How we bribe community leaders to allow us vandalise pipelines, Suspect

A petroleum products pipeline vandalisation suspect, Kabiru Akinsanya, has said that his gang usually bribed community leaders whenever they wanted to break any pipeline.Akinsanya, who was discovered to have been in the illicit business for two years, disclosed that his gang usually filled over a hundred 50 litre cans during each operation.He said: “We sell each gallon of 50 litres for N2,000 or

OPEC daily basket price close at $107.20/b

The price of OPEC basket of twelve crudes stood at 107.20 dollars a barrel on Wednesday, compared with $107.66 the previous day, according to OPEC Secretariat calculations.The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es

SURE-P Chairman under fire for poor performance

The joint Senate and House of Representatives Committees on Petroleum Downstream), have criticized Dr Christopher Kolade, Chaiman of the Subsidy Re-investment and empowerment Progrmme, SURE-P, over poor performance.Dr Kolade incurred the wrath of the two sister committees when he appeared before them to defend the agency’s budget.The lawmakers wondered how the body spent close to N40 billion of

Youths disrupt Pan Ocean operations over planned relocation of flowstation

Angry youths in Abavo kingdom, Delta State, have disrupted activities of Pan Ocean Corporation operating in the area, after they accused the company of alleged attempt to relocate a flow station in OPL 275 to a non-oil producing community, called Owalidima.The youths said the the company had remained adamant even after 56 host communities and the Delta State Government agreed that the flow

Arms shipment to Nigeria: British arms dealer jailed

A British arms dealer who helped ship thousands of guns plus ammunition from China to Nigeria without a licence was jailed for seven years at a London court on Wednesday.Gary Hyde, 43, was involved in the transfer of 40,000 AK47 assault rifles, 30,000 other rifles and 10,000 nine-millimetre pistols to the west African nation along with 32 million rounds of ammunition.He was convicted on two

Chevron announces $36.7bn budget for 2013

Chevron Corporation, Thursday, announced a $36.7 billion capital and exploratory investment programme for 2013.Included in the 2013 programme are $3.3 billion of planned expenditures by affiliates, which do not require cash outlays by Chevron.“Consistent with long-stated strategies, we’re investing in a portfolio of very attractive oil and gas projects that will deliver volume growth and real

Uganda passes long-awaited Oil Bill

After nearly a year of back-and-forth parliamentary deliberations, the Ugandan parliament Friday passed the long-awaited upstream oil bill, boosting its desire to transit from oil exploration to the production phase.


Ruling National Resistance Movement party law makers voted to pass the bill after forcing through an amendment reinstating a clause that gives the oil minister powers to solely

Bayelsa, Rivers carry oil well feud to Eko 2012

The bad blood brewing between Bayelsa and Rivers States over oil wells in neighboring communities seem to have boiled over to the 18th National Sports Festival in Lagos.The bone of contention was a Bayelsa State swimmer who was snatched by Rivers State.The athlete in question won gold in her event and Bayelsa State officials launched a protest immediately, claiming that the swimmer was ineligible

Total donates hospital equipment

The University of Port Harcourt Teaching Hospital (UPTH) has become the latest beneficiary of Total’s Corporate Social Responsibility initiatives with the commissioning and handover of a modern emergency room equipment by the company on Friday, November 23, 2012.The state of the art equipment donated are: 2 Defibrillators, 1 Ultrasound Scanner, 1 Mobile X-ray machine, 5 Ventilators, 1 EGC machine

Financial market update

Local and international financial market update.Nigeria - Nigeria is pushing to reverse years of neglect of its agriculture and mining industries by revamping railways n a big to reduce the economy’s dependence on oil. It is planned to spend more than USD3 billion to build about 300 kms rail lines over the next three years.USA - Service industries in the US unexpectedly grew at a faster pace in

PIB will engage host communities in oil, gas security – Allison-Madueke

Minister of Petroleum Resources, Mrs Diezeani Allison-Madueke, said in Abuja on Tuesday that the proposed Petroleum Industry Bill (PIB) will encourage host communities to protect oil and gas infrastructure in their area.Speaking at the 18th Nigeria Economic Summit during a panel discussion on the “PIB and the Future of Nigeria’s Oil Industry, the minister said: “We have created a mechanism to

Financial Market Update

Financial Market UpdateLagos - Local and international financial market update.Nigeria - Standard & Poor’s (S&P) has raised the long-term counterparty credit ratings on First Bank of Nigeria Plc , Zenith Bank Plc, and Guaranty Trust Bank Plc to ‘BB-’ from ‘B+’. The firm said also raised the long-term Nigeria national scale ratings on the three lenders to ‘ngAA-’ from ‘ngA+’, adding that the

OPEC daily basket price close at $106.59/b

OPEC daily basket price close at $106.59/bVienna, Austria - The price of OPEC basket of twelve crudes stood at 106.59 dollars a barrel on Monday, compared with $105.21 the previous Friday, according to OPEC Secretariat calculations.The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic

NNPC woos investors for untapped oil basins

NNPC woos investors for untapped oil basinsLagos - Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mr. Andrew Yakubu, has urged potential investors to tap into the nation’s yet-to-be explored oil basins, including the offshore and inland basins.Yakubu said, in a statement by his acting Group General Manager, Public Affairs, Mr. Fidel Pepple, that geological

Urine-powered Generator Unveiled

Four Nigerian girls have created a generator that produces electricity for six hours using a single liter of urine as fuel.The generator was unveiled at last week’s Maker Faire in Lagos, Nigeria, by the four teens Duro-Aina Adebola, Akindele Abiola, and Faleke Oluwatoyin, all age 14, and Bello Eniola, 15. So how exactly does the urine-powered generator work?Urine is put into an electrolytic cell,

Afren profit up from increased Nigerian output

Afren profit up from increased Nigerian outputLondon - AFREN, the UK firm with operations in Nigeria, has seen its profit rise following increased production off Nigeria.Profit doubled at Africa and Middle East-focused Afren in the first nine months but some financial items dented vastly-improved revenues.The company posted net profit in the first three quarters of $122.8 million as compared with

Sudan: UN expert to assess situation of internally displaced persons

Sudan: UN expert to assess situation of internally displaced personsGeneva, Switzerland - United Nations Special Rapporteur Chaloka Beyani will visit Sudan, at the invitation of the Government, from 14 to 22 November 2012 to examine the overall situation of internally displaced persons in the country, and gather first-hand information from displaced persons and affected communities.“I will

NOSDRA estimates Mobil oil spill at 100 barrels

NOSDRA estimates Mobil oil spill at 100 barrelsLagos - Nigeria’s National Oil Spills Detection and Response Agency, NOSDRA, has estimated the lastest oil spill from the facility of Mobil Producing Nigeria, MPN, an ExxonMobil subsidiary, in Ibeno, Akwa Ibom State at 50 to 100 barrels.“We received a report from Mobil that there was a spill at their field and we have dispatched our officers from our

ECOWAS supports Nigerian flood victims with $382,000

ECOWAS supports Nigerian flood victims with $382,000Abuja, Nigeria - The ECOWAS Commission has presented a cheque for US$382,000 to the Government of Nigeria to help mitigate the effects of the recent flood disaster which claimed several lives and caused substantial damage to property in parts of the country.“While I know that there is no volume of assistance that can bring back lives, we wish to

More facts emerge on Otumara flow station’s killings

More facts emerge on Otumara flow station’s killingsWarri - More facts have emerged on the recent killing of three persons during the clash for supremacy between two groups in Ugborodo community - host to the Otumara Flow Station. The groups are contending over leadership of the Ugborodo Trust Board.The two groups had since last year been laying claims to the leadership of Ugborodo Community

Technip grabs EPIC contract in Angola

French company, Technip, has landed an engineering, procurement, construction and commissioning, EPIC, contract from fellow French company Total for the second phase of the Girassol Resources Initiatives development project off Angola.

