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Eromanga & Gavea see oil in onshore Brazil well (5/15/2008) Eromanga Hydrocarbons reported today operator Gavea Oil & Gas has encountered oil shows with its 1-Nord-1SE well onshore... Fourth well in Turkey's Edirne Gas Project scores (5/15/2008) Incremental Petroleum and Otto Energy reported today that the fourth well in the 2008 program has encountered gas-filled strata... Sonatrach scores 6th discovery of year in Algeria (5/15/2008) Algeria's national oil company Sonatrach said today it has achieved a new gas discovery with its Tirechoumine-2 exploration well... MMS sets new rule for hurricane platform survivability (5/15/2008) The US Interior Department's Minerals Management Service today put into affect a new rule to increase platform survivability... ExxonMobil putting 2nd Kizomba C field onstream (5/15/2008) ExxonMobil is reported today to be preparing to bring its Saxi Field onstream in the Kizomba C deepwater development off Angola... Regal contracts rigs for five-year Ukraine program (5/15/2008) Regal Petroleum reported today it has contracted Saipem to provide two new Lewco 2000 hp drilling rigs to drill its condensate fields... Arcadia completes interpretation of 2007's Namibia 2D data (5/15/2008) Tower Resources said today farm-in operator Arcadia Petroleum has completed the interpretation of the 2D seismic acquisition... MOL scores discovery on Russia's Matyushkinskaya Block (5/15/2008) Hungary's national oil company Magyar Olaj-es Gazipari said today it has achieved a discovery on Russia's Matyushkinskaya Block... Sapex wins South Australia licenses in St Vincent Basin (5/15/2008) Sapex reported today it has been awarded two new exploration licenses in South Australia's St Vincent Basin... Total boosts E&P computing power (5/15/2008) Total said today it has acquired a high performance computer that significantly enhances its ability to process data... Brazil puts Rounds 8 & 10 on indefinite hold (5/15/2008) Brazil's Ministry of Mines and Energy today advised there will be no new licensing rounds in the foreseeable future... Indian oilfield workers kidnapped from Sudan field (5/15/2008) Four oilfield workers were seized from the Heglig Field in Sudan's South Kordofan region by unknown kidnappers this morning... VetcoGray wins Gorgon subsea contract off Australia (5/15/2008) GE Oil & Gas' VetcoGray today reported receiving an award for a five-year frame agreement to supply subsea equipment... Nautical farms out stake in North Sea block to Canamens (5/15/2008) Nautical Petroleum today reported it has agreed to farmout an interest in its Block 8/25a in the UK North Sea... Queensland's Waggamba gets big producer (5/15/2008) Mosaic Oil reported today the five-day extended flowtest of its Waggamba-4H horizontal development well has been completed... Contango drills another Louisiana Mary Rose producer (5/14/2008) Contango Oil & Gas said today it has drilled its fourth well on its Mary Rose prospect in Louisiana state waters... Northern gets okay to drill onshore UK test in West Sussex (5/14/2008) Northern Petroleum said today it has received planning approval to drill from a site in West Sussex, UK to the north... Africa Oil buys into Wilton's Madagascar acreage (5/14/2008) Africa Oil Exploration reported today it has acquired a stake in Wilton Petroleum with an option to acquire the remaining ownership... Inpex hefts Indonesia's Masela Block reserves to 10 Tcf (5/14/2008) Inpex Holdings is reported today to have advised Indonesia's oil and gas regulator BPMigas that its Indonesian Timor Sea block... Petronas picks up three Uzbek field PSAs (5/14/2008) Malaysia's national oil and gas company, Petroliam Nasional (Petronas), reported today it has concluded an agreement... Diver rescue facilitated by Discoverer Deep Seas crew (5/14/2008) A member of a dive crew working in the US Gulf of Mexico's Grand Isle Block 82 below an oil rig was reported missing yesterday... Dockwise wins 3 more contracts worth $36 million (5/14/2008) Dockwise said today it has received three new contracts via its subsidiaries Dockwise Shipping and ODL... Woodside completes acquisition of Shell NWS assets (5/14/2008) Woodside Petroleum advised today it has completed the purchase of Shell Development (Australia) North West Shelf oil interests... Petroceltic to enter Algeria's Isarene Permit 2nd phase (5/14/2008) Petroceltic International said today it has obtained approval from Algeria's Ministry of Energy and Mines to commence... Gulf Coast Western & Ventum Mandalay drilling Louisiana well (5/14/2008) Gulf Coast Western said today it will partner with Ventum Mandalay to drill the Gibbstown Bridge prospect onshore Louisiana... Petsec Main Pass 270 Field shut-in due to pipeline blockage (5/14/2008) Petsec Energy today revealed its US Gulf of Mexico Main Pass 270 Field has been shut in since 19 April due to a stuck pig... Austin adds 11th well to Kentucky development (5/14/2008) Austin Exploration said today it has achieved the completion of its 11th successful gaswell in its Park City project in Kentucky... Gazprom takes 9 strategic blocks on- and offshore Russia (5/14/2008) The Russian Ministry of Natural Resources revealed today nine blocks classified as strategic and off limits to foreign companies... Pan Andean kicks off Columbia 2D shoot (5/14/2008) Pan Andean Resources today reported it has begun a 2D seismic survey over its concession in Colombia's Middle Magdalena... Noble confirms Benita discovery in Equatorial Guinea (5/14/2008) PA Resources reported today operator Noble Energy has successfully appraised the Benita discovery... Toreador's Szolnok well in Hungary a dud (5/14/2008) Toreador Resources revealed today the Nko-Ny-1 exploration well in Hungary's Szolnok Block has failed to find hydrocarbons... Service vessel commandeered off Niger Delta (5/14/2008) Unidentified gunmen seized a service and supply boat and its crew of nine Nigerians, one Portuguese, and one Ukrainian... Technip contracted for Oilexco subsea services (5/14/2008) Technip said today it has been awarded by Oilexco North Sea a frame agreement for subsea services in the UK North Sea... Cairn to commence 2D seismic shoot off Greenland (5/14/2008) Cairn Energy reported today it intends to begin 2D seismic acquisition off Greenland in the second half of the year... BG makes small discovery near Norway's Varg Field (5/14/2008) The Norwegian Petroleum Directorate today revealed BG Norge has made an oil discovery with its Phi-North exploration well... 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 Increased stocks & less supply worries cut key prices (5/14/2008) After further roller-coaster price rides this week and last week, both the London InterContinental Exchange and the New York Mercantile Exchange sent prices down on all but a couple of our monitored benchmarks today on the strength of the US Energy Department's Energy Information Administration report this morning that showed a 1.4 million bbl boost in distillate stocks last week even though the rise in crude oil inventories was just...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. 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