Ritchie Bros. returns to Bakersfield to conduct large unreserved equipment auction

Ritchie Bros. is conducting the Company’s first public unreserved auction in Bakersfield, California in 16 years on March 27, 2009 starting at 8:00 a.m. The last multi-million dollar unreserved auction Ritchie Bros. held in Bakersfield was in 1993 when the Company sold over 450 items to more than 500 bidders. The upcoming unreserved auction on March 27th will provide local and international bidders... 

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Geovic Mining Appoints Conrad Houser as President of Geovic Energy

Geovic Mining Corp. announced the appointment of Conrad B. Houser to the position of Senior Vice President, as well as President of Geovic Energy Co., a wholly-owned subsidiary. Mr. Houser has more than 25 years experience in international mining activities, including project management, strategic planning, finance, administration, mine design, environmental permitting, compliance, and marketing. Additionally,... 

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ERF Wireless Forms New Division to Service Oil and Gas Industry

ERF Wireless, a leading provider of enterprise-class wireless broadband products and services, announced today that it has recently formed a new Oil & Gas Services Division to address growing customer demand in the oil and gas industry for the company’s wireless products and services. Utilizing the resources of its rapidly expanding wireless broadband networks in Texas, New Mexico and Louisiana,... 

US oil and gas rigs rises by 6

The number of rigs actively exploring for oil and natural gas in the United States rose by six this week to 1,928. A year ago, the rig count stood at 1,790. Of the major oil- and gas-producing states, Texas gained 14 rigs, Oklahoma added five and Alaska and California each gained one. Louisiana lost nine rigs, Colorado lost three, North Dakota and Arkansas each lost two and New Mexico lost one. Wyoming... 

Crude Drops Almost $5 a Barrel

Oil prices dropped sharply after China said it will raise fuel prices, a move that could dampen its booming oil consumption. Crude-oil prices also were given a downward push by the Iraqi Oil Ministry’s announcement that it is close to signing oil service deals with several major Western oil companies in an effort to boost crude output. Light, sweet crude for July delivery fell $4.75 to settle... 

Number of Working Rigs Down

The number of rigs actively exploring for oil and natural gas in the United States fell this week by 12 from last week. Of the 1,877 rigs running nationwide, 1,479 explore for natural gas and 390 for oil, according to Baker Hughes Inc., which tracks rig operations worldwide. Eight were listed as miscellaneous. A year ago, the rig count stood at 1,774. Of the major oil- and gas-producing states, Texas... 

Xstrata in talks to buy Macarthur Coal

Xstrata has jumped back into the global merger frenzy. It emerged yesterday that the miner is the mystery bidder that forced Macarthur Coal, Australia’s largest independent coal producer, to announce 10 days ago that it had been approached about a possible takeover. Macarthur and its top two shareholders, who it admitted had also been approached, have kept silent about the identity of its suitor... 

PetroChina Blames Government Controls for Profit Plunge

PetroChina Ltd. said first-quarter profit plunged 31.5 percent in large part because of government controls that bar it from passing on record crude-oil costs to consumers. China’s biggest oil company said profit was 28.8 billion yuan ($4.1 billion) for the three months ending March 31. PetroChina is the publicly traded arm of government-owned China National Petroleum Corp. Chinese producers... 

Oil Price hits new record $117 a barrel

Oil prices hit a record high $117 a barrel Friday as jitters over Nigerian oil supplies outweighed a rally in the dollar and fears of an economic slowdown in giant energy consumer China. U.S. light crude settled up $1.83 at $116.96 a barrel, before hitting a record $117. London Brent crude gained $1.49 to $113.92. Oil prices have more than quadrupled since 2002 as supply struggles to keep up with booming... 

The Biggest Oil Discovery in U.S. History

The Bakken oil formation, which stretches across North Dakota, Montana and southeastern Saskatchewan, is suddenly drawing worldwide attention. On Thursday, April 10, the U.S. Geological Survey (USGS) published an official study on the massive Bakken reserve. Among the agency’s findings: * Up to 4.3 billion barrels of oil could be recovered from the Bakken shale formation — a 25-fold increase... 

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