GeoGlobal Resources Inc published that the Gujarat State Petroleum Corporation the operator of the exploration block KG-OSN-2001/3 (”KG Offshore Block”), has successfully tested 17 meters of perforations across the interval depth from 4,652 to 4, 672 meters total measured depth.
GSPC perforated DST-3 (Drill stem test - 3). During clean-up flow, the following stabilized gas/condensate rates [...]
ReoStar Energy Corp has just published the results of its operations for the Fiscal Year (FY) ended March 31, 2008. The Company’s previous fiscal year-end for 2007 reflects activity only for the three months ending March 31, 2007 due to the accounting treatment of the partnership interests merged into the Company. In certain instances, the [...]
Iraq invited bids from local and international companies for two new oil tankers and another for chemical products.
The country’s fleet of oil tankers was devastated by tit-for-tat shelling during the 1980-88 Iran-Iraq war and by attacks during the 1991 U.S.-led Gulf War.
Last year, Iraq signed a $65 million contract with China to buy three oil [...]
Saudi Arabia is reportedly considering raising its crude oil output to about 10 million barrels a day. The Middle East Economic Survey, a regional energy and finance newsletter, says that would mean increasing current output by about half a million barrels a day.
Although the Saudis have repeatedly insisted their massive oil reserves are not [...]
The West African nation of Niger signed a $5 billion deal with China’s state-owned oil company to tap the impoverished country’s oil reserves within three and a half years.
China National Petroleum Corp. pledged to invest in exploration, drilling, pipelines and a refinery.
Niger hopes to start extracting oil from the area before the end of 2011. [...]
Declining oil reserves and investment have forced Indonesia to quit the Organization of Petroleum Exporting Countries even as other members cash in on soaring global prices.
Indonesia is the region’s largest oil producer, but the nation of 235 million people has had to import for years because of aging wells and disappointing exploration efforts. A weak [...]
Venezuela’s proven crude oil reserves have increased by 30 percent, the country’s oil minister told a meeting of South American energy ministers.
Oil Minister Rafael Ramirez said Venezuela now has 130 billion barrels of proven oil reserves. After Canada’s massive reserves of harder-to-process oil sands, that is the biggest reserve outside the Middle East.
Ramirez said Venezuela [...]
Brazil wants to join the Organization of Petroleum Exporting Countries to help lower global oil prices, the country’s president was quoted as saying in a leading German magazine.
Brazilian President Luiz Inacio Lula da Silva said in the interview with Der Spiegel that his country plans to exploit its massive offshore oil reserves to make itself [...]
A shale formation stretching North Dakota and Montana may have an estimated 3 to 4.3 billion barrels of technically recoverable oil, according to a U.S. Geological Survey assessment.
Known as the Bakken Formation, the find would make the recoverable oil in North Dakota and Montana the largest U.S. oil reserves outside Alaska.
The recently released assessment shows [...]
The Iraqi Oil Ministry invited local and international companies to submit offers to supply the country with about two million tons of refined petroleum products in the second half of the year.
Iraq has the world’s third-largest known crude oil reserves with an estimated 115 billion barrels but suffers acute shortages of refined products such as [...]
