Houston, August 6 news, as a result of rising oil prices and the declining cost of oil field services, the U.S. oil and gas companies have recently enhanced awareness of the remainder of the year the performance of the company's forecasts. As a result of oil prices from a quarter of the 43 U.S. dollars a barrel to 60 dollars, such as the United States and Bill Barret as Denbury Resources Inc. Oil and Gas companies have forecast the company's performance will be improved in the second half of this year.
Decline in the cost of services has also helped companies such as Exco and Berry Petroleum oil and gas companies as better than expected quarterly results. Analyst Amir Arif company Stifel Nicolaus, told reporters that the cost of services is expected to continue to decline 5-10 percent, a decline in service fees will be increased drilling activity.
However, BMO Capital Markets said the analyst, he considered that a further decline in the cost of services will reduce their impact on company bottom line.
Aug. 7, 2009
Junin-7 block of Venezuela has 6 billion barrels of recoverable oil reserves
August 1, Caracas, Venezuela, government officials said in recent days by the Venezuelan national oil company (PDVSA) and the Spanish oil giant Repsol joint research of an oil block in Venezuela have more than 6 billion barrels of recoverable oil reserves the oil block likely to begin in 2011 oil production.
Venezuelan President Hugo Chavez in Venezuela to attend the Spanish energy companies and energy companies, signed in Caracas between the number of agreements on the media after the ceremony said: "This will be a great project." Chavez added that, Junin-7 block of Venezuela and Spain will be a joint venture formed to develop the oil block will be on more than 20 million barrels per day. The construction of the project to upgrade facilities to handle tar-like crude oil.
Venezuela and Spain agreed to start in 2005 at the Orinoco oil belt in eastern Venezuela's Junin-7 block the exploration and development cooperation. Orinoco region is considered the world's oil reserves and one of the major oil overweight.
Venezuelan Oil Minister Rafael Ramirez said that the oil block Junin-7 may be in the research end of this year. Once the joint venture sometime next year is approved, oil production may have been approved the day after the beginning of two years.
Aug. 3, 2009
Venezuelan President Hugo Chavez in Venezuela to attend the Spanish energy companies and energy companies, signed in Caracas between the number of agreements on the media after the ceremony said: "This will be a great project." Chavez added that, Junin-7 block of Venezuela and Spain will be a joint venture formed to develop the oil block will be on more than 20 million barrels per day. The construction of the project to upgrade facilities to handle tar-like crude oil.
Venezuela and Spain agreed to start in 2005 at the Orinoco oil belt in eastern Venezuela's Junin-7 block the exploration and development cooperation. Orinoco region is considered the world's oil reserves and one of the major oil overweight.
Venezuelan Oil Minister Rafael Ramirez said that the oil block Junin-7 may be in the research end of this year. Once the joint venture sometime next year is approved, oil production may have been approved the day after the beginning of two years.
Aug. 3, 2009
Iraq's government will auction 10 oil exploration rights
Baghdad, July 26 news, Iraqi government officials said here today that as a result of Iraq has been seeking foreign investors to increase their energy output, so that the Iraqi government will auction 10 oil zone development rights. The official also said that the Iraqi government has decided to be held from the end of this year the second round of the tender gas directory removed West.
Permit Iraq to sell oil contracts and the Council July 26, deputy general manager of the media in a telephone interview, said that potential bidders could be August 25, held in Istanbul during the one-day roadshow to obtain information about these fields .
No. 3 has the world largest oil reserves in Iraq by 2015 intends to bring the country's oil output from the current 2.4 million barrels to 600 million barrels per day. Iraq will hold two rounds of bidding this year to attract foreign investment to help develop its oil and gas assets.
The first two tenders to auction the Majnoon oil fields, respectively, -2 West Qurna oil field, Badra field, the East Baghdad oil field, Garraf field, Halfava field, Naimah oil fields and oil fields Qaivarah. In addition, Furat district of the eastern and central development of the project will also be right to be put to auction.
