Pasa gives licences to foreign oil firms Nov 6, 2009
The Petroleum Agency of SA (Pasa) had awarded oil and gas exploration licences two foreign multinational companies in two deep water offshore basins, Pasa chief executive Mthozami Xiphu said yesterday. In the Orange River basin off the West Coast, Pasa had accepted an application for exploration from Shell. (Business Report, South Africa)
Falcon Security CEO quits after racism saga Nov 6, 2009
The Petroleum Agency of SA (Pasa) had awarded oil and gas exploration licences two foreign multinational companies in two deep water offshore basins, Pasa chief executive Mthozami Xiphu said yesterday. . (Business Report, South Africa)
Applications for seven open county seats due by Friday Nov 6, 2009
- Vicki Kissack, Yates Petroleum ... - L.D. Gilberts, Yates Petroleum. (Gillette News-Record, WY)
Nigeria: No Going Back On Deregulation, Says Yar'Adua Nov 6, 2009
Abuja PRESIDENT Umaru Yar'Adua has said that the deregulation of the downstream sub-sector of the petroleum industry is inevitable, but that government is still holding consultations with stakeholders on the necessity of the action ... President Yar'Adua said the Petroleum Industry Bill, now before the National Assembly, is aimed at repositioning the Nigerian National Petroleum Corporation, NNPC, to become a transparent, accountable and profitable business concern, existing without any budgetary... (allAfrica.com)
Peak oil? Don't worry -- Obama's on the job Nov 6, 2009
In 1920, under the aegis of the League of Nations, Britain cobbled together the Kingdom of Iraq from the Ottoman provinces of Basra, Baghdad and Mosul in order to better exploit the holdings of the Turkish Petroleum Company, forerunner of the Iraq Petroleum Company (IPC) ... They also imagined that, greeted as liberators by a grateful population, they would preside over a radical upgrading of Iraq's petroleum capacity, thereby ensuring adequate supplies for American consumers at an affordable... (Salon)
Gas Prices Down 1 Cent Nov 6, 2009
The association says prices have stabilized this week because oil prices are less volatile, and petroleum consumption is down. Copyright 2009 by. (Click2Houston, TX)
Big Oil Hires Durbin, No. 2 Senate Democrat's Nephew, to Lobby Congress Nov 6, 2009
The American Petroleum Institute named as executive vice president of government affairs yesterday, just hours after Democrats who control the Senates Environment and Public Works Committee approved legislation that would impose limits on carbon-dioxide emissions and increase fuel-production costs ... The recruitment of Martin Durbin isnt the first time Big Oil has tapped a Democratic lobbyist to carry the petroleum industrys message to Capitol Hill. (Bloomberg -- US)
Iran claim cloudsTurkey's energy goals Nov 6, 2009
The agreement would in principle allow the Turkish Petroleum Corporation (TPAO) to capture some of the gas produced for export to Europe. Yet it is far from clear where the capital for investment will come from during the current worldwide economic crisis, which affects Turkey as well. (Asia Times Online)
Download Wednesday's presentations Nov 5, 2009
Persistently researching renewable fuel sources to reduce the consumption of petroleum. Community Support. (Rockford Register Star)
Nigeria: Yar'Adua Proposes Budget Worth Billions for Niger Delta Nov 5, 2009
Muhtar informed the House that the supplementary budget was occasioned by a number of factors, including the urgency of consolidating and sustaining peace in the Niger Delta; the need to put in place strategic interventions geared towards addressing the transitional costs, which would accompany envisaged reforms in the downstream sector of the petroleum industry as well as meeting additional expenditure needs of government ... Yar'Adua said: "This is crucial to rebuilding confidence and trust in... (allAfrica.com)
Restoration agreement two views Nov 5, 2009
Old fashioned and happy wrote on Oct 30, 2009 3:33 PM:" To Observer:You sound Marxist or Socialist or Ghia ist ?? Do you believe in :Environmental causes and fish "first" over human needs-Fear too many people believe in enforced population control -Have little or no respect for private property -Believe in Communal "solutions"-Believe in Re-distribution of the wealth-Express Anger at earned wealth-Anger at successful business people-Anger at established judicial methods of problem... (Klamath Falls Herald & News, OR)