 
Total E&P Angola handed out the contract, covering the project management, engineering, fabrication and installation of 21 kilometres of umbilicals and 13

Fuel Queues Caused By Misinformation, Mischief, PENGASSAN

The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, said Thursday the incessant fuel queues in the country were a result of panic buying due to deliberate misinformation.Alhaji Sanusi Abdulkarim, the Kaduna Refinery and Petrochemical Company, KRPC, branch Chairman of PENGASSAN, stated this in an interview with the News Agency of Nigeria, NAN, in Kaduna.He was reacting to

Brent Crude Oil On Track For Third Weekly Fall

Brent crude oil held above $112 a barrel on Friday, but remained on track for its third weekly fall in five weeks as supply concerns diminished with the imminent restart of Britain’s largest oilfield, although easing worries about the global economic slowdown offered some support.December Brent crude edged down 5 cents at $112.37 a barrel early on Friday, on course for a near 2% loss this week.

Governors Allege Fraud In Sale Of PHCN Firms

Governors of four of Nigeria’s 36 states have described as fraudulent the recent sale of the Power Holding Company of Nigeria, PHCN, distribution companies, DISCOs, by the Bureau for Public Enterprises, BPE.They are Governors Adams Oshiomhole of Edo State, Emmanuel Uduaghan of Delta State, Kayode Fayemi of Ekiti State and Olusegun Mimiko of Ondo State.The four states, alongside their technical

Oil Flat As US Inventories Soar

Rising US crude oil and gasoline stockpiles and tepid global demand for petroleum in its wake in its wake has forced crude oil prices down.US RBOB gasoline futures led the retreat, dropping more than 2%, pressured by the Energy Information Administration’s weekly report showing inventories rose 1.72 million barrels last week, more than three times the consensus expectations, according to Reuters

Oil And Gas Jobs Near Two-Year High

A recent survey says vacancies in the world oil and gas industry have come back from a lull since last summer and is now nearing a two-year high which happened in May.According to the Hays Oil & Gas Global Job Index, a strong third quarter result despite some economic and seasonal headwinds for the industry.The survey indicated that the number of jobs posted on nine oil and gas websites hit its

NERC Alerts Electricity Users To PHCN Irregularities

The Nigerian Electricity Regulatory Commission, NERC, has advised electricity consumers to be alert to certain irregularities by some employees of Power Holding Company of Nigeria, PHCN.Giving the advice in Uyo, Dr Tony Akah, NERC’s General Manager, Government and Consumer Affairs, said the commission was aware that some PHCN officials compelled consumers to pay for transformers, electricity

OPEC Daily Basket Price Close At $109.77/b

The price of OPEC basket of twelve crudes stood at 109.77 dollars a barrel on Thursday, compared with $110.24 the previous day, according to OPEC Secretariat calculations.The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es

Mixed Reactions Trail Emergence Of Successful Bidders For PHCN Firms

Mixed reactions have trailed announcement earlier this week of the successsful companies that won the technical and financial bid for the eleven Power Holding Company of Nigeria, PHCN, distribution companies, DISCOs.Chairman, Technical Committee of the National Council on Privatisation, Mr. Atedo Peterside, unveiled the sucessful bidders, Monday, in Abuja.Industry watchers in Enugu, the original

Agip Donates Relief Materials To Bayelsa

Nigerian Agip Oil Company (NAOC) has donated relief materials worth millions of naira to the Bayelsa State government for victims of the flood disaster in the state.Presenting the relief materials to the state government, the Managing Director of NAOC, Ciro Pagano who was represented by Geovani Salvini said the gesture is to identify with displaced victims of the flood.“We understand the enormous

Nigeria Set To Revive Coal Industry

The Nigerian government has set machinery in motion for the revival of the nation’s coal industry, in view of its potentials to drive economic growth through energy generation.Managing Director of the Nigerian Coal Corporation, NCC, Mr Evarist Chinyeremaka Ibe, disclosed this in an exclusive interview with Sweetcrude in Enugu.According to Ibe, who assumed office as chief executive officer of the

Lukoil Inks Agreement On Offshore Block In Cote-d’Ivoire

Russia’s Lukoil Overseas, subsidiary of Lukoil, has signed a production sharing agreement with the government of Cote-d’Ivoire on the offshore block CI-524 in the Gulf of Guinea.Block CI-524 covering the area of 450 square kilometres in water depth ranging from 800 to 1,500 metres represents an eastern part of block CI-401 which Lukoil Overseas has been exploring since 2006.Lukoil Oversea is the

Financial Market Update

Local and international financial market update.GBP: BOE-MPC monetary policy decision came unchanged as expected, and the sterling was the beneficiary of a EUR led rally, primarily on the back of Draghi reiterating their readiness to purchase sovereign bonds of the periphery… Cable trades to a high of 1.6203 before meeting some good resistance… Overall picture looks bullish for the pair in the

US’ Marathon Enters Ethiopia, Acquires Oil Block

US company, Marathon Oil Corporation, has announced its entry into a sale and purchase agreement with Agriterra to acquire its 20-percent working interest in the South Omo concession in Ethiopia.The deal further underscores the growing importance of the East African region to international oil businesses.Marathon and Agriterra expect to close the transaction, subject to completion of the

Flood: Governor Dickson Orders Evacuation Of Indigenes Of Biseni Clan

Disturbed by the rising water levels in the various communities ravaged by flood, Bayelsa State Governor, Seriake Dickson has ordered the immediate evacuation of persons living in all the seven communities of Biseni in Yenagoa local government area of the state.Also to be evacuated according to a statement signed by the Chief Press Secretary to the Governor, Daniel Iworiso-Markson, yesterday

KBR Wins Tanzania LNG Contract

KBR says it has been awarded a contract by Statoil Tanzania AS to perform pre-front end engineering and design, pre-FEED, studies for a prospective liquefied natural gas, LNG, facility in Tanzania.The pre-FEED study is designed to help Statoil further assess the viability of developing an LNG facility to export natural gas from this East African region. The project is expected to be completed in

OPEC Daily Basket Price Close At $106.99/b

The price of OPEC basket of twelve crudes stood at 106.99 dollars a barrel on Thursday, compared with $107.08 the previous day, according to OPEC Secretariat calculations.The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es

Europe May Ban Iran Gas

Reports say the European Union could be set to put more pressure on sanctions-hit Iran by banning gas imports from the country.If this happens, it will be another big blow to Iran following international oil sanctions which have this week led to a sharp drop in the local currency, the rial, against the US dollar.Reuters reported on Thursday that EU diplomats have started to put together plans to

Sanusi Faults Review Of Crude Oil Benchmark For 2013 Budget

Governor of the Central Bank of Nigeria, CBN, Sanusi Lamido Sanusi, has kicked against proposals by members of the House of Representatives that the proposed crude oil benchmark of 75 dollar per barrel for the 2013 budget be reviewed upward.He said the benchmark was not an issue but production of more oil, which will bring more money into the federation account.Sanusi said: “Benchmark does not

NNPC Unveils SAP To Integrate Processes & Systems

A major milestone in the drive to transform the Nigerian National Petroleum Corporation, NNPC, into a first grade national oil company was attained on Wednesday with the official cut-over (launch) to the System Application Products also known as SAP, to effectively launch the Corporation into the league of major global companies that run the SAP business solution.The Solution which came on live

Flood: Presidential Committee On Flood Disaster Envisage Food Scarcity

The Minister of Environment and Chairman, Presidential Committee on Flood Disaster Area, Hajia Hadiza Ibrahim Mailafia yesterday toured the devastated communities in Bayelsa State describing this year’s flood as a national emergency capable of affecting food production across the country.Virtually all the communities along the bank of rivers in the state including Toru-Orua, the hometown of the

Oil Thieves Threaten Pipeline Surveillance Workers In Delta

Oil thieves and barons have threatened the lives of top officials and workers of Oil Facility Surveillance Limited, OFSL, Warri, Delta State, a pipeline surveillance company contracted by the Nigerian National Petroleum Corporation, NNPC, to police the facilities in the state, for allegedly demolishing their illegal refineries.Ex-militant leader, Chief Government Ekpemupolo, alias Tompolo, is

NNPC Launches Greater Domestic Gas Utilisation Programme

The Nigerian National Petroleum Corporation, NNPC, said, Thursday, that it is pursuing a greater domestic gas utilisation programme to rapidly drive the nation’s economic growth.Acting Group General Manager, Group Public Affairs Division, Mr. Fidel Pepple, in a statement disclosed that the move to pursue greater domestic gas utilisation programme is informed by government’s transformation agenda

