Nido Petroleum Ltd (Nido) announce that oil production has commenced from the Galoc oil field, offshore Palawan Island in the Philippines. Oil production commenced on 9 October 2008. Oil is now flowing to the FPSO ‘Rubicon Intrepid’.
Ms. Joanne Williams, Nido’s Deputy Managing Director, said “We at Nido have been patiently working towards this day since [...]
The President of Creston, Mr. Brian R. Jones report, “At the end of 2nd quarter 2008, average daily field crude oil production was up from the 1st quarter average daily field crude oil production. This five percent increase in production along with the higher international crude oil price gave Creston Resources Ltd. an increase in [...]
Mountain Capital Inc., subject to regulatory approval, has signed an agreement to purchase a 100-per-cent interest in the Vermilion 15 Potash Property, located in east-central Alberta. The property consists of four metallic and industrial minerals permit applications that were recently awarded through private bid by the Department of Energy, Alberta. The Vermilion 15 Potash Property [...]
Fisher Coachworks LLC announced on July 22, 2008 its formal launch and plans to manufacture energy optimized lightweight hybrid vehicles using advanced materials and propulsion systems, as well as new manufacturing technologies. Fisher’s launch product will be a 40’ Transit Bus that is nominally half the weight and gets twice the fuel economy of current [...]
Sherwood Copper Corporation announced that the Government of Yukon, Department of Energy, Mines and Resources, has approved an amendment to its Quartz Mining License that permits an increase in the approved mining rate and mill throughput for its high grade Minto copper-gold mine located in the Yukon. This approval follows a designated office assessment under [...]
The Energy Department raised its outlook for the average price of a barrel of crude and a gallon of gasoline this year.
The Energy Information Administration’s Short-Term Energy Outlook now say oil will average $127 a barrel this year, up from the $122 a barrel forecast in last month’s report. The EIA expects gasoline to average [...]
The Energy Department and the Paris-based International Energy Agency both lowered their global oil consumption forecasts for this year amid surging prices, but said demand for oil and petroleum products is accelerating in parts of the developing world.
In its monthly short-term Energy outlook, the Energy Department’s Energy Information Administration said oil consumption is falling more [...]
Oil prices ended lower, giving up an earlier advance as the dollar held its gains against the euro and the Energy Department slashed its oil consumption projections. Retail gasoline prices rose to a new record over $4.04 a gallon.
Light, sweet crude for July delivery fell $3.04 to settle at $131.31 a barrel on the New [...]
Oil prices fell to the $122 level, after the Energy Department said fuel inventories rose more than expected, indicating slowing demand.
Light, sweet crude for July delivery fell $2.01 to settle at $122.30 barrel on the New York Mercantile Exchange. Earlier it dropped as low as $121.84. It was oil’s lowest settlement since May 6. July [...]
Oil prices fell sharply, even though the Energy Department reported unexpected declines in crude oil supplies last week. A stronger dollar and concerns about gas demand also weighed on prices.
Light, sweet crude for July delivery fell $4.41 to settle at $126.62 a barrel on the New York Mercantile Exchange, its lowest settlement in two weeks [...]