Oil is back to $80 per barrel as dollar slides Nov 5, 2009
Last month the secretary general of the Organization of Petroleum Exporting Countries told the London Times that $80 per barrel was "a little bit high at this time of economic crisis." Abdalla El-Badri, of Libya, pointed out that there are millions of barrels of oil floating in huge tankers on the ocean, and said supply is not the problem. He blamed oil speculators, as do others. (The Star Online, Malaysia)
Delphi Reports Strong Third Quarter Financial and Operating Results Nov 5, 2009
Financial Highlights ($ thousands except per unit amounts) Three Months Ended Nine Months Ended September 30 September 30 2009 2008 % Change 2009 2008 % Change ---------------------------------------------------------------------------- Petroleum and natural gas sales 24,433 34,461 (29) 71,867 105,242 (32) Per boe 39 ... The horizontal section was approximately 1,000 metres in length and completion operations consisted of six intervals being fracture stimulated using a combination of multi stage... (CCNMatthews Press Releases)
Daylight Resources Trust Reports Third Quarter 2009 Financial and Operating Results- Significant Operational Results Validate Resource Play Strategy on Multiple Fronts Nov 5, 2009
THIRD QUARTER FINANCIAL AND OPERATIONAL RESULTS ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Financial (CDN$ thousands, except unit, per unit and operational Q3 Q2 Q3 YTD YTD data) 2009 2009 2008 2009 2008 ---------------------------------------------------------------------------- Petroleum and natural gas revenues $ 66,100 $ 66,649 $ 145,269 $ 204,642 $ 410,426... (CCNMatthews Press Releases)
Jaipur blaze challengesIndia's oil priorities Nov 5, 2009
Petroleum Minister Murli Deora called a meeting of leading international and Indian oil companies on November 3 ... IOC is one of 14 state-owned petroleum-related companies, others including Hindustan Petroleum, Oil & Natural Gas Corp and Bharat Petroleum ... Petroleum is often a controversial subject in India, with retail petrol prices and civil aviation fuel in the country among the highest in the world. (Asia Times Online)
Caza Oil & Gas Announces Third Quarter Results Nov 5, 2009
In accordance with AIM Rules - Guidance Note for Mining, Oil and Gas Companies, the information contained in this announcement has been reviewed and approved by Anthony B. Sam, Vice President Operations of Caza who is a Petroleum Engineer and a member of The Society of Petroleum Engineers ... Petroleum and Production Revenue ... An additional 26,502,000 common shares are issuable pursuant to certain exchange rights attached to certain outstanding common shares of Caza Petroleum. (CCNMatthews Press Releases)
Caza Oil & Gas Announces Hydrocarbon Discovery and Provides Operational Update Nov 5, 2009
In accordance with AIM Rules - Guidance Note for Mining, Oil and Gas Companies, the information contained in this announcement has been reviewed and approved by Anthony B. Sam, Vice President, Operations of Caza who is a Petroleum Engineer and a member of The Society of Petroleum Engineers. ADVISORY REGARDING FORWARD LOOKING STATEMENTS. (CCNMatthews Press Releases)
Oil slips below $80 as US dollar strengthens Nov 5, 2009
U.S. oil inventories dropped last week, the American Petroleum Institute said late Tuesday. Crude stocks fell 3. (Fresno Bee -- Business)
Unilever reports 36 percent fall in Q3 profit Nov 5, 2009
Oil companies have begun to pump more petroleum and bring in more profits as they recover from an otherwise miserable year. None of the world's biggest producers, however, see a quick return to boom times of last year. (Fresno Bee -- Business)
Statoil partners with China in Gulf of Mexico Nov 5, 2009
Oil companies have begun to pump more petroleum and bring in more profits as they recover from an otherwise miserable year ... Anadarko Petroleum Corp. said Monday its profit plunged during the third quarter, but that sales volume will jump this year even though spending has declined. (Fresno Bee -- Business)
RIL becomes 1st private firm to buy Cairn crude Nov 5, 2009
