Canadian listed, New Zealand oil and gas producer TAG Oil Ltd. (TSX-V: TAO), reports that the Company is now commencing an aggressive drilling campaign targeting the shallow formations at the 100%-controlled Cheal oil and gas field.
First half year profits of BHP Billiton took a record leap of a 71 % to reach a profit of $10.6 billion of which $10 billion will be returned to shareholders. Reuter’s analysts had predicted a profit of $10.3 billion for the same period and they were also surpassed.
Oil company Atlantic Richfield Co. (ARCO) has to pay damages worth $6.75 million in a settlement for natural resource damages to federal, state and tribal governments. The activities of the company owned by BP Plc., caused pollution in north Idaho’s Silver Valley.
Ecopetrol S.A. (NYSE: EC; BVC: ECOPETROL; BVL: EC; TSX: ECP) informs that it has proven the presence of hydrocarbons at the exploratory well Tinkhana-1, located in the block known as Western Area in Putumayo.
Chevron Corporation is gearing up to quit coal mining. The petroleum giant is actively looking for a buyer for its open pit mine located out of Kemmerer in western Wyoming.
The mining industry may face an acute shortage of manpower in the next few years as per a report from professional services organization Deloitte. The report said that the industry will need 58,000 more workers by 2020 to maintain the production levels that the industry has at present.
The European Union is seeing the shortage of raw materials as a major risk for the global economy as demand begins to exceed supply. European Union trade chief Karel De Gucht said that no country possessed all the raw materials that it needed.
China North East Petroleum Holdings Limited (NYSE Amex: NEP), a leading independent oil producing and oilfield services company in Northern China, today announced consolidated financial results for the third quarter ended September 30, 2010.
Royal Dutch Shell has agreed to sell one third of its stake in the Australian company Woodside Petroleum for $US3.3 billion or about $A3.26 billion. Approximately 78.34 million shares would be sold by Shell to equity investors as per a company statement.
Miller Petroleum, Inc. dba Miller Energy Resources (Nasdaq Global Market: MILL) a high growth oil and natural gas exploration, production and drilling company announced today that its wholly owned subsidiary Cook Inlet Energy, LLC has obtained approval for a three year extension of the Susitna Basin Exploration License No. 2, ADL 390078 which encompasses 471,474 acres.
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