Royal Dutch Shell profit drops 62%

LONDON (MarketWatch) - Royal Dutch Shell said on Wednesday its first quarter profit slumped 62% as crude oil is the latest major company to disclose how far the bottom line is weakened because of the slump in energy prices.
Shell profit fell to 3.49 billion U.S. dollars from 9.08 billion dollars.
Stripping out 337 million dollars in one-time gains, as well as price changes on unsold inventories, Shell and earnings would be 2.96 billion dollars, compared with analyst estimates of 2.55 billion dollars. Analysts at Macquarie Securities, said earnings beat may come through the shell traders using crude contango in the market at the beginning of this year. Contango near term if the price of futures contract is worth less than oil for delivery in just a few months.

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Producers wary as Colorado's oil, gas rules become law

Colorado Gov. Bill Ritter Jr., said that new regulations for oil and gas industry will grow in a sustainable manner consistent with the state of the economy, as he signed them to the right on 22 April. Manufacturers remain concerned that the rules will simply create more delays and costs.
"These have been developed with valuable input from people across the country and unanimously adopted by the Colorado Oil & Gas Conservation Commission [COGCC]. One to find the right balance, a balance that recognizes the importance of a healthy industry and the importance of a healthy community, water and environment," the governor said.
"In 1999, Colorado issued 1,000 drilling permits. Last year, the state spent over 8000. The new rules recognize the modern increase in drilling activity, as well as technological changes that have taken place in the industry over the past ten years. The rules also incorporate forward practice already used by companies such as Encan, Williams Gunnison and energy, "he said.
The regulations in force on 1 May on federal lands and began to apply the IV 1 for all other land in the country.
Several producers in the country has no comment on the assignment. "We've made outside of the Colorado Oil & Gas Association [COGA] because we do work under the new rules. I can talk about a good half hour, if it is off-the-record" in a company official told OGJ on 27 April.
"Our main message concerned the business environment for oil and gas companies in Colorado. Of course, the economic slowdown, the state government has created an uncertain business environment, where it could be more convenient to Louisiana or Texas," said Nate Strauch, communications coordinator for COGA.

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Aztec Oil & Gas Announces Second Successful Natural Gas Well in New Drilling Partnership

Houston, 29 April 2009 (GLOBE Newswire) - Aztec Oil & Gas, Inc. (Pink Sheets: AZGS) announced today that its latest drilling partnership, Aztec VIII A Oil & Gas LP, has successfully participated in the second successful natural gas in Goliad County , Texas.
West Powell # 2 well was drilled to an approximate depth of 1,750 feet. Well encountered two Miocene gas sands, one at 1,655 feet (lower zone) and the other at 1,542 feet (upper zone). In the lower zone of sand is 33 feet thick and the upper zone of sand is 28 feet thick. In the lower zone will be produced first and the upper zone will be completed and produced at a lower zone of production is fully exhausted.
Currently, the lower zone of this well is estimated to be produced on the immobilisation of the intensity of some 200,000 cfgpd (cubic feet per day) in the Duke Energy system for the collection. The estimated reserves in this area, using the journal, and movement of 3D seismic survey should be between 320000000 and 530000000 cfg or 3 / 10 (thousand) to 1 / 2 BCF (billion cubic feet) of natural gas. Like all the wells, which are really the calculation of reserves, also will have to produce in a few months.
Based on the success of previously announced West Powell # 1 and West Powell # 2 well, Aztec Oil & Gas Resources and Resaca (operator Aztecs) spudded and identified two (2) and additional sites, which are direct analogues West Powell # 1 and # 2. It is anticipated that these potential wells will be drilled immediately.
"West Powell # 1 and # 2, and the confirmation of two additional seats analog appears to be a successful start for the Aztecs Partnership VIII. Although today are willing to focus on oil drilling, the drilling of oil and gas wells are evaluated by rigorous economic and not emotional ones. If the economics of partnership, we will drill for gas, as we did in this instance. Aztecs always focused on making the most money for its shareholders and investors in any partnership situation, "said Waylan R. Johnson, President of Aztec Oil & Gas , Inc.

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Crude Above $50/Bbl On Equities,Stockpiles Eyed

LONDON (Dow Jones) - Crude oil futures tracked firmer equity markets to trade back above 50 U.S. dollars per barrel Wednesday, despite expectations that the U.S. will reveal later in the stocks of oil continues to rise.
Concerns about the potential impact of swine influenza on the economy and the implications for oil demand also helped to drag down growth.
Trading volumes were thin as market participants decided to wait for the 1430 GMT release inventory data from the U.S. Energy Information Administration, which would highlight the weak demand for oil caused the U.S. oil inventories to balloon to nearly 19-year level. Traders were left by the careful separate American Petroleum Institute data revealing Tuesday crude stocks rose almost 5 million barrels last week.
"Despite the continuous stream of bearish news and information, oil markets remain surprisingly resilient," said David Hart, oil and gas analyst at Hanson Westhouse in London. "If there is a large building above the expectations of the U.S. government inventory data later today will be the resiliency further research.
In 1135 GMT, the front month June Brent contract on London ICE futures exchange was 77 cents to 50.76 U.S. dollars per barrel.
The front month June light, sweet, crude contract on the New York Mercantile Exchange was trading 92 cents higher at 50.84 U.S. dollars per barrel.
ICE in fuel oil supply contract in May was $ 9.00 per $ 428.75 per metric ton, while Nymex gasoline for May delivery was at 226 points of 142.03 cents a gallon.
According to Dow Jones Newswires survey of 12 analysts of U.S. stocks of crude oil will have risen between 1 million barrels and 3.5 million barrels last week. The outlook for stocks of gasoline is more diverse, a decrease of 200,000 barrels on average seen. Distillates are seen higher refinery 700,000 barrels in use is seen rising 0.1 percentage points to 83.5% of capacity.

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Indonesia Awards 11 New Oil, Gas Blocks To Investors

JAKARTA (Dow Jones) - Indonesia Wednesday issued 11 new oil and gas blocks to investors in order to increase its bid declining oil and gas output.
The Energy and Mineral Resources Ministry said that the South Sesulu block Hess (Indonesia Sesulu South), in Block Kumawa a consortium comprising Marathon Indonesia New Venture Ltd., Indonesia Kumawa Komodo Energy Ltd. and Energy LLC.
In the meantime, Cendrawasih block is a joint venture between Esso Exploration International Ltd. and Biaka Petroleum LLC.
Among the other successful bidders were Australia Worldwide Exploration Ltd. (AWE.AU), which won Terumbu block, and a joint venture between Niko Resources (NKO.T) and LLC Biaka crude oil, which got Kofiau block.
West Belida block was awarded to a consortium consisting Orchard Energy PTE SA and PT Bayu Energy Lestari, the Ministry said.
The blocks were among the 15 offered by the direct investors bidding. Only 11 blocks attracted bidders, said the Ministry of

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BP adjusts to 50 U.S. dollars as oil profits fall

