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BP's Atlantic Richfield Pays $6.75M Settlement

Oil company Atlantic Richfield Co. (ARCO) has to pay damages worth $6.75 million in a settlement for natural resource damages to federal, state and tribal governments. The activities of the company owned by BP Plc., caused pollution in north Idaho’s Silver Valley.

16 Feb 2011

Ecopetrol Confirms Presence of Hydrocarbons at Exploratory Well Tinkhana-I in Putumayo

Ecopetrol S.A. (NYSE: EC; BVC: ECOPETROL; BVL: EC; TSX: ECP) informs that it has proven the presence of hydrocarbons at the exploratory well Tinkhana-1, located in the block known as Western Area in Putumayo.

8 Feb 2011

Chevron to Abandon Coal Mining

Chevron Corporation is gearing up to quit coal mining. The petroleum giant is actively looking for a buyer for its open pit mine located out of Kemmerer in western Wyoming.

31 Jan 2011

Deloitte Says Australia Will Have Mineworker Shortage by 2020

The mining industry may face an acute shortage of manpower in the next few years as per a report from professional services organization Deloitte. The report said that the industry will need 58,000 more workers by 2020 to maintain the production levels that the industry has at present.

24 Jan 2011

Growing Concern from Europe on Future Supply of Raw Materials

The European Union is seeing the shortage of raw materials as a major risk for the global economy as demand begins to exceed supply. European Union trade chief Karel De Gucht said that no country possessed all the raw materials that it needed.

21 Nov 2010

China North East Petroleum Gross Profit Increases 37.1% in Q3 2010

China North East Petroleum Holdings Limited (NYSE Amex: NEP), a leading independent oil producing and oilfield services company in Northern China, today announced consolidated financial results for the third quarter ended September 30, 2010.

20 Nov 2010

Shell Offloads $3.3 Billion Stake in Woodside

Royal Dutch Shell has agreed to sell one third of its stake in the Australian company Woodside Petroleum for $US3.3 billion or about $A3.26 billion. Approximately 78.34 million shares would be sold by Shell to equity investors as per a company statement.

From Woodside Petroleum Ltd. 9 Nov 2010

Miller Petroleum Receives License Extension Approval for Susitna Basin Exploration

Miller Petroleum, Inc. dba Miller Energy Resources (Nasdaq Global Market: MILL) a high growth oil and natural gas exploration, production and drilling company announced today that its wholly owned subsidiary Cook Inlet Energy, LLC has obtained approval for a three year extension of the Susitna Basin Exploration License No. 2, ADL 390078 which encompasses 471,474 acres.

2 Nov 2010

Goodrich Petroleum Updates on Third Quarter Operations

Goodrich Petroleum Corporation (NYSE: GDP) today announced its third quarter operational update.

1 Nov 2010

Tethys Petroleum Starts Operation at NUR96H2 Horizontal Well in North Urtabulak Oil Field

Tethys Petroleum Limited (TSX:TPL) today announced that operations had commenced on the NUR96H2 horizontal development well on the North Urtabulak oil field.

29 Oct 2010