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gee brikk isn't it green day today
nice bang 15200k need more buys
StatoilHydro to pay $1.8 billion for Anadarko fields
By Steve Goldstein, MarketWatch
Last update: 9:34 a.m. EST March 4, 2008Print E-mail RSS Disable Live Quotes
LONDON (MarketWatch) -- StatoilHydro said Tuesday it's paying at least $1.8 billion to Anadarko Petroleum for stakes in heavy-oil and deep-water projects in Brazil and the Gulf of Mexico, part of a strategy at the Norwegian firm to beef up reserves after difficulties unearthing new finds in recent years.
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STO 30.54, -0.15, -0.5%) (NO:STL: news, chart, profile) said it's shelling out $1.8 billion, plus as much as $300 million more before tax depending on oil prices, to Anadarko Petroleum (APC:APC
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In return, it's getting the 50% interest it didn't already hold in the Brazilian Peregrino project, which it estimates has reserves of at least 500 million barrels of oil equivalent.
Statoil hopes to find even more oil by improving on a 20% recovery factor and by looking for more resources outside the main field.
The project is due to start production in 2010, said the company, which is in the process of merging Norsk Hydro's oil and gas activities with its own.
Statoil also will be getting from Anadarko a 25% interest in the Kaskida discovery in deep-water U.S. Gulf of Mexico, a platform that's 55% held and operated by BP
Goldman Says It May Raise Long-Term Oil Price Forecast on Costs
By Grant Smith
March 4 (Bloomberg) -- Goldman Sachs Group Inc., the world's largest securities firm, said it may increase its five- year oil price forecast of $85 a barrel because of rising exploration and production costs.
``The risk to this forecast is strongly skewed to the upside,'' analysts at Goldman Sachs including London-based Jeffrey Currie said in a report today.
``The rally of the past few weeks is well supported by continuing industry cost inflation'' and ``not driven by concerns over the short-term supply-demand balances,'' Goldman's analysts said.
To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net
Last Updated: March 4, 2008 07:19 EST
here paint 73 on
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62k at one pop
hey jd, new records
Oil Spikes Above $102 a Barrel
Wednesday February 27, 12:53 pm ET
By Adam Schreck, AP Business Writer
Oil Spikes Above $102 a Barrel As Weakening Dollar Draws Investors to Commodities
NEW YORK (AP) -- Crude prices spiked above $102 a barrel for the first time Wednesday but retreated after the government said stockpiles of crude oil and gasoline rose far more than expected last week
Wed, February 27, 2008
BREAKING NEWS:
Fed Chairman Bernanke signals the Fed stands ready to lower rates again "to provide adequate insurance against downside risks" to the economy
Oil hits a high; some in U.S. see $4 gas by spring
By Jad Mouawad Published: February 27, 2008
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Gasoline prices, which for months lagged the big run-up in the price of oil, are suddenly rising quickly, with some experts fearing they could hit $4 a gallon by spring. Diesel is hitting new records daily and oil closed at an all-time high on Tuesday of $100.88 a barrel.
The increases could not come at a worse time for the economy. With growth slowing, high energy prices that were once easily absorbed by consumers are now more likely to act as a drag on household budgets, leaving people with less money to spend elsewhere. These costs could exacerbate the nation's economic woes, piling a fresh energy shock on top of the turmoil in credit and housing.
"The effect of high oil prices today could be the difference between having a recession and not having a recession," said Kenneth Rogoff, a Harvard University economist.
The depth of the nation's economic problems became clearer Tuesday with the release of figures showing that prices at the producer level rose 1 percent in January, driven in large measure by energy costs. Compared with a year ago, prices were up 7.4 percent, the worst producer price inflation in the United States since 1981.
Other new figures showed that home prices around the country are falling at an accelerating pace, suggesting no end is in sight for the housing meltdown. As of Tuesday, regular gasoline was selling at a nationwide average of $3.14 a gallon, according to AAA, the automobile club, up from $2.35 a year ago. The price has jumped 19 cents a gallon in two weeks. Energy specialists predict that as demand picks up further this spring and summer, retail prices will surpass the high of $3.23 a gallon set last Memorial Day weekend.
