RSS Oil & Gas Journal News

Enerplus enters Marcellus shale joint development

Mon, 24 Aug 2009 17:46:00 GMT

August 24,2009 --

Enerplus Resources Fund entered into a joint development agreement for work in the Marcellus shale with two private companies, both based in Texas.

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MMS, India agency to informally share offshore resource data

Mon, 24 Aug 2009 17:30:20 GMT

August 24,2009 --

The US Minerals Management Service informally agreed with its counterpart in India on Aug. 21 to exchange offshore oil, gas, and mineral resource management and development information.

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Study lists House clean air bill's possible refining impacts

Mon, 24 Aug 2009 16:35:50 GMT

August 24,2009 --

US refining investments could plunge because of soaring business costs if clear air legislation that the US House passed in June becomes law, a study commissioned by the American Petroleum Institute concluded.

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MARKET WATCH: Crude hits new high for 2009 near $75/bbl

Mon, 24 Aug 2009 15:45:10 GMT

August 24,2009 --

The new front-month October crude contract shot up to near $75/bbl in intraday trading before settling at a new high for the year on Aug. 21 in New York as economic data backed claims by Federal Reserve Chairman Ben Bernanke that the US economy.......

CFTC makes further term changes with ICE Futures Europe

Fri, 21 Aug 2009 18:10:10 GMT

August 21,2009 --

The US Commodity Futures Trading Commission announced further amendments on Aug. 20 to terms under which ICE Futures Europe may makes its electronic trading and order matching system available to exchange members in the US.

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MARKET WATCH: Gas drops to 7-year low of under $3/MMbtu

Fri, 21 Aug 2009 18:01:00 GMT

August 21,2009 --

Natural gas dropped to a 7-year low to less than $3/MMbtu Aug. 20 in New York market despite the US Energy Information Administration reporting a lower-than-expected injection of gas into US storage; the expiring September contract for benchmar.......

FACTS: No natural gas imports for Pakistan before 2014-15

Thu, 20 Aug 2009 21:30:10 GMT

August 20,2009 --

LNG will not reach Pakistan before 2015, with pipeline gas from Iran not expected before 2014, according to the new brief “Iran-Pakistan Pipeline Deal: Future Role of Gas and LNG in Pakistan’s Power Sector,” by FACTS Global En.......

MARKET WATCH: Large draw of oil stocks boosts energy prices

Thu, 20 Aug 2009 17:30:50 GMT

August 20,2009 --

The front-month crude contract jumped above $72/bbl Aug. 19 in the New York market after the US Energy Information Administration reported the largest drawdown of crude inventories in 15 months.

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US CFTC, UK's FSA to expand oil market surveillance

Thu, 20 Aug 2009 17:16:00 GMT

August 20,2009 --

The US Commodity Futures Trading Commission and Britain’s Financial Services Authority have agreed to strengthen cross-border supervision of energy markets, the chairmen of the two countries’ agencies announced.

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Brazil contemplating changes in oil law

Wed, 19 Aug 2009 22:10:20 GMT

August 19,2009 --

Brazil’s President Luiz Inancio Lula da Silva expects to send proposed changes in the country’s oil laws to Congress within 2 weeks, he announced during an Aug. 18 speech in Rio de Janeiro state.

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DOE funds nine shale gas, CBM technology efforts

Wed, 19 Aug 2009 19:35:50 GMT

August 19,2009 --

The US Department of Energy’s National Energy Technology Laboratory is supporting nine projects targeting environmental tools and technology for shale gas and coalbed methane production, DOE’s Fossil Energy Office announced.

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MARKET WATCH: Energy prices rebound; crude inventories drop

Wed, 19 Aug 2009 18:00:40 GMT

August 19,2009 --

Energy prices rebounded Aug. 18 as the value of the US dollar fell ahead of a large, unexpected drop in US crude inventories.

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Maersk Oil makes management changes

Wed, 19 Aug 2009 16:50:40 GMT

August 19,2009 --

Maersk Oil elected Jakob Thomasen as its new chief executive officer.

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CFTC to examine CCE's carbon instrument

Wed, 19 Aug 2009 16:40:10 GMT

August 19,2009 --

The US Commodity Futures Trading Commission will examine whether a carbon financial instrument that trades on the Chicago Climate Exchange (CCE) performs a significant price discovery function, CFTC said Aug. 17.

