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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 [...]
Monday, February 21st, 2011Supply of Crude Oil Rise on Cushing Pipeline, Oil Fluctuates on Equities
Crude oil stockpiles rose in US for a fifth week as TransCanada Corp. completed an extension of a pipeline to Cushing, Oklahoma, adding to a glut at the country’s biggest oil-trading hub. Inventories climbed 2 million barrels, or 0.6 percent, in the seven days ended Feb. 11 from 345.1 million a week earlier, according to [...]
Tuesday, February 15th, 2011Circle Oil and Gas Exploration Updates Drilling Activity in Egypt
Circle Oil Plc the international oil and gas exploration, development and production company is pleased to announce the following update on its activities in Egypt. The Al Ola-1X well has now been placed on stream following receipt of official permission for a long-term production test. The Kareem Rahmi sand was perforated from 9,782 to 9,802 [...]
Monday, December 20th, 2010