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On Tuesday, diesel prices rose to a record $3.60 a gallon, compared with $2.62 a gallon last year.
For a decade, rising oil prices had failed to dent global economic growth. In the United States, consumers absorbed the higher costs thanks to easy credit and rising prosperity, while in developing countries, government subsidies helped ease the pain. The rise in energy prices was a result of growing demand around the world.
The price of oil has quadrupled in six years, and Tuesday's close was not far below the inflation-adjusted all-time high set in April 1980, after the Iranian revolution. That record, $39.50 a barrel, equals $103.76 in today's money
Oil hits a high; some in U.S. see $4 gas by spring
By Jad Mouawad Published: February 27, 2008
E-Mail Article
Listen to Article
Printer-Friendly
3-Column Format
Translate
Share Article
Text Size
Gasoline prices, which for months lagged the big run-up in the price of oil, are suddenly rising quickly, with some experts fearing they could hit $4 a gallon by spring. Diesel is hitting new records daily and oil closed at an all-time high on Tuesday of $100.88 a barrel.
The increases could not come at a worse time for the economy. With growth slowing, high energy prices that were once easily absorbed by consumers are now more likely to act as a drag on household budgets, leaving people with less money to spend elsewhere. These costs could exacerbate the nation's economic woes, piling a fresh energy shock on top of the turmoil in credit and housing.
"The effect of high oil prices today could be the difference between having a recession and not having a recession," said Kenneth Rogoff, a Harvard University economist.
The depth of the nation's economic problems became clearer Tuesday with the release of figures showing that prices at the producer level rose 1 percent in January, driven in large measure by energy costs. Compared with a year ago, prices were up 7.4 percent, the worst producer price inflation in the United States since 1981.
Other new figures showed that home prices around the country are falling at an accelerating pace, suggesting no end is in sight for the housing meltdown. As of Tuesday, regular gasoline was selling at a nationwide average of $3.14 a gallon, according to AAA, the automobile club, up from $2.35 a year ago. The price has jumped 19 cents a gallon in two weeks. Energy specialists predict that as demand picks up further this spring and summer, retail prices will surpass the high of $3.23 a gallon set last Memorial Day weekend.
Related Articles
U.S. home prices fall, but prices of everything else rise
Battered dollar slides below crucial euro level
Today in Business with Reuters
EU fines Microsoft $1.3 billion
Dollar hits record low of $1.50 per euro
UBS chief urges shareholders to back huge capital injection
On Tuesday, diesel prices rose to a record $3.60 a gallon, compared with $2.62 a gallon last year.
For a decade, rising oil prices had failed to dent global economic growth. In the United States, consumers absorbed the higher costs thanks to easy credit and rising prosperity, while in developing countries, government subsidies helped ease the pain. The rise in energy prices was a result of growing demand around the world.
The price of oil has quadrupled in six years, and Tuesday's close was not far below the inflation-adjusted all-time high set in April 1980, after the Iranian revolution. That record, $39.50 a barrel, equals $103.76 in today's money
yes green today, maybe we have less bitching tonight
yes it time to pony up brikk
Power Outages Reported in Florida
Tuesday February 26, 2:37 pm ET
Widespread Power Outages Reported in Florida, Including Miami; Unclear How Many Affected
MIAMI (AP) -- Sporadic power outages were reported across Florida on Tuesday, and the state's largest electric company said it had not determined a cause. It was unclear how many customers were affected.