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RIIA: West has exaggerated fear of Asia over African oil

Wed, 19 Aug 2009 16:30:30 GMT

August 19,2009 --

Western fears about increasing Asian interest in securing African oil resources are highly exaggerated, according to a recent report by the UK’s Royal Institute for International Affairs.

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Thailand's PTTEP reduces 2009 budget

Wed, 19 Aug 2009 15:40:30 GMT

August 19,2009 --

Thailand’s PTT Exploration & Production PLC (PTTEP) has cut its 2009 capital expenditures by 12%, or 16 billion baht ($470.58 million), to 120 billion baht to cope with the economic slowdown.

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ExxonMobil pleads guilty to killing birds

Tue, 18 Aug 2009 21:06:00 GMT

August 18,2009 --

ExxonMobil Corp. pleaded guilty in US District Court in Denver to violating the federal Migratory Bird Treaty Act in five states during the past 5 years.

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Magellan settles federal charges stemming from 2004 ammonia spills

Tue, 18 Aug 2009 20:55:30 GMT

August 18,2009 --

Magellan Ammonia Pipeline Co. and two of its former affiliates agreed to pay a $3.65 million civil fine to resolve federal water pollution charges stemming from two 2004 ammonia spills, the US Department of Justice and the Environmental Protect.......

Venture dismisses Centrica's final offer deadline

Tue, 18 Aug 2009 20:25:40 GMT

August 18,2009 --

Venture Production PLC again rejected the £1.3 billion cash takeover bid from Centrica Ltd., despite a deadline extension to Aug. 28 to buy shares in the company.

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NPRA elects Klesse as association chairman

Tue, 18 Aug 2009 18:10:10 GMT

August 18,2009 --

The National Petrochemical & Refiners Association has elected Bill Klesse, Valero Energy Corp. chief executive officer, president, and chairman, as chairman of the association.

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New BLM director appoints deputy director for policy

Tue, 18 Aug 2009 17:46:00 GMT

August 18,2009 --

US Bureau of Land Management Director Robert V. Abbey on Aug. 17 named Marcilynn Burke, an attorney and professor at the University of Houston Law Center, as BLM’s deputy director for policy.

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MARKET WATCH: Energy prices continue to fall

Tue, 18 Aug 2009 17:20:10 GMT

August 18,2009 --

Commodities generally tumbled Aug. 17, with crude falling to its lowest price in 2 weeks, as traders lost faith in an imminent economic recovery and the US dollar strengthened.

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Coalition plans anti-cap-and-trade events in coming weeks

Tue, 18 Aug 2009 16:45:10 GMT

August 18,2009 --

A coalition of more than 100 organizations, including at least 15 oil and gas groups, plans to hold rallies in about 20 states to express concerns about proposed federal clean air legislation before Congress returns from its August recess.

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Murphy Oil makes management changes

Mon, 17 Aug 2009 21:35:10 GMT

August 17,2009 --

Murphy Oil Corp. made several management changes.

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Apache promotes three to executive vice-president

Mon, 17 Aug 2009 18:31:00 GMT

August 17,2009 --

Apache Corp. has promoted Jon Jeppesen, Anthony Lannie, and Kregg Olson to executive vice-president.

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MARKET WATCH: Crude futures price tumbles below $68/bbl

Mon, 17 Aug 2009 17:55:30 GMT

August 17,2009 --

The front-month crude contract dropped 4.4% to less than $68/bbl Aug. 14 on the New York market as consumer confidence declined and the US dollar strengthened.

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Egyptians protest sale of natural gas to Israel

Fri, 14 Aug 2009 18:00:20 GMT

August 14,2009 --

The Egyptian-Israeli consortium Egyptian Mediterranean Gas (EMG) has finalized terms of an agreement to supply natural gas to Israel’s Dorad Energy, revising an agreement initially struck in 2007.

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Delphi to buy Alberta properties, infrastructure

Fri, 14 Aug 2009 17:35:50 GMT

August 14,2009 --

Delphi Energy Corp., Calgary, announced earlier this month it will buy some natural gas properties in the Gold Creek and Wapiti areas of northwest Alberta for $11.8 million (Can.).