Nigeria’s Excess Crude Oil Funds Hit $8.03bn

Nigeria’s Excess Crude Account savings rose significantly in August to $8.03 billion, over $1 billion more than the savings in June.Briefing the media at the end of the month’s Federation Accounts Allocation Committee, FAAC, meeting on Friday in Abuja, Accountant General of the Federation, Jonah Otunla, confirmed that the three tiers of government shared N570.61 billion from gross revenue of

Total To Drill First Ugandan Exploration Well By Year-end

French oil giant, Total, will drill its first oil exploration well in Uganda’s oil-rich Lake Albertine rift basin before the end of this year.The company is currently making efforts to determine the size of oil reserves in its exploration block in the country, a company executive told Dow Jones Newswires.Last week, Total received government approval to conduct a seismic survey and is continuing

Ex-Minister, Ihenacho, Arrested Over Stolen Petroleum Products

Former Minister of Interior and owner of Integrated Oil and Gas Limited, Captain Emmanuel Iheanacho, was, Friday, arrested over his involvement in the hijack of a vessel, M.T. Grace, laden with suspected stolen petroleum products.Disclosing this to newsmen in Lagos, Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Mr. Patrick Akpobolokemi said that the search

Nigeria Loses Bid To Tax $559m Halliburton Bribe Fine

Nigeria, Friday, lost its bid to get part of the $559 million (about N89. 44 billion) fine imposed by the US Government on Halliburton Energy Services Ltd for offering bribe to Nigerian officials in its effort to secure the Nigeria Liquefied Natural Gas, NLNG, contract.The government through the Federal Inland Revenue Services, FIRS, had written to Halliburton Energy Services Nig. Ltd., in 2009,

NNPC, Shell, Others To Reconcile Oil Payments With NEITI

The Nigeria Extractive Industries Transparency Initiative, NEITI, has invited the Nigerian National Petroleum Corporation, NNPC, and some oil companies operating in the country including Shell, to reconcile their record of payments to the government.NEITI also sent out the invitation to all companies and government agencies involved in payment and receipt of revenue from Nigeria’s petroleum

Brent Rises Above $116

UK premium crude, the Brent, rose for the seventh straight session on Friday, climbing above $116 a barrel bouyed by hopes for stronger global demand for oil after the US Federal Reserve launched an aggressive programme to stimulate the economy.Brent crude for November delivery, which took over as the front-month contract on Friday, climbed 56 cents to $116.44 a barrel after rising 94 cents the

Onshore-offshore Oil Debate Settled, Nigeria Govt

Nigeria's Attorney General and Minister of Justice, Mohammed Bello Adoke, SAN, has given reasons why the controversial issue of onshore-offshore dichotomy in the allocation of derivation proceeds in the country cannot be revisited by the Federal Government.The Attorney General of the Federation, AGF, maintained that the matter had been laid to rest by the Supreme Court since 2005.He warned

Oando Energy Resources lists on Toronto Stock Exchange

Oando Plc says it has completed the reverse takeover of Oando Energy Resources Incorporated, OER, formerly known as Exile Resources Incorporated with the listing of the company’s shares on Toronto Stock Exchange, TSX.Following the development, Oando Group has become the only company in Nigeria with three trans-border listings – the Nigerian Stock Exchange, NSE, the Johannesburg Stock Exchange,

Analyst Action: RBC D-S Raises Price Target on Agnico-Eagle Mines

Agnico-Eagle Mines Ltd. (AEM.TO) has "re-established market confidence" by meeting, and in some cases exceeding, expectationsfor its first-half results, an accomplishment many of its North American peers have failed to achieve, said RBC Dominion Securitiesanalyst Stephen D. Walker in the Globe & Mail.There's potential for modest near-term production growth and the company is generating sufficient

Gold, Silver and Crude Oil Trading Update

Gold futures prices finished pit trade lower Thursday, on consolidation action. The Key outside markets were in a Bearish mode for the precious metals, as the USD index was firmer and Crude Oil prices were lower.The overall market is quiet as traders and investors await a speech by US Federal Reserve Chairman Ben Bernanke Friday morning.Dec Gold last traded off 4.50 at 1,658.50 oz.Spot Gold was

Latin American Stocks Mostly Lower; Global Data, Spanish Reticence Sends All But Mexico Sliding

Latin American markets are mostly lower, although Mexican stocksare managing to remain pretty steady, extending their strongshowing this summer. Traders appear to be taking their cues frommarkets elsewhere, which are mostly lower following lacklusterGerman and Japanese economic data and Spain balking at a bailout ofits struggling financial system until it receives more informationon its

Natural Gas Update

Natural gas prices generally registered overall decreases for the report week (Wednesday to Wednesday) at many of the country's trading locations.The Henry Hub price, which remained fairly steady through much of the week, dropped 8 cents per million British thermal units (MMBtu) on Tuesday and an additional 9 cents per MMBtu yesterday, closing at $2.63 per MMBtu (down 17 cents per MMBtu for the

Kanosak Files Qualifying Transaction on Acquisition of Amseco

Kanosak Venture Capital Corporation (KKV-P.V) has filed astatement on SEDAR in connection with its qualifying transactionconsisting of the acquisition of all rights, title and interestsheld by Amseco Exploration Ltd. in copper, gold and silverprospects at Yasinski Lake, Quebec . The acquisition was previouslyannounced on March 20, 2012.As consideration for the acquisition, the corporation will

Analyst Bets On Extraordinary Science And Clinical Data

Analyst Bets on Extraordinary Science and Clinical Data: Greg Wade Managing Director Greg Wade of Wedbush Securities doesn't use a cookie-cutter approach to picking biotechnology stocks. He directs investors to companies with strong science, well-executed clinical studies and data that points toward future success. In this exclusive interview with The Life Sciences Report , Wade shares his

Oil on Second Day of Losses Ahead of Bernanke Speech: Report

Oil futures on Thursday extended losses into a second day, underpressure ahead of a highly awaited meeting of central bankers andafter Hurricane Isaac left the Gulf of Mexico's energy industryrelatively unscathed, MarketWatch reported.Oil for October delivery dropped 87 cents, or 0.9%, to $94.62 abarrel on the New York Mercantile Exchange.That added to Wednesday's decline, precipitated by a

Yingli Green Q2 Revenues Miss Estimates; Shares Plunge Near 10%, Nearer To Yr Lows

Yingli Green Energy Holding Company Limited (YGE) is down near 10% after the company late yesterday reported Q22012 net loss of RMB 573.0 million (US$90.2 million), or RMB 3.66(US$0.58) per share, compared to a net income of RMB 375.6 million.Revenues were RMB 3,103.5 million (US$488.5 million), compared tothe US$489.4 million estimate.In the same period last year, revenues were RMB

Alberta Says Budget Deficit to Widen on Lower Oil Price

Alberta will record a wider budget deficit in the fiscal yearthat began Apr. 1 because of declining revenue from oil, FinanceMinister Doug Horner said in a Bloomberg report.The deficit will widen to a range between $2.3 billion and $3billion, up from an original forecast of $886 million, Horner saidon a conference call with media from the provincial capital ofEdmonton. The province's outlook for

This Is Your Energy Entry Point: Mark Lackey

This Is Your Energy Entry Point: Mark Lackey Oil prices are starting to creep back up while gas, coal and uranium are poised for moves this fall, according to Mark Lackey, long-time energy analyst now representing resource companies with the IR firm of CHF Investor Relations.In this exclusive interview with The Energy Report , Mark shares his current insights on energy markets and talks about a

Petroamerica Provides an Update on the Las Maracas-4 Well Results Production, Shares At Yr High

Petroamerica Oil Corp. (PTA.V) shares are currently trading at 19.5 cents, a yr high. The shares have climbed more than 18% today. The companyyesterday announced preliminary results of its Las Maracas-4 welldrilled on the Los Ocarros Block in the Llanos Basin of Colombia.The well was spud on July 30, 2012 and has reached total depth withelectrical logs indicating more than 65 feet of prospective

