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South Korea Interested to Invest Oil Exploration Project in Ghana
Ghana’s largest oil field, the Jubilee oil field has been up for grabs, and oil majors from across the world are falling over each other to grab it. And now it is the South Koreans.
Since Komos Energy put up their stake in the Jubilee field for sale, Ghana has been in the spotlight, as [...]
India Energy Explorer, ONGC Targets Crude Oil Production 27 million metric and Earning Profit $3.1 billion Next Year
Oil & Natural Gas Corp., India’s biggest energy explorer, is targeting earnings of 140.6 billion rupees ($3.1 billion) and crude oil production of 27 million metric tons in the year starting April 1.
State-owned ONGC has assumed a crude oil price of $53 a barrel, the company said in an e-mailed statement today after signing an [...]
ONGC and BHP Billiton Received Approval Oil Exploration Contract
India approved oil exploration contracts for Oil and Natural Gas Corp. (ONGC), the nation’s biggest energy explorer, and BHP Billiton Ltd as it sought to cut dependence on imports.
The South Asian nation approved the award of 33 blocks, home minister P. Chidambaram told reporters in New Delhi on Friday after a cabinet meeting. Two blocks [...]
Conference Board of Canada : Oil Extraction Industry Profits Increased to Reach $8 Billion
Higher prices and production will drive revenues to outpace costs, pushing pre-tax profits in Canada’s oil extraction industry to $8 billion this year, the Conference Board of Canada said Thursday.
But while this is a 66-per-cent increase from 2009 levels, the board noted in its latest industrial outlook that this level is well below the industry’s [...]
Bullion Monarch Mining Income Third Quarter Report : Revenues Increased 49 percent, Increase Volume from Newmont Mining Operation
Precious metals royalty and resource development company, Bullion Monarch Mining announced record quarterly revenue of US$1.5 million for the company’s third quarter ended January 31, 2010, up approximately 49% from the same period in 2009.
The jump in revenues was due to increased grades and volume at the Leeville underground gold mine in Nevada’s Carlin [...]
Oil and Gas Company Plans : Royal Dutch Shell to Boost Oil Production, Closes Petrol Stations and Cuts 2,000 Jobs
Royal Dutch Shell plans to exit 35pc of its petrol station markets, reduce refining capacity by 15pc, cut around 2,000 jobs by end of 2011, make cost saving of $1bn this year and sell non-core assets worth $1bn-$3bn a year.
“The company had become too complicated and slower to respond than we’d like. So we are [...]
Oil and Gas Company Financial Report : American Oil & Gas Plans Acquisition and Development Oil and Gas Properties
American Oil & Gas Inc. reports a net loss to common stockholders of $10.3 million (loss of $0.21 per share, basic and diluted) for the year ended December 31, 2009 (”2009″), as compared to a net loss to common stockholders of $24.2 million (loss of $0.51 per share, basic and diluted), for the fiscal year [...]
CONSOL Energy Acquires Dominion Resources Natural Gas Assets
CONSOL Energy CNX made headlines today by acquiring the natural gas assets of Dominion Resources D for about $3.475 billion. This deal makes sense from the perspective of both parties, as Dominion is primarily a stable utility, whereas CONSOL already has a sizable presence in Appalachian natural gas production. At first glance, we think the [...]
Royal Dutch Sheel Enter New Period of Growth Oil And Gas Production
Anglo-Dutch oil major Royal Dutch Shell PLC said Tuesday it was entering a new period of growth that would lead to significantly higher cashflows on the back of higher oil and gas output and reserves.
It also signaled expectations for oil prices to remain high.
Shell, which has some 11 billion barrels of oil equivalent of new [...]
