Apache announces three successful horizontal wells in Northeast British Columbia Thursday, April 10, 2008   Apache Corporation announced today that horizontal wells drilled in the Ootla shale play in Northeast British Columbia test-flowed at rates of 8.8 million cubic feet (MMcf), 6.1 MMcf and 5.3 MMcf of gas per day.   Headlines OPEC Weekly Prices dive below USD $110 Tuesday, August 19, 2008 The weekly average oil prices of the Organization of Petroleum Exporting Countries (OPEC) dropped to USD $109.73 per barrel last week, the Vienna-based cartel said. OPEC trims demand outlook Sunday, August 17, 2008 Opec cut its forecast for global oil demand growth in 2008 for a fifth month and said production is more than adequate, signalling a more comfortable supply and demand balance. Iraq Resumes Oil Exploration After 20-Year Break Sunday, August 10, 2008 Iraq said it was resuming exploration of its immense oil reserves after a break of nearly 20 years because of crippling UN sanctions. StatoilHydro announces new discovery in Algeria Sunday, August 10, 2008 StatoilHydro has, together with its partner Sonatrach, made a fifth discovery in the Hassi Mouina licence in the Sahara desert in Algeria. The existence of gas was confirmed in exploration well TNKW-1 in the southern part of the licence. Iran will face "further measures" says US Tuesday, August 5, 2008 Iran faces "further measures" such as sanctions if it does not respond positively to an offer by major powers to suspend its nuclear programme for incentives, the US State Department said. Geotrace grabs significant 3D seismic project offshore Libya Tuesday, August 5, 2008 Geotrace will be providing one of the world’s largest onboard seismic data processing projects to BP Exploration Libya Ltd as part of a seismic acquisition contract awarded to Wavefield Inseis by BP Exploration Libya Limited. Geotrace, through its long term agreement with Wavefield Inseis, will outfit the Geowave Endeavour with a large computer center for onboard processing. This will allow the seismic data to be managed quickly and cost effectively. StatoilHydro to Halt New Investments in Iran Tuesday, August 5, 2008 Norwegian oil and gas group StatoilHydro confirmed on Friday it will not make any new investments in Iran, following pressure from the United States to isolate the Islamic Republic over its nuclear ambitions. Oil drop once more below 120 dollars Tuesday, August 5, 2008 World oil prices fell below 120 dollars a barrel on Tuesday, a day after hitting the trough for the first time for three months, as slowing US demand for energy offsets tensions over crude-rich Iran, traders said. Kuwait plans to stockpile oil overseas Tuesday, August 5, 2008 Kuwait City: Rising international tension between Iran and the West has prompted Opec-member Kuwait to consider long-term plans to increase storage of its oil abroad, oil industry sources and diplomats said. Dana Gas and Crescent Petroleum announce establishment of 461 million square feet site for Kurdistan Gas City Monday, August 4, 2008 Gas Cities a joint venture between Dana Gas PJSC, the Middle East's first and largest regional private-sector natural gas company, and its partner Crescent Petroleum, announced that the 461 million square foot site for the Kurdistan Gas City has been officially assigned by the Kurdistan Regional Government (KRG), for development by Gas Cities LLC, following extensive surveys that have been completed on potential sites within the Kurdistan Region of Iraq Demand for fuel in UAE increased 4.6% in 2007 Monday, August 4, 2008 UAE fuel demand grew by around 4.6 per cent to more than 223,000 barrels per day in 2007 and industry sources expect it to swell by over five per cent this year. Abu Dhabi firm wins Dh500m US contract Monday, August 4, 2008 Oderco Oil Equipment Company has won a Dh500 million order from an unidentified US-based drilling contractor for the supply of 10 onshore rigs, the Abu Dhabi-based company's chairman said. Chevron Announces First Oil Production from Agbami Field, Offshore Nigeria