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Latest Headlines

BP buying Devon's Brazil, US Gulf & Azeri assets for $7 billion
BP has agreed to pay Devon Energy US$7 billion in cash for a portfolio including deepwater blocks in Brazil and the US Gulf of Mexico...

Marathon sets 24-well drilling program for Wyoming
(3/14/2010) Marathon Oil has scheduled a 24-well development drilling program for its operations in Wyoming near Cody, Garland, Grass Creek...

Jubilant's Cauvery Basin test well looks to be a dud
(3/14/2010) Jubilant Energy's latest exploration well drilling in India's east coast onshore Cauvery Basin has seen no significant hydrocarbons...

Expect no changes at OPEC's Wednesday meeting
(3/14/2010) The Organization of Petroleum Exporting Countries is not expected to make any fundamental changes in its official production level...


Timor Leste may halt Greater Sunrise development
(3/14/2010) President Jose Ramos-Horta of Timor Leste, said today his country is serious about its interests being part of the development plan...

1st of 2 Pearl GTL platform sail for Qatar
(3/14/2010) The first of two platform structures has left a J Ray McDermott fabrication yard in Dubai bound for the waters off Qatar...

Blackhawk drilling 1st Bodo well in Provost, Alberta
(3/14/2010) Blackhawk Resource has commenced drilling the first of two back-to-back wells on its Bodo property in Alberta, Canada...

ATP puts US Gulf Telemark Hub well onstream
(3/14/2010) ATP Oil & Gas' major deepwater US Gulf of Mexico development, the Telemark Hub, is on schedule for first production...

EnCore Oil prepping to drill UK North Sea Catcher prospect
(3/14/2010) The Tertiary Catcher Prospect in the UK sector of the North Sea is to be spudded in May now that a rig has been contracted...

CNOOC pays $3.1 billion for 50% of Bridas
(3/14/2010) China National Offshore Oil Corporation has agreed to invest US$3.1 billion to form a joint venture of Bridas Corporation...

US drilling activity higher by 11 rigs
(3/12/2010) Baker Hughes has reported today the week's rig count shows US drilling activity is continuing to increase with 1,407 active rotary rigs...

GAIL, GSPC, & Bengal win Tamil Nadu concession
(3/12/2010) India's Tamil Nadu state has awarded a petroleum exploration license in the Cauvery Basin to Gas Authority of India Limited...

WorleyParsons doing FEED for Jasmine North Sea development
(3/12/2010) ConocoPhillips has selected WorleyParsons to provide front end engineering design definition and procurement...

Fugro takes delivery of new seismic vessel
(3/12/2010) Fugro has taken delivery of a newbuild seismic acquisition vessel, which it commissioned in 2007, the M/V Fugro Searcher...

ABB picks up Qatar oilfield safety & control project
(3/12/2010) ABB has received a US$2.8 million contract to design and develop a major integrated safety integrity level 3 and control solution...

Sinopec sub set to start-up giant Puguang gasfield
(3/12/2010) Sinopec unit Zhongyuan Oilfield has commenced production from the enormous Puguang gasfield in China's Sichuan Province...

Alberta cuts oil & gas producers' royalty rates
(3/12/2010) Canada's Alberta Province intends to reduce royalty rates producers must pay on conventional oil and gas wells and shale gaswells...

Perenco awarded offshore block in Cameroon basin
(3/12/2010) Cameroon's Societe Nationale des Hydrocarbures yesterday granted a new production sharing contract to Perenco...

Statoil starts low-pressure production at Oseberg
(3/12/2010) Low pressure production was recently begun on the Oseberg Field in the Norwegian sector of the North Sea to increase output...

OGX finds Aptian oil in shallow water Campos Basin
(3/12/2010) OGX Petroleo e Gas Participacoes has identified an oil-bearing interval in the Aptian section of its latest exploration well off Brazil...

IEA bumps up estimate of world oil demand
(3/12/2010) The International Energy Agency has increased its prediction of demand for oil worldwide in its latest monthly outlook...
Red Sky farm-in with Central Petroleum held to Pedirka Basin
(3/12/2010) Red Sky Energy has decided to focus its farm-in with Central Petroleum solely on the Pedirka Basin in Australia's Northern Territory...

Dragon taps down & tests Turkmen Caspian wells
(3/12/2010) Dragon Oil has concluded the completion and initial testing of both the Dzheitune A/142 and 13/143 development wells...

Oil Search's Yemen well finds more gas enroute to TD
(3/12/2010) Oil Search has again penetrated a gas-bearing section in its Al Meashar-1 exploration well being drilled onshore Yemen...

GeoPark & LG International form Latin American partnership
(3/12/2010) GeoPark Holdings and LG International have formed a new partnership to jointly acquire and develop upstream projects...
AED operator of Brunei Block L after Nations takeover
(3/12/2010) AED Oil has assumed the operatorship of Brunei's Block L with the completion of its acquisition of Nations Petroleum...

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From the Editor

Bay of Bengal sovereignty disputes ill afforded

Dev George
Managing Editor


Once again the sabers are rattling in the Bay of Bengal. India, Bangladesh, and Burma (Myanmar), the three littoral neighboring nations, have renewed their aggressive claims to large swaths of the Bay as it becomes evident the shared region of the Indian Ocean extending landward to the mouths of the Ganges harbors huge potential hydrocarbon reserves in quantities that all three need to solve their burgeoning demands...continue reading

Click here for prior editorials.
Oil/Gas Prices & Analysis
Another day of lackluster trading ends down

(3/12/2010) Crude futures slipped about 1% in today's trade at both the New York Mercantile Exchange (Nymex) and the InterContinental Exchange (ICE) in London in reaction to a report that said American consumers were less than enthusiastic about the economy, particularly about employment, during the first part of this month, but that negative was balanced a bit by an increase in retail sales over the month of February even with the rash of winter storms...Go to latest O&G prices/analysis
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