Retail gasoline prices in Texas remained steady from Sunday to Monday, increasing just less than 1/2 a penny from $3.522 to $3526. Nationally gas prices remained at $3.67 a gallon. There was no increase nationally from Sunday to Monday. Meanwhile, on international commodities markets, the price of light sweet crude oil, which is refined into [...]
Baker Hughes Inc. never stopped counting oil rigs in North Dakota, but in 1998 the company removed the state from its list of those with major drilling activity. The list is widely disseminated by the media.
Baker Hughes at the time cited a lack of drilling in North Dakota. The company does not have figures for [...]
The senior vice president of the Eastern region of Key Energy Services Inc., which provides oil drilling services, exercised options for 22,500 shares of common stock, according to a Securities and Exchange Commission filing.
In a Form 4 filed Thursday with the SEC, Phil Coyne reported he exercised the options Wednesday for $10.53 and $15.05 apiece [...]
Petronas Carigali Overseas Sdn Bhd, the state oil and gas company of Malaysia, withdrew its 80 percent participation from an exploration contract area in offshore Mindoro island.
PNOC Exploration Corp., a unit of state-owned Philippine National Oil Co., confirmed the decision of Petronas.
Petronas decided to transfer its entire interest in service contract 47 to PNOC [...]
Transocean Inc., the world’s largest offshore oil drilling contractor, named Steven L. Newman president and chief operating officer.
Newman replaces Jon A. Marshall, the former chief executive of GlobalSantaFe Corp., who had been in the post for only a few months following Transocean’s acquisition of its smaller rival late last year. Marshall announced plans to retire [...]
US oil giant Chevron on Monday rejected a court report holding it liable for 16.5 billion dollars in alleged environmental damage in Ecuador between 1964-1990, saying it owes the Ecuadoran government exactly “nothing.”
“What we’ll do is challenge it point by point … and insist that the report is absurd and illegal,” Chevron’s Ecuador representative Rodrigo [...]
Venezuela, which this week announced plans to nationalize 18 oil rigs operated by international companies, wants to establish a Latin American oil and gas drilling corporation.
Such a company would give Petroleos de Venezuela and other Central and South American oil companies an alternative to North American rig operators, seismic providers and service firms, Bernardo [...]
Oil and gas drilling in Western Canada is forecast to drop 18 per cent in 2007, pressured by lower commodity prices and slashed drilling budgets, an industry group said Thursday.
The number of natural gas wells drilled will fall for the first time since 1998, while crude oilwell drilling is expected to jump 11 per [...]
Houston - Accounting, tax and business advisory firm Grant Thornton LLP announced recently that, according to its 2007 Survey of Upstream U.S. Energy Companies, the top concern among energy executives is the uncertainty of natural gas and oil prices in the near future.
More than 80 companies (40 percent public and 60 percent private) responded to [...]
The Gulf Coast oil drilling expansion President Bush signed into law last year contained a strong environmental sweetener that helped push it through Congress.
Four lucky states - Louisiana, Alabama, Mississippi and Texas - were slated to get billions in potential royalties, and lawmakers said the money would help reverse damage from offshore industry, paying [...]
