National Petroleum Corporation (GNPC), on Wednesday underscored the urgent need by stakeholder institutions to develop the human capacity to meet the challenges of the nascent oil industry. In a lecture in Accra on the theme: "the Geological and Geophysical Contexts of the Oil Discovery" Mr Ahwireng said the nation should be able to provide technicians in all the areas and opportunities opened by the discovery. (Ghana Web, Ghana)
AllianceBernstein takes stake in Petrocan Nov 28, 2008
In addition, it has made sizable investments in foreign firms that have stakes in Alberta's oil sands, including Norway's StatoilHydro ASA, and U.S.-based companies Occidental Petroleum Co. and Devon Energy Corp.. AllianceBernstein spokesman John Meyers wouldn't comment on the fund's recent investments. (Globe and Mail -- Business)
OPEC says oil stocks high but might delay cut until December Nov 28, 2008
OPEC Secretary General Abdalla Salem El-Badri said ahead of a consultative meeting of the Organisation of Petroleum Exporting Countries in Cairo on Saturday that the "market is over-supplied.". Against that background, Iran and Qatar's oil ministers said the cartel will make a decision on whether to cut output in the face of tumbling crude prices when ministers meet in Algeria on December 17. (Sydney Morning Herald -- World)
Asian commodity shares rise on stimulus plans Nov 28, 2008
"Sadly, those efforts will in part be successful.'' Credit losses and writedowns at financial companies have neared $US1 trillion worldwide, spurring central banks and governments to cut rates and spend more to stimulate economies. The People's Bank of China on Nov. 26 reduced its benchmark lending rate by the most in 11 years, while the European Union proposed a 200 billion euro ($US258 billion) spending package, joining Japan, China and the US in crafting economic plans. President-elect Barack... (Sydney Morning Herald -- Business)
Oil falls before OPEC meeting Nov 28, 2008
Ministers from the Organization of Petroleum Exporting Countries, which supply 40% of the world's oil, are meeting tomorrow for the third time in as many months to discuss a further cut in production after crude prices plunged. OPEC decided last month to reduce production quotas by 1. (Sydney Morning Herald -- Business)
Reality bites the world Nov 28, 2008
The pair battled over whether petroleum (BHP) was better than aluminium (Rio) and exchanged various barbs in public. Internally, Rio employees were amazed at how "on message" BHP stayed throughout the period. (Sydney Morning Herald -- Business)
Ethanol’s Environmental, Economic Profiles Superior to Gasoline Nov 28, 2008
This is in stark contrast to overall consumer petroleum demand. Next year, ethanol consumption will increase, while overall petroleum demand falls, says Gustafson ... Prices of ethanol, along with most petroleum products, have dropped considerably since midsummer. (Agri-View, WI)
Gasoline prices drop to lowest level in LA in 3 years Nov 28, 2008
Crude oil costs account for two-thirds to three-quarters of the price of a gallon of gasoline, said Tupper Hull, director of strategic communications of the Western States Petroleum Association, a trade association representing major oil companies in six Western states. Nationally, the average price of a gallon of self-serve unleaded gasoline fell 2. (Xinhuanet, China)
Stalks rise, fall Nov 28, 2008
Joel Hunter, an agronomist, or crop specialist, with Crawford County Cooperative Extension, expects corn prices to bounce back to some degree, possibly moving in tandem with petroleum prices. But he can't begin to say when or by how much. (Erie Times-News, PA)
Oryx output fetches high prices Nov 28, 2008
Oryx is a joint venture between Qatar Petroleum (51 percent) and Sasol (49 percent) ... The stability of the plant, a venture with Qatar Petroleum, was improving, it added. (Business Report, South Africa)
PPI gives hint of more price falls to come Nov 28, 2008
A similar trend was seen in the prices of products of petroleum and coal. This component of the index rose 24 percent over 12 months, reflecting the impact of record oil prices earlier in the year, but fell 5. (Business Report, South Africa)
Commodity prices decline at historic pace Nov 28, 2008