Relinace will pay the same price as agreed between Cairn and government-nominated buyers such as ONGC subsidiary MRPL, IndianOil and Hindustan Petroleum. "The implied price realisation represents an average 10-15% discount to Brent (crude) on the basis of prices prevailing for the six months to September 2009," Cairn said in a statement on Wednesday. (India Times)
Green your car from top to tires Nov 5, 2009
The dB Super E-spec from Yokohama Tire Corporation are made with orange oil, which replaces much of the normally-used petroleum ... "Essentially, the Super E-spec blends renewable natural rubber with the orange oil extracted from peels at juicing plants. This combo makes the tire 80 percent petroleum free, which is great for the environment. "Folks can also save cash at the gas pump because the orange oil tires are lighter and more fuel efficient. (South County Chronicle, VA)
Some Methane Formation Not Biologically Based? Nov 5, 2009
An oil pump taps deposits of petroleum deep beneath the Earth ... 11, 2008) Microbes that break down oil and petroleum are more diverse than we thought, suggesting hydrocarbons were used as an energy source early in Earth's history, scientists. (Science Daily)
New fuel for debate Nov 5, 2009
Supporters of ethanol in particular -- and they include Great Valley Ethanol, a company that still has plans on the books to bring an ethanol plant to Hanford -- say it's a cleaner-burning alternative to petroleum ... When petroleum prices soared in 2007, corn ethanol production rose along with it. (Hanford Sentinal, CA)
Leaving a legacy of Transparency in Ghanas Oil and Gas Industry Nov 5, 2009
In Nigeria, 40 years of petroleum exports (about $340 billion earned) have not helped raise standards of living but rather exacerbated conflicts; Gabon, sub-Saharan Africas fourth biggest oil producer and the worlds third biggest provider of manganese still has an estimated population of 1 ... The statement made by the president evoked the belief that Chad would completely break the chain of history which paints a grim picture of what is likely to accompany rapid growth in petroleum... (Ghana Web, Ghana)
Aloha Petroleum offers ethanol-free gas at its Kahalu'u station Nov 5, 2009
Boaters and owners of older cars and trucks can now purchase ethanol-free gasoline from Aloha Petroleum's retail gas location in Kahalu'u ... "We have many customers on the windward side who use ethanol-free gas for their boats, older cars and lawn mowers," said Richard Parry, president and chief executive officer of Aloha Petroleum. (Honolulu Advertiser)
"Kufuor's modus operandi exposed" - Here are the FACTS Nov 5, 2009
This find was not enough to be characterized as "commercial quantities." The Ghana National Petroleum Company was subsequently born in 1985 to focus more on oil and gas ... They are: Houston Texas based Nuevo Energy , UK based Dana Petroleum ,Australias Perth based Fusion Oil and Gas , Dallas Texas based Hunt Oil Company , Houston based Santa Fe Snyder ... Investors felt oil exploration was too risky and too expensive with the conditions of our Petroleum Agreements business unfriendly. (Ghana Web, Ghana)
Should the president go to Cape Coast or to Elmina? Nov 5, 2009
But the politicization of petroleum issues and selfishness of our politicians have always made the shoe look very ugly on the other foot ... In 2004, the Kufuor Government spent about 1,872 billion ($200 million) to subsidize the consumption of petroleum- higher than the 1,449 billion budgeted for the 2004 Ministry of Health and equivalent to the total HIPC relief for Ghana ... Then, I will stop the blame-shifting and hit the ground running with my better Ghana agenda to attain long term... (Ghana Web, Ghana)
Beacon Hill Roll Call Nov 5, 2009
Divest state funds from terrorist nations and Texas (H 4297) House 0-152, rejected an amendment to a bill requiring the $50 billion state pension fund to divest its holdings in foreign companies doing business related to petroleum with Iran. Supporters of the bill itself say that Iran is one of the most evil and dangerous nations in the world and should not receive any support from Massachusetts pension fund. (Chelmsford Independent, MA)
Redefining America Nov 5, 2009
He is absolutely correct about America's profligate consumption of imported petroleum and the huge social, economic and political costs we incur because we are unwilling to tax gasoline and diesel fuel the way virtually all of Europe does. How might we benefit from a tax on gasoline. (Fresno Bee -- Opinion)