LONDON (Reuters) - British oil major BP Plc (BP.L) said that learning to live with oil at $ 50 per barrel by cutting costs after the collapse of oil prices posted first quarter earnings and a higher level of rapid debt.
Europe is the second-largest oil company in the market value, said its replacement cost (RC) net profit, which strips out gains or losses related to the value of fuel inventories, fell 62 percent to 2.39 billion dollars in the first three months of the year .
"We must quickly to our costs to a level that is consistent with the $ 50 the world," Chief Executive Tony Hayward said in an e-mail to staff seen by Reuters.
However, profits fell less than analysts predicted, repeating the experience of U.S. oil major ConocoPhillips (COP.N) and in Italy, ENI (ENI.MI) last week and hopes to raise the sector adapt to the prices of crude oil to fall sharply.
"BP Q1 results reflect the sharper than expected decrease in unit production costs, combined with a strong oil market efficiency" Neill Morton, oil analyst at MF Global, said.
BP shares rose 1.4 percent to 490 pence at 0944 GMT, Bucking a 0.62 percent decline in DJ STOXX Oil and gas index. SXEP.
Production costs of crude oil and gas fell by 11 percent in the quarter compared to the same period in 2008, BP cut and a total of more than 1 billion U.S. dollars from the cost base in the previous year.
A spokesman said the trend will continue to shave her BP 2009 capital expenditure in the $ 20 billion, compared with $ 20 billion to 22 billion U.S. dollars in March, said BP expected to spend.

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Florida House approves oil drilling bill, but the Senate did not listen

Tallahassee - Gov. Charlie Crist and Senate leaders put the brakes on the account to open the door to oil drilling off the coast near the Florida coast Monday as well as won overwhelming approval in the fast-track vote in the House.
Moments after the House voted 70-43 - only two Democrats in support and only three against the Republicans - the Senate budget boss JD Alexander said the idea for reporters to keep this session. Senate President Jeff Atwater stressed that the message at the end of the day.
''I am not prepared for it,''said Atwater, R-North Palm Beach. `` This is really much important. It is very difficult to imagine that in the end game for this session.''
Crist said Monday he was zaniepokojony''spóźnienia on the side of godzinę''i''''bliskość plan to give the President and the Cabinet to adopt proposals by the drilling of oil and gas from three to 10 miles from Florida's beaches.
Senate rejection is a major disappointment for Rep. Dean Cannon, the Winter Park Republican appointed to the House speaker in 2010. He agreed to support the proposal on behalf of a group called the Florida Energy Associates, who spent months doing advance work in this case.

Members SECRET

The group refuses to identify its members say, except they contain the independent oil men of the oil and gas exploration in the waters of Florida.
Cannon unveiled the idea in the late session changes in the last week, but the group was working on the idea since December - developing and changing the language of hiring public relations firms to promote it, research and polling company to come with economist estimates.
The Chief Financial Officer Alex Sink and former U.S. Sen. Bob Graham came out in opposition to this plan, the Associated Industries of Florida bought television ad time on behalf of the group to promote it.

Cannon said Monday it is ready to give up.

''Five days a week 9 is a much longer period of time,''he said. `` Listen, people of any comments at the end of the week 9. I think that we will have to deal with it as they see fit.''
Environmentalists have been strongly critical of Cannon's position. ''This is an idea brought by a Texas oil companies, who want the right to drill in Florida and it is doing so on the cheap,''said Eric Draper, lobbyist for the Florida Audubon Society.
To avoid criticism, House leaders added a number of sweeteners: promising to use $ 25 million oil and gas revenue of solar energy rebates, $ 50 million to universities for research in the field of energy and education, 25 million dollars for the environment and 25 million dollars for oil and gas `` training academy.''
And to counter rumors that the Chinese were for the Florida Energy Associates, the Board adopted an amendment requiring that they must be established and refineries in the U.S.
House vote went down along the lines Reps. Michelle Rehwinkel-Vasilinda from Tallahassee and Debbie Boyd High Springs only Democrats to support it. Three Republicans opposed it: Bill Reps. Galvano of Bradenton, Ed Hooper of Clearwater and Jim Frishe of Belleair Bluffs.
Democrats raised SPECTER spills of oil, which in 1993 in a conflict between the oil freighter and two tugs means of barges in Tampa Bay that spilled more than 32,000 gallons of fuel, diesel fuel and gasoline and about 330,000 gallons of heavy fuel oil. Beaches were closed for a week and birds, sea turtles and shellfish beds have been injured. ''We are gambling with the environment. We are gambling with our tourism economy,''said Rep. Richard Steinberg, a Miami Beach Democrat.

OPPOSITION

Rep. Mark Pafford, D-West Palm Beach, said, `` Bill wipes the two decades of bipartisan opposition to oil drilling and move out of where we should go, and that is on renewable energy sources.''
Rep. Erik Fresen, a Miami Republican, urged his colleagues to support the measures because the revenue from the project provides for the application of oil and gas leasing and drilling would create thousands of jobs. ''It does not pose a threat to Florida,''Cannon said. `` They do not represent a threat to anything. Account, in fact, do not allow any drilling activity actually occurs. . . What account is not allowed to start the conversation.''

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Iraq Oil Bid Round puts Signature Bonuses To $ 2.6b

Amman (Dow Jones) - The Iraqi ministry of oil signature bonuses have increased significantly for international oil companies to 2.6 billion dollars to six oil and two gas fields in Iraq announced the first round, depending on the final bid document issued by the Ministry.
The Final Tender Protocol, or FTP, a copy of which was obtained by Dow Jones Newswires Tuesday, shows 200 million dollars for each of the Akkas and Mansouriya gas fields up to 500 million dollars in the super giant Rumaila oil field. While premiums for Kirkuk and the West Qurna Phase 1 oil field 400 million dollars each, and 300 million dollars for each of Zubair, Missan, and Bai Hassan oil fields.
The new amount represents a sharp increase from what the ministry announced earlier. A previous draft of the Protocol shall show that the companies will pay a signature bonus 10 million U.S. dollars of oil and gas output to 100,000 barrels per day or the equivalent, and 50 U.S. dollars per barrel for each additional barrel produced.
FTP and model contracts have been sent to the international oil companies on Thursday after the ministry has introduced some changes to the former, he said, including a note attached to the documents signed by the Director-General of the Ministry of Petroleum Contracts and Licensing Directorate, Natiq al-Bayati.

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Cabot Oil & Gas Provides Update Marcellus

Houston, April 28 / PRNewswire-FirstCall / - Cabot Oil & Gas Corporation (NYSE: COG - News) today announced another successful horizontal well, the current level of production in progress and the level and statistics of Pennsylvania Marcellus efforts, including plans to update the disclosure of East Texas .

Marcellus

Cabot recently completed horizontal, Heitzman # 1H, was completed in four stages of FRAC and flowed for sale in 24-hour test, the initial rate of 9.0 Mmcf per day. Currently, the line was five days, and has an average production of 8.8 Mmcf per day during this period.

"This is our best so far the initial rate and gives us further confirmation of the prolific nature of this area for the Marcellus," said Dan O. Dinges, Chairman, President and Chief Executive Officer. "In addition, the production of our first three horizontals reported still hold well."