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MARKET WATCH: Crude price continues to climb

Fri, 14 Aug 2009 17:21:00 GMT

August 14,2009 --

The front-month futures contract for crude continued to climb Aug. 13 in the New York market after both France and Germany, Europe’s largest economies, both registered 0.3% gains in second-quarter gross domestic products.

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MARKET WATCH: Crude rebounds above $70/bbl

Thu, 13 Aug 2009 17:40:20 GMT

August 13,2009 --

The price of crude rebounded above $70/bbl Aug. 12 in the New York market as traders ignored a weekly government report of an inventory increase and focused instead on a weaker dollar and a rise in equity markets.

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Al-Labban to head Petro Rabigh

Thu, 13 Aug 2009 17:35:50 GMT

August 13,2009 --

Ziad S. Al-Labban has been elected as president and chief executive officer of Petro Rabigh, effective Aug. 1.

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MARKET WATCH: Oil, gas prices drop again

Wed, 12 Aug 2009 17:40:20 GMT

August 12,2009 --

Energy prices generally declined Aug. 11, with the front-month contract for benchmark US crude dipping below $70/bbl on the New York market for the first time in 7 days.

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Amaranth Advisors settles gas market manipulation charges

Wed, 12 Aug 2009 17:30:10 GMT

August 12,2009 --

Amaranth Advisors LLC will pay a $7.5 million civil fine to settle federal charges that it tried to manipulate natural gas markets, two federal regulatory agencies said on Aug. 12.

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US Treasury sends derivatives reform proposal to Congress

Wed, 12 Aug 2009 17:15:50 GMT

August 12,2009 --

The US Department of the Treasury sent legislative language to Congress on Aug. 11 that would institute regulation of all over-the-counter derivatives.

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IEA revises global oil demand forecast

Wed, 12 Aug 2009 16:41:00 GMT

August 12,2009 --

The International Energy Agency, in its August Oil Market Report, estimates that global oil demand will contract in 2009 by 2.3 million b/d vs. 2008 and average 83.9 million b/d.

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NEB: Injury rate on the rise for Canadian pipeline workers

Tue, 11 Aug 2009 21:45:10 GMT

August 11,2009 --

More Canadian pipeline workers got hurt on the job during 2007 than in any other year since 2000, when officials started reporting safety performance indicators, Canada’s National Energy Board reported Aug. 11.

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MARKET WATCH: Oil, gas prices slip lower

Tue, 11 Aug 2009 17:20:10 GMT

August 11,2009 --

Energy prices generally declined Aug. 10, with the front-month contract for benchmark US crude still above $70/bbl in the New York market.

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MARKET WATCH: Gas surplus, strong dollar cut energy prices

Mon, 10 Aug 2009 17:25:50 GMT

August 10,2009 --

Energy prices fell Aug. 7 with natural gas undercut by large supplies and oil prices pushed lower as the US dollar strengthened on reports of fewer-than-expected job losses in the US market.

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Iran dismisses US plans for gasoline ban

Mon, 10 Aug 2009 13:00:00 GMT

August 10,2009 --

The Iranian government, repeating earlier comments, has dismissed suggestions that the US Congress impose a gasoline embargo as a means of exerting pressure on the Middle Eastern country to end its controversial nuclear program.

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UK North Sea safety at highest level in 18 years

Sun, 09 Aug 2009 17:00:00 GMT

August 9,2009 --

Safety levels in the UK offshore oil and gas industry have substantially improved, according to data published by the Health and Safety Executive (HSE), with both the combined fatal and major injury rate and major hydrocarbon releases at their .......

MARKET WATCH: Gas futures price falls 7% in New York market

Fri, 07 Aug 2009 17:21:00 GMT

August 7,2009 --

The front-month natural gas contract in the New York market plummeted more than 7% Aug. 6 after the Energy Information Administration reported the injection of 66 bcf of gas into US underground storage in the week ended July 31.

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IFC launches web site on oil, gas activities

Fri, 07 Aug 2009 15:10:30 GMT

August 7,2009 --

The International Finance Corp. has launched an online web site focusing on the World Bank affiliate’s oil, gas, mining, and chemical financing activities.