ADVERTISEMENT
Frank Reddish, Miami-Dade County's emergency management coordinator, said the outages appeared to be concentrated in the southeast, including parts of Miami, and began shortly after 1 p.m
i sorry bud ,i also forgot you another one with deep pockets
that sound like deep pocket's brikk
nice hit for 50G
jdsgungho,you better of buying dpdw than going to mi. casino
now you got it, give it hell
that's right brikk, it's called pony up
thank you much
utmostbastard, what the ante
here a nice 20k
hello fred8, here one by main ingredient called spinning around
ok brikk
Feb 24, 7:00 AM EST
Virgin Flies Biofueled Jet From London
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LONDON (AP) -- The world's first commercial flight powered by biofuel has taken off from Heathrow Airport.
The goal of Sunday's Virgin Atlantic jumbo jet test flight from London to the Netherlands is to show that biofuels can produce less carbon dioxide than normal jet fuels.
Before it took off, Sir Richard Branson, Virgin Atlantic's president, said the breakthrough would help Virgin Atlantic to fly planes using clean fuel sooner than expected
Recognizer, at 58 in the next 12 min. good luck
hey joe do you know name of the company that brought those three Bend Stiffener
you know brikk 1/2 of a billy buck looks good today
3.5 million worth sales in one week great
my guess is, this old dog can still hunt
Venezuela Halts Oil Sales to Exxon Mobil
Tuesday February 12, 9:27 pm ET
By Fabiola Sanchez, Associated Press Writer
Venezuela's State Oil Company Halts Oil Sales to Exxon Mobil
CARACAS, Venezuela (AP) -- Venezuela's state oil company said Tuesday that it has stopped selling crude to Exxon Mobil Corp. in response to the U.S. oil company's drive to use the courts to seize billions of dollars in Venezuelan assets.
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Exxon Mobil is locked in a dispute over the nationalization of its oil ventures in Venezuela that has led President Hugo Chavez to threaten to cut off all Venezuelan oil supplies to the United States. Venezuela is the United States' fourth largest oil supplier.
Tuesday's announcement by state-run Petroleos de Venezuela SA, or PDVSA, was limited to Exxon Mobil, which PDVSA accused of "judicial-economic harassment" for its efforts in U.S. and European courts.
PDVSA said it "has paralyzed sales of crude to Exxon Mobil" and suspended commercial relations with the Irving, Texas-based company.
"The legal actions carried out by the U.S. transnational are unnecessary ... and hostile," PDVSA said in the statement. It said it will honor any existing contracts it has with Exxon Mobil for joint investments abroad, but reserved the right to terminate them if permitted by the terms of the contracts.
It was unclear how much oil PDVSA supplies to Exxon Mobil, the world's biggest publicly traded oil company. Both Chavez and Oil Minister Rafael Ramirez previously said the company is no longer welcome to do business in Venezuela.
Venezuela's decision leaves up in the air the situation of a refinery in Chalmette, La. -- a joint venture supplied by Venezuelan oil in which PDVSA and Exxon Mobil are equal partners.
Exxon Mobil spokeswoman Margaret Ross declined to comment on the move by Venezuela but added that "it is our long-standing practice to take appropriate steps to meet our customers' needs."
Exxon Mobil is challenging the Chavez government's nationalization of one of four heavy oil projects in the Orinoco River basin, one of the world's richest oil deposits.
A British court issued an injunction last month temporarily freezing up to $12 billion of PDVSA's assets. Exxon Mobil also has secured an "order of attachment" from U.S. District Court in Manhattan on about $300 million in cash held by PDVSA. A hearing to confirm the order is scheduled for Wednesday.
Other oil companies including Chevron Corp., France's Total, Britain's BP PLC and Norway's StatoilHydro ASA have negotiated deals with Venezuela to continue as minority partners in the nationalized projects. ConocoPhillips and Exxon Mobil balked at the government's tougher terms and have been in compensation talks with PDVSA.
Earlier Tuesday at an energy conference in Houston, Exxon Mobil senior vice president Mark Albers declined comment on any court proceedings with Venezuela, though he said the company is eager to negotiate fair compensation for its assets.
