tag:blogger.com,1999:blog-61657682476224176402010-01-01T16:58:48.187-05:00Updated news and data on oil, oil industry, oil companies, oil leaders, peak oil, oil prices ...Garynoreply@blogger.comBlogger116125tag:blogger.com,1999:blog-6165768247622417640.post-88053201341350423442009-10-05T23:46:00.000-04:002009-10-05T23:48:05.332-04:00

A growing number of nations are negotiating to drop the use of the U.S. dollar as the currency used to trade oil, which originally would be replaced by a basketfull of currencies, and over the long haul an as yet undetermined currency.Inluded in the countries currently negotiating are France, the Arab states, Japan, China, Russia, and Brazil. India may eventually get on board as well, making it a

Garynoreply@blogger.com2tag:blogger.com,1999:blog-6165768247622417640.post-76535228107624774642009-09-26T15:41:00.001-04:002009-09-26T15:42:55.816-04:00

Norway OilHaving explored the majority of its Norwegian shelf, Norway is looking to other more remote regions in order to remain a major player in the oil industry, which has largely paid for the welfare nation's lifestyle.One area they're looking toward is a volcanic island in the Arctic with the strange name of Jan Mayen, which was at one time supposedly called the 'Gates of Hell,' based on the

Garynoreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-63428081657504094782009-09-09T15:12:00.000-04:002009-09-09T15:14:18.004-04:00

Brazil continues to increase its reputation as a major player in the oil business, discovering another major oil field, with estimates of up to two billion barrels of oil able to be recovered from it.This oil discovery is called Guara, and is the result of the new techniques being used which can find oil under the salty sea bottom, which were undiscoverable before.Estimates in the overall region

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-35397095134709455432009-09-07T19:10:00.001-04:002009-09-07T19:13:05.154-04:00

Oil Exploration and DrillingIt's extraordinary that countries around the world are drilling and pursuing oil, with the exception of off the coasts of America and within its borders as well, where billion's of barrels are sitting there because of the far left environmental activists pressuring Democrats, who refuse to ignore them and open up our land and coasts to the billions of barrels of oil

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-16506181288670108802009-09-02T14:49:00.002-04:002009-09-02T14:51:42.278-04:00

Oil Discovery BPDrilling down to over 35,000 feet, BP Plc made a significant oil discovery in the Gulf of Mexico at the Tiper Prospect, with an estimate of over 3 billion barrels of oil found there.The 35,000 plus foot drill is the deepest exploration well in history.It is expected to be in production during the latter part of the next decade, and help BP bring oil production to about 600,000

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-150169540121904272009-08-08T23:24:00.001-04:002009-08-08T23:26:41.728-04:00

In what is at this time only being identified as a major oil discovery, Chevron announced that the find off Angola's shores still needs to be confirmed by further drilling, but the prospects of a significant oil field are pretty much ensured; it's only a matter of how much oil the field holds, which in cases like this are usually considered over 500 million barrels.The oil and natural gas field

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com2tag:blogger.com,1999:blog-6165768247622417640.post-16516254850874847302009-07-28T17:10:00.002-04:002009-07-28T17:13:53.960-04:00

Government Interference in Oil MarketsSomehow the Commodity Futures Trading Commission, which has always said it has never found a correlation between speculation and oil price swings, has suddenly got regulation religion, and now says it's ready to go before Congress and 'admit' speculators are playing a huge role in price runups. This is plain evil, and an investigation needs to be conducted on

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-48218506531753183022009-06-04T15:26:00.002-04:002009-06-04T15:29:47.290-04:00

Oil Business and NewsDeclining consumer demand has taken a toll on many in the oil and gas industry. Reports the oil refiner Valero Energy is expecting a second quarter loss because of the lackluster demand.Earlier in the year when the price of oil settled near $35 per barrel many oil and gas services companies had to forgo new investments because of the low price and weak demand. Oil is now

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-36606093469287974142009-02-19T17:46:00.001-05:002009-02-19T17:49:15.030-05:00

