Oil and Gas

Profits translate to a 1% increase on Q1 of 2012 ExxonMobil have announced that their 2013 Q1 earnings of $9,500 million form a $50 million, or 1%, increase from the first quarter of 2012. Earnings per share (assuming dilution) were $2.12, an increase of 6%. In a statement the company further reported that: Capital and […]

Initial phase to produce 110,000 barrels per day Exxon Mobil Corporation announced today the startup of the Kearl oil sands project in Alberta, Canada, which incorporates technological innovations to enhance environmental performance while enabling long-term production to meet future energy demand. “Kearl will access 4.6 billion barrels of resource that will meet energy needs for […]

Wessex Exploration stock (LSE:WSX) has come under severe pressure, following a period of indecision that lasted about 4 months (from December 2012 to March 2013). The stock poses a conundrum for buyers: looking for long opportunities while overlooking better shorting levels is like ignoring leprosy while paying attention to ringworm. After some indecisive months that […]

The price on Northern Petroleum (LSE:NOP) has recently been in a perpetual downward bias. Things remain pessimistic about the company’s shares, favoring only short-sellers. For the bulls that refuse to smooth their positions, we do not know how many people would be eventually wet by the incessant rain. The stock might pretend to be moving […]

The outlook on Amerisur Resources (LSE:AMER) is no longer bright. This means the prospects are in favor of the bear. This is not the time when the price would go ballistic – not even in the near future. A broken calabash is definitely not fit for drinking pap. Last month, the stock made some northward […]

Southern North Sea oil stake bought from BP SSE  has completed the acquisition from BP of a 50% working interest in the Sean gas field in the Southern North Sea. SSE has paid a total cash consideration of £117.4 million, which reflects the value of the asset based on an effective economic date of 1 […]

Energy giant furthers African operations Exxon Mobil Corporation has announced today that its Liberian affiliate has acquired from Canadian Overseas Petroleum (Bermuda) Ltd. (COPL) 80 percent interest in Liberia Block 13 (LB-13), comprising more than 625,000 acres (2,500 square kilometers) offshore Liberia in water depths ranging from 250 to 10,000 feet (75 to 3,000 meters). […]

Mediterranean Oil & Gas (LSE:MOG) and Noble Energy (NYSE:NE) have been making waves waves in the Mediterranean lately.  It appears that the front-end investment period in some of their Mediterranean projects is over and the fun part is about to begin. MOG is probably the smaller of the two stories.  Nonetheless, it is poised to […]

As a general rule of thumb, it’s good to remember that cause and effect are not necessarily closely related in time and space.  Today, however, the response to the news of Petrovac’s (LSE:PFC) latest contract award was immediate and pronounced. Petrovac released the news of being awarded a new $3.7 billion contract at 10:32 this […]

Tanzania is fundamentally rural and not connected to the grid, so it’s no surprise that 90% of its primary energy needs come from Biomass – leading to rapid deforestation – with Petroleum making up 7.8%, natural gas 2.4% and hydropower 1.2%. Less than 10% of Tanzania’s 40m plus population have access to electricity. In 2009 […]