Monday, August 4, 2008 Chevron Corporation announces that its Nigerian affiliate, Star Deep Water Petroleum Ltd, has commenced crude oil production from the Agbami Field, located offshore Nigeria. StatoilHydro to Halt New Investments in Iran Monday, August 4, 2008 Norwegian oil and gas group StatoilHydro confirmed on Friday it will not make any new investments in Iran, following pressure from the United States to isolate the Islamic Republic over its nuclear ambitions. Candax Hooks Up, Tests Production of Ebb-3 Well Offshore Tunisia Monday, August 4, 2008 Candax Energy Inc. has announced the completion of the hook-up of EBB-3 the third and final of the three development wells in the El Bibane field offshore Tunisia. BP Angola umbilical contract to Aker Solutions Thursday, July 31, 2008 BP Angola umbilical contract to Aker Solutions Aker Solutions has been awarded a frame contract by BP for the delivery of subsea umbilicals to the oil company's PSVM ultra-deepwater field development offshore Angola. Intial contract value is approximately NOK 360 million. Libya frees Lukoil exec Thursday, July 31, 2008 A Lukoil executive detained in Libya since last year has been freed, the Russian company said today, hours before Russian Prime Minister Vladimir Putin was due to meet his Libyan counterpart al-Baghdadi Ali Al-Mahmoudi. BP's profit jumps but output flat Tuesday, July 29, 2008 UK giant BP reported soaring profits in its second quarter results due to high oil and gas prices but production remained flat. Duo prime Kurdish gas pumps Tuesday, July 29, 2008 United Arab Emirates-based Crescent Petroleum and its affiliate Dana Gas will begin supplying natural gas in Iraq's Kurdish region in the coming weeks, the pair said. Interpipe launch new anti-corrosive coating line for oil and gas pipes Monday, July 28, 2008 Leading steel pipe and railway wheels producer Interpipe has announced the opening of a new production line at Interpipe NMPP mill. The new line gives Interpipe the capacity to produce pipes with an external anti-corrosive 3-layer coating for both seamless and welded pipes up to 530 mm for oil and gas transportation. Mend 'blows up Shell pipelines' Monday, July 28, 2008 Nigerian militant group the Movement for the Emancipation of the Niger Delta (Mend) has claimed it has attacked two major crude oil pipelines operated by Anglo-Dutch supermajor Shell. Eni makes significant gas discovery in Sicilian Strait Monday, July 28, 2008 Eni has made a new, significant gas discovery in the Sicilian Strait, with the Cassiopea 1 well at a water depth of some 560 meters, about 22 kilometers off the coast of Agrigentos. Gulfsands starts up production at Khurbet East Field Monday, July 28, 2008 Gulfsands Petroleum plc has announced that the production of oil commenced at the Khurbet East Early Production Facility in Block 26, Syria on July 21, 2008. Saipem awarded new onshore contracts in Saudi Arabia and Nigeria Monday, July 28, 2008 Saipem has been awarded new orders in the onshore worth a total of approximately 1.6 billion euro in Saudi Arabia and Nigeria. RWE Dea continues successful trainee program in Libya Monday, July 28, 2008 Eleven young Libyans signed an agreement at RWE Dea’s Representative Office in Tripoli to take part in a three-year trainee program. In the process, the Company is continuing its successful trainee program launched two years ago. Dominion Gas makes £4million asset investment Monday, July 28, 2008 Scotland’s only oil field service company supplying the full range of diving, welding, industrial, laboratory, test and calibration gases, Dominion Gas announces further investment in UK and Norwegian markets. Shaw Awarded Process Technology Package for World’s Largest Residue Fluid Catalytic Cracking Unit Monday, July 28, 2008 The Shaw Group Inc. announced that its Energy & Chemicals Group has been selected to provide engineering services and licensing for its proprietary Residue Fluid Catalytic Cracking (RFCC) technology to Abu Dhabi Oil Refining Company (Takreer). Oil prices could drop if Iran