The first horizontal well, Ely 6H (entered at 6.4 Mmcf per day) and 4.3 Mmcf per day is produced after 105 days on the line. The Black 1H (24-hour pre-sale rate of 8.8 Mmcf per day) had a 30-day average rate of 8.3 Mmcf per day and producing 8.0 Mmcf per day after 60 days on the line. The Black # 2H, after only four stages of FRAC, drawn up for sale in the initial rate of 8.3 Mmcf per day, the 30-day rate of 5.6 Mmcf per day and producing 4.1 Mmcf per day after 60 days.

"Today, these four horizontals collectively produce more than 25 Mmcf per day with our manufacturing capabilities for our current sale of approximately 34 Mmcf per day from these four horizontals and 13 vertical wells," said Dinges. "We continued to make progress on increasing our sales opportunities with the installation of additional compression and dehydration. Capacity is expected to increase to around 50 to 55 Mmcf per day in mid-May and to 85 to 90 Mmcf per day by the end of June, 2009." Cabot also successfully negotiated a second compressor site for additional capacity and will to build this site in the summer. Plans call first gas sales from this site in early 2010.

To date, Cabot has drilled 28 wells in Pennsylvania, eight of the laterals are horizontals stretching to 4000. "There are six platforms operating in Pennsylvania, drilling three horizontal and three vertical wells in the present. The three horizontal and three vertical wells waiting on completion, a horizontal well is currently flowing back.

East Texas

Cabot's East Texas program continues to adapt to the new activity around County Line. The company is committed to 475 million dollars for the year 2009, 47 percent of them are in the East Texas. The company recently presented its timetable includes drilling horizontal Haynesville Lime in Minden and Haynesville shale horizontal well in the County Line. "These wells will further delineate the shale and lime," commented Dinges. "The horizontal shale well is designed to be a successful test of the vertical Von Goetz # 3 well."

Cabot Oil & Gas Corporation, based in Houston, Texas is a leading producer of natural gas with substantial interests in the Gulf Coast, including Texas and Louisiana, the West, the Rocky Mountains and Mid-Continent, and in the East. For additional information, please visit the company's main www.cabotog.com.

Statements concerning future performance and financial results and other statements that are not historical facts contained in this release are forward-looking that involve risks and uncertainties, but not limited to, market factors, the market price (including regional basis of differences) of natural gas and oil, results of future drilling and marketing activity for future production and costs, as well as other factors detailed in the Company's Securities and Exchange Commission applications.

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Nexen in the running for Iraq oil and gas contracts

CALGARY - Canadian oil and gas Explorer Nexen Inc. is one of 32 international oil companies competing bids U.S. $ 2.6-billion to work in some of Iraq's largest oil and gas fields.
Nexen, only Canadian company in the group revealed by Reuters Monday, has qualified to participate in the first round of oil and gas contracts from the U.S. led invasion in 2003.
Iraq plans to give 20-year contract for the provision of services in order to increase the output of six oil fields to offer and to develop two gas fields in June.
"We had many successes in Yemen. ... Logic inform likely we will have the opportunity to success in a place like Iraq, as well," said Mike Harris, Nexen vice-president of investor relations. "But we must keep our options and go to the table and see what's going away."
The U.S. $ 2.6-billion, 16 times the number of the initial demand for a fee in the amount of approximately U.S. $ 164 million, leading to speculation that Iraq is looking for money to make up for falling export earnings due to the slide in oil prices and declining production. Income from oil accounted for around 90% of government revenue in 2006.
One oil executive said the higher premiums could squeeze out smaller signature from 32 oil companies that can not afford such payments.
Nexen is not yet discouraged Mr. Harris said.
"Since this is the offer, we will put in what we feel is a fair offer," he said. "But we are nowhere near that."
Nexen rose to one of the biggest Canadian oil companies with oil project Yemen. It is a combination of several of the largest companies in the world, including all the main oil - from BP PLC to Exxon Mobil Corp. - and some of the largest companies controlled by the state - from Russia, OAO Gazprom to China National Petroleum Corp, in search of a piece of Iraq's energy business .
Other companies, such as the Canadian Talisman Energy Inc. and Canadian Natural Resources Ltd. was also at one point, hoping for a piece of Iraq's oil wealth.
Iraq has the third-largest in the world, but largely untapped oil reserves. The country has nine super giant fields with more than five billion barrels of reserves and 22 giant fields with more than one billion barrels, according to data compiled by the U.S. Energy Information Administration.
However, the rehabilitation of the U.S. invasion has proved difficult due to security issues and is currently producing around 2.2 million barrels a day, well below its potential. Iraq wants to increase production of crude oil by 1.66 million b / d after the oil fields will be transferred to the new operating companies.
Nexen, which controls the Long Lake oil sands project and operations in the North Sea and the Gulf of Mexico, releasing its results today for the first quarter and hold its annual shareholders meeting.

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Oil and Gas Investor Magazine Announces Schedule of Live Webcasts of Key Executives and Financial Leaders at Winter NAPE 2009

Oil and Gas Investor announced today that its editorial team will broadcast live interviews of 30 or more oil and gas industry executives and financial leaders at OilandGasInvestor.com on Thursday, February 5, 2009 from the Winter NAPE Expo at the George R. Brown Convention Center in Houston, Texas.
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Fishing with Rachel and Charlie from Oil and Gas Investor Magazine

Rachel Cohen and Charlie Chase from Oil and Gas Investor magazine got a reel feel for our unique paradise in just a couple of days. They started with the flight over the Caicos Banks. Observing the crystal blue waters and endless reef
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Six States in Oil-and-Gas Zones Get $500 Million for Coast Fixes

Six coastal states will receive nearly $500 million from the US Interior Dept. to help them alleviate environmental impacts of oil-and-gas development, the agency said on April 20. Louisiana tops the list with $121 million
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Are Environmentalists and the Fossil Fuel Industry Calling a Truce?

What this also means is that the oil and gas industries are going to be partners in the effort to save the planet, for without them geologic storage of CO2 will not be possible. They are the only ones capable of managing the task at a
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Door opened for foreign investment in oil refinery

The US$1.5bil Nhon Hoi oil refinery is the first wholly-foreign own project of the oil and gas industry, with an annual capacity of 5mil tonnes per year. According to the Hong Kong investor, the feasibility research report will be done
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Research Report On Oil & Gas & Petrochemicals

We believe long-term investors should book profits at current valuations. We downgrade Oil & Natural Gas Corporation (ONGC), GAIL and Reliance Industries (RIL) to HOLD from Buy. We maintain BUY on Cairn India (Cairn), which is our top
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Battle Over Control of Iraq’s Natural Resources Heats Up

In April 2009, the secretary of Iraq’s Oil and Gas Committee in parliament, Jabir Khalifa Jabir said that the government’s deal with Royal Dutch Shell to exploit natural gas in the south was illegal. That same committee criticized the
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Qmena brings global software solutions to the Mena oil and gas industry

Quorum Mena Limited (Qmena), a recently launched oil and gas services company with headquarters in the United Arab Emirates, has today announced the signing of a strategic partnership agreement with WellPoint Systems Inc
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Creating Jobs with Investments in Clean Energy

80% of the 2001 energy bill, yes that bill drafted in secret from meetings between the former VP Dick Cheney and representatives from oil, gas, coal and nuclear energy industry, was spent giving tax breaks to those same industries
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Total Financial Losses, Tuition Costs, EPA Decree, Coming Oil Shortage and More!