TSX Closes Up Near 60 Pts On Canada CPI, Reports of German Approval For ECB

Canada's main stock market extended gains Friday, a day after itbreached the 12,000 level for the first time since early May,buoyed by domestic and European economic news. It closed up nearly 60 points at day highs.On the home front, the relative health of the Canadian economywas highlighted as Statistics Canada revealed early today theconsumer price index advanced 1.3% in July from a year ago,

Wallbridge Terminates Booth River Option; Shares Hit New Year Lows

Wallbridge Mining Company Limited (WM.TO) has terminated itsagreement with 4763 NWT Ltd., pursuant to which Wallbridge wasgranted the option to acquire a 100% interest of certain mineralclaims located in Nunavut, Canada.Management has determined that in the current economic climateshareholders are best served by concentrating efforts on advancingthe company's platinum, palladium, nickel and

Arcan Resources Q2 Profit Rises to 8 Cents/Shr From Year-Earlier 5 Cents; Shares Extend Gains

Arcan Resources Ltd. (ARN.V) reported net income per share of 8cents in its second quarter, improving from 5 cents a year ago. Cash flow from operations improved to $16.4 million from $10.1million, as production rose to 5,254 barrels of oil equivalent perday from 2,695 barrels.Investors are reacting positively to the news, with the stock up1.4% at $1.45 at the start of Toronto trading. Shares

US Drought Subsiding, Slightly, But The Damage Is Done

America's worst drought in more than 50 years seems to be subsiding, slightly, as summer starts to wind down in the northern parts of the country and rain comes to the parched Southeast, according to the latest weekly U.S. Drought Monitor report.The U.S. Dept. of Agriculture estimates that 61.8 percent of the country's 48 contiguous states (excluding Hawaii and Alaska) are still under abnormally

Macro Enterprises Announces 2012 Second Quarter Results; Shares At Yr High

Macro Enterprises (MCR.V) today reported its 2012 2Q Results.Second quarter resultsConsolidated revenue was $27.8 million compared to $14.7 millionin the second quarter last year. The Company worked on two largerfacility projects in the quarter and several smaller jobs. In thesecond quarter last year, the Company worked on one larger facilityproject and several smaller jobs.Operating expenses

AMI Resources Reports that Newmont Terminates Option on Anuoro License

AMI Resources Inc. (AMU.V) has received from Newmont Ghana GoldLimited a Notice of Termination of the Option Agreement to earn aninterest in the Anuoro prospecting license in Ghana. Under theagreement, Newmont Ghana will provide the Company with a final datapackage of all their exploration programs on Anuoro.The majority of Newmont's work was concentrated in the northernportion of the Anuoro

Frontier Markets Harbor High-Reward Investment Opportunities: Carlos Andres

Frontier Markets Harbor High-Reward Investment Opportunities: Carlos Andres, theaureport.com/pub/na/14044.Select frontier markets, once eyed skeptically as fraught with danger, are now some of the most robust economies in the world. But the shares of companies exploring and producing in these markets often continue to lag based on long-held fears that are no longer valid. How does an investor

Enbridge Boss Calls Pipeline Safety Record Near Perfect, but Pledges Improvement: Report

The company proposing an oil pipeline across northern B.C. isdefending its safety record, which has come under attack over itsresponse to an oil spill in Michigan, Canadian Press reports.The president of Calgary-based Enbridge (ENB.TO) says in astatement issued today the company has the largest and most complexliquids pipeline system in the world, a system it operates with a99.999% safety

North American drill rig count falls

North American drill rig count fallsBHI, HAL, SLB, OIHBaker Hughes Incorporated ( BHI ) has announced that despite the rise in Crude Oil prices, its count on rigs fell in the last week.The services firm reported that the North American rig count totaled 2,233, down from 2,262 the week before and down from 2,354 in the same period a year ago. The drop reflected a decline of 33 oil rigs and 2 Nat

US Agriculture, Soy, Corn, Wheat Prices and Charts

US Agriculture, after the Closing Bell ReportWheat futures ended with gains in the teens to 0.20+ at all 3 exchanges. Wheat futures still ended lower on the week. Futures proved this week they need the Corn market for support. That will very likely remain the case next week, meaning focus on Corn crop size will be the primary fundamental for Wheat.Corn futures ended the week with slight gains

Teuton Resources Private Placement Oversubscribed, Increased to $1.3 Million

Teuton Resources Corp. (TUO.V) announced today that the privateplacement announced June 12, 2012 and amended June 28, 2012 hasbeen completed, subject to regulatory approval. Due to strongdemand it was oversubscribed again.The placement, which was originally increased from $576,000 to$960,000, has now been completed at $1,334,640.Funds will be used to further exploration of its many propertiesin

Energy Sector Updates

Energy stocks are higher this afternoon with the NYSE EnergySector Index climbing over 3.0%, buoyed by broader news on thestate of the economy after the Labor Department reported a surprisenet increase in new job hires during July. The S&P Energy Indexis up about 2.8% with crude oil for September delivery up now upover 5%, climbing $4.51 to $91.63 a barrel in NYMEX trade.In company news, Union

TSX in Triple Digit Surge on Strong U.S. Jobs Report

The Toronto stock market posted solid triple digit gains inafternoon trading after the U.S. July jobs report came in betterthan expected.The S&P/TSX Composite Index advanced 158 points to 11,664,after peaking at 11,687 earlier, as total U.S. nonfarm payrollsrose by 163,000, stronger than the 100,000 gain that wasprojected.All of the TSX's sub-sectors were higher, led by energy andmaterials, both

Oil Surges Most in a Month as U.S. Adds Jobs, Services

Weekly Fundamentals, Brent Continues to Outperfom WTI on Iran Supply and Forties Output Cut

While moving at a modestly bearish tone for most of the week, financial markets strengthened on Friday as the US non-farm payrolls beat expectations. The number of jobs gained +163K in July, up from the downwardly revised +63K a month ago.The market had anticipated the July addition would be +100K. The unemployment rate climbed higher to 8.3% in July, as the number of unemployed increased by +45K

Energy Stocks, Crude Oil Higher This Afternoon; Union Drilling Soars On Reversing Year-Ago Net Loss, Surprises Street

Top Energy StocksXOM +1.9%, near year highsCVX +2.0%, near year highsCOP +2%SLB +2.5%OXY +3.9%Energy stocks are higher this afternoon with the NYSE EnergySector Index climbing nearly 3.0% on positive sentiment after theLabor Department reported a surprise net increase in new job hiresduring July. The S&P Energy Index is up about 2.8% with crudeoil for September delivery up nearly 4%, climbing

Oil hit with strong selling in risk off trading session

So much for the Spanish Bank bailout rally that began on Sunday night and abruptly ended by mid morning on Monday during US trading hours. There seems to be very little confidence in the ability of the EU to stem and solve all of the growing sovereign debt problems. The Spanish bailout program left a lot of details yet to be determined which made market participants very nervous and uncertain as

Parkland Fuel Downgraded By CIBC To 'Sector Performer' On Valuation

CIBC World Markets Inc. analyst Kevin Chiang downgraded his rating on shares of Parkland Fuel Corp. (TSE:PKI) to "Sector Performer" from "Sector Outperformer" due to valuation.The brokerage maintained its $15.00 price target, which reflects a total return of 13% (including its $1.02 annual dividend), and is in-line with its "Sector Performer" rating.While PKI has improved its transparency, Chiang

NG drifting lower

Nat Gas never got caught up in the global Spanish bailout rally nor is it currently getting hit with the sell-off as the rally faded this morning. Nat Gas is still reeling after last week's 6 BCF greater than the expected injection report. Not much has changed in the Nat Gas market over the last week or so. We are now in the summer cooling season with the eastern half of the country to experience

Plains All American: Pipeline Potential

Based in Houston, Plains All American Pipeline (PAA) is a publicly traded limited partnership that transports, stores and markets crude oil and other refined products, including liquefied natural gas. Its diversified portfolio plays a vital role in the movement of U.S. and Canadian energy supplies.The partnership transports more than 3 million barrels of crude and other refined products a day

Another Sign Oil Prices Don't Reflect Reality

Why are crude oil futures for delivery three years from now $30 cheaper, or almost $1 a gallon less, than current oil prices?More from Daniel Dicker, Senior Contributor OPEC Can't Get Along, And That's GoodWall Street Blew It: The Real Tragedy of the FB IPODicker: Look Offshore for Real Value Real Money Previews Rally Runs Its Course How long can the rip-your-face-apart rally continue to unfold?