concerns allayed, says OPEC president Monday, July 28, 2008 The price of oil could drop to between $70 and $80 a barrel if the dollar strengthens and concerns over Iran are reduced, OPEC chief Chakib Khelil said. Total announces signature of an agreement with Libyan National Oil Corporation to renew NC115 and NC186 contracts Monday, July 21, 2008 Total confirms that an agreement has been signed for Repsol operated blocks NC115 and NC186 with Libya's National Oil Corporation (NOC) in the Murzuq basin, onshore Libya, some 700 kilometres south of Tripoli. SABIC exceeds all records reporting 14.5 billion Saudi riyal profit for first half 2008 Sunday, July 20, 2008 The Saudi Basic Industries Corporation (SABIC) reported preliminary consolidated net profits of SR 14.5 billion for the first six months ending June 30, 2008 compared with SR 12.8 billion in the same period in 2007, an increase of 13 percent. OMV makes discovery at Jenein Sud Block in Tunisia Sunday, July 20, 2008 OMV Aktiengesellschaft has announced the discovery and successful testing of condensate and gas in its Ahlem-1 exploration well in the Jenein Sud exploration permit in Southern Tunisia. This is the third successful discovery in the permit within the last two years and highlights the potential of this block, which is operated by OMV (Tunesien) Exploration GmbH. Iran discovers new Billion barrel oilfield in Southwest Sunday, July 20, 2008 Iranian Oil Minister Gholam Hossein Nozari said on Sunday that Iran has discovered a new oil field in the southwest province of Khuzestan with in-place reserves of 1.1 billion barrels. Gazprom delegation Journeys to Libya to strengthen ties Monday, July 14, 2008 Headed by Alexey Miller, Chairman of the Gazprom Management Committee, a Gazprom delegation visited the Socialist People's Libyan Arab Jamahiriya. Within the visit the delegation met with Shokri Mohamed Ghanem, Chairman of the Management Committee of the Libyan National Oil Corporation. Algeria invites bids for oil exploration Monday, July 14, 2008 Opec member Algeria, unveiling details of its seventh exploration and production licensing round, invited prequalified companies on Sunday to bid for acreage with what it called high potential for petroleum resources. Interpipe launch new anti-corrosive coating line for oil and gas pipes Monday, July 14, 2008 Leading steel pipe and railway wheels producer Interpipe has announced the opening of a new production line at Interpipe NMPP mill. The new line gives Interpipe the capacity to produce pipes with an external anti-corrosive 3-layer coating for both seamless and welded pipes up to 530 mm for oil and gas transportation. Total investment in the project has reached USD $8.5 million. Successful Appraisal Well Results For Kosmos Energy, Offshore Ghana Monday, July 14, 2008 Kosmos Energy has conducted a second drillstem test of the Mahogany-2 appraisal well in the Jubilee Field offshore the Republic of Ghana. The well tested at a flow rate of 4,448 barrels of oil per day (BOPD) of 39-degree API gravity crude and approximately 5.1 million cubic feet per day of associated natural gas on a 36/64-inch choke with a flowing tubing pressure of 1,936 pounds per square inch during a second drillstem test. Baghdad sets up new oil player Monday, June 30, 2008 The Iraqi government said it is setting up a new oil company in the south-eastern province of Maysan with the goal of more than tripling oil production in the region in the next five years. Petroceltic Announces US$55 Million Cash Investment And Strategic Alliance With Iberdrola Monday, June 30, 2008 Petroceltic International plc announces that it has entered into a strategic alliance and financing arrangements with Iberdrola, to develop the Company’s oil and gas assets in North Africa and Italy Mart Resources Announces First Export & Sale Of Crude Oil From Umusadege Field, Nigeria Monday, June 30, 2008 Mart Resources, Inc. and its partners Midwestern Oil and Gas Company PLC (Operator) and Suntrust Oil Company Nigeria Limited announce their first crude oil