Venezuela will demand that oil companies pay an high premium of between $500 million and $1 billion to participate in the development of the Carabobo oil block in the OPEC nation’s giant Orinoco heavy crude belt. For full story, click here
Alberta Premier Ed Stelmach will declare natural gas drilling incentives Thursday as the industry struggles with depressed prices and increased shale gas development south of the border. For full story, click here
Abdulaziz Al-Judaimi, vice president new business development for Saudi Aramco has reinforced the state-energy giant’s commitment to investing strongly in Saudi Arabia’s domestic petrochemical’s industry at the World National Oil Companies Congress in Abu Dhabi. Al-Judaimi stated: Saudi Aramco remains committed to an investment programme covering all of its operational areas. We will expand our [...]
U.K. Chancellor of the Exchequer Alistair Darling declared that he will introduce tax incentives to encourage the development of smaller oil and gas fields in the North Sea with the aim of squeezing an extra 2 billion barrels equivalent out of the rapidly declining region. For full story, click here
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