US quarterly oil output hits highest level in 14 yrs

The oil boom in North Dakota and Texas has helped push U.S. quarterly crude output over 6 million barrels per day for the first time in 14 years, the government said on Friday.View All Market CommentaryDisclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy.Neither the information nor any opinion expressed

Morning Natural Gas Market Report

July natural gas prices registered a lower low in early morning action and fell to their lowest level since April 27. Yesterdays EIA storage report showed a slightly larger than expected injection of 62 bcf and brought total storage to 2,877 bcf or 31.4% above the 5 year average.Over the last four weeks natural gas storage has increased 271 bcf. While the latest weather maps continue to show a

A Primer on Post-2008 Risk Management

Perusing The New York Times mobile site, as I do on infrequent mornings when I'm not by my hard copy, I came across this piece on risk, asset diversity and retirement by Tara Siegel Bernard. The article tried to use the recent JPMorgan Chase (JPM) $3 billion trading loss as an example of mistaken risk management that common investors might learn from. On that premise alone, the piece was silly.

Saudi Oil Moves: A Drop in the Bucket?

Saudi Arabia is doing everything it can to cool an overheated crude oil market. But the verdict has yet to come in on whether the Saudis will be able single-handedly to drop energy and gas prices for everyone. More from Daniel Dicker, Senior Contributor OPEC Can't Get Along, And That's GoodWall Street Blew It: The Real Tragedy of the FB IPODicker: Look Offshore for Real Value Real Money Previews

Morning Heating Oil Market Report

July heating oil prices traded lower in overnight action and fell to a fresh three session low in the process. Further declines in Brent crude oil and a risk-off environment in outside markets seemed to put added pressure on heating oil prices this morning.It is also possible that reports that China is planning to cut diesel prices this weekend by nearly 6.0% presents an added negative for the

OPEC Can't Get Along, And That's Good

At the upcoming OPEC meeting in Vienna on June 14, members will have a lot to talk about. Oil prices have been dropping like a stone and not only because of the bad economic numbers coming out of Europe and China. There's been also been dissent among the OPEC members, particularly Saudi Arabia and Iran. More on Investing Natural Gas Will Dictate Oil Prices, Not Iranian Sanctions or OPECMicrosoft

U.S. dry natural gas production growth levels off following decline in natural gas prices

Sources: U.S. Energy Information Administration, Natural Gas Monthly. Henry Hub spot natural gas price (monthly average), based on Thomson ReutersU.S. dry natural gas production has increased since late 2005 due mainly to rapid growth in production from shale gas resources. However, there have been two notable instances (see red ovals in the chart) in the last seven years when natural gas

Dicker: Look Offshore for Real Value

I've been watching the late-spring market swoon through the prism of oil prices. Recently, I have written that oil price action, as bad as it's been, has been telling me to slowly start coming out of cash and into energy stocks. But where exactly? One place to look for some real value is with the offshore drilling companies.From a very wide, macro view, offshore drilling represents a great place

Transocean Jumps After Court Ruling: Now What?

A big, favorable legal decision was handed to Transocean(RIG) Thursday afternoon, causing shares to briefly hit $50 this morning, a level they haven't seen since November of last year and capping a nearly 30% rally from their lows under $40 in December of last year. But of course, the question for shareholders is, now what? For those who have already caught some of that 30% gain, now would be a

Marathon Oil: Strong Production Growth In US Shale Plays To Boost Earnings, Valuation

Marathon Oil Corp. (NYSE:MRO) is successfully progressing its repositioning strategy by increasing its investment focus on unconventional oil plays in North America with attractive returns, low risk, and long life reserves.Marathon Oil is an energy company engaged globally in oil and gas exploration and production (E&P). The company has more than 1.6 bboe of proved reserve and approximately 400

Bearish Action In Research In Motion Weeklies As Shares Extend Slide

Research in Motion, Ltd. (RIMM)– Thestruggling mobile phone maker's shares are in the single-digits today,down 5.75% this afternoon to $9.67, trading at their lowest level innearly a decade. Put buying and call selling in the weekly optionssuggests there is further pain ahead for RIMM shareholders. Traderspositioning to profit from further weakness in the price of theunderlying snapped up more

Hollyfrontier (HFC) Upgraded To 'Buy' By UBS On Compelling Valuation

HollyFrontier Corp. (NYSE:HFC) shares were upgraded to "Buy" from "Neutral" by UBS Securities following a 11 percent sell-off in the shares since mid-February.The brokerage, which has a price target of $35.00 on the stock, sees moderate upside to shares from the current level and views HFC's share holder yield and cash position as defensive elements to shares.The Dallas, Texas-based petroleum

U.S. Stocks Slide Ahead Of Jobs Data; Hot Stocks: JOY, FB, TIVO, CIEN, FFIV, TLB, END, LGF

U.S. stocks ended on a lower note ahead of the key government non-farm payrolls report due Friday, even as a slew of tepid economic readings dented sentiment.S&P 500 Index lost 0.23 percent to finish at 1,310.33. The Dow Jones Industrial Average shed 0.21 percent to end at 12,394.13. The Nasdaq Composite Index dropped 0.35 percent to close at 2,827.34.On the US economic front, a data showed that

Brean Murray Starts Penn Virginia (PVA) At 'Buy', $10 PT

Brean Murray, Carret & Co. analyst Raymond Deacon initiated coverage of Penn Virginia Corp. (NYSE:PVA) with a "Buy" rating and $10 price target, equal to 75% of his risked net asset value that assumes mid-cycle NYMEX benchmark prices of $85/Bbl crude oil and $4.00/MMBtu natural gas.Deacon said proceeds from the company's anticipated Granite Wash divestiture should shift market focus from

U.S. Stocks Closed Sharply Lower As Spain Weighs; Hot Stocks: CNC, DMND, OCR, ES, ZAZA, INMD, NOIZ

U.S. stocks closed on a sharply lower note amid concerns whether Europe's bailout plan for Spain's ailing banks will ease the country's debt crisis.S&P 500 Index shed 1.26 percent to finish at 1,308.93. The Dow Jones Industrial Average dropped 1.14 percent to end at 12,411.23. The Nasdaq Composite Index tumbled 1.70 percent to close at 2,809.73.With no U.S. economic data scheduled for the day and

Saudi cuts oil output in May to 9.8 mln bpd

Top oil exporter Saudi Arabia pumped 9.8 million barrels per day (bpd) of crude oil in May, cutting output by 300,000 bpd from the month before, an industry source said on Saturday.View All Market CommentaryDisclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion

China May commodities imports beat expectations; crude at record

China's imports of key commodities in May confounded expectations of a fall, with crude oil shipments at a record high and both copper and iron ore imports unexpectedly rising more than 10 percent from a month ago, data showed on Sunday.Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the

Recap Energy Market Report

July crude oil traded in negative territory throughout the session but managed to recoup a large portion of its early deficit by the close. Early weakness in the market appeared to come from uncertainty surrounding the European debt situation and ideas that crude oil supplies could be running ahead of demand.Into the early morning low, July crude oil prices were off more than $5.00 from

Morning Gasoline Market Report

July RBOB prices traded significantly lower in overnight and initial morning action, weighed down by a weak macroeconomic tone. Some traders also pointed to gains in the US dollar as another force pressuring prices lower.Meanwhile, there did seem to be a level of demand coming into the US gasoline market, with increased refiner-buying in the wake of recent outages.Disclaimer: The information in

U.S. Futures Slide On Global Worries; Hot Stocks: CHK, PRGS, FLT, MOH, MCD, BBY

U.S. stock index futures pointed to a lower open on the Wall Street amid disappointment over lack of signals from central bankers for further stimulus measures and weak European data.Mini Dow Industrial Average futures shed 52.00 points to 12,354.00. The Nasdaq Futures dipped 5.50 points to 2,525.00. Standard and Poor's 500 futures lost 3.90 points to 1,306.10.On the economic front, U.S. trade

iStock Of The Day-Halliburton Co (HAL)

