Aminex is now in its third decade as an oil exploration vehicle but finally there are signs that the long-promised uplift in its production profile may be about to happen. For full story, click here
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.
Americas Petrogas Inc. announced that the early production facilities required to initiate long term production testing from the three wells drilled by the Company in 2008 on the 106 sq. km. For full story, click here
Reliance Industries has resumed crude oil production from its predominantly gas-rich KG-D6 block after more than a month-long planned shutdown for connecting new wells. For full story, click here
Compton Petroleum Corp. announced that it has sharply cut capital spending for 2009 and revised its average daily production guidance downwards to between 20,500 and 21,500 oil-equivalent barrels per day. For full story, click here
Chinese main offshore crude oil firm CNOOC Ltd announced that it has commenced production from its Bozhong 28-2S oil field with 4,000 barrels of oil per day via four wells. For full story, click here
The Centre for Monitoring Indian Economy reported that crude oil output is likely to climb by 4.8 per cent touching 36.14 million tonnes in the next fiscal, riding on the back of oil production by Reliance Industries from its KG D6 wells coupled with capacity addition by other private and joint venture firms. For full [...]
Crude prices dipped in most international oil markets after OPEC decided not to change production levels in its Sunday meeting in Vienna. OPEC President, Jose Maria Botelho de Vasconcelos, said: We need to adhere and then in May we can look if other measures can be taken. For full story, click here
Reliance Industries announced that it has resumed crude oil production from its predominantly gas-rich KG-D6 block after a three-month shutdown, which was forced by an equipment failure. For full story, click here
Brazil’s crude oil major Petrobras, due to additional output from new production facilities, reported that it touched a company production record of 2,012,654 b/d on Mar. 4, surpassing by 12,420 b/d its previous high mark set on Dec. 25, 2007. For full story, click here
Get our independent commentary on oil trends and companies delivered to your inbox.