“The economic slowdown has reduced demand for oil and natural gas,” notes Frank Holmes, a perennial favorite at our Investment Symposium in Vancouver, “but the supply-and-demand fundamentals are tightening, rather than loosening.
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President Obama Impresses on Earth Day

It’sa dangerous move; massive tax proposals financially dismantling the oil and gas industry in order to pay for investments in unproven alternatives. Nevermind the problems in the too-good-to-be-true logic of taxing one energy source
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Horn River basin key to energy sector’s future

Service companies have also been hit hard in the oil and gas sector where consolidation has been slower because of many companies being bogged down with now expensive debt. Todd Garman, oil field services analyst with investment bank
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Oil & gas industry seeks energy dependence, ignores peak oil, and opposes climate protection plans

These unprecedented taxes and fees would reduce investment in new energy supplies at a time when nearly two-thirds of Americans support developing our domestic oil and natural gas resources. That would mean less energy
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New Stock Purchase; A Calgary Expert Says Low Natural Gas Prices are Here to Stay

Peter Tertzakian is a well respected oil and gas analyst in Calgary. He has authored a couple books on oil and energy, and is chief energy economist at ARC Financial, a buy-side firm (institutional money manager).
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Crude Oil & Gas ETF Setting Up for Another Bull Run

As we discussed late yesterday, all of the action in the ProShares UltraLong Oil & Gas ETF (NYSE: DIG) off of the March 26 high at 25.49 looks like a consolidation-digestion area ahead of another run on the upside to complete an
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Op-Ed: Oil and Gas Stocks on the Edge of the Knife

Editor's Note: James Kostohryz was formerly the Head of International Investments for a major Brazilian Investment Bank.The fundamentals for crude oil have rarely been worse. Inventories are near all-time highs and as per today’s EIA
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Kuwait Energy Profile - Holds 8% Of World Oil Reserves

The Kuwaiti Parliament passed the “Foreign Direct Investment Act” in 2001, aimed at promoting foreign investment in Kuwait’s oil and gas sectors, which facilitated some development in Kuwait’s oil and gas sectors
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Frontier Signs LOI With RJ Oil & Gas

The objective of the joint venture is rehabilitation, exploitation, optimization and further development of certain oil and gas properties located in Callahan County, Texas, in the vicinity of Abilene. For an investment of $250000,
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ENERGY SECTOR NEEDS $10BILLION (LEAD STORY)

According to him, oil and gas alone would need about $ 5.5 billion. He said while the government would continue to inject funds into the sector when available, a major policy shift was to encourage energy sector institutions to raise a
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Obama calls for new era of energy exploration

With the same root in realism, Obama acknowledged the United States’ energy policy will not change instantly, given the country’s reliance on oil and natural gas. “But the bulk of our efforts must focus on unleashing a new, clean-energy
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Letters: Turkey is key for the EU's energy-hungry states

It can become the EU's most important energy gateway, lying close to 71 per cent of the world's proven gas and 73 per cent of its oil resources. It can help boost EU energy security as new non-Russian oil and gas fields are developed in
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Obama Pushes Renewable Energy, Climate Change Laws

Obama said the United States should increase domestic production of oil and natural gas in the short-term while emphasizing renewable energy such as wind power held the keys to the US energy future.
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Ponzi schemes lead this year's list of top five investment scams

Like many fraudulent schemes, oil and gas scams may also be unregistered securities sold by unlicensed individuals. Before investing, Director Zurz urges investors to call the Division’s Investor Protection Hotline at 1-800-788-1194 to
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New Dawn brings New Perspectives

The oil and gas industry has to adjust to a new order where global dept and liquidity markets have all but dried up, crude prices are almost $100 per barrel than last July’s record and gas prices have slumped by even greater percentage
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Developments, Trends & Strategies to Address Nationalization of Oil & Gas Interests

Key developments, trends, and strategies related to the nationalization of oil and gas enterprises was a featured discussion as part of the three-day Rocky Mountain Mineral Law Foundation International Institute meeting held in Buenos
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Signs of an Oil and Gas Investment Scam

due to the fall in the stock markets across the world, more and more people have started to invest in other avenues of investments, like forex and real estate. Oil and gas investment is such an alternative form of investment
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China plans to expand overseas exploration for oil, natural gas and minerals

“Chinese companies should actively and prudently tackle the crisis while seizing opportunities to invest abroad.” China’s outbound foreign direct investment may exceed inflows this year for the first time as the nation pushes its
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Stock Investment: Gain 500% Profit From the market

We've been to the heart of the oil sands industry, Fort McMurray in Alberta, Canada. I've been blown away by a wind park in Palm Springs, California. And I've seen first-hand the natural gas boom in the Barnett Shale. My investment
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Peak oil: The four stages of a new idea

The present paper reviews the reactions and the path of acceptance of the theory known as “peak oil”. The theory was proposed for the first time by M.K. Hubbert in the 1950s as a way to describe the production pattern of crude oil. According to Hubbert, the production curve is “bell shaped” and approximately symmetric. Hubbert's theory was verified with good approximation for the case of oil production in the United States that peaked in 1971, and is now being applied to the worldwide oil production. It is generally believed that the global peak of oil production (“peak oil”) will take place during the first decade of the 21st century, and some analysts believe that it has already occurred in 2005 or 2006. The theory and its consequences have unpleasant social and economical implications. The present paper is not aimed at assessing the peak date but offers a discussion on the factors that affect the acceptance and the diffusion of the concept of “peak oil” with experts and with the general public. The discussion is based on a subdivision of “four stages of acceptance”, loosely patterned after a sentence by Thomas Huxley.[Source]

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Modeling the Growth in Gas Reserves From Known Fields

The extent to which future United States demand for natural gas is satisfied by imports of LNG is contingent on the adequacy and cost competitiveness of North American supplies. One of the cheaper and more important sources of natural gas supply is accounted for by reserve appreciation, i.e., reserve growth, in known fields. Based on an extensively applied methodology developed by Arrington (1960), the increase in proved ultimate recovery is presumed to increase at a diminishing rate with the age of the field. In this paper, a single equation model of natural gas reserve growth in the Gulf of Mexico is developed and estimated. The results strongly suggest that the annual growth rate in the reserves of a field is significantly affected by initial discovery size, price, water depth, and unobserved field-specific effects. Hence, estimating oil and gas reserve growth using an Arrington based approach may underestimate the response of reserve growth to changes in economic fundamentals. [Source]

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The Impact of High Oil Prices on Global and Regional Natural Gas and LNG Markets