Why Big Oil Is Back in Iraq Nov 5, 2009
ENI and its partners, Occidental Petroleum () and , plan to increase output at Zubair from the current level of 190,000 barrels per day to 1. 125 million within seven years. (BusinessWeek)
Irving agrees to buy Maine petroleum terminals Nov 5, 2009
PORTLAND, Maine (AP) -- Irving Oil Terminals Inc. says it has reached an agreement with ExxonMobil to buy two petroleum terminals in South Portland and Bangor and the 124-mile pipeline that connects them ... Irving Oil Terminals, based in Portsmouth, N.H., markets and distributes petroleum products throughout New England. (Concord Monitor)
Australia Sets Up Commission to Investigate 10-Week Oil Spill in Timor Sea Nov 5, 2009
Clearly the Montara incident has damaged the standing of the petroleum industry in Australia. The PTTEP spill is the first accident among 1,500 wells drilled in Australian waters since 1984, he said. (Bloomberg -- Australia & New Zealand)
Big Guns Stay Clear of Jubilee Mess in Ghana Nov 5, 2009
Ghanas nascent petroleum industry, still a year away from production of oil for export, has attracted attention from some of the worlds top energy companies in what has become a tussle for Jubilee ... The following day, Ghana National Petroleum Corp. said it was still in talks with Kosmos on acquiring the assets itself and would consider proposals from potential partners once the sale was complete ... Anadarko Petroleum Corp. controls 23. (Ghana Web, Ghana)
Exxon, Dutch Shell Win Iraq Oil Contract Nov 5, 2009
Eni and its partners, the U.S.'s Occidental Petroleum Corp. and South Korea's KOGAS, aim to boost output to 1. 1 million barrels per day within seven years, up from the current 200,000 barrels per day. (CBS News -- Sci/Tech)
Give us all a future Nov 5, 2009
From the mid-1990s, it has funnelled all the extra government revenue that flowed from petroleum exports straight into its imaginatively titled Norwegian Petroleum Fund, later renamed the Government Pension Fund ... Its Timor-Leste Petroleum Fund has grown to $A6 billion in just four years, all of it invested offshore, none of it near the locals or their politicians. (Sydney Morning Herald -- Business)
Clough loses contract at oil spill field Nov 5, 2009
A safety assessment for the reboarding operation is in train and PTTEP said it was working with the National Offshore Petroleum Safety Authority to obtain the necessary approvals needed to reboard the offshore facility. "Once aboard the well head platform, the team will conduct detailed assessments and safety preparations to determine how the next phase to plug and fully secure the H1 well will be carried out following the damage caused by the fire," PTTEP said. (Sydney Morning Herald -- Business)
MPs fail to refer PM for misleading House Nov 5, 2009
Citing the Standing Orders, Dr Dzulkifli told Dewan Rakyat that Najib, in his reply on the issue of oil royalties, had misled the House when he said that Kelantan and Terengganu only had the right to claim oil royalties from petroleum found in waters three nautical miles off the states territory. Dr Dzulkifli also said the Petroleum Development Act did not have such a condition as stated by Najib, adding that payment should be in the form of royalties and not wang ehsan (goodwill payment). (The Star Online, Malaysia -- News)
Lawsuits have Shell debating Arctic drilling Nov 5, 2009
Shell, the giant oil company that hopes to open a new petroleum frontier for Alaska, says it will decide within months whether to risk sending a large fleet of vessels to drill for oil and gas in the Beaufort and Chukchi seas next summer. Story tools. (Anchorage Daily News)
Oil Falls, Snapping Three Days of Gains, on Signs Demand Is Yet to Rebound Nov 5, 2009
Stockpiles of crude in Petroleum Administration for Defense District 2, where Cushing is, rose 622,000 barrels to 78. 1 million barrels for the week ended Oct. 30, the highest in six weeks. (Bloomberg -- Germany)
State investigates work accident at Arctic Slope Nov 5, 2009
It operates divisions in petroleum refining and marketing, government technical services, energy services and construction. It was not immediately clear what division of the company Fay worked for, but Standley said preliminary reports are that he was a laborer. (Juneau Empire)
Fairborne Energy Ltd. Announces 2009 Third Quarter Financial and Operating Results Nov 4, 2009
