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Oil & Gas

Chavez says low oil price could hurt Venezuela

November 17, 2008
Venezuela will suffer if world oil prices keep falling, President Hugo Chavez said, in an unusual acknowledgment of how the global financial crisis is hurting the OPEC nation, as reported
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OPEC further cuts world oil demand forecast

November 17, 2008
According to Reuters, OPEC cut its forecast for world demand for its crude oil next year due to the slowing global economy, building a case for further oil supply cuts
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Chevron to sell Kenya, Uganda assets to Total

November 3, 2008
According to the Associated Press, Chevron Corp. will sell its Kenya and Uganda businesses to Total Outre Mer SA for an undisclosed amount. Chevron Africa Holdings Ltd. will sell its
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Total makes gas discovery off the coast of Brunei

November 3, 2008
According to the Associated Press, Total SA has made a significant gas and condensate discovery in Block B off the coast of Brunei. The French oil and gas company operates
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Shell and Abu Dhabi target offshore gas production

November 3, 2008
Abu Dhabi National Oil Co. and a division of Royal Dutch Shell say they have signed a deal to explore the possibility of developing deep natural gas fields off the
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Brazil poised to become oil superpower

October 16, 2008
Four miles under the ocean''s surface off Brazil''s lush coast lie billions of barrels of recently discovered light crude -a treasure that could transform the country into an oil superpower,
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Mubadala, Conoco agree on Kazakh deal

October 6, 2008
Reuters reports that the UAE''s Mubadala Development Co has signed a preliminary deal with ConocoPhillips and Kazakhstan''s state energy firm to develop an offshore Kazakh oil and gas block. Conoco
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Nigerian oil union opposes Chevron sale

September 30, 2008
Bizjournals reports that Nigeria’s top union for oil workers is against Chevron Corp.’s proposed sale of Texaco stations and other assets in the West African nation. Chevron plans to sell
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Oil reserves to be developed on island of Madagascar

September 18, 2008
Bizjournals.com reports that Madagascar Oil Ltd. is teaming up with Total SA to develop huge oil reserves in the island nation of Madagascar. Madagascar, a Houston-based private E&P company,
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Gazprom, Total to sign energy deals with Bolivia

September 18, 2008
Bolivia is preparing to sign oil and gas exploration deals with Russian energy giant Gazprom and Paris-based Total SA, the Associated Press reported. Bolivia''s Hydrocarbons Ministry says President Evo Morales
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