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Giant Oil and Gas Company, Exxon Mobile Expect To Spend $129 billion on New Project Oil and Gas Exploration
The head of Exxon Mobil Corp. said Monday the company is not planning to shrink its staff or cut back on investment because of the global economic downturn.
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.
Mining Exploration Technology Exhibition, Industry experts attend workshop on ‘sour’ gas
SHELL has brought together national oil companies, major resource holders and academia from countries including Qatar, Oman, the United Arab Emirates, Saudi Arabia, Kuwait, Iran and Russia to share expertise on “sour” gas and carbonate reservoirs.
Australia’s Plans Natural Gas Exploration, Booming $15billion a Year LNG Export Industry
THE rapid multi-billion-dollar expansion of Australia’s second-biggest commodity export, liquefied natural gas, could stall if new investors are forced to comply with an emissions trading scheme from 2010.
The warning comes as major emitters continue to lobby for a regulated and cautious start to emissions trading in Australia, saying the credibility of the scheme could be [...]
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 [...]
Oil Market Slowdown, International Energy Agency Reported
The world oil market could be set for a lengthy slowdown, the International Energy Agency said on Wednesday, signalling a sharp shift in the climate that pushed the oil price to 100 dollars last month.
In light of weaker global economic prospects, the IEA cut its forecast for world demand for oil this year by 200,000 [...]
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 [...]
Crude Oil, Oil Price falls to $81
Oil fell near $81 a barrel on Monday as investors took profits from near-record highs of last week. But a weak dollar helped check losses sparked by worries of an economic slowdown in top consumer the United States.
U.S. crude lost 63 cents to $81.03 by 11:37 a.m. EDT, having sunk more than $1 to $80.59 [...]
Oil Rises Close to Five-Week High on OPEC, U.S. Supply Decline
Crude oil rose, nearing a five-week high, after an unexpected decline in U.S. crude supplies and on speculation that OPEC will resist calls to pump more oil.
Oil stockpiles dropped by 3.97 million barrels last week, the U.S. Energy Department reported yesterday, the eighth decline in nine weeks and almost twice as much as analysts had [...]
