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China Oil Company, PetroChina Co. Reported First Time Drop Profit Since 2001
PetroChina Co., the world’s second- largest company by market value, posted its first drop in full- year profit since 2001 after refining losses widened fourfold and crude oil prices slumped.
Oil Exploration Company Agreement : Eni signs MoU with Qatar Petroleum
Eni has signed a Memorandum of Understanding with Qatar Petroleum International (QPI), a wholly owned subsidiary of Qatar Petroleum (QP), to seek joint investment opportunities in international projects in the exploration and production sector. The MoU was signed on behalf of QPI by Abdullah Bin Hamad Al-Attiyah, Qatar’s Deputy Premier and Minister of Energy and [...]
Pressure on oil companies grows to end gas flaring in Nigeria
For three minutes, on the day last May when Royal Dutch Shell released its first quarter earnings figures, a flame shot high into the air in front of the company’s head office in The Hague, scorching a human chain of about 40 protesters that circled it, a few meters away, to block police efforts to [...]
Italy to Host 20th World Energy Congress in November
International energy experts, industry representatives and government officials will gather in Rome in November to discuss ways to improve cooperation between energy importers and exporters.
Energy tensions rose in recent years when Europe saw its oil and gas supplies disrupted by disputes between Russia, a major energy exporter, and countries through which energy supplies pass on [...]
Utah, Colorado rival OPEC oil reserves, lure Chevron, Exxon, Shell
Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.
That’s not science fiction, according to Bloomberg News. Trapped in limestone up to 200 feet (61 meters) thick in the two Rocky Mountain states is enough so-called shale oil to [...]
OPEC does not have any plan to pump more oil, word of Libya, Qatar
OPEC, which supplies about two-fifths of the world’s oil, won’t heed calls from consumers to increase output for the summer driving season, officials from Libya and Qatar said.
“We are convinced that the market is not short of supply,” Qatari Energy Minister Abdullah Al-Attiyah told reporters in the Persian Gulf nation’s capital Doha today. Geopolitical risks [...]
RedChip Independent Issues Quarterly Update On Boots & Coots International Well Control Inc.
RedChip Independent, a division of RedChip Companies, Inc., announced today that it has issued a research update on Boots & Coots International Well Control Inc. (AMEX:WEL – News).
Lisa Springer, MBA, CFA, RedChip Senior Research Analyst, wrote in the report:
“During the year-end 2006 conference call, management indicated it anticipates sequential declines in revenues and income in [...]
Pertamina May Be Ready for Share Sale Next Year (Update1)
PT Pertamina, Indonesia’s state oil company, said it may be ready for an initial public offering by the end of 2008, aiming to be the biggest company on the Jakarta Stock Exchange with a market value of $30 billion.
The company hired McKinsey & Co. to improve corporate governance and tapped Schlumberger Ltd., the world’s [...]
Update5 : OPEC May Seek Higher Oil Price on Weaker Dollar
OPEC may seek higher oil prices because of the dollar’s decline against the euro, the pound and the yen, signaling growing support for a cut in crude production when members meet next week.
“Everyone is concerned” by the drop in the dollar, Qatari Oil Minister Abdullah Bin Hamad al-Attiyah told reporters today in Abu Dhabi, United [...]
