Egypt unrest may push oil above $110: Kuwait official

Global oil prices could exceed $110 a barrel if political unrest in Egypt continues, a member of Kuwait’s Supreme Petroleum Council said on Sunday. Oil prices have spiked due to tension in Egypt. Brent crude hit $100 per barrel for the first time since 2008 on fears instability could spread through the Middle East, which together with North Africa... 

BPZ Energy Announces $50 Million 2011 Capital Expenditures Plan

BPZ Resources, Inc. announces the 2011 capital expenditures plan, approximating $50 million, for continued development of the Company’s assets in northwest Peru. The majority of the capital budget is expected to be spent on offshore Block Z-1, primarily for the design and construction of an additional production platform for the Corvina oil field;... 

Alon USA to Present at the 2011 Credit Suisse Energy Summit

Alon USA Energy, Inc. today announced that the Company will be presenting at the 2011 Credit Suisse Energy Summit to be held in Vail, Colorado on February 7 – 11, 2011. Jeff Morris, Alon’s Chief Executive Officer, is scheduled to present on Thursday, February 10, 2011 at 7:00 a.m. Mountain Time (9:00 a.m. Eastern Time). A live broadcast... 

Exxon profit up, tops Street on taxes and output

Exxon Mobil Corp reported a better-than-expected 53 percent increase in quarterly profit, helped by a lower tax rate and a surge in natural gas production in the United States and Qatar. Oil demand rose last year and the U.S. government expects another 1.5 percent gain this year as businesses’ and consumers’ appetite for fuels like diesel... 

Global Expenditure on Oil & Gas Field Machinery to Reach $121 Billion in 2011

The report analyzes and forecasts the growth of the market over the next ten years, highlighting the countries and subsectors with strong growth prospects within the market. The research determines global expenditure on oil & gas field machinery to be $120.6 billion in 2011. The report forecasts and assesses the global spending in the oil &... 

Wall Street set to open higher on earnings, M&A

U.S. stocks were set for a higher open on Monday as merger activity and solid earnings, including Exxon Mobil, overshadowed concerns about the possible spread of unrest in Egypt to other parts of the Middle East. Alpha Natural Resources said on Saturday it agreed to a $7.1 billion deal to buy Massey Energy Co, which would create the second largest... 

Chevron profit climbs, but reserves data weigh

Chevron Corp’s 72 percent rise in quarterly profit easily beat Wall Street forecasts, but anemic growth in its oil reserves disappointed investors and its shares fell 1.5 percent. Like smaller rivals ConocoPhillips and Occidental Petroleum Corp, earnings at the second-largest U.S. oil company were lifted by the strength of oil prices. But Chevron... 

Holloman Energy Cooper Basin Update

Holloman Energy Corporation updates its shareholders and other interested parties regarding its operations and the recent extraordinary rain and flooding in Australia. Although recent flooding has been largely focused east of Holloman’s South Australian holdings, locally heavy rains continued to hit the Cooper Basin during the second half of 2010.... 

Reportlinker Adds Global LNG Market Trends, Outlook and Business Prospects to 2015

Reportlinker.com announces that a new market research report is available in its catalogue: Global LNG Market Trends, Outlook and Business Prospects to 2015 http://www.reportlinker.com/p0366585/Global-LNG-Market-Trends-Outlook-and-Business-Prospects-to-2015.html Report Description Global LNG industry is in a state of flux. The industry is poised to... 

Global Oil and Gas Upstream M&A 2010 Review

Record $211 billion in deals announced in 2010; Study sees another strong year in 2011 with more than $90 billion of properties on the market. PLS Inc., with international partner Derrick Petroleum Services and further analysis from Rystad Energy, reports global upstream oil and gas M&A activity for 2010 reached a record $211 billion. That volume...