Similar cutbacks, such as Petro-Canada's mid-November delay of its $21-billion Fort Hills project, will slash oilsands investment in 2009 by 20 per cent to $16 billion from $20 billion, according to the Canadian Association of Petroleum Producers. Scotiabank's metals and minerals index was equally dire. (Calgary Herald)
Petroleum Development Corporation Files Form S-3 Registration Statement Nov 27, 2008
Nov. 26 /PRNewswire-FirstCall/ -- Petroleum Development Corporation (Nasdaq: ) announced today that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission, or the SEC. When declared effective by the SEC, the shelf registration statement will allow the Company to raise capital from time to time, up to an aggregate of $500 million, through the sale of debt securities, common stock, preferred stock, either separately or represented by depositary shares,... (PR Newswire)
Mukesh for stable oil pricing globally Nov 27, 2008
The 6,60,000 barrels per day refinery, being constructed by Reliance Petroleum - a unit of RIL, is to be completed by the end of 2008 and Ambani gave hints the unit may be on track. "When in 1999 we started our first refinery (also at Jamnagar), we have a recession (globally) and when we are about to start our second refinery, history is repeating itself," he said at a lecture on role of energy here. (India Times)
Govt to review fuel prices on Dec 1 Nov 27, 2008
NEW DELHI: Petroleum secretary RS Pandey has said that the government will review retail prices of petrol, diesel, kerosene and cooking gas in the light of a dip in global crude oil prices on December 1 and send the report to the Cabinet Committee on Economic Affairs (CCEA) ... The Petroleum Ministry cant decide alone ... Dispelling reports about recommended price cuts by the petroleum ministry, Mr Pandey said: I cant anticipate what the government (CCEA) would decide. (India Times)
Nigeria: PTDF - Lopsided Appointments and Other Matters Arising [editorial] Nov 27, 2008 BJP fuels EC notice against Deora Nov 27, 2008 Twoco Petroleums Ltd. Third Quarter Highlights and 2008 Update Nov 27, 2008 CORRECTION FROM SOURCE: TG World Provides Corporate Update Nov 27, 2008 Painted Pony Announces Q3, 2008 Financial Results Nov 27, 2008 As oil prices fall, tensions among OPEC members seem to deepen Nov 27, 2008 Oil falls to near $53 as US demand outlook worsens Nov 27, 2008 Federated States of Micronesia--2008 Article IV Consultation, Concluding Statement Nov 27, 2008 More of this story Nov 27, 2008 Detroit wrote its own ending Nov 27, 2008 Fire at HPCL refinery Nov 27, 2008 Nigeria may reject OPEC oil cut Nov 27, 2008 Petrol dips, but diesel's pumped up Nov 27, 2008 Oil rises toward $53 a barrel Nov 27, 2008 Platts Launches New China Domestic Grade Fueloil, LPG Assessments Nov 26, 2008 Standard & Poor's Announces Changes to U.S. Indices Nov 26, 2008 Sri Lankan oil betburns $300m hole Nov 26, 2008 IMF's double-edged rescue for Pakistan Nov 26, 2008 German Import Prices Drop Most Since Records Began in 1962 on Cost of Oil Nov 26, 2008 A Hard Look At Oil Nov 26, 2008 Cnooc In Talks With Anadarko On South China Sea ... Nov 26, 2008 Pacific Rubiales Announces Exploration Success at Quifa Block Nov 26, 2008 Small Investors Struggle for a Piece of Chevron Nigeria Nov 26, 2008 Nigeria: Oil Firms Pay N15 Billion Fine for Gas Flaring in Three Years Nov 26, 2008 Ethiopia: OiLybya Begins Pouring Oil in Nov 26, 2008 Nigeria: Country, Angola to Be Highest-Earning Oil Producers By 2030 Nov 26, 2008 Report: Russia may work with OPEC on output cut Nov 26, 2008 Clean energy recommended to revitalize economy Nov 26, 2008 The IMF loan will help improve Pakistan`s balance of payments and will steer the country out of its current fiscal crisis Nov 26, 2008 Presidential ping-pong over executive orders Nov 26, 2008 Eroding oil prices could affect Montana Nov 26, 2008 Imperial Energy buyout: no pre-condition for OVL Nov 26, 2008 Sonia keen on fuel price cut; Prime Minister cautious Nov 26, 2008 Feds Get It Wrong Again: Ethanol, a Troublesome Substitute for Oil, Natural Gas, Coal, and Nuclear Power Nov 26, 2008 Looking for the Fuel of the Future Nov 26, 2008 Aveva, HCC address engineer shortage Nov 26, 2008 Markets: Mixed markets in Asia on U.S. data, abandoned Rio bid Nov 26, 