It is reported that Venezuela has launched a massive endeavor to develop the nation’s vast Orinoco heavy crude oil belt, considered one of the largest in the world, that is slated to add 2.1 million barrels per day of new production. The press release is quoted as saying: Venezuela will receive a combined total of [...]
Xcite Energy (TSX-V: XEL) (AIM: XEL) (LSE: XEL) reported an offering of new ordinary shares of the Company which will be offered for sale pursuant to a short form prospectus filed in all of the provinces of Canada except Québec. The press release is quoted as saying: The net proceeds from the Offering will be [...]
Palliser Oil & Gas Corporation reported the final receipt for its Non-Offering Prospectus was received February 2, 2010 and its common shares will commence trading on the TSX Venture Exchange, at the market open, on February 10, 2010 under the symbol “PXL”. The press release is quoted as saying: Palliser is a Calgary-based emerging junior [...]
Southern Pacific Resource Corp. (TSX VENTURE:STP) reported that TSX Venture Exchange has identified Southern Pacific as #1 in the oil and gas sector of the 2010 TSX Venture 50, a ranking of the strongest performers listed on TSX Venture Exchange. The press release is quoted as saying: The selection of Southern Pacific to the TSX [...]
Xcite Energy (TSX-V: XEL) (AIM: XEL) (LSE: XEL), a developer of heavy oil assets in the UK North Sea, reported an offering of new ordinary shares of the Company which will be offered for sale pursuant to a short form prospectus filed in all of the provinces of Canada except Québec. The press release is [...]
Husky Energy Inc (HSE.TO), Canada’s No.3 integrated oil producer and controlled by Hong Kong billionaire Li Ka-shing,reported its fourth-quarter profit rose as oil prices strengthened. The press release is quoted as saying: Husky reported net income of C$320 million, or $0.38 Canadian cents per share, up from C$231 million, or $0.27 Canadian cents, a year [...]
Marathon Petroleum Company LLC, a subsidiary of Marathon Oil Company (NYSE:MRO),reported that the comoany is moving forward with construction of the $2.2 billion Heavy Oil Upgrade Project refinery expansion project, after halting construction in February 2009 due to poor market conditions. The press release is quoted as saying: Construction began in June 2008, but due [...]
On Friday, Brazilian state-run oil company Petrobras (PETR4.SA)(PBR.N) announced that the company’s exports of oil and oil products in 2009 reached an average 705,000 barrels per day, up 4.8 percent from 2008. The press release is quoted as saying: Exports of oil alone rose 8.9 percent to 478,000 barrels per day. The increase in exports [...]
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