Noreco boosts lending base

09 May 2008 10:57 GMT

Norwegian explorer Noreco said today it would redeem a $130 million bond to cut funding costs and agreed with banks to expand an existing reserve lending facility to $325 million.

Osaka buys more North West Shelf gas

09 May 2008 10:49 GMT

Japan's Osaka Gas has sealed a six-year deal - starting in April next year - with Australia's North West Shelf Liquefied Natural Gas venture partners for about 500,000 tonnes of LNG per annum.

Lula flags up Carioca date

09 May 2008 10:31 GMT

Brazil aims to bring the potentially massive Carioca field on stream in 2010, President Luiz Inacio Lula da Silva said today, adding that the country wants to join Opec.

Chevron poised to wield jobs axe

09 May 2008 09:11 GMT

Chevron said in a regulatory filing that after implementing a restructuring plan last year, about 1100 employees were eligible for severance payments, with the US supermajor adding that it is poised to make a slew of job cuts.

Mendoza hands out E&P prizes

09 May 2008 09:01 GMT

Argentina's Mendoza province has handed out 11 exploration blocks, saying that the awards will pump $291 million into the region's economy.

Strong dollar smacks RXT

09 May 2008 07:34 GMT

Norway’s Reservoir Exploration Technology (RXT) slid deeper into the red in its first quarter results as it was hit by foreign exchange losses, the company said.

PA hits record sales price

09 May 2008 07:34 GMT

Swedish explorer PA Resources’ total oil production hit 334,000 barrels last month and hit a record sales price of over $100 per barrel.

Gas Natural powers up profits

09 May 2008 07:23 GMT

Spanish energy company Gas Natural has booked a 10.2% rise in first quarter net profit, coming in at €335.8 million ($515 million).

Indonesia 'plans oil independence by 2010'

09 May 2008 06:45 GMT

Indonesia plans to boost the country’s ailing oil production to allow it to become self-sufficient by 2010, local media reported.

Bourbon’s revenues swell on Africa

09 May 2008 06:17 GMT

French offshore services giant Bourbon’s first quarter revenues are up 21.4% over the same period last year to €211.7 million ($326.6 million), primarily due to charters in the offshore division and strong growth in Africa.

Petrotrin output unaffected by strike

09 May 2008 05:47 GMT

Trinidad and Tobago's state-owned oil company Petrotrin said today that an "illegal industrial action" by its employees had not resulted in shortages and it would be able to satisfy all contractual commitments.

Sandridge sees deep red on hedging

09 May 2008 05:32 GMT

Sandridge Energy, the subject of a high-profile listing last year, plunged deeper into the red in the first quarter on hedging losses, despite sharply higher production numbers.

BG and Origin keep talking

09 May 2008 04:56 GMT

UK-based BG Group said talks with Australian gas producer and energy retailer Origin Energy were continuing but had so far been inconclusive.

Kodiak claws back losses

09 May 2008 04:25 GMT

Denver minnow Kodiak Oil & Gas trimmed its losses in the first quarter, compared with the first quarter of 2007, when it was hit by $14 million in impairment charges on the value of its oil and gas properties.

Citarum partners pay up

09 May 2008 04:24 GMT

UK listed Sound Oil is set to push on with this year's seismic shoot over the Citarum onshore block in Indonesia’s West Java province after its partners in the contract area paid back their default to the tune of $5.864 million plus interest and costs.

Kutei plan decision due soon

Indonesia's Ministry of Energy & Mineral Resources will "very soon" approve Chevron's development plan for its Kutei basin gas project, comprising five deep-water fields that will produce feedstock for the Bontang liquefied natural gas project.

Iran aims high

09 May 2008 02:39 GMT

Iran is working hard to push forward the Iran LNG-Phase 12 project, despite hold-ups at two other Iranian integrated liquefied natural gas schemes proposed by Total and a Shell-Repsol YPF team-up.

Duster for Bow’s Donga-4

09 May 2008 02:22 GMT

Bow Energy is suspending the Donga-4 well in Australia’s Surat basin permit ATP 805P after a completion and swab test failed to show hydrocarbons despite a small recovery of oil from a test when the well was initially drilled in 2006.

Maui gas reserves shored up

09 May 2008 01:57 GMT

New Zealand’s Contact Energy said today that the Maui joint venture led by Shell has shored up 58.4 billion cubic feet (62 petajoule) of Maui natural gas reserves.

Samson drops Oklahoma fields

09 May 2008 01:10 GMT

Australia-listed Samson Oil & Gas has sold stakes in two properties in the Amber field, in Grady County, Oklahoma, including nine producing wells, for $4.8 million, it said today.

Red Fork bites in Oklahoma

09 May 2008 00:56 GMT

Perth-based Red Fork Energy said the Redfork 1-18 well had spudded on the Osage project in Oklahoma, targeting oil in Tyner and Wilcox sands to a depth of 2300 feet.

Blue Energy sees bright future

09 May 2008 00:47 GMT

Coalbed methane player Blue Energy said it press ahead with exploration drilling on its ATP 817P licence in Queensland after striking almost five metres of coal pay in its Azure-1 core hole.

Anzon says pushed out of merger

09 May 2008 00:44 GMT

Anzon Australia’s managing director refutes claims of disappointing reserves results at the Basker Manta Gummy project off Australia as preposterous and remains miffed after Nexus Energy pushed the outfit out of a recently proposed merger.

Canadian Natural opens profits taps

09 May 2008 00:25 GMT

First-quarter profit at Canadian Natural Resources jumped 170% as surging oil prices more than made up for lower production, the company said.

Innamincka fishing at Crocus South

09 May 2008 00:10 GMT

Brisbane-based Innamincka Petroleum said it was working to free stuck pipe in its Crocus South-1 well on Petroleum Exploration Licence 101 near Moomba in South Australia.