Crude Oil / Petroleum News

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U.S. One-Two Punch: East Coast Spurns Europe And Gulf Coast Targets Latin America

ESAI Energy forecasts a growing gasoline glut in the Atlantic Basin, which will pressure gasoline prices for the next several years. This bearish view is a marked shift from the uncertainty about gasoline supply to the East Coast just a few months ago.

24 May 2012

Eco Atlantic Receives Independent Leads Report Of 9.2 Billion Barrels Best Estimate On Guy Block, Walvis Basin, Offshore Namibia

ECO (ATLANTIC) OIL AND GAS LTD. is pleased to announce the Company has received an independent Lead Report for blocks "2111B" and "2211A" collectively the "Guy Block" in the Walvis Basin, offshore Namibia, including a (P50) Best Estimate of 9.2 Billion barrels of gross prospective oil. The report was prepared by qualified independent reserves evaluator Gustavson Associates LLC ("Gustavson") of Boulder, Colorado in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). This report complements the Leads Reports on Eco Atlantic's other offshore blocks in the Walvis Basin, ("Sharon" and "Cooper") bringing the Company's total best estimate prospective resources offshore Namibia to approximately 18 Billion barrels.

23 May 2012

Energy Investments To Sky-Rocket To More Than $20 Billion In Bahrain

Bahrain 's energy sector is posed for significant growth over the next several years, the country's Energy Minister Dr. Abdulhussain Mirza said.

23 May 2012

Oil Geologists Give Wind Power A Lift

Offshore Wind farms are expensive to install and operate. Now, Uni CIPR geologists are transferring knowledge from the oil industry to help improve profitability in the wind power industry.

22 May 2012

Interoil Offers Updates for Triceratops-2 Well

InterOil has declared that the Triceratops-2 well, situated at Papua New Guinea, was drilled from the 9 5/8 casing shoe, the current total depth (TD) was increased from 4,111 to 5,971 ft. At 3,976 ft, the top marl transition zone was observed and at 4,482 ft, the top of the carbonate reservoir was observed.

3 Apr 2012

MENA Declares Oil Production at Lagia Oil Field

MENA Hydrocarbons, a global oil and gas company, has declared the results of its Lagia 6 re-entry, situated on its 100% owned Lagia Development Lease, located in Egypt. The Lagia 6 re-entry is the first of the two re-entries in its six wells.

3 Apr 2012

American Petro-Hunter Announces 2012 Development Drilling Program for Oklahoma Mississippi Lime Projects

American Petro-Hunter, an exploration and production company, has announced the 2012 development drilling program for its Oklahoma Mississippi Lime Projects. The company has planned to drill five more horizontal wells with three on the South Oklahoma Project and two on the leased North Oklahoma Project.

27 Mar 2012