Oil prices are notoriously hard to predict, but they are an important input in many energy and economic models. This paper explores the effects of different oil price assumptions on natural gas markets (production, consumption, prices in different regions) in the International Natural Gas Model (INGM). Three cases from the INGM are presented: a reference case, a high oil price case and a second high oil price case, where gas-to-liquids (GTL) capacity additions are constrained. The results show that regardless of constraints on GTL capacity additions, higher oil prices lead to higher production and consumption of natural gas. However, when GTL capacity is allowed to expand, higher oil prices generally lead to higher natural gas prices and to less gas consumption in the electric power and industrial sectors as they switch to cheaper fuels and more natural gas is diverted to the production of GTLs. [Source]

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Understanding Crude Oil Prices

This paper examines the factors responsible for changes in crude oil prices. The paper reviews the statistical behavior of oil prices, relates this to the predictions of theory, and looks in detail at key features of petroleum demand and supply...Our overall conclusion is that the low price-elasticity of short-run demand and supply, the vulnerability of supplies to disruptions, and the peak in U.S. oil production account for the broad behavior of oil prices over 1970-1997. Although the traditional economic theory of exhaustible resources does not fit in an obvious way into this historical account, the profound change in demand coming from the newly industrialized countries and recognition of the finiteness of this resource offers a plausible explanation for more recent developments. In other words, the scarcity rent may have been negligible for previous generations but may now be becoming relevant...The $140/barrel price in the summer of 2008 and the $60/barrel in November of 2008 could not both be consistent with the same calculation of a scarcity rent warranted by long-term fundamentals. Notwithstanding, the algebra of compound growth suggests that if demand growth resumes in China and other countries at its previous rate, the date at which the scarcity rent will start to make an important contribution to the price, if not here already, cannot be far away.[Source]

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China looks for more oil

The growing share of imports in China's oil balance is a source of increasing concern to policy-makers in Peking. The government's response has been to try and secure as much crude oil as possible from foreign suppliers under long-term contract arrangements. To this end, it has concluded several deals: often on a government-to-government basis...Two of the latest deals have involved loans totalling $37 bn to Venezuela and Russia. The Venezuelan loan–amounting to $12 bn–is in return for a long term supply contract for up to 200,000 bpd of Venezuelan crude oil. Venezuela exported 129,000 bpd of crude to China in 2008. The Russian deal involves loans worth $25 bn made to an oil producer –Rosneft– and the national pipeline company –Transneft– in return for a 20-year deal to supply China with 300,000 bpd of oil from 2011. The oil is expected to come from eastern Sibe-ria. The arrangements involve the construction of a 40-mile spur line from the planned main export pipe-line from Eastern Siberia to the Pacific Ocean. The spur line will connect with a pipeline within China supplying the refining centre of Daqing, in the north-east of the country. The Chinese are reported to be discussing further large oil-related loan arrangements. The China Development Bank is thought to be willing to provide loans of up to $10 bn to the Brazilian state oil company, Petrobras, as part of a deal that could see the supply of 160,000 bpd of Brazilian crude to China.[Source]

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Firms shortlisted for Nigeria gas investment - AFP

Firms shortlisted for Nigeria gas investment AFP The list of potential investors, made available to AFP, includes Russia's Gazprom Oil and Gas, E.ON Ruhrgas AG of Germany, BG Group Limited and Centrica Energy, both of Britain
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Meet The Press - “Energy For Growth – Vision And Agenda” By Dr. Joe Oteng-Adjei, Hon. Minister For Energy

A key evaluation criterion that will be used to determine the performance of the oil and gas companies in Ghana will be the level of investment in the training of Ghanaians and also support to our institutions of higher learning.
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Why other countries kick our butt on clean energy: A primer

The 2001 energy bill gave 80 percent of its value to tax breaks for oil, gas, nuclear, and coal companies. The 2003 energy bill, drafted in secret with Vice President Dick Cheney and members of the oil, gas, coal, and electric
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Bureau of Land Management Recent Sale Oil and Gas Leases Hit $13.7 million in Montana and North Dakota

The Bureau of Land Management says its most recent sale of oil and gas leases in Montana and North Dakota totaled more than $13.7 million. BLM officials say CP Energy Inc., of Lafayette, La., and Slawson Exploration Co., of Wichita,
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Q1 Update: Economy Keeps Taking Toll on Oil and Gas Markets

But even though OPEC has cut supply, US tanks and containers remains awash in oil. "The main US market is receiving more crude oil, not less, than last year,” Olivier Jakob at Petromatrix, Zug, Switzerland, told The Oil and Gas Journal
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Sharia Compliant Investments Providing Consistent Annual Double Digit Returns for 10 - 20 - 30 Year in Extremely Low Risk Investments

Cabal Capital Management, LLC announces the launch of the Legacy Fund which provides special alternative investment opportunities into extremely low risk, and very high financial return Advanced High Income Generation Projects
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Adam Sieminski to speak on global oil and gas outlook

The title of his talk is, “Global Oil and Gas Outlook .” MEETING DETAILS Date: Tuesday, April 21, 2009 Time: 11:30 AM – 01:45 PM. Venue: Toscana Grill Address: 2300 Clarendon Blvd #1 Arlington, VA 22201 (Courthouse Metro Station)
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Nunavut - 10 Years of Progress

Minister Taptuna’s background includes 10 years in oil and gas drilling in the Beaufort Sea and hands on work at the Lupin Mine. David Coffin is the “geology side” of HRA with his brother Eric providing the financial analysis.
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Flower Mound Oil & Gas Ordinance Threatened by Texas State House Bills

It is regarding 3 House Bills that could threaten our Oil & Gas Ordinance. Whether you have signed a gas lease or not, this will impact all Flower Mound Residents. Please show up to the Town Council Meeting this Monday, April 20
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Dow tumbles 290 points on bank worries; Kodiak Oil & Gas leads Colorado gainers

Investor worries about continued tight credit and bad bank loans helped the Dow take a tumble Monday, erasing more than a week’s worth of gains. In Colorado, Kodiak Oil & Gas Corp. led a handful of actively traded gainers.
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OriginOil Announces Breakthrough Process to Extract Oil from Algae

OriginOil, Inc. is developing a breakthrough technology that will transform algae, the most promising source of renewable oil, into a true competitor to petroleum. Much of the world’s oil and gas is made up of ancient algae deposits.
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Iraqi oil minister stands by Shell gas deal

Iraq's oil minister defended on Monday a multi-billion dollar natural gas deal signed with Royal Dutch Shell (RDSa.L) last year as lawmakers vow to revoke an agreement they say will be costly for Iraq. Hussain al-Shahristani, speaking on the sidelines of a conference in Baghdad, said contrary to statements from members of parliament's oil and gas committee, the initial agreement would not allow Shell to set the price for gas sold within Iraq's domestic market. Some parliamentarians have complained the government of Prime Minister Nuri al-Maliki, in addition to running afoul of Iraqi law by failing to get parliamentary approval for the deal, allowed Shell to set unfavourable terms for Iraq.
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Briefs week of April 20, 2009