2008 Syrian Arab Republic -- 2008 Article IV Consultation, Concluding Statement Nov 26, 2008 CEO takes once-hyped ethanol company in new direction Nov 26, 2008 Oil futures tumble, and gasoline prices keep falling Nov 26, 2008 Gas discovery in Moz Nov 26, 2008 Hugo Chavez’s Bleak Political Future Nov 26, 2008 Council of State cautions govs on arms purchase Nov 26, 2008 Iraqi Kurds to begin solo exports of crude oil Nov 26, 2008 Honda whips out fuel-cell sci-fi style sportster Nov 25, 2008 India to pitch 20% in Sakhalin-3 oil fields Nov 25, 2008 RIL to start closed fuel stations? Nov 25, 2008 Gulf investors eye deals amid crisis Nov 25, 2008 It's Time to Buy Nov 25, 2008 Nigeria: Govt Lacks Will to Stop Gas Flaring - Mark Nov 25, 2008 Nigeria: Oil Discovery Ignites Tenure Elongation Debate in Niger Republic Nov 25, 2008 Agency cites stagnation, cuts oil price forecast Nov 25, 2008 Oil spikes 9 percent on another bailout Nov 25, 2008 Anadarko recognized by EPA Nov 25, 2008 Dow rises 396 points Nov 25, 2008 Columbia High Student Heather Whitehead, 16, tops off her mothers GMC Envoy at the B&B Food Store on U.S. Highway 441. Regular gasoline prices officially dipped below $2 per gallon in Florida this week. Hopefully gas prices stay like this when I get my own car, Whitehead said, pumping $1.98 per gallon fuel into her vehicle. Ill be happy with gas to stay around this price. JASON MATTHEW WALKER/Lake City Reporter Nov 25, 2008 Pervasive corruption fuels deep anger in Afghanistan Nov 25, 2008 Eroding oil prices could affect Montana Nov 25, 2008 UPDATE 1-India may cut fuel prices after Dec. 24 - govt Nov 25, 2008 Delek refinery worker dies in Tyler fire Nov 25, 2008 India to attend meeting on Turkish pipeline project Nov 25, 2008 Why hijack a plane when you can seize a supertanker? Nov 25, 2008 LNG Energy Granted New PNG Licenses Nov 25, 2008 Canadian Spirit Resources Inc. Announces Third Quarter 2008 Financial Results Nov 25, 2008 Positive Feasibility Study Converts 6.2 Million Ounces to Mineral Reserves at Canadian Malartic Project Nov 25, 2008
Prior to the riveting exchange of brickbats between former President Olusegun Obasanjo and his deputy, Atiku Abubakar, not many Nigerians knew about the existence of the Petroleum Technology Development Fund (PTDF) talk less of the lofty objectives it was designed to accomplish - except, perhaps, a sprinkling of bureaucrats and persons with inside information ... Where adequate physical facilities constitute a cog in the wheel of effecting a robust needs-driven and sustainable human capacity in... (allAfrica.com)
Nigeria: Mobil $3.5 Billion Investment Ups Oil Output, Reduces Flares Nov 27, 2008
Mobil Producing Nigeria (MPN) is the operator of the Nigeria National Petroleum Corporation/MPN Joint Venture. Mr. John Chaplin, Chairman and Managing Director of MPN who incidentally has been promoted to the position of Vice President of the ExxonMobil Corporation and is expected to leave the country shortly explained that the East area Projects includes Additional Oil Recovery (AOR) and Natural Gas Liquids 11 (NGL11). (allAfrica.com)
Union petroleum minister Murli Deoras Tuesday comment on reducing fuel prices after the assembly elections saw the BJP petitioning the Election Commission against the Centres fuel for votes politics and the poll panel issuing a notice to the minister ... Suggesting that the announcement was made with the intention of influencing voters, Mr Naqvi said: There has been a persistent demand by the public for reduction in petroleum prices but the government has been vacillating ... On... (Economic Times)
Source: Twoco Petroleums Ltd. ... CALGARY, ALBERTA--(Marketwire - Nov. 26, 2008) - Twoco Petroleums Ltd. ("Twoco") (TSX VENTURE: - ) is pleased to announce financial and operating results for the quarter ended September 30, 2008 and an update of its 2008 activities ... - Petroleum and natural gas sales revenue growth to $4,263,059 - a 22% increase from the Third Quarter 2007. (CCNMatthews Press Releases)
