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.
Oil Company News Directory
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.
The Globe and Mail reported that Kitimat, BC residents have voted against the Enbridge Inc. (TSX:ENB) Northern Gateway pipeline in a non-binding plebiscite.
CBM Asia Development Corp. (TSXV:TCF,OTCBB:CBMDF,FWB:IY2) announced commercialization plans for the Kutai West Production Sharing Contract development in Indonesia.
Deep Down, Inc. (OTCQX: DPDW) reported financial results for the full fiscal year 2013.
CBM Asia Development Corp. (TSXV:TCF,FWB:IY2) reiterated its focus on achieving commercial gas production this year and selling it into the high-priced Asian markets.
Mining Weekly reported yesterday that Canada's US Oil Sands Inc. (TSXV:USO) is using an environmentally friendly, citrus-based technology to design and build the United States' first commercial oil sands project.
Mining Weekly reported that Glencore Xstrata plc (LSE:GLEN) is interested in purchasing Nigerian oil assets being sold by Royal Dutch Shell plc (LSE:RDSA).
Kodiak Oil & Gas Corp. (NYSE:KOG) provided its financial results for the fourth quarter of 2013 and 2013 as a whole, commenting that during Q4, it oil and gas sales were valued at $266.5 million, a 104-percent increase from the year-ago period.
Mooncor Oil & Gas Corp. (TSXV:MOO) and Birch Lake Energy Inc. (TSXV:BLK) announced that they have entered into a non-binding letter of agreement under which Mooncor will acquire all the common shares of Birch Lake. The companies anticipate the acquisition being completed via a triangular amalgamation.