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Rosneft closes deal with PetroRio, assumes 100% interest in Solimoes project

Rosneft Brasil (100% owned Rosneft subsidiary) and Petro Rio S.A. (PetroRio) announce the closing of the Rosneft Brasil transaction to acquire PetroRio's 55% in the Solimões project. Closing follows formal approval of the transaction by ANP (Agencia Nac ...

Oil Market Muddle Continues Because Of Wrong Focus

CONFUSED? You will remain confused by oil markets as long as you continue to only look at physical supply and demand. Here is my long, but I think essential, historical explanation about why I think this is the root of today's forecasting problems. And I also ...

A positive future for Brazilian Oilfield Services despite short-term challenges ahead

After a year with a dramatic drop in oil prices topped with an intricate corruption scandal, the oil and gas environment in Brazil is now experiencing large investment cuts and fierce competition for new contract awards between oilfield service companies, howe ...

INEOS to purchase North Sea gas assets from DEA

INEOS announced that it has agreed to acquire a strong portfolio of natural gas assets in the North Sea from a UK subsidiary of DEA Deutsche Erdoel AG, which is part of the LetterOne Group. INEOS Upstream will acquire gas fields, including the Breagh and Clip ...

Primeline Energy Holdings and CNOOC agree to extend exploration period for Block 33/07

Primeline Energy Holdings Inc. (TSX VENTURE:PEH) today announced that China National Offshore Oil Corp has agreed to extend the exploration period under the Petroleum Contract for Block 33/07 to facilitate Primeline's exploration drilling programme. On Octobe ...

PRD Energy announces resignation of Chief Financial Officer

PRD Energy Inc. (TSX VENTURE:PRD) announces that Jeff Scott, Vice President, Finance and Chief Financial Officer, has resigned from his position as an officer of the Company effective October 9, 2015. The Board of Directors of PRD Energy Inc. would like to tha ...

ORLEN Upstream Canada to acquire Kicking Horse Energy

ORLEN Upstream Canada Ltd., a wholly owned subsidiary of PKN ORLEN S.A. (WSE: PKN), and Kicking Horse Energy Inc. (TSX VENTURE: KCK) announced today that they have entered into a definitive agreement pursuant to which ORLEN Upstream Canada will acquire all of ...

Fluor Corporation awarded Kuwait's Al-Zour contracts

Fluor Corporation (NYSE: FLR) announced today that its joint venture team was selected by Kuwait National Petroleum Company (KNPC) as the preferred bidder for two engineering, procurement and construction (EPC) packages. Facilities in the two packages will inc ...

BP: New economics of oil

Executive summary of speech by Spencer Dale, BP Group Chief Economist, at the Society of Business Economists Annual Conference, LondonAs economists, our analysis and interpretation of oil markets are typically based on our beliefs of the main factors driving t ...

Beyond the bickering, bill lifting oil-export ban wins bipartisan support

Americans are sick of the bickering in Washington and want both parties to cooperate and get something done. Friday, October 9, offered proof that this can still happen. The house passed H.R. 702, the bill to lift the decades old, and outdated, oil export ban ...

Transerv Energy spuds Warro-6

Transerv announces that Warro-6 spud on Sunday, 11 October and is currently drilling ahead in 17 ½' hole at 1305m RT. The spud of the well was later than anticipated due to mechanical issues during the rig move and set up. Warro-6 is being drilled as a ...

Oil price, Amerisur, Circle, Empyrean, And finally...

Oil price After a good, if short run, the oil price came back a fair bit yesterday on the back of a number of maybe related pieces of news. Opec produced their monthly which made quite good reading but also announced that the cartel's production was up to 31. ...

Amerisur Resources announces results of Loto-2 well, Colombia

Amerisur Resources Plc, the oil and gas producer and explorer focused on South America, is pleased to provide an update on operations at the Loto-2 well, CPO-5 Block, Colombia. The Company is pleased to report that the Loto-2 well has been successfully direct ...

Circle Oil announces results of Ksiri West-A exploration well, Morocco

Circle Oil plc (AIM: COP), the North African focused oil and gas exploration, development and production company, is pleased to provide an update on the progress of the Ksiri West-A (KSR-A) exploration well on the Sebou Permit, onshore Morocco. The KSR-A well ...
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