Natural gas makes up two-thirds of all activity in the oil patch and production has fallen almost 15 per cent over the past two years, taking the biggest contributor to the government’s revenue stream down with it.
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Iraq Parliament Promises to Push Shell Out of Gas Deal

The warning from Jabir Khalifa Jabir, secretary of the Iraqi parliament's oil and gas committee, was seen by financial analysts as a serious threat to western investment opportunities in a country that holds the second-largest oil
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Canacol Energy declared $9 Million Capital Investment

Canacol Energy Ltd. declared that it has executed a series of agreements with Gemini Oil and Gas Fund II, LP, the Jersey based oil and gas investment fund, whereby Gemini will, subject to certain preconditions, invest up to US$ 9
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Manufacturing strategy? What manufacturing strategy

The shift from metal to composite materials will provide vast commercial opportunities and will have important applications in the automotive, marine, aerospace, wind and wave, construction, oil and gas, and medical equipment sectors
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West's access to Iraqi oil in doubt

The warning from the secretary of the Iraqi parliament's oil and gas committee, Jabir Khalifa Jabir, was seen by financial analysts yesterday as a serious threat to Western investment opportunities in a country that holds the
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Oil And Gas Company Live Webcast Presentations

The Independent Petroleum Association of America (IPAA) is holding its Oil & Gas Investment Symposium New York (OGIS New York) this week, from April 20 through 22, at the Sheraton NY Hotel and Towers in
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The British Development Group is Discussing the Investment in Iraq

The Prime Minister Nuri al-Maliki stated that a delegation from the Russian Lukoil Company will visit Baghdad soon to sign contracts for developing oil fields, while the British development group is reviewing investment locations in
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Investment opportunities in Yemen in oil and gas

SANAA Minister of oil meets GOGAS company delegation Minister of Oil and Minerals Amir Al-Aydarus reviewed on Wednesday the available investment opportunities in Yemen in oil and gas with Hamdi Atta, director of the UAE oil and gas
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Whiting Petroleum Corporation to Present at IPAA Oil and Gas Investment Symposium

Whiting Petroleum Corporation today announced that it will present at the IPAA Oil and Gas Investment Symposium at the Sheraton New York Hotel&Towers in.
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Ministry of Petroleum of Iran

However, the threat of American retaliation kept the investment way below the desired levels. It only allowed Iran to continue to keep its oil export at its OPEC determined quota level. In 2006, China signed oil and gas contracts worth
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Jeffrey Christian – CPM Group – On Commodities

CPM is a leading commodities research, consulting, investment banking and asset management company. It provides independent market leading research on the commodities markets to customers ranging from governments to investment funds
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Supply and demand cannot explain 2008 gas price rise: US FERC

17 Apr 2009 by B
understand and explain the record run-up in oil and gas prices last year, the precipitous decline since, and the impact on future infrastructure development and market investment. Plummeting gas prices are hitting the industry hard
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Investment during the recession

13 Apr 2009 by Tom Whipple

Investment in oil and gas production continues to slip everywhere, unless ExxonMobil or China is involved. The CEO of ConocoPhillips discussed nearly $2 billion in investment cuts that his company plans to make. Drilling in the US
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Want to make monney, Invest on oil?

18 April 2009 by whitney

The number of rigs actively exploring for oil and natural gas in the US dropped by 30 this week to 975, Baker Hughes said. A planned expansion of oil and gas drilling off the Alaska coast also was canceled Friday by a federal appeals.
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BUSINESS IN BRIEF 18/4

17 Apr 2009 by admin

PetroVietnam was among 18 enterprises from Asia, Europe, America and Australia , which signed investment contracts worth US$650 million with PeruPetro. Despite its huge potential for oil and gas, Peru still has to import petroleum.
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Gran Tierra Energy to present at the IPAA Oil & Gas Investment Symposia in New York on April 21st, 2009

17 Apr 2009

(NYSE Amex: GTE, TSX: GTE), a company focused on oil exploration and production in South America, today announced that Dana Coffield, the company's President and Chief Executive Officer, will be.
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Commodities - The Best Asset Class For Long Term Investment

17 Apr 2009 by Faisal Humayun

Long term investors globally are looking out for exciting investment opportunities in this current downturn which had lead to all asset classes falling substantially from their highs. While many asset classes will give superior returns
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EV Energy Partners to Present at IPAA Oil & Gas Investment Symposium

17 Apr 2009

EV Energy Partners, LP today announced that Mr. John Walker, Chairman&CEO, and Mr. Michael Mercer, Senior Vice President and CFO, will be presenting at the IPAA 2009 Oil & Gas Investment Symposium.
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Government of Canada investment solidifies CO2 enhanced oil recovery project

18 April 2009 by Oil & Gas Product News

Employing fusion power means a smaller carbon footprint in harvesting the oil sands and a leadership position for Alberta in launching a revolution in the production of fusion energy. Alberta Energy.
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Petronas keen to invest in Oman's energy sector

18 April 2009

Malaysia-based oil and gas giant Petronas is keen to explore investment opportunities in Oman's energy sector, according to a highly placed company official.
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Chief Geophysicist for Large International Exploration Firm

13 Apr 2009

One of the key players in Global Oil and Gas exploration is looking for a Chief Geophysicist to oversee a large team in one of their key projects within UAE. You will be managing a team of 15 specialists, aiming for 1000 Fold Resolution
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Oil & Gas Trends and News

14 Apr 2009 by toddessary

The firm provides exclusive, customized research and analysis solutions directly for public companies, activist investors and investment banks. A special arrangement between Investrend Communications and SISM provides for preferred ...
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Drumbeat: April 17, 2009

18 April by admin
This is attributed to surprisingly firm discipline among OPEC suppliers facing their own problems of economic recession and falling investment, not only in the oil and gas sector. When as likely by June-July prices bounce back above the
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Govt defers NELP-VIII on tax break concerns

17 Apr 2009 by Agency

Of the total committed investment of USD 8.33 billion received in the first six rounds of NELP, USD 3.887 billion had already been spent by oil and gas companies till March 2007. Of the USD 8.33 billion promised investment,
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Campbell courts oil and gas sector - Canada.com

18 April 2009 by Viraj

A new tax proposed by the New Democratic Party for oil and gas producers will stifle future investment in BC, Premier Gordon Campbell said Thursday. "The investments [oil and gas companies] are looking at in the future are going to
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Drumbeat: April 18, 2009

18 April 2009 by Leanan

The US and other economies may soon face vicious energy price spikes if governments pursue policy barriers to oil, coal and natural gas investment, the former chief executive of the world's largest oil company warned Thursday.
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Ways to Invest in Oil and Gas

8 Apr 2009 by Terry Stanfield

If you are interested in oil and gas investing there are three primary ways you can go about starting your investment. These ways include investing in companies, mutual funds, and commodities. You can make a lot of money in this
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China, Kazakhstan sign US$5 billion loans for oil deal (China-Kazakhstan-Oil)