Exxon Mobil is taking the dispute to international arbitration, to which Venezuela has agreed. Its legal actions essentially seek to corral Venezuelan assets ahead of any decision by the arbitration panel.
Venezuela's announcement came after Ramirez, the oil minister and PDVSA president, reiterated in a newspaper interview Tuesday that Venezuela is ready to cut off oil supplies to the United States if pressed into an "economic war."
"If they want this conflict to escalate, it's going to escalate. We have a way to make this conflict escalate," Ramirez was quoted as saying.
The White House on Tuesday declined to comment on Venezuela's threat. "When there's a litigation that's ongoing, different parties will say anything to try to win over on an argument," said White House press secretary Dana Perino.
Meanwhile, Venezuelan state television has begun airing short anti-Exxon segments, with a message appearing on the screen in red text reading: "Exxon Mobil turns oil into blood."
The U.S. remains the No. 1 buyer of Venezuelan oil, and Chavez relies largely on U.S. oil money to stimulate his economy and bankroll social programs that have traditionally boosted his popularity.
Some analysts say it would make little sense for Chavez to follow through on his broader threats to cut off oil sales to the U.S. because Venezuela owns refineries in the United States that are customized to handle the South American country's heavy crude.
Ramirez said Venezuela is selling the U.S. a daily average of 1.5 million barrels of crude and other products derived from oil.
Associated Press business writer John Porretto in Houston contributed to this report
thank you Old_Drummerman and fred8 very good job
Helix awarded three-year vessel contract
by: OilOnline
Thursday, December 06, 2007
Helix Energy Solutions announced that its wholly-owned subsidiary Canyon Offshore, Inc. has been awarded a $160 million, three-year contract by an E & P operator in South East Asia, to provide the M/V Olympic Canyon DP II multipurpose vessel for offshore inspection, repair and maintenance operations.
The Olympic Canyon is scheduled to commence work in April 2008 and will support client’s numerous offshore projects. The vessel will be outfitted with two deepwater 150 HP TRITON XLS work class ROV systems, a variety of intervention tooling and support equipment, and a 140 mT active heave compensated crane.
Canyon has recently grown its fleet of chartered vessels with the addition of two new Norwegian built vessels the M/V Olympic Canyon and sister ship M/V Olympic Triton. Canyon has also added the M/V Island Pioneer to its fleet. All three vessels are state of the art deepwater multipurpose vessels, exceeding 300 ft. in length. In addition Canyon has the M/V Northern Canyon and the M/V Seacor Canyon in its fleet of long term chartered deepwater ROV intervention vessels. Canyon operates the vessels in the European, Asian, and Americas regions and is actively bidding projects in all active offshore energy markets worldwide. Canyon is also looking for two additional multipurpose vessels to meet current demand.
Bart Heijermans, Helix’s Executive Vice President and Chief Operating Officer, stated, “This is the third significant international deepwater contract we have been awarded in as many months. These contracts have added over $300 million to our rapidly growing deepwater contracting backlog, which now extends into 2011. Canyon has become very successful at bundling third party vessels with their robotic assets to provide key customers with a full suite of subsea intervention
here all the news and expanding business for feb 2008
New and Expanding Business
The lastest petroleum industry business headlines from around the world keep you up to date and ahead of the game.
February 2008
Aker Kvaerner awarde contract by Daewoo Shipbuilding
Aker Kvaerner has been awarded a drilling equipment contract by Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME) in Korea for an ultradeep drillship ...
Aker Kvaerner signs first subsea contract with Repsol YPF
Aker Kvaerner has been awarded its first subsea contract from Spanish oil company Repsol YPF ...
Angola LNG Limited licenses ConocoPhillips natural gas liquefaction technology
ConocoPhillips announced a license agreement with Angola LNG Limited for the application and use of ConocoPhillips’ proprietary natural gas liquefaction technology ...
CTC receives contract award from Cecon
CTC Marine Projects has recently been awarded a contract with a value of approximately GBP3 million by Cecon ASA ...