The reimbursement amount that TG World has applied, or is applying, for from the State of Alaska's Petroleum Production Tax program remains unchanged at CAD$10 ... On March 18, 2006, TG World Energy Inc., a wholly-owned subsidiary of TG World, entered into a major exploration project through the formation of a joint venture with Brooks Range Petroleum Corp. The BRPC / TG World Joint Venture was formed as an exploration strategic alliance covering a large area of mutual interest on the Alaskan... (CCNMatthews Press Releases)
Source: Painted Pony Petroleum Ltd. ... CALGARY, ALBERTA--(Marketwire - Nov. 26, 2008) - Painted Pony Petroleum Ltd. (TSX VENTURE: - ; TSX VENTURE: - ; "Painted Pony" or the "Company") is pleased to report the financial and operational accomplishments since the end of the second quarter of 2008 ... Patrick R. Ward Painted Pony Petroleum Ltd. President & CEO (403) 475-0440 (403) 238-1487 (FAX) Joan E. Dunne Painted Pony Petroleum Ltd. Vice President, Finance & CFO (403) 475-0440 (403) 238-1487... (CCNMatthews Press Releases)
But the Organization of the Petroleum Exporting Countries is increasingly torn between its moderate members, led by Saudi Arabia, which can afford a period of lower oil prices, and countries with high government spending, like Iran and Venezuela, which have become much more dependent on high prices. These two groups have often clashed in the past, and as prices plummet the tensions are once again bubbling to the surface. (International Herald Tribune)
Expectations of a production cut by the Organization of Petroleum Exporting Countries has helped support prices. OPEC, which accounts for 40 percent of global supply, will hold an informal meeting Saturday in Cairo and an official meeting Dec. 17 in Algeria. (International Herald Tribune)
To level the competitive playing field, remaining state-owned enterprises should be brought into the tax system (as done with the National Petroleum Corporation) and be encouraged to seek out market financing, instead of subsidized government loans. This would help strengthen their commercial orientation by raising the cost of capital to a market-determined rate (from the current zero level). (IMF News)
Replacing just one gallon of petroleum diesel cuts down on 20 pounds of carbon emission ... This mix of vegetable oil, methanol and lye produces biodiesel and glycerin, which is interchangeable with petroleum or can be blended with petroleum and used in diesel engines. (Westerly Sun, RI)
The discovery and development petroleum and the auto industry has radically altered the human experience. Some would argue that the changes have not all been for the better. (Winona Daily News, MN)
VISAKHAPATNAM: Huge flames from atop the hillocks, north of the Hindustan Petroleum Corporation Limited (HPCL) Visakha Refinery this evening spread panic in and around Malkapuram area. A large number of people rushed to the refinery as rumours spread that there was a massive blast at the HPCL site. (Express Buzz)
UNLESS other member-countries of the Organisation of Petroleum Exporting Countries (OPEC) effect the cuts earlier agreed on by the body, Nigeria may not feel obliged to carry out any further cut in its daily crude oil production. The Federal Government's position came yesterday just as indications emerged that the Escravos-Lagos pipeline project awarded to produce adequate gas for completed power plants to generate, transmit and distribute electricity was stalled due to an alleged conflict... (Guardian News, Nigeria)
He said diesel-powered cars were seen by the petroleum giants as a niche market, but predicted a resurgent interest in diesel would shrink the gap ... The Organisation of the Petroleum Exporting Countries will meet this weekend, and Mr Evans said it was likely it would cut production by about one million to 112 million barrels. (The Canberra Times)
The oil market is also watching an informal meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Cairo on Saturday. OPEC ministers are likely to debate a deep cut in oil supply amid the downward price spiral but hold off taking a decision until their policy-setting meeting in mid-December in Algeria. (India Times, India)
NEW YORK, Nov. 25 /PRNewswire/ -- Platts, a leading global provider of energy and commodities information and a division of The McGraw-Hill Companies (NYSE: ), this month introduced new Chinese domestic grade assessments for fuel oil and liquefied petroleum gas (LPG) to complement the organization's existing coverage of imported grades. For fuel oil, Platts now assesses domestic-grade 180 centistoke (CST) 2. (PR Newswire)