It's sometimes hard to look at all the nonsense being perpetuated by people with agendas, as it seems there's almost nothing important any more that isn't politicized in some way, and so ultimately lied about. Gold is one of those things, and another major one, which I want to talk about is peak oil.So by definition, what is peak oil? It simply means that oil that was relatively easy to reach and

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com3tag:blogger.com,1999:blog-6165768247622417640.post-31844061052665795572009-02-10T00:04:00.001-05:002009-02-10T00:09:55.688-05:00

The oil and gas industry continues to struggle as overall demand continues to decline. That has of course, as far as oil demand goes, created the current contango or super contango situation which has resulted in a great chance to make safe money through oil investment.Even though oil and gas companies will have some short term difficulty and challenges, as the economic circumstances continue to

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com1tag:blogger.com,1999:blog-6165768247622417640.post-7747076521107132702009-02-06T15:23:00.001-05:002009-02-06T15:25:42.630-05:00

The super contango arbitrage remains in play for investors as oil continues to be stored on supertankers in anticipation of prices rising.Oil companies are still building up vast floating reserves of unsold crude oil on supertankers at sea because oil for immediate delivery is much cheaper than futures prices, traders and shipping brokers said on Friday.The stockpile, mostly on Very Large Crude

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com1tag:blogger.com,1999:blog-6165768247622417640.post-29630573279232495092009-02-06T15:18:00.001-05:002009-02-06T15:20:58.530-05:00

Now that oil futures prices have traded above the $40 mark for a couple weeks, some are concluding that the bottom may have finally been reached for the black gold.After hitting a four-year low of $32.40 a barrel on Dec. 19, oil has now rebounded more than 20%. While occasionally falling below $40 in intraday trading, it has closed above $40 everyday since Jan. 20. Similarly, national average

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-8036564336078002112009-02-03T18:40:00.001-05:002009-02-03T18:43:41.225-05:00

Union negotiators for oil refinery workers have tentatively agreed to a new contract which represents approximately 24,000 union members.The new contract deals with labor issues like wage and benefit levels, which the details of the agreement weren't released. If there had been a strike, it would have affected up to 10 percent of the overall refining capacity in America's oil industry. Other

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-88133341388333613892009-01-27T17:41:00.001-05:002009-01-27T17:43:38.584-05:00

What to the names Gasprom, Statoil and Petrobras have in common? They're all state-owned oil and natural gas energy companies that have a lot of upside potential for oil investors.When you consider the national monopolies represented by state-owned oil & gas companies, you realize the great potential an energy investor has, assuming they do their homework, as not all nationalized oil companies

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-47006941967663459892009-01-25T13:41:00.001-05:002009-01-25T13:44:22.143-05:00

OPEC countries are under increasing pressure to cut oil production as oil prices aren't able to prop up the many countries so reliant on higher prices to take care of their needs.It's not a stretch to say the leaders of oil producing countries will have their hands full as people start to get edgy over consequences of low prices.In reality, there's not much OPEC and other oil producing countries

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-73224062810534101712009-01-20T16:36:00.003-05:002009-01-20T16:43:03.205-05:00

Marathon Oil Corp. said Tuesday its oil and natural gas production in the fourth quarter was likely at the low end of its previous guidance range, in part from pipeline issues overseas and continued disruptions linked to last summer's hurricanes in the Gulf of Mexico.The Houston-based company estimated its liquid hydrocarbon and natural gas production available for sale during October-December

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-23726159725540520642009-01-16T18:32:00.000-05:002009-01-16T18:39:55.687-05:00

The good news for Brazil's government-run company Petrobras (PZE), is overall its output increased by 4.3 percent in 2008 in contrast to output in 2007. The bad news is their international oil and gas production both fell.Considering today's economic climate, it still isn't a bad performance.On the domestic side, which is where the major production of the company comes from, oil and gas

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-8466586852086054702009-01-15T23:00:00.000-05:002009-01-15T23:02:48.305-05:00