2009 THIRD QUARTER HIGHLIGHTS Financial ($thousands, except per share amounts) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Three months ended Nine months ended September 30, September 30, 2009 2008 2009 2008 Petroleum and natural gas revenue 55,244 97,489 182,219 253,777 Funds generated from operations (1) 37,236 55,307 105,948 148,866 Per share - basic $ 0 ... 78... (CCNMatthews Press Releases)
K.K Sarpong lies Nov 4, 2009
Daily Post has spotted the two fees calculated by the K.K Sarpong's Administration for some Oil Marketing Companies who imported finished petroleum products into the country a couple of years ago ... At another juncture, he laid the blame at the feet of the National Petroleum Authority, NPA, as well as the NPP government because they never paid subsidies money due TOR to it. (Ghana Web, Ghana)
Now It's Time to Find a Scape Goat Nov 4, 2009
If it is found to have contravened that plan then the company could face penalties under the Petroleum (Submerged Lands) (Management of the Environment) Regulations 1999 (Regulations) ... It is why Australian Petroleum Production and Exploration Association came out and express frustration at the handling of the disaster by PTTEP (an amazing statement given PTTEP is a member). (Sydney Morning Herald -- Opinion)
Depressed markets leave big cos with little room to invest Nov 4, 2009
This was due to combined impact of the Reliance Petroleum merger, equity infusion by the promoters and fund raising by the company. Last year, RILs debt outstanding rose by about Rs 36,000 crore while its reserves went up by Rs 46,000 crore. (India Times)
Applications for seven open county seats due by Friday Nov 4, 2009
- Vicki Kissack, Yates Petroleum ... - L.D. Gilberts, Yates Petroleum. (Gillette News-Record, WY)
Earthquake recorded off coast of Humboldt County Nov 4, 2009
Both the FBI and the Bureau of Alcohol, Tobacco, Firearms and Explosives dispatched more than 60 agents each to the Caribbean Petroleum Corp. in Bayamon, just west of San Juan, said ATF spokesman Marcial Orlando Felix. Several agents flew in from the U.S.. (Fresno Bee -- State)
Factory orders post fifth increase in six months Nov 4, 2009
9% increase in August, led by petroleum, chemicals and food products ... In October, the ISM said 13 of the 18 manufacturing industries surveyed expanded, led by petroleum and coal production, apparel and furniture. (USA Today -- Money)
Idemitsu Kosan Cuts Full-Year Profit Forecast on Weak Petroleum Margins Nov 4, 2009
Idemitsu Cuts Net Forecast on Weak Petroleum Margins (Update1) - Bloomberg ... Idemitsu Cuts Net Forecast on Weak Petroleum Margins (Update1). (Bloomberg -- Japan)
Oil Steady as U.S. Crude Stocks Drop Offsets Fuel Rise Nov 4, 2009
Industry group American Petroleum Institute said late on Tuesday that U.S. gasoline stocks rose by 501,000 barrels last week against forecasts for a 300,000-barrel increase, while distillate supplies increased by 1. 8 million barrels versus predictions for a 1 million-barrel decline. (ABC News -- Business)
Oil Falls to Near $79 Despite US Crude Supply Drop Nov 4, 2009
U.S. oil inventories dropped last week, the American Petroleum Institute said late Tuesday. Crude stocks fell 3. (ABC News -- Business)
Oil falls despite US crude supply drop Nov 4, 2009
US oil inventories dropped last week, the American Petroleum Institute said late Tuesday. Crude stocks fell 3. (Sydney Morning Herald -- Business)
Oil prices rise before US energy report Nov 4, 2009
Gasoline (petroleum) stocks are seen falling 100,000 barrels while distillates, which include diesel and heating oil, are tipped to have declined by one million barrels. 2009. (Sydney Morning Herald -- Business)
Woodside again taps US bond market Nov 4, 2009
Woodside Petroleum Ltd has again tapped the US bond market for funds to repay short-term debt and help pay for projects. "Woodside has entered into an agreement for the issuance of $US700 million ($A772.9 million) in corporate bonds into the United States 144A bond market," Australia's second largest oil and gas producer said in a statement on Wednesday. (Sydney Morning Herald -- Business)
MasTec buying Precision Pipeline LLC Nov 4, 2009
