The Shell Petroleum Development Company of Nigeria Limited (SPDC) on Friday, agreed to transfer its interest in three production licences and related equipment in the Niger Delta to a consortium led by two Nigerian companies.
The Petroleum Ministry has sought oil bonds worth Rs 11,853 crore for state-run fuel retailers to make up for the losses they incurred on selling domestic LPG and kerosene below cost during the first half of the current fiscal.
A consortium grouping U.S. and European oil giants Exxon Mobil Corp. and Royal Dutch Shell PLC on Thursday signed a $50 billion deal to develop one of Iraq’s most prized oil fields, as the OPEC nation looks to revamp its battered energy sector.
Americans are paying more for gasoline than they did last year as the holidays approached — billions of dollars that could go to books, clothes and Barbie dolls instead being spent at the pump.
Oil and gas company Quicksilver Resources expects oil and gas production can reach 20 percent in 2010. Currently the company has increased production to reach 340 mmcfe per day, compared with production in the third quarter production of 311 mmcfe per day. Production growth driven by the improvement of the Barnett...
Oil and natural gas company Ultra Petroleum Corp reported an adjusted profit in the third quarter that beat estimates, helped by increased production.
For the quarter, loss was $8.3 million, or 6 cents a share, compared with net income of $149 million, or 95 cents a share, a year earlier. Excluding items, the company reported net income of 57 cents a share.
Independent oil and gas producer Berry Petroleum Co (BRY.N) reported better-than-expected third-quarter profit, helped by lower expenses. For the third quarter, the company reported net income of $19 million, or 41 cents a share, compared with net income of $53.3 million, or $1.16 a share, a year ago.
Northern Oil and Gas, Inc. today reported net income of $1,588,246, or $0.04 per share for the quarter ended September 30, 2009.
THIRD QUARTER 2009 HIGHLIGHTS
Northern Oil sold 86,206 barrels of oil and 14.6 mmcf of natural gas during the third quarter of 2009 with oil and natural gas revenues of $5,146,972.