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Ukraine to receive financial help for gas

Fri, 07 Aug 2009 14:55:10 GMT

August 7,2009 --

Ukraine will receive some of the financial help it has been seeking to pay for Russian natural gas under an international agreement that eases European fears about supplies transiting the country.

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Ex-Im Bank to finance subsalt development off Brazil

Thu, 06 Aug 2009 21:21:00 GMT

August 6,2009 --

Acting through the Export-Import bank, the US agreed to increase financial support by $8 billion to $10 billion for development of subsalt oil reserves off Brazil.

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Valve maker pleads guilty to bribery charges

Thu, 06 Aug 2009 20:36:00 GMT

August 6,2009 --

Control Components Inc., a valve manufacturer based in Rancho Santa Margarita, Calif., pleaded guilty to federal bribery charges and agreed to pay an $18.2 million criminal fine, the US Department of Justice said.

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FTC's rule prohibits oil market manipulation

Thu, 06 Aug 2009 20:25:50 GMT

August 6,2009 --

The Federal Trade Commission issued a final rule prohibiting oil marketplace manipulation, effective Nov. 4.

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MARKET WATCH: Gas price rebounds with GOM platform fire

Thu, 06 Aug 2009 17:40:30 GMT

August 6,2009 --

Crude and natural gas prices rebounded Aug. 5 in the New York market, wiping out losses of the previous session, with oil climbing in late trading to just short of $72/bbl as the US dollar fell against a group of six major currencies.

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Texas receiving grant to plug abandoned GOM wells

Thu, 06 Aug 2009 13:20:40 GMT

August 6,2009 --

The Texas General Land Office will receive a nearly $1.4 million grant to seal abandoned Gulf of Mexico oil and gas wells in state waters, US Interior Secretary Ken Salazar announced.

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ConocoPhillips asks to amend propane agreement

Wed, 05 Aug 2009 21:15:40 GMT

August 5,2009 --

ConocoPhillips Co. has petitioned the Federal Trade Commission for approval to amend its propane supply agreement with NGL Supply Inc., the FTC announced.

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USCF wants exemption if CFTC limits energy positions

Wed, 05 Aug 2009 21:05:10 GMT

August 5,2009 --

The chief investment officer of a group of exchange-traded funds (ETF) tracking oil and gas commodity prices urged the US Commodity Futures Trading Commission to look beyond aggregate positions if it decides to set limits on energy commodity ho.......

MARKET WATCH: Crude price slips in mixed trading

Wed, 05 Aug 2009 18:11:00 GMT

August 5,2009 --

The front-month crude contract slipped slightly Aug. 4 after failing to climb above $72/bbl in mixed trading on the New York market.

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RPSEA elects Holditch as chair

Wed, 05 Aug 2009 15:00:40 GMT

August 5,2009 --

The Research Partnership to Secure Energy for America elected Stephen Holditch, the head of the Harold Vance Department of Petroleum Engineering at Texas A&M University, as its new chair.

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Holloman appoints Prim as COO

Wed, 05 Aug 2009 14:40:20 GMT

August 5,2009 --

Holloman Energy Corp. appointed Eric Prim as chief operating officer.

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Sudanese oil revenues, tensions increase

Wed, 05 Aug 2009 14:21:00 GMT

August 5,2009 --

Sudan saw increased revenues from oil exports in June, benefiting from world market increases, but the country’s future prosperity may be in peril due to continued disagreement over the long-disputed Abyei region.

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Resolute Natural to merge with Hicks Acquisition

Wed, 05 Aug 2009 14:00:00 GMT

August 5,2009 --

Privately owned independent Resolute Natural Resources Co. plans to become a public company through a $582 million transaction with Hicks Acquisition Co., in which the resulting company will be Resolute Energy Corp.

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GAO considers refinery outage impact data gaps

Tue, 04 Aug 2009 22:30:40 GMT

August 4,2009 --

While most refinery outages have modest, if any, price impact, analysis of the relationship could be improved, the Governmental Accountability Office said in a July 30 report.

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MARKET WATCH: Crude hits 6-week high above $71/bbl

Tue, 04 Aug 2009 17:35:20 GMT

August 4,2009 --

Front-month crude jumped to a 6-week high, closing above $71/bbl Aug. 3 on the New York market as the US dollar fell to its lowest level this year against the euro amid a flurry of promising economic signs.

