Site Navigation World Industry News Exploration & Discoveries Drilling & Completion Development & Production Licensing & Concessions Geosciences Health Safety Environment Company News Special Features Technical Reports Regional Spotlight Hot Spots Oil/Gas Prices & Analysis World E&P Stats New Products & Services Industry Calendar Industry Book Reviews Industry Associations Industry Links Search Archives Upcoming Events May 12-16 Canadian Society of Petroleum Geologists Annual Convention May 13-15 Uzbekistan International Oil & Gas Exhibition & Conference May 13-15 International School of Hydrocarbon Measurement May 14-15 26th West Coast Energy Management Congress May 15 IADC Drilling Onshore America Conference & Exhibition May 20-21 6th Maghreb & Mediterranean 2008 May 20-21 SPE Digital Energy Conference May 20-22 Mediterranean Offshore Conference More Events New Products/Services New seafloor-to- surface heavy lift system Coiled tubing data acquisition Fugro flagship ROV FCV3000 Fluids & cuttings cleaning system To submit new products or servicesclick here Latest Headlines Brazil to fast-track Carioca Field & join OPEC Brazilian President Luiz Inacio Lula da Silva today revealed his government intends to fast-track Carioca Field development... 3D Oil scores with West Seahorse producer (5/11/2008) 3D Oil advised today a preliminary evaluation of the wireline data obtained from its West Seahorse-3 well off Victoria, Australia... Tanzania & DRC to jointly take a look at Lake Tanganyika (5/11/2008) Tanzania and the Democratic Republic of Congo issued a joint statement yesterday that they will research and explore... Blue Energy confirms Queensland coal seam gas (5/11/2008) Blue Energy said today it has obtained positive results with its Azure-1 exploration well in Queensland, Australia... Shell exiting Iran's South Pars Phase 13 development (5/11/2008) Royal Dutch Shell said yesterday it is withdrawing from the giant South Pars gasfield development in the Persian Gulf... Prudhoe Bay output halted by accident during blizzard (5/11/2008) BP reported yesterday oil production from the giant Prudhoe Bay and Northstar Fields on Alaska's North Slope has been suspended... Peru cuts isolated Indian lands from licensing (5/11/2008) Survival International said today Peru has dropped plans to license oil exploration in isolated Indian reserves... KCA Deutag wins $100 million in land drilling deals (5/11/2008) KCA Deutag reported today it has obtained contracts worth more than US$100 million for European and Russian drilling projects... FPSO Four Vanguard operations halted due to safety issues (5/9/2008) Australia's National Offshore Petroleum Safety Authority today issued a prohibition notice preventing the operation of the Four Vanguard... Lansdowne completes Celtic Sea seismic survey (5/9/2008) Lansdowne Oil & Gas today reported successful completion of its 2D seismic acquisition program in the Celtic Sea off Ireland... Vaalco prepping for Gabon drilling program (5/9/2008) Vaalco said today it is about to commence its 2008 drilling program with three exploration wells and an appraisal well off Gabon... Australia awards 9 new exploration blocks (5/9/2008) Australia's Ministry of Resources and Energy today granted nine exploration permits representing a US$425 million investment... Bridge confirms gas in North Sea Durango well (5/9/2008) Bridge Resources reported today its Bridge North Sea Durango-4z well in the UK sector of the North Sea has confirmed... Reliance relinquishes 5 blocks offshore India (5/9/2008) Reliance Industries is reported today to have returned its interests in five blocks offshore India's Kerala-Konkan Basin... Colombian guerillas bomb Transandino pipeline (5/9/2008) In a repeat of the March bombing of the Transandino pipeline that transports 100,000 b/d of oil from Colombian fields to export... Innamincka fishing for stuck pipe at Crocus South (5/9/2008) Innamincka Petroleum reported today it commenced a fishing operation this morning on its South Australia Cooper Basin well... Argentina's Mendoza Province licenses 11 blocks (5/9/2008) Argentina's Mendoza Province Governor Celso Jaque said today 11 of 12 blocks on offer have been awarded for US$290.59 million... MOL farming into ONGC block in NW India (5/9/2008) Hungary's national oil company Magyar Olaj-es Gazipari advised today it has concluded a farm-in agreement to acquire... Chevron contributes $2 million to Myanmar assistance (5/9/2008) Chevron Corporation revealed today it has contributed US$2 million to provide assistance to those affected by the devastating cyclone... Arpaci appraisal well spudded onshore Turkey (5/9/2008) Otto Energy reported today joint operators Incremental Petroleum and Petraco have commenced drilling the Arpaci-2 appraisal well... Six injured in Premium Oil blowout in south Texas (5/9/2008) A Premium Oil Company oilwell being drilled south of Carrizo Springs, Texas blew out late yesterday when a pocket of gas was hit... Prirazlomnaya platform nearing completion (5/9/2008) Russia's environmental regulation agency Rosprirodnadzor is reported today to have given its stamp of approval... Bow suspends Donga-4 Queensland test well (5/9/2008) Bow Energy today reported completion and swab testing were carried out on Donga-4 well in Queensland, Australia's Surat Basin... Williams adding Piceance gas reserves (5/9/2008) Williams said today it has agreed to purchase SandRidge Energy's and other parties' interests in Colorado's Piceance Basin... Indonesia's Citarum Block back on track (5/9/2008) Sound Oil said today the planned seismic survey of the Citarum Block onshore West Java, Indonesia can get underway now... Norway launches new APA licensing round (5/9/2008) The Norwegian Ministry of Petroleum and Energy today launched licensing of blocks in mature areas offshore Norway... For more headlines check each department in Site Navigation. From the Editor Surging oil prices threat to world economy Dev George Managing Editor Crude oil is now pushing toward US$120 per bbl and is likely to surpass that mark in the next few days due to a range of triggers that are making traders in all the world's major commodities markets fear the worst and bet it will happen by continually buying up futures. The cause of their trepidation is the prospect of insufficient supply to meet world demand - a demand that is lessening somewhat in the OECD countries, with the possible exception of Japan and South Korea, but surging in the dual Asian dynamos China and India...Continue Click here for prior editorials. Oil/Gas Prices & Analysis Week of climbing prices ends at over $125/bbl (5/9/2008) Everything that usually drives up oil prices is at play and has taken prices of oil this week alone higher by at least US$10 per bbl with no end in sight. Malaysia's Tapis, the world's most expensive oil, has risen to $131.43, while Bonny Light from Nigeria has soared to $127.28 and even the traditionally lowest price oil, Urals/Mediterranean, has reached...Continue to latest O&G prices/analysis Feedback Click here to email your comments and suggestions on this site and any of its articles. Click here to read feedback comments. What's New New Book Review: Gulf Oil and Gas: Ensuring Economic Security Tools Glossary World Time Zones Measurement Conversions Currency Converter About This Site | Contributer's Guide | Newsfeed Services | 2008 Advertising Info | Contact Us ©Copyright 2001-2008, Oil and Gas International, all rights reserved. ISSN: 155-7440. Republication or redistribution of any content in the Oil and Gas International website and newsletter, whether by caching, framing, or any similar means, is completely prohibited without advance consent in writing from Oil and Gas International. 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