News

British Columbia Bans Oil and Gas Exploration in Sacred Headwaters

British Colombia banned oil and gas exploration in the province’s Sacred Headwaters and stopped offering oil and gas leases.

Platform Arrives in Cuba for Oil Exploration

A new platform recently arrived in Cuba’s offshore area for a new oil exploration project.

Honduras and BG Group Signed Oil and Gas Exploration Memorandum

Honduras partners with BG Group on an oil and gas exploration program in the Honduran area that is potentially rich in hydrocarbons.

Current Gasoline Prices in Tulsa Fall below $3

Drivers in Tulsa welcomed a pre-Christmas surprise at the pump as prices in the area are already below $3.

Oil Drilling and Exploration Continues to be a Success by TOTAL

France-based oil giant, Total S.A., keeps on achieving success in its oil drilling and oil exploration activities.

Brent Crude Price Drops with Weak Eurozone Retail Data

Brent dropped below $109 on weak eurozone retail data and the poor U.S. job numbers and an increase in the stocks of refined products.

Petrobas Postpones Oil Drilling Plans in New Zealand

Petrobas announced that it had postponed its oil drilling plans in New Zealand’s off coast.

Natchez Request Delay of Hearing for Approval of Arlington Oil Exploration

The city of Natchez is set to request a delay of the hearing for the possible approval of oil exploration in Arlington.

Woodside Petroleum to Focus on Oil and Gas Exploration in Myanmar

Perth-based Woodside Petroleum ruled out oil and gas exploration in East Africa and will focus instead in less expensive countries like Myanmar.

Current Oil Prices Drop with New Economic Strains

Current crude oil prices fall with new economic strains caused by France’s ratings downgrade and worries on Middle Eastern supplies due to Gaza-Israel tensions.

Lundberg Survey – Current Gasoline Price in the US Reflects a Two-Week Drop

The current gasoline price average in the United States reflects a drop in the last two weeks according to the latest Lundberg Survey.

Afren plans to drill and explore for oil in East Africa

Afren plans to drill and explore for oil in 13 blocks located in East Africa in the next 18 to 24 months.

Current Oil Prices Move above $85

The current price of oil move higher than $85 with the on-going volatility after the election.

Current Oil Prices Modestly Rise Prior to US Election and Chinese Power Shift

The current price of oil reflects a slight increase before the elections in the US and a threatening power change in China.

Lower Gasoline Price Average may Reverse with Hurricane Sandy

The lower prices of gasoline today may start to increase because of Hurricane Sandy.

Gasoline Prices are Falling Nationwide

The prices of gasoline nationwide are falling, a good thing prior to the highly travelled thanksgiving holiday.

Public Consent to Offshore Oil Exploration in New Zealand Opposed

The chief executive of New Zealand’s oil industry says that public consent should not be required for oil exploration in its Exclusive Economic Zone.

Current Crude Oil Price Mixed in Calm Trading

Analysts say that the mixed prices in the current crude oil prices are due to positive economic data along with weak world demand projections.

World Bank Warning Pulls Current Oil Prices to Two-Month Low

The warning of the World Bank of Asia’s further slowdown pulled the current price of oil lower to its lowest settlement in two months.

Shell Starts Beaufort Sea Oil Drilling

Royal Dutch Shell Plc starts drilling in its Beaufort Sea prospect in Northern Alaska.

Rising Gasoline Prices Today may Soon End in Syracuse, New York

Gasoline in the Syracuse area and in other metropolitan areas in New York is increasing. But, that may already end soon.

Current Gasoline Price Rises in California Start to Stabilize

The expected price increases in gasoline after the Aug 6 fire at Chevron’s Richmond refinery seemed to have stabilized.

Drop in Current Gasoline Prices Expected in Final Quarter of 2012

The current gasoline prices are expected to drop in the last three months of the present year.

Weaker Chinese Demand Pushes Current Oil Prices Lower

Data showing that fuel demand in China is weakening pushed the current oil prices lower.

OPEC – Oil Market is Well Supplied despite Oil Price Worries

OPEC’s secretary general said that the market has sufficient crude supplies despite fears and worries on the high oil prices today.

Dutch Royal Shell to End Arctic Offshore Oil Drilling this Year

Royal Dutch Shell made an announcement that it is ending its offshore oil exploration this year after it destroyed an oil spill containment structure.

New Stimulus from Fed Pushes Current Brent Price to $117

The current price of Brent moves closer to $117 per barrel due to the Fed Reserve’s announcement of new economic stimulus.

Survey – Current Gasoline Prices Head to Highest Level this Year

The Lundberg survey shows that the current gasoline price average of the United States is headed to its highest level for 2012.

Current Gasoline Prices may be the Worst for 2012

The current gasoline prices for the Labor Day may be the worst for the year. But, some relief may be expected about 100 days from now.

Trade Journal Report Pushed Current Oil Prices Lower

The report from a trade journal saying that countries in the West may release strategic oil reserves led the current oil prices to decline.