Holly Corp. is an independent petroleum refiner and marketer. Headquartered in Dallas, TX, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Refining & Marketing Sub-Industry index. (PR Newswire)
COLOMBO - The Sri Lankan government is grappling with a US$300 million payout to Citibank and Standard Chartered Bank (SCB), following disastrous oil futures contracts between the banks and the state-owned Ceylon Petroleum Corporation (CPC) ... SCB and Citibank have been accused of not properly informing the state petroleum supplier of the risks involved in the futures contracts, but deny any wrongdoing ... Even though Organization of Petroleum Exporting Countries is cutting down production to... (Asia Times Online)
Subsidies for power, gas and petroleum products will be eliminated by next July, according to the Business Recorder. This condition will be particularly tough if it is applied to agricultural inputs, as at present the government provides a subsidy of 32 billion rupee on fertilizers. (Asia Times Online)
Prices for petroleum products were down 3 percent on the year and 20 ... Excluding crude oil and petroleum products, import prices rose 4. (Bloomberg -- Germany)
A commission task force concluded that the tight worldwide balance between petroleum supply and demand caused the price spike, not speculators. Plenty of oil analysts disagree. (San Francisco Chronicle -- Business)
HONG KONG -- Chinese oil major Cnooc is in talks with Anadarko Petroleum Corp. to farm into an exploration block in the South China Sea currently being developed by the U.S. oil firm, according to a report Wednesday. Dow Jones Newswires reported that the talks mark a departure from its strategy for Cnooc, which previously waited until a commercial oil or gas discovery was made before taking an interest in blocks awarded to foreign partners. (Fox News)
Ronald Pantin, the company's Chief Executive Officer, stated "This well should add new reserves that can be developed using the production infrastructure that we are building in the Rubiales field and reinforces our optimism about the exploration potential of the other prospects in the Quifa Block." Pacific Rubiales, a Canadian-based company and producer of natural gas and heavy crude oil, owns 100 percent of Meta Petroleum Limited, a Colombian oil operator which operates the Rubiales and Piriri... (Canada Newswire)
At the end of last financial year, Chevron Oil ranked among the highest paying companies, both on the Nigerian Stock Exchange and particularly the petroleum products marketing sub-sector, where its 750 kobo per share placed it second only to Total Nigeria, which offered 990 kobo by way of interim (350 kobo per share) and final dividend of 640 kobo, from its earnings per share of N12 ... The two industrial unions, the National Union of Petroleum and Natural Gas (NUPENG) and the Petroleum and... (allAfrica.com)
Meanwhile the Nigerian National Petroleum Corporation (NNPC) in a break from its policy will today hold a meeting with the Host Communities of Nigeria in Abuja towards resolving issues otherwise articulated by militants in the oil rich region. Officials of the Department of Petroleum Resources (DPR) who revealed the collection for gas flaring at the Senate public hearing on a bill on gas flaring also confirmed that oil companies were yet to commence paying the new $3 ... The total collection for... (allAfrica.com)
After it bought Agip's business in Ethiopia in 2000, it exited from the Liquified Petroleum Gas (LPG) business in 2004 ... Following the agreement it signed with Shell Ethiopia in July, the company has discussed its future business with Girma Birru, minister of Trade and Industry (MoTI), Alemayehu Tegenu, minister of Mines and Energy, and Yigzaw Mekonnen, general manager of the Ethiopian Petroleum Enterprise (EPE) ... Following a decision in October 2004, by the Ethiopian Council of Ministers to... (allAfrica.com)
com: Nigeria: Country, Angola to Be Highest-Earning Oil Producers By 2030 (Page 1 of 1). Enter your search terms. (allAfrica.com)