17 Apr 2009

Also in February, Venezuela and China agreed to add $6 billion to an investment fund to finance joint development projects. Venezuelan President Hugo Chavez said it would be used partly to finance projects to increase oil exports to
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US Venture Investing Down 50% Year/Year

18 April 2009 by Ian R. Campbell

Click here for Economic, Mining and Oil & Gas Stock Research. See Blog Legal Disclaimer. Timely Research on more than 1600 Canadian Mining and Oil & Gas companies. Free subscription, click here! Email this Post to a Friend.
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Bloomberg: Oil My Slingshot Up After Credit Freezes Rigs

11 Apr 2009 by TraderMark

The credit crunch will keep US oil and gas producers from ramping up exploration they do through drillers such as Nabors Industries Ltd., setting the stage for shortages and surging prices when demand recovers.
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ESRBob's Rational Investing Portfolio & ETFs

17 Apr 2009 by cvc8445

Oil and Gas (OIL) 3.0% VGENX Commercial Real Estate (REIT) 5.0% VGSIX The portfolio size is "large". I expect a larger upfront lump-sum investment into the various ETFs (rather than monthly investments)and the need to generate income ...
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Cash-rich China courts the Caspian

18 April 2009 by saigoncharlie@gmail.com (Saigon Charlie)

It received $21 billion in exploration and production investment in 2007 before the financial crisis erupted. Curiously, China is stepping into the purchase of MMG, outbidding Russia's Gazprom and India's ONGC (Oil and Natural Gas ...
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Canacol Energy Ltd. Announces US$ 9 Million Capital Investment by Gemini Oil and Gas Fund II, L.P. Into 2009 Colombian Development Program and Remedy

17 Apr 2009 by admin

(”Canacol” or the “Corporation”) (TSX VENTURE:CNE) is pleased to announce that it has executed a series of agreements with Gemini Oil and Gas Fund II, LP (”Gemini”), the Jersey based oil and gas investment fund, whereby Gemini will, ...
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US oil and gas investment during the recession

US oil and gas investment in production continues to slip everywhere, unless China is involved, or ExxonMobil. ConocoPhillips Chairman discussed almost 2 billion U.S. dollars for investment pieces, that his company plans to introduce. Drilling in the U.S. fell in addition to the Baker-Hughes reporting that the U.S. rig count is another 38 to 1,005 last week, up more than 50% since mid-September. Low prices for natural gas and non-availability of credit to cut drilling capital budget by 17 percent this year. Total SA may delay a 230,000 b / d oil sands project. In Qatar, natural gas, refinery and petro-chemical plant projects have been suspended. New market for floating production systems dried with no new orders will be placed in the last quarter, the first such event since 1996. In Russia, Rosneft CEO said that the deficiencies in terms of investment and high taxes, can lead to a significant reduction in oil production over the next five years.
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U.S. crude oil and natural gas drilling continues to drop

Energy companies slammed on the brakes in the U.S. in the first three months of 2009, a minimum of drilling wells since 2004. This is in accordance with the American Petroleum Institute, which is in the morning with its quarterly report on U.S. drilling activity. According to the API completed 11,071 U.S. producers of oil and gas wells in the first quarter of 2009, down from 22% one year ago and down 35% from the fourth quarter of 2008.
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SMT's KINGDOM supports Windows Vista and 64-bit computers

KINGDOM software supplied by SMT (Seismic Micro-Technology), a provider of Windows geoscientific interpretation software, the oil and gas industry, supports clients on Microsoft's Windows Vista operating system. According to SMT, in some internal benchmarks, performance proved to be three times faster when you run Windows Vista and 64-bit systems. SMT support Windows Vista and 64-bit computers is part of ongoing efforts to ensure that customers have access to the most flexible and secure platform for their geoscientific computer workplace.
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Gasoline prices in Massachusetts

Gasoline prices in Massachusetts continue to hover around the $ 2 mark as a global economic slump continues to reduce demand for oil. AAA Southern New England's survey of prices in Massachusetts Monday found the self-serve regular average $ 1.96 per gallon. Costs are up 1 cent from last week and are at the same point, like two weeks ago, but 34 cents higher than the beginning of the year, when prices hit five year low at 1.62 dollars. The price is 9 cents below the national average for self-serve to 2.05 dollars and 1.23 dollars less than the $ 3.19 this time found a year ago. The big plunge took place recently, where a decrease costs by lowering cents in double digits every week.
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Iraqi investors want to invest in Pakistan oil, gas

Iraq will begin to explore possibilities for investment in oil, gas in this region of Pakistan, as a result of improvements in Iraq's law and order situation and political stability Crown Group, said the Iraqi delegation to Energy Advisor, Dr. Asim Hussain in a meeting here. They said that Iraq has 115 billion barrels of oil reserves, of which only 75 billion barrels to date have been investigated. In addition, 110 trillion cubic feet of natural gas exist in Iraq.
Source : www.thenews.com.pk

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Energy Stocks: The Economic Recovery May Be Slow

But many investors continue to hold the energy stocks . After a steep decline in energy shares and the price of crude oil and other commodities, last year, many still hope for a revival of crude oil and other large energy companies, in the second half of this year. So far this year in part IV, 9, S & P Energy index fell by 6.3% and 5.2% decline in S & P 500 index. However, in some energy groups, such as oil and gas drilling and energy equipment and services a year.The main dispute between the bulls and bears power: state of the world economy, and whether recovery is soon or later. In the global economy will have a direct impact on the demand for crude oil and other energy sources.
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United States crude oil drop again

United States crude fell by 3.21 dollars, or about 6 percent, to $ 49.03 per barrel yesterday, while Brent crude shed $ 3.00 to $ 51.06. It was after the International Energy Agency (IEA) had drastically reduced its forecast for oil demand, offsetting the impact of earlier data showing Chinese imports of oil rose to the second highest in historyDue to the Passover feast, yesterday was the first day of trading Thursday in almost 6 percent profit on the oil market, propelled by a rally on Wall Street.But it is not all bad news as hopes rose Nigeria is to export crude oil, and Shell Petroleum Development Company (SPDC) yesterday put out a fire in its pipeline Bomu Manifold Ogoniland rivers in the state.
It was part of the oil company's efforts to restart the oil, it is estimated that the output of 120,000 barrels per day (BPD), which had been closed due to accident.
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The IPAA Oil & Gas Investment Symposium

The IPAA Oil & Gas Investment Symposium to be held in New York at the Sheraton New York Hotel and Towers on April 20 - 22, is the most important outlet for publicly traded independent exploration and production, supplies and services and companies to present their businesses to the Community Investment . Last year, the Symposium attracted over 1,600 participants, including over 700 buy / sell-side analysts and portfolio managers and 100 presenting companies.

