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INN VIDEO: Keith Schaefer on High-risk Junior Oil and Gas Plays

At PDAC 2013, Keith Schaefer, editor and publisher of Oil & Gas Investments Bulletin, spoke with INN Editor Vivien Diniz about why junior oil and gas explorers are being pushed into frontier regions, why condensate is important and why oil prices are going to drop this year.

Company News

TransCanada Shares Fall Following Keystone XL Delay

The Financial Post reported today that oil prices in Canada are holding steady, although shares in TransCanada Corp. (TSX:TRP) fell after news that the U.S. would delay a decision regarding the company's Gulf Coast pipeline project. TransCanada share prices fell by 3.7% in Toronto on Monday, the biggest fall since summer 2009, according to the Post.

Simba Energy to Begin Airborne Survey on Block 2A in Kenya

Simba Energy Inc. (TSXV:SMB,FWB:GDA,OTCQX:SMBZF) has signed an agreement with Bell Geospace to conduct an airborne full-tensor gradiometry survey on Block 2A in Kenya. The survey is expected to start in early May and be completed within approximately one month.

Russia’s Rosneft To Move into the Arctic

The Moscow Times reported that Rosneft Oil Co. (OTCMKTS:RNFTF), Russia's largest oil company, will begin drilling for oil in the Arctic shelf this year. This follows earlier statements from Rosneft that it will be focusing its future exploration work on off-shore projects, according to the Times.

Glencore Xstrata buys Caracal for $1.35 billion

Bloomberg reported that Glencore Xstrata (LSE:GLEN) has purchased Caracal Energy Inc. (LSE:CRCL) for roughly $1.35 billion. Glencore hopes to gain oil and gas assets in central Africa, as Caracal is focused in Chad.

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Company Videos

INN Video: Chris Cooper of Aroway Energy Inc.

Aroway Energy (TSXV:ARW,OTCQX:ARWJF) President & CEO Chris Cooper spoke with Resource Investing News about its unique position in the oil and gas space.

Market News

Brent Crude Gains Tempered by Libyan Port Openings

Reuters reported today that U.S. Benchmark Brent crude oil prices increased to their highest on almost six weeks on expanding sanctions against Russia over issues in Ukraine. However, the price rise was halted with news of the first oil tanker being reloaded on Tuesday at Libya's Hariga port after a month long closure.

Oil Sands Producers Face Rising Natural Gas Costs

The Globe and Mail reported that oil sands companies that rely on natural gas to run their operations may face a price squeeze as natural gas costs rise. The companies use gas to create steam to soften oil-rich bitumen deposits.

Texas Crude Oil Inventories Swell

Bloomberg reported today that Houston and the US Gulf Coast now contain 202 million barrels of crude oil, according to Energy Information Administration data.

Oil Prices Climb Above $101 a Barrel on Ukraine Tensions

The Associated Press reported that benchmark U.S. crude oil for May delivery rose 90 cents to $101.34, while Brent crude came up 61 cents to $106.43 in London as investors continued to watch for weekly U.S. oil data.

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