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Russians sign accords in Nicaragua, Venezuela

Tue, 04 Aug 2009 17:20:50 GMT

August 4,2009 --

The Nicaraguan government, following the lead of Venezuela, has signed an agreement allowing exploration by a Russian consortium.

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Japan Energy farms into Timor Sea block

Tue, 04 Aug 2009 16:25:50 GMT

August 4,2009 --

Japan Energy Corp. has farmed into Joint Petroleum Development Area Permit 06-103 between Timor Leste and Australia in the Timor Sea.

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USW withdraws from refinery safety talks with API

Tue, 04 Aug 2009 16:00:00 GMT

August 4,2009 --

The United Steelworkers (USW) has withdrawn from talks on refinery safety with the American Petroleum Institute and the oil industry.

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Oil companies criticize Nigeria's petroleum reform bill

Mon, 03 Aug 2009 20:40:20 GMT

August 3,2009 --

Nigeria’s Petroleum Industry Bill (PIB) will substantially increase taxation for operators and discourage investment, companies complained last month at a public forum in Abuja.

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MARKET WATCH: Energy prices continue rally as dollar weakens

Mon, 03 Aug 2009 18:31:00 GMT

August 3,2009 --

Energy prices continued to rally July 31 with crude climbing above $69/bbl in New York as the US gross domestic product fell less than expected and the dollar weakened against other key currencies.

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Helmerich & Payne settles bribery charges

Mon, 03 Aug 2009 17:45:40 GMT

August 3,2009 --

Helmerich & Payne Inc. agreed to pay $1 million to resolve federal charges that representatives of two of its Latin American units bribed government officials in Argentina and Venezuela, the US Department of Justice said on July 30.

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Peterson, Frank describe derivatives regulation concepts

Mon, 03 Aug 2009 17:30:20 GMT

August 3,2009 --

The chairmen of two US House committees with commodities regulation oversight released a concept paper on July 30 describing how they would like to regulate over-the-counter (OTC) derivatives.

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House GOP leaders urge end to OCS delay

Mon, 03 Aug 2009 16:55:10 GMT

August 3,2009 --

Ninety-eight US House Republicans urged Interior Sec. Ken Salazar to end a 6-month delay early and move ahead with a 2010-15 federal offshore oil and gas leasing plan he halted on Feb. 10.

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Credit weakening seen for US companies

Sat, 01 Aug 2009 18:50:10 GMT

August 1,2009 --

Fitch Ratings Ltd., Chicago, expects further credit-quality weakening for US oil and gas companies and service firms as low commodity prices continue to batter industry financial performance.

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Appeals court clarifies Alaska OCS decision

Fri, 31 Jul 2009 18:25:50 GMT

July 31,2009 --

Alaska state officials and environmental organizations each claimed victory following a federal appeals court’s July 28 clarification that its earlier order vacating the current federal offshore oil and gas leasing program applies only to.......

MARKET WATCH: Crude prices follow stock market up

Fri, 31 Jul 2009 16:51:00 GMT

July 31,2009 --

US crude oil futures prices rebounded July 30 as stock prices broadly moved higher on Wall Street. Separately, natural gas prices rose after the US Energy Information Administration reported a gain in underground inventories.

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Total appoints senior vice-president

Thu, 30 Jul 2009 21:55:40 GMT

July 30,2009 --

Total SA has appointed Patrice de Vivies as senior vice-president, Northern Europe, Total Exploration & Production.

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More work needed to realize gas hydrates' potential, House panel told

Thu, 30 Jul 2009 20:45:20 GMT

July 30,2009 --

Natural gas hydrates are a potentially significant energy source, but more work needs to be done to determine if they can be economically produced, three experts told a US House subcommittee on July 30.

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Approach Resources appoints vice-president

Thu, 30 Jul 2009 19:36:00 GMT

July 30,2009 --

Approach Resources Inc. appointed Qingming Yang as vice-president, exploration.

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MARKET WATCH: Crude oil futures dip upon growing US inventory

Thu, 30 Jul 2009 16:25:50 GMT

July 30,2009 --

US crude oil futures prices plummeted July 29 upon a government report of rising crude oil inventories.

