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Conoco, Mubadala Kazakh JV sees 1.5-3 bln crude reserves

ABU DHABI, Nov 10 - Abu Dhabi investment vehicle Mubadala and ConocoPhillips' (COP.N) offshore oilfield in Kazakhstan may hold as much as 3 billion barrels of crude in reserves, a company spokesman said on Tuesday. "Mubadala Oil and Gas and its partners (KazMunayGas and ...

Peyto Energy Q3 profit falls 58 pct

Nov 11 - Canada's oil and gas explorer Peyto Energy Trust (PEY_u.TO) posted a 58 percent drop in quarterly profit, hurt by lower oil and gas production. For the third quarter, the company earned C$27 million, or 24 Canadian cents per unit, compared with C$64.8 million, or 61 ...

Harvest Energy Trust investors approve KNOC offer

CALGARY, Alberta, Dec 15 - Harvest Energy Trust (HTE_u.TO) investors backed Korea National Corp's [KOILC.UL] C$1.8 billion ($1.7 billion) takeover bid for the Canadian company on Tuesday, moving South Korea's biggest overseas energy deal a step closer to completion. KNOC still ...

Exxon Mobil to buy XTO Energy in big U.S. gas bet

NEW YORK/HOUSTON - Exxon Mobil Corp plans to buy XTO Energy Inc for about $30 billion in stock, in a move that thrusts the U.S. energy giant to the forefront of North America's fast-growing natural gas industry. With the buy, Exxon, the largest publicly traded energy company, ...

Oil, gas co's to hike new project spending-survey

NEW YORK, Dec 17 - Global spending on oil and gas exploration and production will rise 11 percent to $439 billion in 2010, reversing a drop in pending in 2009 as energy prices climb, according to a survey conducted by analysts at Barclays Capital. The increase shown by the survey ...

SCENARIOS: Oil price impact on Gulf Arab spending plans

DUBAI - The recovery in oil prices will help Gulf Arab oil exporters emerge from the economic downturn, enabling them to keep fiscal stimulus in place for a longer period than administrations in other parts of the world. Saudi Arabia, the world's top oil exporter, and its five ...

Protests over amnesty delays hit Nigeria oil delta

PORT HARCOURT/YENEGOA, Nigeria, Dec 23 - Security forces have deployed in two cities in Nigeria's oil-producing Niger Delta in the past two days to disperse former militants protesting over the non-payment of amnesty allowances. Activists say the government is not keeping the ...

Algeria struggles to wean economy off oil and gas

TOLGA, Algeria - Algerian farmer Gholam Attia plucks an almost translucent deglet nour, or "finger of light," date from one of the palm trees growing in his plantation, and voices his anger. "My dates are delicious, they taste like caramel. I want to export but the bureaucracy is ...

Shell offshore oil drill plan in Alaska challenged

ANCHORAGE, Alaska, Jan 20 - Environmental and Alaska Native groups have filed a legal challenge seeking to overturn U.S. approval of Royal Dutch Shell Plc's (RDSa.L) plans to drill up to three wells this year off the shore of Alaska, representatives said on Wednesday. Late on ...

U.S. lawmakers have worries with Exxon-XTO merger

WASHINGTON, Jan 20 - U.S. Democratic lawmakers on Wednesday expressed concern that the merger of Exxon Mobil and XTO Energy would reduce competition in the oil and gas markets and increase the use of a controversial drilling technique. Exxon Mobil (XOM.N) said last month it ...

US sets $1 bln export aid to Colombia oil company

WASHINGTON, Jan 19 - The U.S. Export-Import said on Tuesday it has made a preliminary $1 billion commitment to help finance exports of U.S. and goods services to Colombia's national oil company, Ecopetrol SA ECO.CN. "This preliminary commitment will help Ecopetrol expand its ...

Stratic Energy agrees to defer debt repayment

LONDON, Aug 4 - Stratic Energy (SE.L) (SE.V) has reached an agreement with its banking syndicate for an amendment on its loan facility and an additional line of credit, the Toronto and AIM-listed oil and gas explorer said on Monday. The banking syndicate agreed to defer debt ...

KazMunaiGas ups cost estimate for major gas project

ALMATY, Jan 25 - Partners in the Karachaganak gas project in Kazakhstan will need to invest $14.5 billion to bring its third phase into production, an 80 percent cost hike on the previous estimate, state oil and gas firm KazMunaiGas said. KazMunaiGas [KMG.UL] issued the revised ...

Ugandan President meets Tullow CEO over oil deal

KAMPALA, Jan. 24 - Ugandan President Yoweri Museveni has met and held discussions over oil deal with Aiden Heavey, the chief executive officer (CEO) of Tullow Oil, the Irish company currently exploring oil in western Uganda. According to a State House news release received on ...

Brazil's oil giant Petrobras approves purchase of Quattor

RIO DE JANEIRO, Jan. 24 - Brazil's state-owned oil and gas giant Petrobras announced its approval of the purchase of petrochemical company Quattor on Friday. Braskem, controlled by Petrobras and construction giant Odebrecht,actually purchased Quattor for 870 million reais (478 ...

Shell's Perdido oil field may start by Feb. -U.S.

HOUSTON, Jan 27 - Royal Dutch Shell Plc's (RDSa.L) Perdido oil and gas project in the Gulf of Mexico will start up soon, perhaps as early as the end of January, the U.S. Minerals Management Service said on Wednesday. The government agency, which oversees oil and gas production in ...

Australia Karoon Gas requests trading halt

PERTH, Feb 2 - Australian oil and gas explorer Karoon Gas Ltd (KAR.AX) requested a trading halt of its shares on Tuesday pending an announcement on drilling results on its Browse acreage of west Australia, the company said. Shares in Karoon, a partner with U.S. major ConocoPhilli...

Dana Gas posts Q4 loss amid write-offs

DUBAI - Dana Gas DANA.AD posted a fourth quarter loss of 193 million dirhams ($52.54 million), its second consecutive loss, after 2009 accounting write-offs and the impairment of some oil and gas assets The Abu Dhabi-listed firm however said it would pursue targeted acquisitions. ...

Polish, Russian firms sign agreement on gas supplies

WARSAW, Jan. 28 - The Polish oil and gas corporation PGNiG, Russia's gas operator Gazprom Export and EuRoPol Gaz have signed an agreement on extra gas supplies to Poland, PGNiG said here in a press release on Thursday. The agreement, signed in Moscow on Wednesday, prolongs the ...

Aref Energy sells 95 pct of its stake in Texas JV

KUWAIT, March 9 - Kuwaiti group Aref Energy Holding Co (AREF.KW) said it sold 95 percent of its stake in a gas joint venture in Texas, making about $60 million profit. In 2007, Aref set up DeWitt Tract Co, a fully-owned unit with a 50 percent share in a 20-year oil and gas ...
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