Oil & Gas News

Suncor Energy Inc. said Tuesday it has signed a deal to sell a group of natural gas properties in northeast B.C. to Progress Energy Resources Corp.

Opti Canada Inc. had a $212-million loss in the final quarter of 2009, which actually saw big operational and financial improvements from a year earlier, the Calgary-based oilsands company announced Tuesday.

China's giant sovereign wealth fund revealed it has accumulated stakes totalling $US9.6 billion in major US companies including Coca-Cola, Apple and Goodyear following a buying spree last year.

Natural gas giant EQT is optimistic about the future of drilling in the Marcellus Shale.

Exxon Mobil says it has drilled the first development well for the Point Thomson project.

Husky Energy Inc. has announced its third significant discovery in the South China Sea.

Australia will dump 20,000 low-skilled migrant applications to re-focus its immigration intake on high-skilled jobs critical to the economy, the government said yesterday.

Major North American markets started Friday the same way they ended Thursday - on a downward slide - but all managed to turn things around in the afternoon and end the day with a positive result.

"The Ugandan government would like to have both Total and CNOOC in its the oil sector and Tullow is now trying to convince both of them to enter through partnership," an official with the president's office said.

By Ibrahim Kasita ENI, the Italian firm that showed interest in Uganda's oil fields, has withdrawn its bid after Tullow exercised its right of first option.

Martin Midstream Partners LP said Wednesday that it priced a public offering of about 1.7 million of its common units at $32.35 per unit.

Berkshire Hathaway Inc. . Berkshire Hathaway Inc. today announced that 5:00 p.m., New York time, on February 10, 2010 is the anticipated deadline for submission of Forms of Election by Burlington Northern Santa Fe Corporation shareholders to receive cash, Berkshire stock or a mix of the two in connection with the proposed merger of BNSF with and ...

Halliburton Co. , Aker Solutions ASA and other companies supplying the oil industry may be the ultimate winners in Norwaya s push for producers to spend more to keep its aging offshore oilfields alive.

Schlumberger Ltd. , the worlda s largest oilfield-services provider, said the pressure on costs from crude producers has passed and that a surge in oil prices may lead to shortages in drilling services.

TOKYO: The Nikkei average fell more than 3 percent to hit its lowest in seven weeks on Friday, with exporters hurt by a stronger yen, while escalating sovereign debt problems in Europe dented investor confidence in riskier assets including equities.

Energy companies are increasing bond sales at the fastest rate since October as investors snap up debt of companies with rising profits while the pace of offerings slows.

An energy consultant sees Husky Energy Inc. potentially expanding its refining business in British Columbia.

The recession has battered the U.S. economy, but the lobbying industry is humming along in the nation's capital, even for companies that have shed thousands of jobs in the past year.

Paolo Scaroni also said the company plans to raise around euro1.5 billion from selling off shares in three gas pipelines in order to settle a European Union antitrust dispute.

Energy Partners Ltd. on Friday increased its production guidance for the fourth quarter and 2010, crediting three new wells in the Gulf of Mexico.