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Oman signs new oil and gas agreement

The Sultanate of Oman on Saturday signed an agreement with an American firm for exploring new oil and gas facilities in the 3,873 sq km Al Ghubar area (Qarn Alam, Block No. 64 p between Al Wusta and Al Dakhiliyah region). The Gas Exploration Concession Agreement was signed at the Oil and Gas Ministry on behalf of the Sultanate by Dr Mohammed bin Hamad Al Romhi, the oil and gas minister, and on behalf of US-based Harvest Oil Company by James A. Admiston, CEO of the company, and on behalf of Oman Oil by Mulhim Al Jurf, deputy CEO.
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Barzan gas field development delayed

Qatar is delaying Barzan gas field development to take advantage of the dropping cost. The Deputy Premier Abdullah bin Hamad al-Attiyah said yesterday. "Barzan Qatar is a strategic project, we continue to do it. We will not abandon the project," al-Attiyah told Gulf Times Ras Laffan. QP and ExxonMobil announced the project in February 2007. ExxonMobil holds 10% stake in it. Read more >>

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Jordan agreed with International Companies to develop gas field

Jordanian oil ministry announced an agreement on strategic partnership with British Petroleum Company and four other companies related to the development of Al-Risha gas field in Jordan. Jordanian Oil Minister Khaldoun Qutaishat said that the partnership agreement will be signed before the end of this month, the final negotiations are in progress.Read more >>

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Oil And Gas Investing

One of the ways that you can invest in oil and gas is to invest in research. This is probably one of the highest risk of an investment, but if you have money and are willing to accept the risk, it can be a big profit. In addition, it will contribute to the discovery of a new fund reserves of oil and gas, which can be used if necessary. The risk here, of course, is that it does not always possible to find new reserves. There can not be any oil and gas in the area, or may not be sufficient to value the cost of drilling the field.
Another choice if you're looking for something that is less of a risk is to invest in oil and gas companies. These firms are likely to be established, will have enough oil to make sure that, in turn, profit, and can help you earn at least a little money on their investments. You can also choose between investing in large corporations, small and independent projects. Note, however, that the greater the risk, and their greater potential gains may be, and vice versa.
If you want to participate in oil and gas investing but do not want to accept much risk, it is probably best to invest in one of the major oil companies to buy shares.
Source : www.articlecity.com

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Imports of liquefied natural gas could further lower gas prices

An increase in imports of liquefied natural gas is still a challenge for Colorado gas producers. Gas broker John Harpole, President of Mercator Energy in Littleton, said liquefied natural gas imports have increased by 30 percent. He said that it could reduce the price of gas for a quarter of what was years ago.
Natural gas, which can be transported by ship rather than liquefied pipeline.
Harpole spoke Saturday at Grand Junction to the Spring meeting of the Club 20 lobbying group of western Colorado counties and organizations.
Western Colorado has been a hot spot in the country's natural gas boom and felt the effects of the reduction in drilling in the recession worsened.
Energy companies have reduced the drilling in Colorado and Wyoming, as prices plunged and credit tightened. There is a lack of pipeline in both countries in order to obtain the gas to markets.Read more >>

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New Rules on Oil & Gas Drilling Impacts in U.S. National Forests

The U.S. Forest Service is seeking to adopt new rules for the six million acres of national forest lands where oil and gas within the national forests are in private hands. In Pennsylvania, where 93 pct of the 513000-acre Allegheny National Forest is a private possession of minerals that rule making is especially important.
De facto, on the Allegheny National Forest in the last 25 years was to allow oil and gas operators virtually unfettered use of our public forest drill their oil and gas. Without the appropriate Forest Service rules, water has been destroyed, fragmented roadless habitat, recreation trails destroyed, hunting and fishing areas, and decimated. It is in the national forest was established in 1923 to protect the watershed.
Now, U.S. Forest Service is seeking comments on the natural integrity of our national forests are preserved, while private oil and gas assets are disposed of. The future of six million acres of national forest lands is at stake, including not only the Allegheny NF, but also Monongahela NF in West Virginia.Read more >>

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Is It Time the right time to Buy Oil

These indicate a bullish oil inevitability "peak oil", arguing that the time will come when hit global peak oil production. From that point on we will be able to pump less and less crude oil in the earth. In economic terms, we will be faced with declining supply.Meanwhile, bulls argue that the demand will grow significantly as China and other emerging markets, fuel their growth, with crude oil. On average, each person in the United States consumes about 25 barrels of crude oil per year, each person in China uses more than just two. It is a lot of possible future demand. And all of us amateur economists know what happens if the restriction of supply while increasing demand: an increase in prices.Read more >>

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Warren Resources chairman Present At IPAA Oil and Gas Investment Symposium

Warren Resources, Inc. announced that its chairman of the Board, Norman F. Swanton, and Executive Vice President & CFO, Timothy A. Larkin, are scheduled to present at the Oil and Gas Investment Symposium (OGIS), hosted by the Independent Petroleum Association of America (IPAA ), on Wednesday, 22 April 2009, at 11:45, in Sheraton New York Hotel and Towers in New York, NY.
Warren Resources, Inc. is an independent energy company engaged in the research and development of domestic oil and natural gas. Warren business focuses mainly on oil in the Wilmington field in California and coalbed methane properties in the Washakie Basin in Wyoming. The company is based in New York, New York, and its research and development subsidiary, Warren E & P, Inc. has offices in Casper, Wyoming and Long Beach, California.

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Will Kleiner Perkins Startup Oil and Gas Exploration on the Ropes?

Oil and gas startup backed by oil and gas investor,VC heavyweight Kleiner Perkins Caufield & Byers, may be at the border will abdomen, according to a report from PEHub.
Terralliance, which raised $ 295 from Kleiner and other investors the return of oil and gas software, is reported to have fired its founder and CEO of four fifths of its workers and closed offices, because it has to a significant restructuring of the debt burden.
PEHub reports Kleiner Perkins - who emerged as a leading investor in the greentech companies late - invested 10 million dollars in Terralliance in 2004, another $ 35 million in 2005, and then a piece of 250-million dollars round in 2006. Other investors in the 2006 round included Goldman Sachs, DAG Ventures and Dubai-based Ithmar, PEHub reported. Read more >>

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US Oil, Gas Rig Count Up 4 To 1,043 This Week

Number of drilling for natural gas in the United States fell this week as gas producers continue to scale back exploration and production among the sliding energy prices, but oil rig tally increased slightly. The number of oil platforms and natural gas has risen to 1,043, up from four the previous week, according to data from the rig oil field services company Baker Hughes Inc. (BHI). The quantity of gas platform was 808, representing a decrease of two platforms in the last week, while the oil rig count increased by seven to 224. The number of different platforms declined by one to 11. Read more >>

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Nanotechnology for Oil and Gas Recovery?

Can nanotechnology help squeeze more oil and gas on earth? It is the hope of a consortium of energy companies that are putting millions of dollars in the development of new micro-and nanosensor technologies. The seven companies that make up the Advanced Energy Consortium (AEC), which includes Halliburton Energy Services, BP America and ConocoPhilips will put up $ 21 million in total funding for research. The aim is to develop subsurface sensors, which can be used to improve both the discovery and recovery of hydrocarbons.
"It's been a long time coming," said Wade Adams, director of the Richard E. Smalley Institute for nanoscale science and technology at Rice University in Houston, the technical partner of the consortium. "This is the first time when energy companies have jointly fund this type of research, so, in fact, it'sa big deal," she said.
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