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Random News from Mining Top News

Callon Petroleum issues guidance

Callon Petroleum Company has increased its guidance for the fourth quarter 2006 and issued production guidance for the first quarter and full year 2007. Also, the company released for 2007 its current hedging positions and capital expenditure plans.
Callon has increased production guidance for the fourth quarter of 2006 from the previously announced range of 51 [...]

Nine Korean oil workers abducted in Nigeria

Militants have kidnapped nine South Korean oil workers and one local worker in the Niger Delta region of southern Nigeria, bringing the total number of foreigners currently held hostage there to 18.
The latest attack came barely five days after the abduction of five Chinese telecoms workers and a month after the kidnapping of three Italians [...]

Constellation Energy Partners to to Present at 2008 San Francisco Money Show

Constellation Energy Partners told the press that the company has announced that it will be participating at the 2008 San Francisco Money Show at the San Francisco Marriott from Aug. 8 to Aug. 10, 2008. The management team will host a company information booth and participate in two presentations.
Who: [...]

BANGLADESH GOVT WITHDRAWS IMPORT DUTY ON EDIBLE OIL

Finance Adviser Dr Mirza Azizul Islam Sunday said the government has decided to withdraw customs duty on import of edible oil considering its soaring prices.
The National Board of Revenue would issue a circular in this regard within a day or two, he told reporters at a briefing at his Planning Ministry office.
NBR chairman Muhammed Abdul [...]

Oil prices spike near 106 dollars as US currency slides

Oil prices jumped close to 106 dollars on Friday as investor sentiment was driven by the weak US dollar, tight energy supplies and more bad news on the US economy, analysts said.
On Friday, New York’s main oil contract, light sweet crude for delivery in May, jumped 1.92 dollars to 105.75 dollars per barrel, after earlier [...]

Saxon Oil announces plans to drill Eumont No. 2 well in New Mexico

Saxon Oil Company Ltd. announced plans to drill the first offset to the Eumont State No. 1, which has now exceeded 50,000 barrels of cumulative oil sales since completion in May 2008. Eumont State No. 1 continues to flow 140 barrels of oil per day and is the discovery well for the Urssey Tank Seven [...]

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MRPL to sell petroleum products to Mauritius

New Delhi: State-owned Mangalore Refinery and Petrochemicals Ltd (MRPL) will supply 1.03 million metric tonnes of petroleum products to the State Trading Corporation (STC) of Mauritius during fiscal 2006-07, it was announced Friday.
A subsidiary of Oil and Natural Gas Corporation Ltd (ONGC), MRPL will commence supplies to Mauritius from August, an official statement said.
The [...]

Drop in Crude Supplies Catches Analysts by Surprise

Crude-oil inventories fell unexpectedly last week after four straight weeks of gains.
For the week ended May 16, crude-oil inventories dropped by 5.4 million barrels to 320.4 million barrels, which is 6.5 percent below year-ago levels, the Energy Department’s Energy Information Administration (EIA) said in its weekly report.
Analysts expected a gain of 900,000 barrels, according to [...]

Forum Uranium And Hathor Exploration Form 50/50 Joint Venture, Athabasca Basin, Saskatchewan

Vancouver, British Columbia – Forum Uranium Corp. and Hathor Exploration Ltd. are pleased to announce that they have entered into a joint venture in the Key Lake region which complements both Company’s current exploration initiatives in the area.
In a recent staking program, Forum acquired over 10,148 hectares of prospective ground along a 15 kilometre (km) [...]

UMMC liquidates Oryol Mining & Metallurgical Co.

The Urals Mining and Metallurgical Company (UMMC) said it has liquidated wholly owned
subsidiary Oryol Mining and Metallurgical Company, which was set up in
April 2005 to explore for noble metals and iron ore in Russia’s Oryol
region.
[...]