The government-owned Oil & Natural Gas Corporation has made three oil and gas discoveries. It has found oil in the Cambay basin, oil and gas in Matar area in Vadodara distric and gas in the Krishna-Godavari basin, two persons close to the development said. For full story, click here
After selling $200 million of first-lien senior secured notes, Connacher Oil & Gas Ltd., Calgary, announced that it would reactivate its plan to construct the Algar project, a project similar in size to its first steam-assisted gravity drainage project, Great Divide Pod-1, in northeastern Alberta. For full story, click here
Imperial Oil Ltd. has approved the first phase of its Kearl oil-sands project, carrying the same hefty price tag of $8-billion from last year despite delaying some eight months to trim costs from the expensive undertaking. For full story, click here
In its June report on Alberta’s 2008 reserves and supply-demand outlook for 2009-18, Alberta’s Energy Resources Conservation Board lowered its forecast of bitumen output to 2.7 million b/d in 2018. Last year’s report showed production reaching 3.2 million b/d in 2017. For full story, click here
Oil Sands Sector Fund declared a quarterly cash distribution of $0.125 per unit. The quarterly distribution is payable on or before July 15, 2009 to unitholders of record on June 30, 2009. For full story, click here
Oilsands Quest Inc. declared that its participation at the Canadian International Petroleum Conference being held in Calgary from June 16-18, 2009. For full story, click here
Exxon Mobil Corp., the world’s leading oil refiner, boosted its capacity to transport crude from Canada’s oil sands to refineries in Texas and Louisiana. For full story, click here
Oil Sands Sector Fund declared that a quarterly cash distribution of $0.125 per unit. The quarterly distribution is payable on or before July 15, 2009 to unitholders of record on June 30, 2009. For full story, click here
MEED announced that Bahrain’s Mashael Group is pre qualifying engineering and construction contractors to bid on its USD 200 million heavy oil refinery project at Sohar port, following the signing of a long term lease agreement at the site. For full story, click here
Brazil state-controlled oil company Petrobras has approved the development project for its Siri field in the Campos Basin. For full story, click here
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