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Sterling Resources Q2 loss widens

Aug 18 - Canadian oil and gas company Sterling Resources Ltd (SLG.V) posted a wider quarterly loss, hurt by interest expense on secured notes and lower interest income. For the second quarter, the company reported a net loss of C$1.7 million, or 1 Canadian cent per share, ...

BP, Iraq officials meet over Rumaila oil deal

BASRA, Iraq, August 17 - A technical team from oil major BP (BP.L) has met Iraqi oil engineers as part of preparations to sign a deal to develop Iraq's giant Rumaila field, senior Iraqi oil officials said on Monday. Dhiya Jaafar, acting chief of Iraq's South Oil Co., said there ...

Exxon to extend life of Australia Bass Strait fields

PERTH, Aug 17 - ExxonMobil Corp (XOM.N) plans to extend oil and gas production from its resources in the Bass Strait off southeast Australia by at least 30 years, the company said on Monday. Exxon said it plans to bring two more fields online for the Kipper-Tuna and Turrum ...

Sinopec Q2 net hits record, sees higher profits

HONG KONG, Aug 23 - Sinopec Corp (0386.HK), the world's second-largest oil refiner after Exxon Mobil (XOM.N), posted record quarterly profits that widely exceeded expectations on higher fuel prices and falling crude oil prices, underscoring the turnaround in fortunes for China's ...

Australia sprays oil slick amid wildlife fears

SYDNEY, Aug 23 - Aircraft sprayed chemicals to break up a large oil slick off Australia's northwestern coast on Sunday as environmentalists expressed fears for rare wildlife from oil gushing into the sea from an uncapped well. The Australian Maritime Safety Authority (AMSA) said ...

NZ Oil and Gas takes 40 pct stake in permit

WELLINGTON, Aug 26 - Energy company New Zealand Oil and Gas Ltd (NZO.NZ) said on Wednesday it had taken a 40 percent stake in the Albacore oil and gas permit. The area, in New Zealand's resource rich region of Taranaki, is expected to be drilled later this year. Shares in the ...

Oil India plans IPO to raise as much as $570 mln

NEW DELHI, Aug 25 - Explorer Oil India Ltd plans to raise as much as 27.8 billion rupees ($570 million) through an IPO next month, a senior official said, making it the second state-run firm to offer new shares to the public this year. Oil India, which deferred an IPO last year ...

Russian gov't approves energy strategy until 2030

MOSCOW, Aug. 27 - The Russian government has approved an energy strategy that aims to make full use of the country's natural resources and strengthen its position on international energy markets, Energy Minister Sergei Shmatko said Thursday. The strategy, approved until 2030, ...

China's CNOOC 1H net profit falls 55% on lower crude oil prices

BEIJING, Aug. 26 - China's CNOOC Limited, the listed subsidiary of China National Offshore Oil Corporation (CNOOC), said Wednesday its net profit dropped 55 percent from a year ago to 12.4 billion yuan (1.82 billion U.S. dollars), or 0.28 yuan per share, in the first half. The ...

SandRidge to buy bankrupt Crusader Energy

BANGALORE, Sept 23 - U.S. oil and gas exploration and production firm SandRidge Energy Inc (SD.N) has struck a deal to buy bankrupt rival, Crusader Energy Group Inc (CKGRQ.PK), for $230 million, in a cash and stock deal that would give it additional acreage in the Anadarko and ...

XTO Energy Inc increases 2010 hedges

HOUSTON, Sept 23 - XTO Energy Inc (XTO.N) on Wednesday said it has increased price hedges for its production in 2010, and the company expects natural gas prices to recover next year. "We have now hedged approximately fifty-five percent of our projected 2010 production and remain ...

ATP Oil & Gas cuts Q3 production view, shrs fall

Sept 22 - ATP Oil & Gas Corp (ATPG.O) lowered its third-quarter production estimates, announced stock offerings and said it would sell some of its oil and gas pipelines to reduce debt. Shares of the company fell nearly 9 percent at $20.23 in trading after the bell. The company ...

Iraqi MP wants reported purchase of oil shares

BAGHDAD, Sept. 27 - An Iraqi legislator on Sunday called to set up a parliamentary committee to investigate media reports about a Kurdish minister's illegal purchase of shares in the Norwegian oil giant DNO International, which works in the Iraqi autonomous region of Kurdistan. ...

ProspEx shares soar on drilling update

Sept 28 - ProspEx Resources Ltd (PSX.TO) said flow test results from one of its wells at East Kakwa exceeded expectations and said a new project in West Central Alberta offered similar potential. Shares of ProspEx, a Calgary-based oil and gas company, were up 62 percent at C$1.20 ...

U.S. Exxon Mobil wins deal of giant oilfield in southern Iraq

BAGHDAD, Nov. 5 - The Iraqi Oil Ministry said Thursday it has awarded a consortium led by Exxon Mobil Corp. and Royal Dutch Shell PLC a license to develop its West Qurna phase 1 oilfield. Iraqi Oil Minister Hussein al-Shahristani told a press conference that the agreement was ...

Sunoco's NJ refinery stopped production

Nov 5 - Oil and gas company Rex Energy Corp (REXX.O) posted a wider-than-expected quarterly loss, hurt in part by a fall in oil and gas sales. The exploration and production company posted net loss of $1.2 million, or 3 cents a share, net earnings of $36.8 million, or $1.00 a ...

Oil & gas profits slide, cost cuts help outperform

BANGALORE, Nov 5 - Independent oil and gas firms EOG Resources (EOG.N), Petrohawk Energy (HK.N), Plains Exploration (PXP.N) and Continental Resources (CLR.N) all reported sharply lower quarterly profits due to a slump in prices. The global economic slowdown has reduced demand for ...

Plains All American Q3 results beat estimates

Nov 4 - Plains All American Pipeline LP (PAA.N) posted third-quarter earnings that beat analysts estimates, helped by lower costs. In the latest quarter, the oil and gas pipeline operator posted a net income of $122 million, or 65 cents a unit, compared with $206 million, or $1...

Angolan oil output to surge over next 5 years

LONDON - Angola's oil industry is booming as money pours in after the end of three decades of civil war, and officials say output could increase by as much as two-thirds over the next five years. Buoyed by a scramble for energy and raw materials by China and other emerging ...

Apache says some Gulf oil, gas output shut by storm

HOUSTON, Nov 9 - U.S. independent oil and gas producer Apache Corp (APA.N) shut and evacuated 23 company-operated fields in the Gulf of Mexico, a spokesman said on Monday. The company curtailed output of 23,800 barrels (bpd) of oil and 124 million cubic feet (mmcf) of natural gas ...
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