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NARUC backs continued state regulation of hydraulic fracturing

Wed, 29 Jul 2009 20:15:40 GMT

July 29,2009 --

State utility regulators approved a resolution at their summer convention in Seattle urging Congress to leave regulation of hydraulic fracturing to the states.

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MARKET WATCH: Oil prices retreat amid drop in consumer confidence

Wed, 29 Jul 2009 17:50:40 GMT

July 29,2009 --

Crude oil prices retreated July 28—only the second time in the past 10 trading sessions—amid a lower-than-expected consumer confidence reading, reported analysts at Pritchard Capital Partners LLC in New Orleans.

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Cabot Oil & Gas appoints vice-presidents

Tue, 28 Jul 2009 21:50:30 GMT

July 28,2009 --

Cabot Oil & Gas Corp. appointed two new vice-presidents.

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Senators introduce OCS revenue-sharing bill

Tue, 28 Jul 2009 21:31:00 GMT

July 28,2009 --

US Sens. Mary L. Landrieu (D-La.) and Lisa Murkowski (R-Alas.) introduced legislation on July 27 that would guarantee coastal states a 37.5% share of federal revenue from new oil and gas production off their shores.

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Congress members urge CFTC to set energy position limits

Tue, 28 Jul 2009 21:10:40 GMT

July 28,2009 --

Two members of Congress urged the US Commodity Futures Trading Commission to establish and enforce position limits for all energy commodities as opening witnesses at the first of three CFTC hearings on the matter.

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Indonesian House wants lower cost-recovery write-offs

Tue, 28 Jul 2009 20:05:20 GMT

July 28,2009 --

Members of Indonesia’s House of Representatives, in a move to head off a potential budget shortfall, have urged the government’s upstream watchdog BPMigas to reduce the cost recovery given to oil and gas contractors.

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California assembly drops offshore oil plan from emergency budget

Tue, 28 Jul 2009 19:25:40 GMT

July 28,2009 --

California’s state assembly on July 24 passed an emergency budget package but deleted a bill that would have potentially authorized the first new oil and gas activity off the Santa Barbara coast in 40 years.

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MARKET WATCH: Positive indicators push up energy prices

Tue, 28 Jul 2009 17:05:10 GMT

July 28,2009 --

Energy prices climbed slightly July 27 despite a slow-down in the equity market rally that has helped lift crude prices in eight of the last nine trading sessions on the New York market.

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Speakers see changed, maybe relocated, US industry

Tue, 28 Jul 2009 17:00:30 GMT

July 28,2009 --

The US oil and gas industry will emerge from its doldrums structurally changed and perhaps relocated, according to a scenario that took shape at the RMI Oilfield Breakfast Forum in Houston July 28.

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CIG settles Clean Air Act charges at Utah compressor station

Tue, 28 Jul 2009 16:45:50 GMT

July 28,2009 --

Colorado Interstate Gas Co. (CIG) agreed to pay $1.02 million and install environmental controls to resolve charges that it violated the Clean Air Act at an eastern Utah compressor station, the US Department of Justice and the Environmental Pro.......

ICE agrees to be regulated after CFTC ruling on gas contract

Tue, 28 Jul 2009 15:25:30 GMT

July 28,2009 --

The InterContinental Exchange (ICE) agreed to be regulated after the US Commodity Futures Trading Commission (CFTC) effectively ruled that one of ICE’s natural gas contracts should no longer be exempt.

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MARKET WATCH: Upbeat economic outlook lifts energy prices

Mon, 27 Jul 2009 17:40:10 GMT

July 27,2009 --

Encouraged by a strong rally in the equity market, energy commodity prices continued climbing July 24, with the front-month crude contract closing above $68/bbl on the New York market.

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Rift shareholders approve Talisman takeover offer

Fri, 24 Jul 2009 22:30:40 GMT

July 24,2009 --

Shareholders of Rift Oil PLC of the UK have voted in favor of a takeover offer from Talisman Energy Inc. of Calgary that will bring Talisman the Puk Puk and Douglas gas discoveries onshore Papua New Guinea and the proposed offshore floating LNG.......

China, Petroecuador sign oil supply agreement

Fri, 24 Jul 2009 22:05:10 GMT

July 24,2009 --

Ecuador’s state-owned Petroecuador, eyeing an advance payment of $1 billion, has signed an agreement to sell 3 million bbl/month of oil to PetroChina International Co. Ltd. over a 2-year period.

