Who is most responsible for world oil production, governments or private investors

Tuesday, November 3rd, 2009

Although investor-owned oil companies are often thought of as those most responsible for world oil production, government-controlled companies actually control the majority of both current production (more than 52% in ...


WesternGeco Commences New Wide-Azimuth Q-Marine Surveys in the Gulf of Mexico

Wednesday, October 14th, 2009

E-Octopus VIII and IX Multiclient Surveys Bring Latest-Generation Processing to Library WesternGeco announced today it began acquisition of the E-Octopus VIII and E-Octopus IX surveys in September. Located in the highly ...


Sercel Announces a Major Award for its Unite Cable-free Acquisition System in Mexico

Thursday, June 25th, 2009

CGGVeritas (ISIN: 0000120164 – NYSE: CGV) announced today that its subsidiary Sercel has been awarded a contract by Compania Mexicana de Exploraciones S.A de C.V. (Comesa) for the purchase of ...


Hampson-Russell Opens Mexico Office to Expand Global Support

Wednesday, June 10th, 2009

Hampson-Russell Software & Services, a CGGVeritas Company, announced today the opening of a new technical support office in Villahermosa, Mexico. A resident team of experienced geophysicists will provide onsite support for ...


Oil News from around the web, $50 per barrel is too low for continued investment;Nigeria-Europe gas pipeline sparks fresh interest

Thursday, April 30th, 2009

))))) The Organisation of Petroleum Exporting Countries (OPEC) has warned that the current crude oil price, which hovers around $50 per barrel is too low for continued investment. The 12 member ...


Oil News from around the web, PetroChina posted a 36.2% fall in first-quarter earnings ; BP reported a 62% fall in first-quarter net profit

Tuesday, April 28th, 2009

)))))Oil prices fell below $49 on Tuesday, extending Monday's losses as declines on global stock markets heightened expectations of a further drop in demand for oil products. US oil futures fell ...


OCEANTEAM ASA and ABB High Voltage AB transfer contracts

Wednesday, April 15th, 2009

Oceanteam ASA and its subsidiaries (''Oceanteam'' or ''the Company'') have on 14 April 2009 entered into a contract transfer agreement with ABB High Voltage AB (''ABB'') on the offshore power ...


Oil Newsbite, 03/12, $4 687-million-U.S. dollar investment by Pemex, Nigeria to struggle in 2009

Thursday, March 12th, 2009

Venezuela will propose a new oil output cut at the upcoming OPEC's meeting in Vienna, an official source said Wednesday. President of the Permanent Energy Commission of the Venezuelan National Assembly, ...


OCEANTEAM ASA concludes transaction in Mexico

Thursday, April 17th, 2008

Oceanteam ASA announced today that it has received approval from the Mexican Foreign Investments Commission to complete the purchase of 90% of the shares within Compania Naviera de Transporte Maritimo, ...


Eni acquires 32 new exploration licenses in US Gulf of Mexico

Friday, March 21st, 2008

San Donato Milanese (Milan), March 21, 2008 - Eni has been awarded 32 new exploration licenses in the US Gulf of Mexico (GoM) at Lease Sales 206 and 224, held ...


Petrobras was the highest bidder for 22 blocks in the US Gulf of Mexico Lease Sale

Thursday, March 20th, 2008

(Rio de Janeiro, March 19, 2008). – PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company  was the highest bidder for ...


Uplift of 103% on Mexico contracts

Tuesday, February 12th, 2008

Prosafe has been awarded a Letter of Intent by Interpetroleum Services Limited in association with Ocean Oil Construction and Services Ltd for the five accommodation/ service rigs Safe Britannia, Safe ...


Rowan to Resume Ultra Deep Gas Drilling Programs in Gulf of Mexico

Tuesday, February 12th, 2008

HOUSTON--(BUSINESS WIRE)--Rowan Companies, Inc. (NYSE:RDC) announced today that it has entered into a multi-well contract with McMoRan Oil & Gas Corporation LLC that includes re-entering the Blackbeard Prospect. The Gorilla IV ...