Marathon Oil Corporation announced that it has entered into a definitive agreement with Centrica plc, the parent company of British Gas, under which Centrica will purchase Marathon’s non-operated interests in the Heimdal infrastructure, related producing fields and associated undeveloped acreage offshore Norway. The transaction, which has a total value of $416 million and an [...]
El Paso Corporation announced an expansion of the Colorado Interstate Gas Company (CIG) natural gas pipeline transmission system that serves the Raton Basin. CIG’s Raton Expansion will provide approximately 130 million cubic feet per day (MMcf/d) of incremental firm capacity from the Las Animas County, Colo., area of the growing Raton Basin northward along the [...]
ConocoPhillips says its global production fell as expected in the second quarter because of planned maintenance, but it benefited from higher oil and natural gas prices.
In an overview of market conditions for the April-June period, ConocoPhillips also said its worldwide refining margins in the second quarter probably improved from the first quarter. But the company [...]
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 [...]
Energy company, S.D.E., which has developed an innovative technology for generating sea wave electricity, has signed an agreement for selling sea wave power plants throughout China. Construction of the power plants will be financed by investors from Hong Kong and China.
Two joint venture companies, formed in Hong Kong by S.D.E and the investors for the [...]
Samson Oil & Gas Limited (AMEX:SSN)(ASX:SSN) has been advised by some of its shareholders that its previous announcement concerning the grant of a five-year option to an officer for the purchase of 2,000,000 ordinary shares at a price of A$0.25 per ordinary share (the “Option”) may have been misinterpreted by US investors on account of [...]
Saudi Arabia’s oil minister says OPEC’s dominant producer has no immediate plans to boost crude output because there is no need to do so.
But Minister Ali Naimi said he was “concerned about the (price) level” and suggested Saudi Arabia is ready to raise production if the kingdom perceives that basics had changed, with supply no [...]
Oil prices jumped past $145 a barrel for the first time, as traders added to their bets on the commodity ahead of the long holiday weekend.
There was little good news for Americans hitting the road for the July Fourth holiday, as gas prices set their own record near $4.10 a gallon.
Light, sweet crude for August [...]
Plains All American Pipeline, L.P. (NYSE:PAA) announced that a wholly owned subsidiary of Occidental Petroleum Corporation (“OXY”), has entered into definitive agreements to acquire an aggregate 10% equity interest in the general partner of PAA directly from the existing owners. Closing is expected to occur within the next 30 to 45 days and is subject [...]
GulfMark Offshore, Inc. today announced it has closed on the previously announced acquisition of Rigdon Marine. The combined company will initially operate 90 vessels with an additional 16 vessels under construction for delivery through 2010. Geographically diversified, the GulfMark fleet will operate 24 vessels in the U.S. Gulf of Mexico and bring the total Americas [...]