Jul. 28, 2009
Permit Iraq to sell oil contracts and the Council July 26, deputy general manager of the media in a telephone interview, said that potential bidders could be August 25, held in Istanbul during the one-day roadshow to obtain information about these fields .
No. 3 has the world largest oil reserves in Iraq by 2015 intends to bring the country's oil output from the current 2.4 million barrels to 600 million barrels per day. Iraq will hold two rounds of bidding this year to attract foreign investment to help develop its oil and gas assets.
The first two tenders to auction the Majnoon oil fields, respectively, -2 West Qurna oil field, Badra field, the East Baghdad oil field, Garraf field, Halfava field, Naimah oil fields and oil fields Qaivarah. In addition, Furat district of the eastern and central development of the project will also be right to be put to auction.
Jul. 28, 2009
Canada's two major oil company merger
According to media in Ottawa on July 22 reported that the Canadian Competition Bureau has approved the Government of Canada No. 2 Spodiopogon sand production company Suncor Energy Inc. and No. 3 largest oil company in Canada Petro-Canada merger.
Competition Bureau Canada, the Government agreed to the agreement called for Suncor Energy Inc. and Petro-Canada to take measures to maintain Ontario's retail and wholesale business and in the next 10 years into the Ontario area of the supply and production. Suncor Energy President and CEO, said the new company after the merger will become Canada's largest energy companies. Under the agreement, Suncor Energy Inc. and Petro-Canada from the merger of August 1 this year will take effect.
Jul. 23, 2009
Competition Bureau Canada, the Government agreed to the agreement called for Suncor Energy Inc. and Petro-Canada to take measures to maintain Ontario's retail and wholesale business and in the next 10 years into the Ontario area of the supply and production. Suncor Energy President and CEO, said the new company after the merger will become Canada's largest energy companies. Under the agreement, Suncor Energy Inc. and Petro-Canada from the merger of August 1 this year will take effect.
Jul. 23, 2009
BP: the world's remaining proven reserves of crude oil production to 42 years
Published on the 17th British Petroleum "BP Statistical Review of World Energy 2009," said the world's remaining proven oil reserves of 1.258 trillion barrels (excluding the Canadian oil sands), in accordance with the 2008 annual exploitation rate could be mining for 42 years.
Statistical report also pointed out that in the same manner in accordance with the terms of the existing exploitable natural gas reserves 60 years, and the exploitation of coal reserves could be 122 years.
According to BP's statistics, in 2008 the global primary energy consumption increased by 1.4% in 2001, the slowest growth since a year. China's energy consumption growth slowed for the first 5 years. Overall energy consumption in developed countries fell by 1.3 percent, the U.S. energy consumption declined by 2.8%, in 1982 the largest decline since. BP chief economist at the Ruhr Christopher pointed out that non-OECD countries in 2008 primary energy consumption in OECD countries for the first time.
"BP Statistical Review of World Energy 2009" shows that in 2008 global oil consumption by 0.6%, which is since 1993 the first decline in 27 years is also the biggest drop. Oil consumption in OECD countries fell 3.2%, the third consecutive decline in 3 years. Among them, the United States drop the top, down 6.4%.
Jul. 19, 2009
Statistical report also pointed out that in the same manner in accordance with the terms of the existing exploitable natural gas reserves 60 years, and the exploitation of coal reserves could be 122 years.
According to BP's statistics, in 2008 the global primary energy consumption increased by 1.4% in 2001, the slowest growth since a year. China's energy consumption growth slowed for the first 5 years. Overall energy consumption in developed countries fell by 1.3 percent, the U.S. energy consumption declined by 2.8%, in 1982 the largest decline since. BP chief economist at the Ruhr Christopher pointed out that non-OECD countries in 2008 primary energy consumption in OECD countries for the first time.
"BP Statistical Review of World Energy 2009" shows that in 2008 global oil consumption by 0.6%, which is since 1993 the first decline in 27 years is also the biggest drop. Oil consumption in OECD countries fell 3.2%, the third consecutive decline in 3 years. Among them, the United States drop the top, down 6.4%.
Jul. 19, 2009
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