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Oil & Gas

Afren’s Wells Target 900 Million Barrels of Oil in East Africa

Bloomberg reports that Afren Plc, a U.K. oil and gas explorer focused on Africa, said it’s targeting about 900 million barrels of oil and gas resources with its drilling campaign
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Eugene Island Crude Premium Rises After Platform Shutdown

According to Bloomberg, the premium for Eugene Island crude widened after Chevron Corp. halted production at a platform for about an hour yesterday. Chevron shut in a shallow-water platform in
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Small Leak Shuts Down Oil Pipeline in Alaska

According to the New York Times, officials have said they had not determined the cause or full extent of the leak in a pipe that connects a huge storage tank
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ATP Shares Rise on Deepwater Drilling Clearance

Shares of ATP Oil & Gas Corp. rose Tuesday after the U.S. allowed it to resume deepwater drilling operations in the Gulf of Mexico, according to the Associated Press. ATP,
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Gulf Resources Agrees to Acquire Crude Salt Field

PRNewswire reports that Gulf Resources, Inc., a manufacturer of bromine, crude salt and specialty chemical products in China, announced that its wholly-owned subsidiary Shouguang City Haoyuan Chemical Company Limited has
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BP''s Spill Costs Likely to Stay Below $60 Billion

According to the Associated Press, cleanup, government fines, lawsuits, legal fees and damage claims from BP’s Gulf oil spill will likely exceed the $40 billion that BP has publicly estimated,
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