Even after the 13-nation Organization of Petroleum Exporting Countries cut oil production by 1. 5 million barrels a day last month crude oil prices have fallen to about $50 a barrel - a third of their July peak of nearly $150. (Anchorage Daily News)
Halt further planned lease sales in the Arctic Ocean, Bristol Bay and conservation priority areas of the National Petroleum Reserve-Alaska. ADVERTISEMENT. (Anchorage Daily News)
Also on Tuesday, the UAE petroleum minister and Zardari discussed prospects of co-operation in the energy sector, and Abu Dhabi National Energy Company Vice President Abdullah Khunji expressed interest in setting up a coal-based power plant in Pakistan. agencies. (Daily Times, Pakistan)
But The American Petroleum Institute, the trade association that represents the oil and natural gas industry, says it doesn't want Obama to re-impose the ban. Access for exploration and drilling in previously closed areas in the United States and offshore is vital to meeting U.S. energy demand, says the API.. (MSNBC -- Politics)
"Many producers are drastically slashing their drilling budgets for 2009," said Youlden, who is also the secretary-treasurer for the Montana Petroleum Association. If there is any good news for the Montana oil industry, it is that wells have already been drilled in most of the known oil-bearing areas, so there is no great expense in continuing to allow those wells to pump oil. (Montana Standard, MT)
NO STRINGS ATTACHED: Union Petroleum and Natural Gas Minister Murli Deora (right) with Russian Energy Minister Sergey Shmatko (centre) and Deputy Minister of Oil, Gas Industry and Mineral Resources of Turkmenistan B. Nedirov at the India-CIS roundtable on hydrocarbons in New Delhi on Tuesday ... If the Indian company acquires Imperial Energy, we are not going to put forward any demand (regarding reciprocal stake in Indian oil PSUs), Russian Energy Minister Sergey Shmatko said while speaking to... (Hindu)
The BJP has charged the Petroleum Minister with violating the model code of conduct ... Petroleum Minister Murli Deora earlier said the government will cut petrol and diesel prices after December 24 when the Assembly elections are over. (NDTV.com)
According to a report by the Hudson Institute, "converting undeveloped land to cropland-in order to grow more corn and facilitate biofuel production-releases a massive amount of carbon dioxide. Only if biofuels are made from waste products or grown on abandoned agricultural lands does the production process actually reduce greenhouse gas emissions." In addition, inasmuch as ethanol separates from gasoline in the presence of water, the blends of ethanol and gasoline that we put in our cars cannot... (Townhall.com)
GTL can be used on its own or blended with diesel and has been cited by the California Energy Commission as the most cost-effective "alternative fuel" in reducing tail pipe emissions and our dependence on petroleum. 2. (Fairfax Chronicle, VA)
Cera also found that more than 50 percent of current petroleum engineers are expected to retire by 2015, an attrition rate of about 6 percent a year. Reader Comments. (Houston Business Journal, TX)
Ministers of the Organization of the Petroleum Exporting Countries next gather in Cairo on Saturday, but that meeting has been called a consultative session, with its next policy-setting meeting scheduled for Dec. 17 in Algeria. . (International Herald Tribune)
The authorities launched a program to phase out petroleum subsidies in May 2008 ... The mission encourages the authorities to take further measures to reduce the petroleum subsidies. (IMF News)
We re talking about [hundreds of] billions in petroleum spending alone that leaves our country. We have to keep that money here. (Atlanta Journal-Constitution -- Business)
Investors are eyeing the Organization of Petroleum Exporting Countries, which accounts for 40% of global supply, for signs the group may reduce output quotas at an informal meeting Saturday in Cairo. Venezuelan Oil Minister Rafael Ramirez said Sunday that OPEC should cut oil production by 1 million barrels per day at the Cairo meeting. (USA Today -- Money)
Sasol Petroleum Sofala, a subsidiary of South African petrochemicals giant Sasol, has a 50 percent share in the consortium. Petronas Carigali Mocambique, an exploration company, holds 35 percent and Mozambique's national oil company, Empresa Nacional de Hidrocarbonetos (ENH), holds the remaining 15 percent. (iAfrica.com)