export from the Umusadege field, located onshore Nigeria. Kuwait's crude oil exports to Japan up 24 percent Monday, June 30, 2008 Japan's crude oil imports from Kuwait jumped 24.0 percent in May from a year earlier to 10.42 million barrels for the fourth straight month of expansion, according to the report released Monday by the government agency. OMV participates in additional exploration license in Norway Monday, June 30, 2008 OMV Aktiengesellschaft, the leading oil and gas group in Central Europe, strengthens its E&P position in the core region Northwestern Europe by acquiring a 30% interest in the exploration license PL 301CS in Norway from the Canadian company Talisman and the Danish company DONG. Crescent signs MoU with India's Reliance for oil hunt Wednesday, June 25, 2008 Reliance Industries Limited (RIL), India's largest industrial conglomerate, on Monday signed a memorandum of understanding (MoU) with Sharjah-based Crescent Petro-leum, to begin joint exploration for oil and gas in the region. OPEC President Sees No Easing of Oil Prices Wednesday, June 25, 2008 World oil prices will not come down and oil producers have done what they could to ensure supply, the Organization of Petroleum Exporting Countries (OPEC) president said. Eni Makes Major Gas Discovery in Pakistan Wednesday, June 25, 2008 Eni has made a new onshore gas discovery in Pakistan with the Saqib 1A well, located in the Mubarak exploration block, in the South Eastern province of Sindh. Saudi Arabia Boosts Production by 200,000 b/d at OPEC Meeting Wednesday, June 25, 2008 An emergency meeting among ministers of oil exporting countries in Jeddah, Saudi Arabia, had little impact, analysts said. Iraq Accepts 6 More Firms to Bid for Oil Deals Wednesday, June 25, 2008 Iraq has accepted six state-owned oil firms to compete for future oil and gas contracts, bringing the number of companies eligible to 41, an Iraqi oil industry source said. Gasol Completes Acquisition of African LNG Wednesday, June 25, 2008 Gasol Plc, (AIM:GAS) announces that all the resolutions regarding the reverse takeover of African LNG Holdings Limited ("African LNG") proposed at the Extraordinary General Meeting held were passed. Apache Completes Initial Damage Assessment and Estimates Timetable for Re-Establishing Production at Varanus Island Western Australia Wednesday, June 25, 2008 Apache Northwest Pty Ltd, a subsidiary of Apache Corporation (NYSE, Nasdaq: APA), said today it has completed an initial assessment of damage at its Varanus Island processing hub and a timetable for restoring production. Oxy Signs 30-Year Agreement with Libya to Triple Production Tuesday, June 24, 2008 Occidental Petroleum Corporation announced the signing of the full 30-year agreements with the Libyan National Oil Company (NOC) to upgrade its existing petroleum contracts. Eni and NOC Sign New Petroleum Contracts Sunday, June 15, 2008 Eni and NOC signed the six contracts of Exploration and Production Sharing (EPSA IV) that convert the original agreements that ruled oil and gas activity of Eni in the country. Contracts have been renewed for 25 years from January 2008. The new expiry dates set by the agreement are 2042 for production of oil and 2047 for gas. Oil hits $136 after fall in US stockpile Thursday, June 12, 2008 Oil veered wildly yesterday, as it swung back from a spike higher on a sharp fall in US crude oil stocks shown in weekly data. Kuwait and Iran cut price of heavy crude exports Thursday, June 12, 2008 Kuwait and Iran joined Saudi Arabia in slashing the price of their heavy crude exports to the deepest discounts in at least nine years, seeming to support Opec's view that the world has enough of its supplies. OPEC Calls Consumer-Producer Oil Meeting in Jeddah on June 22 Thursday, June 12, 2008 A major meeting of oil consuming and producing nations will be held June 22 in Saudi Arabia's port city of Jeddah to address growing alarm over skyrocketing oil prices, Organization of Petroleum Exporting Countries Secretary General Abdalla Salem el-Badri said Tuesday. Iraq Eying