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 [...]
Delphi Energy Corp. (TSX:DEE) announced the company's crude oil and natural gas reserves information for the year ended December 31, 2009.
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
The global economic slump would not have any effect on the auction of oil and gas exploration blocks under ‘NELP-VIII’ launched on Thursday. For full story, click here
Oil prices vaulted 9 per cent in NY Thursday, in tandem with a powerful stocks rally, as investors cheered G20 agreements to combat the global downturn and an easing of US accounting rules. On Friday, oil prices settled above $52 a barrel, slightly lower on the day after a report that US unemployment in March soared to a 25-year high. But optimism that the economy will soon turn around curtailed losses.
The United States government statement that U.S. employers had slashed over a half million jobs in January, the highest yet in 35 years, lead to crude oil prices dropping just below $41 a barrel, way below the high of $147 a barrel last summer. There is a link between layoffs and the demand on oil, say analysts, as those laid off see no need for the daily commute, and buy less of petroleum products like toys and raincoats.
BP and Reliance Industries signed a production sharing contract for the block KG-DWN-2005/2 with the Indian government. For full story, click here
BP and Reliance Industries (RIL) on Monday signed a production sharing contract for the block KG-DWN-2005/2 with the Government of India. For full story, click here
ESSAR Exploration & Production (EEPL), a company of private sector conglomerate Essar group, has become the first Indian oil company to enter Australia For full story, click here
Turkey’s national oil company will explore for oil and natural gas with the American company in the Black Sea in the near future. For full story, click here
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