Natural gas has been one of the more interesting markets over the last few years, where prices have been absolutely crushed after falling from an all-time high above $14 in the summer of 2008 to a recent long-term low below $2. That bearish movement has left a lot of people scratching their heads, but really, it's just a simple matter of supply.Unlike crude, the United States has absolutely

CIBC Upgrades Parex Resources To 'Sector Outperformer' In Anticipation Of Positive Exploration Well Results

CIBC World Markets Inc. upgraded its rating on shares of Parex Resources Inc. (TSE:PXT) to "Sector Outperformer" from "Sector Performer" on expectations of positive news flow and an incorporation of additional production volumes in its model.The Canadian oil and natural gas explorer issued an operational update ahead of its AGM on May 23. After two negative releases and two share price

Recap Energy Market Report

July crude oil traded in negative territory throughout the session but managed to recoup a large portion of its early deficit by the close. Early weakness in the market appeared to come from uncertainty surrounding the European debt situation and ideas that crude oil supplies could be running ahead of demand.Into the early morning low, July crude oil prices were off more than $5.00 from

Oil higher on Spanish Bank bailout

The week before last the market sentiment was bearish with little short term hope for any resolutions in Europe nor improvement in the global economy. Last week the market sentiment stated to change as talk of a Spanish bank bailout emerged. In addition China lowered short term interest rates to jump start its economy while talk of more stimulus in the form of another QE3 in the US dominated the

Petromagdalena Energy Downgraded To 'Sector Performer' By CIBC, PT Cut

CIBC World Markets Inc. analyst Ian Macqueen downgraded his rating on shares of  PetroMagdalena Energy Corp. (CVE:PMD) to "Sector Performer" from "Sector Outperformer" and lowered his price target to C$1.60 from C$2.Pacific Rubiales Energy (TSE:PRE) has offered to acquire all of the outstanding common shares of PetroMagdalena Energy for C$1.60/share in cash. This represents a about 38% premium on

Are We Headed Toward $5-a-Gallon Gas?

Here we go again. With gas prices spiking so early in the new year, it's easy to predict that the U.S. will see $4-a-gallon gas sometime this summer. I would even put the chances of $5 gasoline at one in three. More from Daniel Dicker, Senior Contributor OPEC Can't Get Along, And That's GoodWall Street Blew It: The Real Tragedy of the FB IPODicker: Look Offshore for Real Value Real Money Previews

Obama Has a Big Problem: Gas Prices

The biggest hurdle to President Obama's re-election is almost surely going to be the inevitable steady rise in gas prices over the summer. More from Daniel Dicker, Senior Contributor OPEC Can't Get Along, And That's GoodWall Street Blew It: The Real Tragedy of the FB IPODicker: Look Offshore for Real Value Real Money Previews Rally Runs Its Course How long can the rip-your-face-apart rally

U.S. Stocks Rise Over 2 Pct On Stimulus Hopes; Hot Stocks: TPX, CHK, MFRM, TUES, IRM, UNH, ACOM, MTN

U.S. stocks rallied, closing higher by over 2 percent, amid increasing hopes that central bankers will act to stimulate the struggling global economy. S&P 500 Index jumped 2.30 percent to finish at 1,315.13. The Dow Jones Industrial Average gained 2.37 percent to end at 12,414.79. The Nasdaq Composite Index rose 2.40 percent to close at 2,844.72. The U.S. economy expanded at a moderate pace,

Endeavour International (END) Closes North Sea Alba Field Deal; Shares Soar

Endeavour International Corp. (NYSE: END) has raised its total working interest in the Alba oil field in the UK central North Sea to 25.68 percent, and its shares shot up as much as 81 percent on Thursday.The Houston, Texas-based oil and gas company announced it has acquired the additional 23.43 percent working interest in the Alba field from ConocoPhillips (NYSE: COP), taking its total working

Oil Still Too Strong to Sell: Opinion

This oil market is acting far better than it should - far, far better. And for a lifelong trader of oil like me, that's about all one needs to be convinced that it's headed higher.More on XLE Natural Gas Will Dictate Oil Prices, Not Iranian Sanctions or OPECFixed Income ETFs Top Inflows Real Money Previews Rally Runs Its Course How long can the rip-your-face-apart rally continue to unfold?

Readers' Mailbox: Part One Covering GDX, SLV, CQP, APOL, EDMC, DECK, MSFT And BAC

The information in this article is iStock Analyst take on different stocks. It is not intended to be advice, recommendations or endorsements of any investment or investment vehicles. Investing involves risk and you should consult with a financial professional before investing any money.What's your take on GDX? Thanks, Bonnie.Market Vectors Gold Miners ETF's (GDX) chart doesn't look so good, not

Alpha Natural Resources (ANR) To Curtail Kentucky Mine Output, Says 'Uneconomic'

Alpha Natural Resources Inc. (NYSE:ANR) will cut back coal output from Kentucky mines, citing continued market pressures and new regulatory actions on coal-fired power plants.Abingdon, Virginia-based Alpha termed production from certain mines in northern and southern Kentucky business units "uneconomic" and the coal producer announced 150 job cuts in the affected sites.The company said the

Ferrellgas (FGP) 3Q Revenue Lags Estimates As Propane Sales Drop 11 Pct

Ferrellgas Partners L.P. (NYSE:FGP) reported a weaker-than-forecast quarterly revenue as warm temperatures had a negative impact on retail propane sales.The Overland Park, Kansas-based propane distributor earned $21.1 million or 26 cents per unit for the third quarter. In the year-ago quarter, FGP earned $3.4 million or 4 cents per unit, including a loss on extinguishment of debt of 14 cents a

El Paso Pipeline Partners (EPB) To Acquire Assets Worth $635M From General Partner

El Paso Pipeline Partners L.P. (NYSE:EPB) will be paying $635 million to acquire Cheyenne Plains Gas Pipeline Co LLC and additional interest in Colorado Interstate Gas LLC it does not already own from its general partner El Paso Corp. (NYSE:EP).The deal, which is expected to be completed alongside Kinder Morgan Inc.'s (NYSE: KMI) acquisition of El Paso Corp, will immediately add to El Paso

Morning Heating Oil Market Report

July heating oil prices traded lower in overnight action and fell to a fresh three session low in the process. Further declines in Brent crude oil and a risk-off environment in outside markets seemed to put added pressure on heating oil prices this morning.It is also possible that reports that China is planning to cut diesel prices this weekend by nearly 6.0% presents an added negative for the

Reader's Mailbox: iStock Answers Questions About FB, TTM, PG And GTE

Mike from NY, NY asks us about Facebook, Inc. (FB).It's a question on a lot of FB owners' minds. How many investors are going to defriend the stock? In case you don't know, Morgan Stanley cut their outlook on the company's revenue and earnings outlook prior to the IPO, drastically by one second-third hand account. From what we understand, Morgan Stanley only shared the info with large

Chesapeake Energy: Panic Sell-Off Creates Buying Opportunity

Shares of troubled oil and gas company Chesapeake Energy Corp. (NYSE:CHK) have plummeted 38 percent in the last three months and 17 percent in the last one month on relentless attacks by the media, deserved and undeserved, for excessive compensation of its CEO and board, lack of transparency and complex financial structure.Chesapeake shares have lost 32 percent this year, compared with 12 percent

Oil's Toughest Question

This last week has seen an avalanche of articles, papers and opinion pieces attacking the idea that oil and gasoline prices are affected by speculation, in response to President Obama's recent plan to try and bolster the enforcement resources of the Commodity Futures Trading Commission against speculation. More on Opinion 7 Predictions for Ethical LeadershipGoogle Has the Platform Problem, Not

U.S. Stocks End Mixed Amid Growth Worries; Hot Stocks: CHK, DAL, DNDN, GRPN, AUXL, CRED, MTOX

U.S. stocks ended on a mixed note after a surprise decline in domestic factory orders and a weak Chinese data worsened fears of an economic slowdown amid lingering worries over Europe's debt crisis.S&P 500 Index inched 0.01 percent higher to finish at 1,278.17. The Dow Jones Industrial Average dipped 0.14 percent to end at 12,101.39. The Nasdaq Composite Index lost 0.46 percent to close at

Alpha Natural Resources (ANR) Upgraded To 'Buy' By Brean Murray, $15 Target Price