First Field Tenders in June or Early July Thursday, June 12, 2008 The Iraqi oil ministry is planning to announce the first round of tenders to develop its vast oil fields, which are among the world's largest, at the end of June or the beginning of July, an Iraqi oil official said Monday. Caracas lukewarm over Jeddah talks Thursday, June 12, 2008 Venezuela's Oil Minister Rafael Ramirez said the upcoming meeting of oil producers and consumers in Jeddah, Saudi Arabia, will not yield an agreement to change oil production levels. Abu Dhabi will raise daily gas output to 10b cubic feet Wednesday, June 11, 2008 Abu Dhabi National Oil Company (Adnoc) will announce the final $10 billion contract for the treatment of sour gas at the Shah field within a month or two, officials said on Tuesday. Gulf refining capacity to touch 10m bpd by 2015 Tuesday, June 10, 2008 The Gulf region's refining capacity will grow by about 3 million barrels per day (bpd) to about 10 million bpd by 2015 to help meet the region's burgeoning demand for oil products, said a senior executive of Saudi Aramco. GE wins $1bn gas turbine deal in Algeria Tuesday, June 10, 2008 General Electric has won a contract worth nearly $1bn to supply Algeria with gas turbines for power stations in the latest sign of the growing popularity of gas-fired power generation. G8 and Asian powers seek increase in oil production Monday, June 9, 2008 Eleven nations that guzzle nearly two-thirds of the world's energy called on Sunday for an urgent hike in global oil production as host Japan warned the world could plunge into recession. Sudan seeks arbitration over oil rift Monday, June 9, 2008 Sudan's president and southern Sudan's leader said they would turn to international arbitrators to solve a bitter dispute over an oil-rich region that many fear could escalate into civil war. Gazprom reveals Alaska pipe dream Monday, June 9, 2008 Russian gas export monopoly Gazprom wants to join a gas pipeline project in Alaska and has already made a proposal to BP and ConocoPhillips, its chief executive. Interpipe NTRP to build 1st environmentally friendly pipe coating line in Ukraine Sunday, June 8, 2008 As part of its ongoing strategic investment program, leading tubular wheel company, Interpipe today announced the launch of its project to build a pipe coating line based at Interpipe NTRP. The planned production capacity of the line is 250 thousand tons (of pipes) per year and is the first of this size in Ukraine. Schlumberger, Maersk beat record Sunday, June 8, 2008 Oilfield services giant Schlumberger and the Qatar arm of Denmark's Maersk Oil teamed up to drill the longest well in the world – in the Al Shaheen field offshore Qatar. Aminex receives new acreage award in Tanzania Monday, June 2, 2008 Aminex PLC, the oil and gas company listed in London and Dublin announced the award of a further Production Sharing Agreement (PSA) in Tanzania. Putin warned BP about Russia risks Sunday, June 1, 2008 Russia's Prime Minister Vladimir Putin said he had warned BP about the risks of setting up a venture with a group of Russian billionaires when he blessed its creation as president in 2003. Iranian gas supplies to Turkey resume after pipeline blast Sunday, June 1, 2008 Iran said it has resumed supplying natural gas to Turkey five days after an explosion damaged a pipeline between the two countries, state media reported. Oil India Joins Sonatrach to acquire 4 Blocks in Libya Sunday, June 1, 2008 Oil India Limited has recently signed an Exploration and Production Sharing Agreement with the National Oil Corporation of Libya, along with its consortium partners Sonatrach, the National Oil Company of Algeria and another Oil PSU, Indian Oil Corporation to acquire four exploration blocks in Libya. Gaz de France, Hoegh Partner for the Triton Offshore LNG Project Sunday, June 1, 2008 Gaz de France and Hoegh LNG AS have signed a Joint Development Agreement related to the design, the construction supervision and the operation of a vessel used as a Floating Storage and Regasification Unit (FSRU-