Gustavo Coronel is a petroleum geologist, author and public policy expert, who was elected to the Venezuelan Congress in 1998 before it was dissolved in 1999 following the election of Hugo Chavez as president. Coronel is currently designated as an "enemy" of the Chavez regime. (Human Events Online)
In a statement at the end of the seminar, the participants urged media practitioners to strive to be better informed on issues affecting the Niger Delta region as well as pursue advocacy journalism, particularly in respect of adverse effects of the Land Use Decree and Petroleum Act while similar legislations should be sustained until they were amended or repealed. Tools. (Guardian News, Nigeria)
Tawke is being developed by independent Norwegian oil company DNO, while Turkey's Genel Enerji and Canada's Addax Petroleum Corp. are jointly operating Taq Taq. . (International Herald Tribune -- Arts)
In the words of American Honda Motor Co. VP Dan Bonawitz, the Honda FC Sport explores how to satisfy automotive performance enthusiasts in a world beyond petroleum. people who love sports cars will still have a reason to love a hydrogen-powered future. (Reg Hardware)
On the insistence of Petroleum Minister Murli Deora, Russian Prime Minister Vladimir Putin is sending Shmatko to attend the conference of energy ministers of the Commonwealth of Independent States that New Delhi is hosting on November 25-26. Deora, who first raised the issues when he met Putin in Moscow on November 5, is likely to discuss threadbare the modalities of ONGC Videsh Ltd replicating its 20 per cent stake in Exxon Mobil-operated Sakhalin-1 oil and gas fields in the upcoming Sakhalin-3... (India Times)
Pvt retailers keen on starting closed fuel stations: Petroleum Secy- Oil & Gas-Energy-News By Industry-News-The Economic Times ... Pvt retailers keen on starting closed fuel stations: Petroleum Secy25 Nov 2008, 1258 hrs IST, PTI ... "Essar Oil few days back told us that they have resumed operations in about 500 petrol pumps... Reliance has also informed that they are keen on reopening their outlets," Petroleum Secretary R S Pandey said today. (India Times)
Abu Dhabi's Mubadala, one of the world's most active state funds, signed a deal Monday with Occidental Petroleum Corp. to develop natural gas fields in Oman. Financial terms were not disclosed. (India Times)
4%; and Parallel Petroleum (nasdaq: - - ) (3, PLLL), P/E 4 ... 7%; Occidental Petroleum (nyse: - - ) (46, OXY), P/E 5, yield 2. (Forbes -- Markets)
"He said that the Committee was concerned about the non-implementation of the various deadlines fixed by the government for gas flare down, stressing that this had motivated it to come up with the bill on gas flaring which seeks to outlaw flaring by December 31, this year.Izunaso, who gave an insight into the provisions of the Bill, said that the Bill proposed stiffer penalties for defaulters, including a shut-down order by the Minister of Energy (Petroleum) as against the hitherto fine of $4... (allAfrica.com)
Last year, the president invited a Chinese firm, Crimex National petroleum company, CNPC to study the prospect of oil exploration and determine whether the quantity is commercially viable or not. After series of geological surveys, the company confirmed availability in commercial quantity in several areas of the country, with the richest of the oil deposits found in Diffa, an enclave of ongoing militant rebellion in the eastern part of the country. (allAfrica.com)
The Organization of Petroleum Exporting Countries has reduced target production and EIA said price levels "will primarily depend on the magnitude and duration of the economic downturn as well as OPEC and non-OPEC behavior." The agency's price projection "assumes that the OPEC production cut may limit, but not reverse, the recent sharp fall in oil prices.". Prices are expected to remain relatively flat, averaging $60 to $65 per barrel next year. (Anchorage Daily News)
Investors are looking for signs the Organization of Petroleum Exporting Countries, which accounts for 40 percent of global supply, may reduce output quotas. Venezuelan Oil Minister Rafael Ramirez said Sunday that OPEC should cut oil production by 1 million barrels per day at an informal meeting Nov. 29 meeting in Cairo. (Anchorage Daily News)
