Mining Companies Exploration and Investment News

Magellan Petroleum Corporation has completed a Montana oil acquisition and provides commercial updates on Australian and European activities.

The Company has acquired an 83.5% controlling interest in Nautilus Poplar, LLC (Nautilus). Nautilus, based in Denver, Colorado, owns and operates oil development assets in Roosevelt County, Montana known as the East Poplar Unit and the Northwest Poplar field. (continue reading…)

Crude oil prices increase in this week, worrying economists will slow global economic recovery. However, different conditions gasoline prices decline. Department of Energy survey results at filling stations in California average gasoline prices dropped during the week.

Oil prices futures inching toward $75 a barrel, analysts said the retail gasoline declines may be very short-lived.
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Oil and Natural Gas Corporation, together with members consortia has won 17 blocks for oil and gas exploration of 25 blocks on offer. The last bid was won by the Oil and Natural Gas Corporation, acquired on October 12.

The bid was won by the Oil and Natural Gas deepsea seven blocks, ONGC will conduct exploration on 5 oil and gas blocks, 1 block ONGC as operator with Oil India and 1 exploration blocks will be done with BG Group.
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Oil rose by more than $1 a barrel to a six-week high above $73 on Monday, supported by optimism about the pace of global economic recovery and indications of stronger oil demand.

Crude gained 2.6 percent last week, bolstered by a falling dollar. The International Energy Agency raised its oil demand forecasts and a Reuters survey showed Chinese refineries will keep crude processing at record levels in October. (continue reading…)

The banking sector, which had a dismal 2008, has jumped 171 percent since the market reached a floor in early March, outpacing the FTSEuro first 300, which is up 56 percent over the same period.

Barclays bucked the trend on Monday, down 1.2 percent. The Financial Times reported the UK lender is planning to spin off a 4-billion-pound ($6.35 billion) portfolio of complex credit assets in a bid to further clean up its balance sheet. (continue reading…)

Oil exploration companies and service provider for the natural gas industry, American Oil & Gas Inc. is preparing the requirements for entry in the list of providers of products and services for oil and natural gas. American Oil & Gas has agreed terms, among others, completing the program Niobrara area of 53,000 hectares located in the Powder River basin of Wyoming. (continue reading…)

The Indian government risked a chance to fix the gas prices and contracts for the development of natural gas and oil exploration projects. The case of the Indian supreme court lawsuit over natural gas contract between Ambani may fail quotes from several companies for investment oil on natural gas exploration projects and sources of energy. (continue reading…)

Brazilian government proposed changes in state regulatory oil and gas exploration. Changes in state regulations issued by the Brazilian government for the sector, oil and gas exploration, providing a greater stake in state-owned oil company. These rules according to some oil companies are harming them, because this policy does not provide the opportunity for oil companies to take part in oil exploration activities in Brazil.
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