NEW YORK, Dec 19 (Reuters) – Spending on exploration and production of oil and gas will drop 12 percent to $400 billion in 2009 as the sharp slide in energy prices, tight credit markets and reduced cash flow reverse six years of increased spending, analysts from Barclays Capital said on Friday.
The steepest decline will [...]
Scholarship for 2009 in the Offshore Oil and Gas Engineering
Career Opportunities in the Offshore Oil and Gas Engineering Profession”
Through the generosity of our industrial sponsors, the organizers of the Outreach for
Engineers Forum will be offering scholarships to cover registration costs, and help offset
travel and accommodation costs. The scholarships are open to students and young
engineers from [...]
Middle Eastern oil earnings rising commodity prices, Britain show riding high-on
Britain has been riding high on a trillion-dollar torrent of Middle Eastern oil earnings, but the falling price of energy could shrink the river of cash.
Oil powers such as Saudi Arabia, the United Arab Emirates and Russia have earned $5tn (£3.1tn) over seven years thanks [...]
NEW YORK (AP) – Consumers got another break at the gas pump Monday, as prices dropped further below $3 a gallon and approached year-ago levels even as the near-certainty of an OPEC production cut pushed oil prices marginally higher. Gasoline has fallen more than a dime a gallon since Friday, hitting a national average of [...]
Nido Petroleum and its Joint Venture partner Kairiki Energy have provided progress report on the Tindalo-1 exploration well located in Service Contract 54 (SC54), located in the NW Palawan Basin, offshore the Philippines.
While drilling through the Nido Formation reservoir section, oil shows were observed, (demonstrated by elevated mud log wet gas readings and strong oil [...]
By Bradley Brooks
ASSOCIATED PRESS
RIO DE JANEIRO, Brazil — Four miles under the ocean’s surface off Brazil’s lush coast lie billions of barrels of recently discovered light crude — a treasure that could transform the country into an oil superpower.
President Luiz Inacio Lula da Silva called it “a gift from God” and pledged to [...]
The Realities of America’s energy future
America’s Energy future finally made concerned with the energy crisis. This is the reality of the basic energy crisis in America :
1. United States must reduce import oil for energy independence.
2. Energy future drilling will probably make the problem worse because in the Bush Government that addicted the oil ignore [...]
Nido Petroleum Ltd (Nido) have announced that oil production has commenced from the Galoc oil field, offshore Palawan Island in the Philippines. Galoc will be brought into production shortly as planned and flow rates will be gradually increased over the coming days. Following this, an extensive well testing programme will be undertaken to fully assess [...]
Occidental Petroleum Corporation announced today the signing of a preliminary agreement with Abu Dhabi National Oil Company (ADNOC) to appraise and develop Jarn Yaphour and Ramhan oil and gas fields in the Emirate of Abu Dhabi. Oxy will operate both fields and hold a 100 percent interest in newly created concessions.
“We are pleased to have [...]
Crude oil is approaching important test of downside support in coming days that could determine if the market sinks to fresh lows for the year, technical charts say Monday.
Hemorrhaging more than 4% as traders remained unconvinced a U.S. financial sector bailout package signed into law Friday would be enough to shore up the global economy, [...]