Husky sets $2.85 billion capital budget
Dec 22, 2005
Husky Energy Inc. has allocated $2.85 billion (Can.) for capital expenditures in 2006.
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Company News: ConocoPhillips to buy Burlington Resources
Dec 19, 2005
ConocoPhillips plans to acquire Burlington Resources Inc. for $35.
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OGJ Newsletter
Dec 19, 2005
Worldwide exploration and production expenditures are likely to rise “materially” in 2006, Lehman Bros. said in its annual E&P Spending Survey.
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Lawmakers: US should prepare for global oil flow peak
Dec 19, 2005
While there is disagreement about when world crude oil production will hit its peak, the US should begin preparing for it now, two US House members told an Energy and Commerce subcommittee hearing on Dec.
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DRILLING MARKET FOCUS: Albania continues to attract international operators
Dec 19, 2005
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CERA: Crude oil production capacity to grow 25% in 10 years
Dec 19, 2005
Not only is the world not running out of oil soon, but widespread development of unconventional resources will boost global crude production capacity by 25% in the next 10 years, a representative of Cambridge Energy Research Associates told a US House of Representatives subcommittee hearing.
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Canadian outfit reworks giant Albania heavy oil field
Dec 19, 2005
A unit of Bankers Petroleum Ltd., Calgary, is redeveloping giant Patos-Marinza heavy oil field in central Albania under an existing license between state Albpetrol ShA and the National Petroleum Agency of Albania.
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OMV group signs letter for Maari platform
Dec 16, 2005
A consortium led by OMV New Zealand Ltd. has signed a letter of intent with Clough Ltd. of Perth for a contract to build and install the Maari oil field wellhead platform in the Taranaki basin off New Zealand.
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Devon to add 410-420 million boe to reserves
Dec 15, 2005
Devon Energy Corp., Oklahoma City, expects additions to proved reserves this year of 410-420 million boe and total production from properties retained after divestitures of 216 million boe.
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Wentworth Energy buys Utah oil sands leases
Dec 15, 2005
Wentworth Energy Inc., Forth Worth, acquired 1,900 acres of oil sand leases in Utah's Asphalt Ridge oil sands region. The properties are 3.5 miles southwest of Vernal.
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ConocoPhillips to buy Burlington Resources
Dec 13, 2005
ConocoPhillips plans to acquire Burlington Resources Inc. for $35.6 billion in a transaction that would boost ConocoPhillips's rank as a US gas producer.
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World Bank funding up for small investors, renewables, gas
Dec 13, 2005
New figures in the World Bank's extractive industries portfolio show increased financing for small and local investors, renewable and natural gas industry lending, and transparency initiatives to reduce corruption, according to leaders of the multilateral lending institution's oil, gas, mining, and chemicals department.
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Nexen plans record capital spending in 2006
Dec 13, 2005
Nexen Inc. plans a record $2.9 billion (Can.) in capital projects in 2006 with 45% of it allocated for major development projects. The 2006 plan is $100 million more than the 2005 budget.
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CERA: Crude production capacity to grow 25% in 10 years
Dec 12, 2005
Not only is the world not running out of oil soon, but widespread development of unconventional resources will boost global crude production capacity by 25% in the next 10 years, a representative of Cambridge Energy Research Associates, an IHS company, told a US House of Representatives subcommittee hearing.
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Petrobras, PDVSA to build heavy-oil upgrader
Dec 12, 2005
Brazil's state-run Petroleo Brasileiro SA (Petrobras) and Venezuela's Petroleos de Venezuela SA plan to jointly build a heavy-oil upgrading plant in Venezuela that would cost about $1 billion, Petrobras announced.
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PetroWorld India |
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