Flint Energy Services Ltd. announced that the Company has been awarded two contracts to provide fluid hauling and pressure and vacuum services to two major oil producers in Northeast Alberta valued at $125 million (Canadian dollars) over the next five years.
The first, a five year contract, worth an estimated C$15 million annually, is with an [...]
Allied Energy, Inc. provided the following report regarding its drilling, completion and production operations in Rogers County, Oklahoma for the following programs:
12-Well Program (USCBM)
The Begley #12-3 and Begley #12-4 wells are now in production with the Noble Brewer #12-1 and Noble Brewer #12-2 wells in the final stages of completion. Artificial lift systems are currently [...]
Aegean Marine Petroleum Network Inc. announced that it will be establishing business operations in Trinidad and Tobago, expanding its presence to the southern Caribbean. Aegean is in the process of setting up its local logistics infrastructure and expects to commence operations by the end-of-the first quarter, 2009.
E. Nikolas Tavlarios, President, commented, “We are pleased to [...]
Addax Petroleum Corporation announces that it has acquired a 33.33 per cent interest in the Sangaw North Production Sharing Contract. The Sangaw North license area is operated by Sterling Energy plc and is located approximately 80 kilometers southeast of the Corporation’s Taq Taq field.
Commenting today, Addax Petroleum’s President and Chief Executive Officer, Jean Claude Gandur, [...]
Avalon Oil & Gas, Inc., has reported its financial results for the fiscal year ending March 31, 2008. In the Form 10-KSB the Company has filed with the SEC, Avalon demonstrates the continuing success of its business plan with a five-fold increase in revenues over the prior year. Total revenues for the twelve months ending [...]
OPEC President Chakib Khelil again said oil producers saw no need to raise supply and blamed record oil prices on factors outside the cartel’s control, such as U.S. pressure on Iran and the weak U.S. dollar.
Following talks with European Union nations, Khelil said oil states believe they are pumping enough oil to satisfy demand and [...]
President Bush will send Energy Secretary Samuel Bodman to Saudi Arabia for a one-day meeting of oil producers.
Bodman will lead a U.S. delegation at the meeting on Sunday in the port city of Jiddah in Saudia Arabia, the world’s largest oil producer. The Saudis called the meeting of oil producing countries and consumers to discuss [...]
Treasury Secretary Henry Paulson asked Persian Gulf oil producers to open up to more foreign investment, saying it would help diversify their economies as well as boost output.
Paulson was in Abu Dhabi, the largest of the United Arab Emirates.
The UAE is Paulson’s last stop on a tour of Gulf nations.
He acknowledged that there are no [...]
Malaysian Estate Owners’ Association president Boon Weng Siew said the price control mechanism under the Cooking Oil Subsidy Scheme (COSS) was causing the industry to suffer.
Responding to Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad’s suggestion to review price control and subsidies, Boon said artificial price controls led to shortages in the market.
Cooking [...]
Asia faces the threat of higher inflation, slower growth and tougher times for exporters after oil prices hit new highs and the dollar plunged last week.
Farmers, miners and oil companies could benefit from high commodity prices. But most of Asia is dependent on imported energy and raw materials, and even some oil-exporting countries such as [...]