Published: Monday, November 24, 2008 12:44 PM MST Anadarko Petroleum Corp. was recognized by the Environmental Protection Agency on Thursday for its work on reducing emissions of methane gas. The company has reduced emissions each year since 1996 and has received numerous awards for its work. (Gillette News-Record, WY)
5 percent to 42 cents; Delta Petroleum (DPTR), down 8 percent to $5. 52; ProLogis (PLD), off 7. (Denver Business Journal, CO)
The only bad news associated with the fall in demand of oil is the announcement by the Organization of the Petroleum Exporting Countries to lower its production target by 1. 5 million barrels per day, effective Nov. 1, according to a EIA report, noting that OPEC is hoping to stabilize oil prices. (Lake City Reporter, FL)
One man, Azizullah Rozi, in charge of the petroleum and gas department under the Commerce Ministry, was sent to jail for three months. But now he is back at work. (Chicago Tribune)
"Many producers are drastically slashing their drilling budgets for 2009," said Youlden, who is also the secretary-treasurer for the Montana Petroleum Association. If there is any good news for the Montana oil industry, it is that wells have already been drilled in most of the known oil-bearing areas, so there is no great expense in continuing to allow those wells to pump oil. (Montana Standard, MT)
State-run firms Indian Oil Corp (IOC.BO: , , ), Bharat Petroleum Corp (BPCL.BO: , , ) and Hindustan Petroleum Corp (HPCL.BO: , , ), have resisted moves to cut fuel prices arguing they need to make up for losses incurred earlier as crude rates soared. (Reporting by Nidhi Verma; Editing by Mark Williams). (Reuters India)
Brentwood, Tennessee-based Delek (NYSE: DK) is an energy company with assets in the petroleum refining, marketing and retail industries. Reader Comments. (Dallas Business Journal, TX)
R.S. Pandey, Indias petroleum and natural gas secretary, confirmed the countrys participation in the meeting. It is always good to contribute to new opportunities. (Livemint)
"If a boat which didn't even cost $1,000 managed to devastate an oil tanker ... imagine the extent of the danger that threatens the West's commercial lifeline, which is petroleum.". Peter Chalk, a terrorism-risk analyst at the Rand Corporation think tank, said in a report on piracy and terrorism in June that "there has been a modest yet highly discernable spike in high-profile terrorist incidents at sea over the past six years". (The Star Online, Malaysia)
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 25, 2008) - LNG Energy Ltd. ("LNG Energy" or the "Company") (TSX VENTURE: - ) is pleased to announce that the Company filed for and received approval of its top file applications for its petroleum prospecting licenses ("PPLs") in Papua New Guinea ... Petroleum retention license 13 remains the same ... "We are very pleased to have completed this comprehensive review of our assets and the subsequent adjustment to the land holdings in our significant... (CCNMatthews Press Releases)
Capital Expenditures ($CDN) For the nine month periods ended September 30 2008 2007 ---------------------------------------------------------------------------- Geological and geophysical $ 50,419 $ 18,990 (Recovery of) drilling and completion costs (3,726,673) 2,725,177 Capitalized overhead 444,441 490,156 ------------- ------------- Total petroleum and natural gas (3,231,813) 3,234,323 Lease acquisitions and retentions 76,568 72,294 Office equipment and furnishings 62,060 3,251 -------------... (CCNMatthews Press Releases)
Our current cash resources allow us to continue the development in accordance with our schedule".Environmental Impact AssessmentOsisko submitted its environmental impact assessment study for its Canadian Malartic mining project to Quebec's Ministere du Developpement durable, de l'Environnement et des Parcs (MDDEP) on September 4, 2008.The impact study concluded that chosen site for mining infrastructure, the selected technology, and the open communication with the various stakeholders, the... (CCNMatthews Press Releases)
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