President and CEO of Aramco, Mr. Abdallah S. Jum’ah said that the speculations are the major reason for fluctuation in the oil prices and it would take some time for the price stability. For full story, click here
Serica Energy plc announces its financial results for the three months ending 30 September 2008. For full story, click here
The current global credit crisis and an over 63 per cent fall in crude oil prices in the last four months have resulted in oil companies drilling fewer wells in offshore areas. For full story, click here
An export duty on oil of $192.1 per tonne will become effective in Russia from December 1, 2008. For full story, click here
Petrobank Energy and Resources on Friday shrugged off falling oil prices in a deal to license its patented fireflooding technology to True Energy Trust for heavy oil reservoirs in Saskatchewan. For full story, click here
Capgemini points out that the decline in oil prices is very bad news for future oil supplies. For full story, click here
Europe’s largest ever meeting of oil and gas industry flow metrologists recently took place at the International North Sea Flow Measurement Workshop in St Andrews. For full story, click here
Brazil’s Petrobras on Friday announced a new offshore discovery of as much as 2 billion barrels of light crude in ultra-deep deposits about a mile below the ocean floor. For full story, click here
Russian President Dmitry Medvedev will arrive in Venezuela for talks with U.S. critic President Hugo Chavez, designed to boost cooperation in the energy sector. For full story, click here
In a boost to ONGC Videsh’s bid to buyout Imperial Energy, Russia said it will not set any pre-condition like a stake for its state-run firms in exchange for giving approval to the acquisition. For full story, click here
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