PHILADELPHIA--(BUSINESS WIRE)-- Sunoco, Inc. (NYSE:SUN) said today that it will release earnings for the fourth quarter of 2008 on Wednesday evening, February 4, 2009. The Company will hold a conference call on Thursday, February 5, 2009 at 3:00 p.m. ET to discuss its fourth quarter results. Those wishing to listen can access the call through Sunoco's website at www.SunocoInc.com. A replay will

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-31327981354849589222009-01-15T22:55:00.000-05:002009-01-15T22:57:23.463-05:00

At 07.00 GMT (08.00 CET and 02.00 EST) on Thursday 29 January, 2009 Royal Dutch Shell plc will release its fourth quarter and full year results and fourth quarter interim dividend announcement for 2008.

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-22144861778040527422009-01-15T22:51:00.000-05:002009-01-15T22:53:40.746-05:00

EL DORADO, Arkansas, January 7, 2009 – Murphy Oil Corporation (NYSE:MUR) has scheduled its conference call at 12:00 p.m. Central Time on Thursday, January 29 to review fourth quarter 2008 earnings, which will be announced Wednesday afternoon, January 28. ACT Teleconferencing is handling arrangements for the call. Interested parties may participate by dialing 1-800-240-2430 and referencing

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-72530773792741076362009-01-15T22:47:00.000-05:002009-01-15T22:50:37.970-05:00

HOUSTON, Jan. 13 /PRNewswire-FirstCall/ -- Marathon Oil Corporation (NYSE: MRO) today is providing information on market factors and operating conditions that occurred during the fourth quarter of 2008 that could impact the Company's quarterly financial results. The market indicators and Company estimates noted below and in the attached schedule may differ significantly from actual results. The

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-45262475957534343962009-01-15T22:38:00.000-05:002009-01-15T22:42:23.510-05:00

HOUSTON, Jan 15, 2009 (BUSINESS WIRE) -- Frontier Oil Corporation (NYSE: FTO) plans to announce results for the quarter ended December 31, 2008 on Thursday, February 26, 2009. Management has scheduled a conference call for the morning of February 26th at 11:00 a.m. ET to discuss the financial results and business outlook. To access the call, which is open to the public, please dial (888) 211-0226

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-60406016455540448002009-01-15T22:28:00.000-05:002009-01-15T22:31:33.649-05:00

HOUSTON, Jan. 12 /PRNewswire-FirstCall/ -- Cabot Oil & Gas (NYSE: COG) will release its year-end 2008 financial and operating results on Thursday, February 12, 2009.A conference call with investors, analysts and other interested parties is scheduled for 9:30 a.m. EST (8:30 a.m. CST, 7:30 a.m. MST, 6:30 a.m. PST) on Friday, February 13, 2009 to discuss fourth quarter 2008 operating results. You

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0tag:blogger.com,1999:blog-6165768247622417640.post-80657921980345420832009-01-15T22:23:00.000-05:002009-01-15T22:26:34.744-05:00

Release date: 15 January 2009 BP today announced that the shareholders in TNK-BP have agreed to appoint three independent directors, including former chancellor of the Federal Republic of Germany, Gerhard Schroeder, to the restructured main board of TNK-BP. His fellow independents will be James Leng, the chairman designate of Rio Tinto, and Alexander Shokhin, president of the Russian Union of

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com5tag:blogger.com,1999:blog-6165768247622417640.post-22301275550384133662009-01-15T17:43:00.000-05:002009-01-15T17:45:07.605-05:00

There's no doubt Hugo Chavez is mildly tolerated by the people of Venezuela, as he's taken the money from the oil industry he nationalized and redistributed it to the healthcare and education systems in the country.Now that oil prices have plummeted, and Chavez is attempting to change the terms of being in office, he's pushing hard for oil production cuts from OPEC in order to push up the price

Allenhttp://www.blogger.com/profile/14571642682593525295noreply@blogger.com0