Alpha Natural Resources Inc. (NYSE:ANR) shares were upgraded to "Buy" from "Hold" by Brean Murray, Carret & Co. (BMC), which believes there is more upside to owning the shares.The brokerage, which has a $15 target price, is of the view that the fundamentals and outlook of the company and the met coal market did not materially change over recent weeks. What did change is the stock price, BMC

Whiting Petroleum (WLL)'s Gas Plant Partnership Highlights Hidden Midstream Value: Analyst

Brean Murray, Carret & Co. (BMC) remains bullish on shares of Whiting Petroleum Corp. (NYSE:WLL) despite the recent pullback in the energy sector, and the brokerage foresees upcoming catalysts in continued crude oil production growth from the Pronghorn field in the Williston Basin."De-risking of the company's Permian Basin properties and overlooked value in the company's midstream assets make us

Enbridge (ENB) PT Lifted To $46 By CIBC After Eastern Access Projects, 'Sector Outperformer' Maintained

CIBC World Markets Inc. analyst Paul Lechem increased his price target on shares of Enbridge Inc. (NYSE:ENB) to $46 from $44, while maintaining his "Sector Outperformer" rating.Enbridge announced that it has secured commercial support to proceed with $2.6 billion of Eastern Access projects, including: $2.2 billion in mainline expansions from Flanagan IL to Sarnia ON, $0.2 billion Toledo Pipeline

Deutsche Bank Starts Forum Energy Technologies (FET) At 'Buy', $30 PT

Deutsche Bank analyst Mike Urban initiated coverage of Forum Energy Technologies Inc. (NYSE:FET), an oilfield products company, with a "Buy" rating and $30 price target.Urban said FET fills a significant void in the oil service space by offering investors a high quality SMID cap name with leverage to some of the strongest secular growth themes in the industry and one of the highest quality

High Oil Prices Taking Toll on Refiners

No better proof of the speculatively driven oil market could possibly be seen than in the rash of refinery shutdowns and outright bankruptcies that have taken place in the last two years, the last being Tuesday's reported bankruptcy of Swiss-based Petroplus, Europe's biggest independent refiner. More on COP Natural Gas Will Dictate Oil Prices, Not Iranian Sanctions or OPECCramer's 'Mad Money'

Mid-Session Energy Market Report

The crude oil complex traded in negative territory throughout the morning hours, pressured by uncertainty surrounding the European debt situation and ideas that crude oil supplies could be running ahead of demand. Into the early morning low, July crude oil prices were off more than $5.00 from yesterday's high of $87.00.Some traders also suggested that there was a level of concern in the market

Oil Panic! The Three Myths Driving the Market Wild

Oil is by far the most widely traded commodity in the world. It is also the most corrupt.By way of example we need look no further than the events of the past two years. What with our TV screens filled with images of blazing oil pipes in Iraq, traffic jams in Shanghai and hurricane disasters in the US. A seemingly endless list of horrors endlessly regurgitated. All this with one goal in mind: to

The seeming lockstep price of Crude Oil and the Morgan Stanley Capital International

The seeming lockstep price of Crude Oil and the Morgan Stanley Capital International EAFE based TSP 401k.A friend of mine at work got into the I fund (based on the Morgan Stanley Capital International EAFE) at the right time and rode it to some great profits. He said that as oil prices rose so did the I fund. Being a curious fellow I decided to take a look and an interesting pattern appeared.I

Auto Repair: How Can They Screw Up An Oil Change

"It's all about beating the clock". This quote comes from a wise old service manager, advising me on how to maximize my income as a flat-rate technician. If you have ever wondered why your car doesn’t get fixed correctly, or all your concerns weren’t addressed, you can blame, in part, the flat-rate pay structure.Flat-rate simply means that your mechanic is paid a flat fee for a particular repair,

Investing In Oil And Natural Gas Is All About Diversification

Investing in gas & oil investments is all about reducing your risk, and spreading-out your investment funds, or diversifying in as many new prospective oil & gas wells as possible while building a portfolio of new commercially productive wells. You need to be able to do this while taking advantage of the opportunities to invest in many fields as practical.Your goal should be to own working

Oil Production May Be At Its Peak, Experts Say

Anyone who has recently visited a gas station has felt the pinch of the impending oil crisis by having to pay more than $3 per gallon for gas.While most people understand that we are facing a worldwide shortage of one of our most precious commodities, the reasons behind the deficiency remain somewhat vague.According to Mammoth Resource Partners, Inc., a Kentucky-based oil and gas exploration

Oil - The Lifeblood Of Your Car

I was actually a passenger in a car that was having an active oil leak. The driver knew what was happening, and was warned to pull to the side of the road and call a tow truck, but she wanted to try to make it home. Unfortunately, she didn't. The engine seized up, never to run again. What a foolish and costly mistake.The simple fact is that the engine in your car cannot run without lubrication

Specialty Motor Oil Protects Cars From Ethanol

Since President Bush announced an agenda for weaning the country from dependency on foreign oil, new ethanol plants have been popping up across the nation.Ethanol demand is rising. If you fuel your car in the U.S., you are putting ethanol in your gas tank because regular gasoline now contains at least 10 percent ethanol. And many gas stations are replacing their mid-grade gasoline with E85, which

Investing in Oil in the Face of Terrorism

Terrorist attacks threaten the security of nations and create an atmosphere of uncertainty. These threats impact stocks and commodities markets around the world and make investment decisions very difficult, even for the experts. So what can average investors do? First, they should ask themselves what the likelihood is of a major terrorist attack. Then, they should determine whether their

Credit Cards From Oil Companies Are No Bargain

The number of consumers with oil company credit cards, good for gasoline purchases, has increased dramatically during the last ten years. The two main reasons for this growth are the general easing of qualifications for such cards and the growth of pay at the pump. It is simply much easier and faster to buy gasoline if all you have to do is stick a card in the pump, get your gas and drive away.

Drillers Hope to Strike It Rich With Old Oil Wells

Exploration firms are finding that reopening oil wells that have long been closed may help decrease the crude oil shortages.For example, Desdemona, Texas, which was booming with oil production in the early 1900s, once was one of the largest oil producers in the region. Unfortunately, the town's heyday ended almost as fast as it started due to some of the oil wells drying up. Its production of 7.3

Deciding Whether To Invest In Oil Stocks

The decision to invest is confusing in general but when you are deciding on very particular stocks, it takes a significant amount of research in order to feel confident in your choice.One popular choice of investment is that of oil stocks; the reasons for its attractiveness are incredibly diverse. And deciding whether you want to involve yourself in this particular industry is a very personal

Coal Reduces Reliance On Foreign Oil

Recently, the price of a barrel of oil rose to $40, the most expensive price in American history. With the rise in oil prices and constant instability in the Middle East, the United States seems headed for an energy crisis.But there is an abundant, low-cost energy source located throughout the country. That energy source is coal.After years of mine shutdowns, there is a renewed interest in coal

US Ends Oil Dependency; Turns B S Into Fuel

While America is experiencing a gasoline shortage, the nation’s dependence on foreign oil is about to end.A researcher at The Department of Energy, from which breakthrough ideas emanate on a regular basis, noticed that Americans, along with most people who ever lived, have a virtually unlimited and renewable supply of B. S. He wondered if it might be turned into fuel.The hypothesis proved so

Rising Commodity Prices Causing New Turmoil Through The Mining Sector

The Gold and Silver Index (XAU) is holding steady above 120, having reached a high above 156 in January, a level it had not seen since September 18, 1987. The spot uranium price is higher than it’s been since January 1980. Crude oil? Filling up your gas tank should remind you that oil prices are still painfully high. So all of this must mean mining companies are thrilled with their good fortune?