Expro signs LOI with Aker Oilfield Services Ltd
Expro announces the signing of a letter of intent (LOI) with Aker Oilfield Services Ltd to jointly market its proprietary AX-S rigless intervention technology ...
Falcon’s MoBay Storage Hub signs 24,000-acre gas storage lease with the State of Alabama
MoBay Storage Hub LLC has signed a gas storage lease with the State of Alabama that covers more than 24,000 acres of state-owned lands ...
Foster Wheeler awarded EPC contract for pipeline upgrade in Southern Africa
Foster Wheeler Ltd. has been awarded an engineering, procurement and construction (EPC) contract by Republic of Mozambique Pipeline Investments Company (Pty) Ltd. ...
KBR awarded contract for Pazflor FPSO Topsides
KBR has been awarded a contract by Daewoo Shipbuilding and Marine Engineering Company, Ltd. (DSME) to provide topsides engineering, procurement and interface design services ...
Kuwait Oil Co selects GE Compressors for new oil & gas gathering center
Kuwait Oil Company has selected GE Oil & Gas compressor technology for the new Oil and Gas Gathering Center 24 (GC24) in Kuwait's Sabriya field ...
Pride International selects VetcoGray's advanced marine riser system for new drill ship
Pride International has selected the latest version of the MR-6 marine riser system from VetcoGray for use on a new deepwater drill ship that will be completed in 2010 ...
SulphCo announces agreement with Pt. Isis Megah
SulphCo, Inc. has signed an agreement with Pt. Isis Megah which grants Isis an exclusive distributorship in the sales territories of India, Malaysia, Singapore and Indonesia ...
TGS begins major multi-client aeromagnetic program in Libya
TGS-NOPEC Geophysical Company has undertaken a large scale multi-client aeromagnetic study in Libya ...
Total signs two heavy oil study agreements with PDVSA
Total announces the signature of two joint study agreements with PDVSA concerning the Junin 10 block in the Orinoco Belt in Venezuela ...
VAALCO Energy announces North Sea farm-in
VAALCO Energy, Inc. announced the signing of a farm-in agreement
he what they didn't tell you pride int. just awared these 2 company 160 million deal
Pride International selects VetcoGray's advanced marine riser system for new drill ship
by: OilOnline
Friday, February 08, 2008
Pride International has selected the latest version of the MR-6 marine riser system from VetcoGray for use on a new deepwater drill ship that will be completed in 2010.
VetcoGray will supply two MR-6H SE Marine Riser Systems, which offer improved safety and efficiency for the offshore drilling industry. The system combines innovative design with the field-proven technology of the previous MR-6 dog style marine riser systems and the H-4 subsea wellhead connector locking mechanism. The VetcoGray riser is designed to operate in water depths of 12,000 feet.
The MR-6H SE system, which received a Spotlight on New Technology Award at the 2007 Offshore Technology Conference, provides fully automated connection capabilities, as hydraulic units on the spider engage a cam ring on the box to actuate six dogs into the profile of the pin. This creates a full pre-loaded connection with an efficient and effective load path.
The fully automated capabilities of the MR-6H SE can eliminate the need to place people in a potentially hazardous situation. The pin is lowered into the box and guided into place with an internal guide pin; then the spider automatically makes the connection.
The MR-6H SE connection can be made or broken in less than a minute, and the string can be made up in about half the time of a conventional flanged riser system - key features that can mean substantial cost savings for the ship owner and the operator.
"The safety and time-saving features of our new marine riser technology are particularly important today with the industry trend toward drilling in deeper and deeper water," said Dave Tucker, Chief Operating Officer of VetcoGray. "With drilling rig rates at an all-time high, greater drilling speed and efficiency can significantly reduce costs."
The two MR-6H SE systems will be manufactured at the GE Oil & Gas VetcoGray facilities in Houston, and will be shipped in the fourth quarter of 2009 and the second quarter of 2010.
Click here for more of Today's News Headlines
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