Eni SpA, Italy’s largest oil company, will invest $12 billion to boost its Egyptian natural gas operations over the next five years, Egypt’s oil ministry said Thursday.
Egypt, with proven gas reserves of 58.5 trillion cubic feet, or 1% of world stocks, is a key energy supplier to the Mediterranean rim countries and the Levant.
Eni also [...]

Silver Star Energy, Inc. reports on the completion and testing results from three Sawtooth formation gas wells at the MB Gas Project, located in the Manyberries area of Alberta, Canada. Silver Star and MB Gas Inc., based on the recently announced participation by the Company under the loan agreement, are currently working to tie [...]

EESV announced that the recent Integration Hearing before the Arkansas Oil & Gas Commission (”AOGC”) resulted in a favorable Order for EESV and its partners. As a result of the completion of this final administrative step required for drilling, EESV’s Fayetteville Shale investment is moving forward. Drilling in the Fayetteville Shale should commence on or [...]

Deloitte & Touche USA LLP (Deloitte) announced that Gary A. Adams, Deloitte Consulting LLP, has been named U.S. oil and gas leader for the organization’s Energy & Resources industry group.
In this role, Adams will be responsible for strategic oversight of the major investments Deloitte is making to continue to grow its robust oil and gas [...]

Private energy major Cairn India Ltd. said Thursday it made two new oil and gas discoveries in Rajasthan state.
The company also announced the extension of its exploration activities in Rajasthan for another six months. Sharing the details of the oil and gas discoveries, a company statement said it made the discoveries in Kameshwari west-2 [...]

Universal Energy Corp., following its business plan for the rapid expansion of its oil and gas business, has entered into a participation agreement for another significant oil and gas prospect in Southeastern Louisiana.
Known as Lake Campo, this 3-D prospect has proven but undeveloped reserves that are located in the prolific Middle Miocene Trend, which stretches [...]

Global Partners LP, a Waltham, Mass., company, has completed the acquisition of the refined petroleum products terminal at the Port of Albany formerly owned by ExxonMobile Oil Corp.
Global Partners, a wholesale distributor of gasoline and oil products paid $101.5 million for the terminal facilities at Albany, N.Y., Newburgh, and Burlington, Vt. The three terminals can [...]

Maxum Petroleum, Inc. has announced the acquisition of Petroleum Products, Inc. and two affiliated companies, Petroleum Transport, Inc., and Petroleum Fueling, Inc. Headquartered in Charleston, West Virginia, Petroleum Products was founded in 1938 and is the leading supplier of fuels, lubricants, and related value-added services to industrial and coal mining operations in the Central [...]

The president and chief executive of natural gas and oil explorer Ultra Petroleum Corp. exercised options for 25,000 shares of common stock, according to a Securities and Exchange Commission filing.
In a Form 4 filed with the SEC Wednesday, Michael D. Watford reported he exercised the options Monday for 46 cents apiece and then sold 15,726 [...]

Petrostar Petroleum Corporation announces the field testing of its Enhanced Oil Recovery Technology or as it is currently described as its Down Hole Heating Device commenced May 2, 2007.The initial test well A9/16 will continue for approximately 10-14 days at which time the tool will be removed from the test well and test data [...]