Archive | June, 2012

Putin meets with oil head honchos to promote oil investment in Russia

Russia lures more foreign investors to its energy sector while attempting to extend clout on foreign energy assets.

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Encana intensifies shale oil exploration in Michigan

Encana sees potential in Northern Michigan’s shale oil deposits and expands drilling operations despite Chesapeake’s pessimism.

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GOM oil blocks seen to attract numerous bids

Various sectors say the Central GOM oil block bid will fetch quality bids from major operators. Deep water blocks seen to get prime bids.

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OPEC keeps oil ceiling but may tap Saudi if current crude oil prices drop

OPEC decided to maintain its $30 million bpd oil production ceiling but will have to cut supply to keep it from exceeding the quota.

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Seadrill expands drillships amid low current crude oil prices

Billionaire John Fredriksen says that oil deposits beneath the sea are more than enough to feed the ever-growing global demand for crude.

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Venezuela needs more oil investment to unleash vast reserves

The Latin American country has the highest oil reserves but experts say they are insignificant without new exploration investment

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