Oil Market News provides oil investors with the latest up-to-date market news and trends on topics ranging from supply and demand, oil prices, regional events, and upcoming conferences.

SEC target Budd says he has no money

Monday, July 19, 2010

Stockwatch reports The U.S. Securities and Exchange Commission targets Jay Budd.
The SEC launched the case on Sept. 1, 2009, when it filed a civil complaint against Mr. Briner and Mr. Budd in the Southern District of New York. The complaint identified Mr. Budd as the president of Golden Apple and Mr. Briner as a legal [...]

Otway Basin and Gippsland Oil and Gas Exploration Locations Released

Monday, May 17, 2010

Brumby Labor Government has announced the new areas for oil and gas exploration in Victoria. Peter Batchelor confirmed that five onshore areas in the Gippsland Basin are now included as well as two onshore areas and one offshore area in the Otway Basin.
Energy and Resources Minister Peter Batchelor is quoted saying:
“We are committed to creating [...]

Premier Oil starting Vietnam, Indonesia production 2011

Thursday, April 22, 2010

UK oil and gas explorer Premier Oil PLC (PMO.L) is reported to start production at the 25,000 barrels per day (bpd) Chim Sao oilfield offshore Vietnam in July 2011.

GRNO Reports Morgan Stanley Forecasts 2010 Oil to Reach $95 per Barrel

Monday, March 15, 2010

Green Oasis Environmental Inc. (PINKSHEETS: GRNO) announced that Morgan Stanley has provided a 2010 West Texas Intermediate oil forecast of $95 per barrel by December 2010.

Xtreme Oil and Gas, Inc. Completes Form 10 Filing

Tuesday, February 16, 2010

Xtreme Oil and Gas, Inc. (PINKSHEETS: XTOG) reported the Company has filed the Form 10 with the Securities and Exchange Commission (SEC).

Magnum Hunter acquires Triad Energy

Tuesday, February 16, 2010

Magnum Hunter Resources Corporation (NYSE Amex: MHR) (NYSE Amex: MHR-PC) reported that the Company has closed on the previously announced acquisition of privately-held Triad Energy Corporation and affiliates, an Appalachian Basin focused energy company.

Nigeria plans to sell oilfield assets this year

Wednesday, February 3, 2010

The Financial Times reported on Tuesday that Nigeria plans to sell oilfield assets this year containing as much as 2 billion barrels of reserves either relinquished by Western firms or unsold in three previous bidding rounds.

Iran’s Azadegan oil field output at 40,000 bpd

Wednesday, February 3, 2010

On Wednesday, it was reported that the daily output at Iran’s Azadegan oil field has reached 40,000 barrels per day (bpd) and will soon hit 50,000 bpd.

Crude ends down 8 percent in Jan

Monday, February 1, 2010

On Friday, U.S. crude futures ended down, raking up the biggest monthly percentage loss since December 2008.

Vietnam oil reserves update

Tuesday, January 26, 2010

Vietnam’s current level of recoverable reserves of crude oil and gas are enough for another three decades of production.

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