Petrobas Discovery Oil Santos Basin, Acquire Interest Offshore Benin and Restart Cherne
Petrobras has acquired 50% interest in Block 4, located off the coast of Benin – a country situated on the west coast of Africa -, from Compagnie Béninoise des Hydrocarbures (CBH), a subsidiary of Lusitania Petroleum, which maintains the remaining 50%. Petrobras aims to find Light oil, reproducing the discoveries that took place in the [...]
Tags:african oil exploration, benin offshore oil, campos oil drilling, cherne oil field, petrobas oil exploration, santos oil basin Oil | February 23, 2011
Libya Unrest, BP stop Exploration more Oil Companies and Industry Fallout
Oil companies, including Italy’s Eni, Royal Dutch Shell PLC, U.K.-based BP and Germany’s Wintershall, a subsidiary of BASF, were evacuating their expat workers or their families or both. BP and Wintershall said they were temporarily suspending operations; Eni said production continued normally. Libya is one of the world’s biggest oil producers and has the largest [...]
Tags:bp oil exploration, eni spa, libya oil producers, libya unrest, oil companies, oil industry in libya, royal dutch sell Hot News, Oil | February 21, 2011
Duke Energy Earning Jump as Demand from Industry and 2011 Forecast Profit
Duke Energy Corp (DUK.N) reported a 23 percent jump in quarterly earnings as electricity demand from its industrial customers rose and forecast 2011 profit above Wall Street expectations, boosting it shares. Net income rose to $427 million, or 32 cents per share, from $346 million, or 26 cents per share, a year earlier. Excluding one-time [...]