(NYSE: MTZ) has signed a $150 million deal to buy LLC, a Wisconsin company that provides infrastructure for natural gas and petroleum pipelines. The company also plans a $100 million private offering of senior convertible notes to help pay for the acquisition. (South Florida Business Journal, FL)
Delphi Energy Announces Closing of Hythe Property Acquisition Nov 4, 2009
More particularly and without limitation, this release contains forward looking statements and information relating to the Company's risk management program, petroleum and natural gas production, future funds from operations, capital programs, commodity prices, costs and debt levels. The forward-looking statements and information are based on certain key expectations and assumptions made by Delphi, including expectations and assumptions relating to prevailing commodity prices and exchange rates,... (CCNMatthews Press Releases)
TSX Venture Exchange Daily Bulletins for November 3, 2009 Nov 4, 2009
TSX VENTURE COMPANIES BULLETIN TYPE: Cease Trade Order BULLETIN DATE: November 3, 2009 TSX Venture Tier 2 Company A Cease Trade Order has been issued by the Autorite des marches financiers on November 3, 2009, against the following Company for failing to file the document indicated within the required time period: Period Ending Symbol Company Failure to File (Y/M/D) ("GFP") Gale Force Petroleum Annual Financial Statements 09/06/30 Inc. Upon revocation of the Cease Trade Order, the Company's... (CCNMatthews Press Releases)
Factory orders pick up in September Nov 4, 2009
9 percent increase in August, led by petroleum, chemicals and food products ... In October, the ISM said 13 of the 18 manufacturing industries surveyed expanded, led by petroleum and coal production, apparel and furniture. (MSNBC -- Business)
Nigeria: Current Fuel Scarcity Justifies Deregulation, Says Govt Nov 4, 2009
It further warned that any marketer found to be hoarding petroleum products would face the full weight of the law ... And for that reason, he insists on continuous dialogue with labour and other critical stakeholders until we reach a meaningful consensus and hopefully that will come very soon," he stated. Meanwhile, the Senate yesterday launched into an hour-long closed session at the end of which it resolved to summon the Minister of Petroleum, Dr. Rilwanu Lukman, and the Group Managing... (allAfrica.com)
China's CNPC starts building Myanmar oil pipeline Nov 4, 2009
" onclick="Next();" src="/images/butt_next (Channelnewsasia.com)
Gas Prices Chugging Higher As Holidays Near Nov 4, 2009
Gas prices are rising even as Americans drive much less than they did before the recession hit, and as the country sits on massive petroleum supplies. A weak dollar is making fuel more expensive. (Click2Houston, TX)
China voices firm opposition to Dalai Lama's visit to China-India border region Nov 4, 2009
Approximately 25,000 Chinese workers in such sectors as power generation, communication and petroleum in India will be affected by the new policy, according to India's media reports. "With regard to the visa issue, China has expressed its concerns to India for many times," said Ma. (Xinhuanet, China)
Hidden Solar Cells: 3-D System Based On Optical Fiber Could Provide New Options For Photovoltaics Nov 4, 2009
11, 2008) Despite oil prices that hover around 100 a barrel, it may take at least 10 or more years of intensive research to reduce the cost of solar energy to levels competitive with petroleum, according. . (Science Daily)
Oil uncertainty pushes KIUC to find alternatives Nov 4, 2009
The sky is almost the limit as far as petroleum is concerned, Bissell said last week at the monthly KIUC Board of Directors meeting at KIUC headquarters in Lihu e.. The uncertainty of oil prices makes it that much more important for KIUC leaders to push forward aggressively with plans for alternative forms of energy, he said, to try to mitigate our exposure. (Lihue Garden Island, HA)
Nigeria: 'Yar'adua is a Liar!' Nov 3, 2009
Lagos So says the Nigerian National Petroleum Corporation and the Pipeline and Products Marketing Company, a subsidiary wholly owned by NNPC that is responsible for the marketing and distribution of petroleum products on behalf of the corporation ... The Nigerian National Petroleum Corporation is not just limited to catering to the government's interest in the crude oil exploration and production programme alone, like other major oil marketers, it is a major oil marketing firm that markets and... (allAfrica.com)