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MARKET WATCH: Equity rally prods crude past $67/bbl

Fri, 24 Jul 2009 17:55:20 GMT

July 24,2009 --

The front-month crude contract shook off its loss from the previous session and climbed above $67/bbl July 23 in the New York market, led by a price increase for reformulated blend stock for oxygenate blending (RBOB) and a strong surge in the e.......

MARKET WATCH: Crude price drops, ending rally

Thu, 23 Jul 2009 17:25:20 GMT

July 23,2009 --

The September crude contract traded lower July 22 in its first session as the new front-month contract on the New York futures market, ending a five-session rally.

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US boosts use of renewables in energy consumption

Thu, 23 Jul 2009 15:35:10 GMT

July 23,2009 --

Americans used more solar, nuclear, biomass, and wind energy in 2008 than they did in 2007, according to energy flow charts released by the Lawrence Livermore National Laboratory (LLNL).

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Leonard joins Hyperdynamics as chief executive officer

Thu, 23 Jul 2009 15:30:40 GMT

July 23,2009 --

Hyperdynamics Corp., Houston, has appointed Ray Leonard as chief executive officer.

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MARKET WATCH: Optimistic outlook lifts energy prices

Wed, 22 Jul 2009 19:25:20 GMT

July 22,2009 --

Better-than-expected earnings reports across the equity market and other positive indicators of economic recovery raised crude prices July 21 for the sixth consecutive session of the New York market.

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Saskatchewan reports growing energy momentum

Wed, 22 Jul 2009 16:05:00 GMT

July 22,2009 --

Saskatchewan offers a wealth of oil and natural gas assets, and officials believe the province’s resource potential will continue to grow through anticipated technological innovations.

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California may consider offshore oil project to ease budget crisis

Wed, 22 Jul 2009 15:35:30 GMT

July 22,2009 --

California’s legislature might vote later this week to authorize the first new oil activity off Santa Barbara in 40 years as a way to help resolve the state’s budget crisis.

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Brazil interested in Russian oil, gas, nuclear expertise

Tue, 21 Jul 2009 18:05:50 GMT

July 21,2009 --

Brazil’s Deputy Foreign Minister Samuel Pinheiro Guimaraes, on a visit to Moscow, said his country is interested in using Russian technology to develop oil and gas fields as well as nuclear power.

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IHS: Global upstream M&A activity rebounded in 2Q

Tue, 21 Jul 2009 17:56:00 GMT

July 21,2009 --

Global upstream mergers and acquisitions (M&A) deals nearly doubled in the second quarter, up from a 10-year low in the first quarter, spurred by a resurgence in oil prices and a thaw in equity and credit markets, according to IHS Herold In.......

Local approaches may help US in oil-rich areas overseas, panel told

Tue, 21 Jul 2009 17:35:40 GMT

July 21,2009 --

The US government should be ready to engage local and state governments overseas in addition to national officials as it tries to secure foreign oil and gas supplies, a US senate committee was told on July 16.

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MARKET WATCH: Economy improvements push up crude price

Tue, 21 Jul 2009 16:40:20 GMT

July 21,2009 --

The price of crude climbed July 20 for the fourth consecutive session of the New York market, buoyed by a weak dollar and encouraging economic indications.

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Turkana shareholders approve Africa Oil acquistion

Tue, 21 Jul 2009 15:10:50 GMT

July 21,2009 --

Shareholders of Turkana Energy Inc., Vancouver, BC, have agreed to the takeover by Africa Oil Corp., also of Vancouver, along with Kenya’s energy ministry and the courts.

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Unauthorized troops withdrawing from Sudan oil region

Mon, 20 Jul 2009 22:16:00 GMT

July 20,2009 --

United Nations officials said unauthorized military units are being withdrawn from Sudan’s highly contested oil district of Abyei, ahead of a decision on its status by an international court due this week.

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Venezuela's PDVSA pays suppliers $2.7 billion

Mon, 20 Jul 2009 22:10:40 GMT

July 20,2009 --

Venezuela’s state-owned Petroleos de Venezuela SA (PDVSA), partly using the proceeds of a recently launched bond issue, said it has repaid most of its outstanding debts to suppliers.

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