Predicting Oil Prices: The Shortage Lies In The Fact

Any numbers of energy experts—in Wall Street, in specialist trading outfits and in government bureaus throughout the world—have concluded that, since demand for oil will continue to outstrip supply, crude prices will remain on a firm-to-higher path in the foreseeable future. The problem is that hardly any statistical formulation is based on audited or established facts. Data from countries within

U.S. Ends Oil Dependency: Turns B.S. Into Fuel

While America is experiencing a gasoline shortage, the nation’s dependence on foreign oil is about to end.A researcher at The Department of Energy, from which breakthrough ideas emanate on a regular basis, noticed that Americans, along with most people who ever lived, have a virtually unlimited and renewable supply of B. S. He wondered if it might be turned into fuel.The hypothesis proved so

Car Repair Prices: Why Your Oil Change Is Never "Just An Oil Change"

For a repair shop, there is little profit in the $29.95 oil change. By the time a shop pays its technician, pays for the oil, the filter, and the hazardous waste disposal fees, there’s no money left.This low profit margin is worsened by the extremely competitive “Quick Lube” business, which forces local repair shops to refrain from raising prices, despite rising costs.This all begs the question:

U S May Join Opec. 1/4 Of World's Untapped Oil Reserves In Artic

Recent exploration of sediment deep beneath the Artic Ocean has led geologists to estimate that approximately 1/4 of the world's untapped oil and gas reserves are located there. After evaluating the impact of the news, the U. S. may seek membership in OPEC.President Bush, smiling and joking with King Abdullah of Saudi Arabia at a press briefing in Nome, Alaska, stated, "Since it looks like we've

Oil Shortgages - A Solution

Many of us remember the oil shortages of the late seventies. They caused more than just the inconvenience of occasional gasoline rationing. Several elderly people actually died in the New York City area because of a lack of heating oil. Some people thought it would only get worse, and we would run out of oil completely before long.Interestingly, at the same time, gold and other things much rarer

Future Of Oil

In recent days oil market has witnessed surge in global oil price. Crude oil went to a two-month high on concern that U.S. refiners will fail to produce enough gasoline to keep up with peak demand this summer.Short fall in supply of oil from Nigeria and uncertainty on Iranian nuclear issues are already keeping buyers of oil nervous. Delivery in May future hit $68 per barrel, a 20 pct jump from

Oil Crisis Affects More Than Just Gas Prices

Did you know that petroleum is used to manufacture an enormous number of products that we use in our everyday lives?Less than 20 percent of all recovered oil is used for any type of fuel. Over 30 percent is used for the creation of food via fertilizers. Nearly the same amount is used to manufacture plastics.If you were to walk through your home or office, you would be overwhelmed by the thousands

Update: Artic National Wildlife Refuge: Senate Rejects "Oil Drilling"; Approves "Oil Hunting."

Fueled by skyrocketing gasoline prices, the Senate once again took up debate on oil drilling in the Artic National Wildlife Refuge. The members were sharply split along party lines, with Democrats maintaining that the very idea of intruding on that pristine national treasure with oil rigs is an affront to every responsible American's instinct for wilderness preservation, while Republicans were

Grease And Oil On Your Car's Interior

We all know the properties of oil and grease. They can really stick on anything and could become quite a mess. They are very slick and oily. Aside from these, they could prove to be quite a challenge to remove.Much as you keep your car's interior immaculate and clean, accidents do happen. You could step on oil or grease that may have leaked from other vehicles. And when you do, you could bring it

Enhanced Oil Recovery, Secondary, and Tertiary Recovery

Did you know that much of the oil in the ground is still present after primary recovery? In the king's english that means there is still a lot of oil left in a well even after 10 years of pumping. The reason oil production slows is that the natural drive that once pushed oil aggressively towards the wellbore has subsided. Normally, the natural drive is either water or gas in the formation. In

Oil Prices May Crash

Oil has been rising for the past 10 years as the world has come to the understanding that there is only a limited supply and national economies are tied to it. To many people the rise in oil price is a good bet because of its limited nature. It may be possible that oil will take a dive in price as it comes close to $100 per barrel as people begin to feel uneasy.It is possible that people have

Risk in the Oil Drilling Game

When considering whether or not to invest a portion of your assets into American oil, you must come to an understanding of risk inherent in this type of endeavor. As i have said before, if you are not a high networth or accredited investor limit your exposure to sector mutual funds and the like.If you are an accredited investor, take a closer look at direct participation oil & gas deals.Typically

Oil Exploration Update: U.S. To Play Catch-Up With Cuba

Startlingly enough, it looks as if the time will soon arrive when the USA will have to play catch-up with Cuba in oil exploration. The diminutive and destitute communist enclave that serves as Fidel Castro’s personal cigar plantation now realizes that it has enough oil reserves under its coastal waters to prop up its no-go economy for decades and, incapable of assembling the capacity to out the

Venezuela Threatens To Cut Off Oil Exports To US

On Sunday, Hugo Chavez, president of Venezuela, threatened Condoleezza Rice. Last Friday, he also made treats to discontinue exporting crude oil to America if they will still try to undermine his administration.This is his response to previous statements made by Condoleza Rice that relationship of Venezuela with Cuba are perilous to the democratic system in Latin nations. Moreover, the US State

Where Did All the Oil Drilling Equipment and Well Service Equipment Go?

The well drilling and servicing businesses have been very prosperous the last few years. The industry, although, has been marked by an extreme cyclical past that discouraged capital investment. It doesn't feel too good to have a multi-million dollar piece of equipment collecting weeds somewhere in a field. When oil began to rise a few years ago, demand for drilling came back and rotary giants

Oil Partnerships: How to Protect Your Investment

As burgeoning economies push the demand for oil to historic highs, some analysts say the world's oil production is in the process of peaking. Believing that an oil crisis -and, thus, higher prices - is inevitable, some investors are seeing dollar signs in their future.According to the International Energy Agency, 2004 world oil demand increased by a higher rate than any year since 1988. And if

Achieving Success In Oil And Natural Gas Investing

Investments in oil & gas private placements, or direct participation projects should only be made by investors who understand, or learn how to implement a deliberate plan to minimize risk, while clearly understanding a likely, and reasonable risk/reward ratio...investors need to accept the over-all risk they must take to achieve the upside necessary to justify taking the risk in the first

How To Change Your Car's Motor Oil In 3 Easy Steps

Ideally, you should change your motor oil every three months or after every 3,000 miles. If you often drive around in hot or dusty conditions, you might even want to change oil more often than that.The process is pretty simple, and as easy as one-two-three. Step one is getting ready, step two is draining the oil and changing the oil filter while step three is installing the new oil.(1) Getting

How Does The Price Of Oil Affect The Stock Market?

Ever since the price of crude oil started growing there has been talk about the price of oil affecting the share market and your investments. Now if you think about it logically it does sound like it would make an affect. If it costs a company more to run the company because oil prices are changing then it sounds like it would affect the share price. Same goes for the idea that people will be

Investing In Oil And Gas Opportunities

Investing in direct participation, or working interest ownership in new oil & gas prospects being offered by only the very best oil & gas independents, and broker/dealers is now a pretty common way to beat the stock market, and just about any other passive investment being offered to you today... particularly when... but only when... you can do it correctly...Cash flow is always king, and making

The Roller Coaster Oil Market

There is a public mythology concerning the oil markets that has been fueled by a sharp rise in oil prices in the last few years. That perception is that the oil companies whose job it is to acquire the raw materials to make petroleum products, including gasoline for transportation, are the source of the rising prices. It is easy for the public to pin the blame on big business.

The truth is

About Man Vs Nature

Your culture is broken. Your routine is broken. Your whole day is broken. Your evenings are broken. Your life has become one helluva hiatus of incisive breaks.

Fortunately your workplace provides you merely one break each day. however if you even consider enjoying your break you get mercilessly broken. If you favor to remain at home your existence gets broken.

The news channels carry on

About Man Vs Nature

Your culture is broken. Your routine is broken. Your whole day is broken. Your evenings are broken. Your life has become one helluva hiatus of incisive breaks.

Fortunately your workplace provides you merely one break each day. however if you even consider enjoying your break you get mercilessly broken. If you favor to remain at home your existence gets broken.

The news channels carry on

Is Global Warming: Something to Worry About?

The majority of us are aware of 'global warming' and the effects that it could have on our planet and its population.

It is often our basic necessity items that have the most hazardous impact on the environment indirectly affecting people worldwide. The daily newspapers read, the Evian water bottles and Coca-Cola cans consumed as well as the plastic Tesco bags used, all are heating up the

The seeming lockstep price of Crude Oil and the Morgan Stanley Capital International EAFE

A friend of mine at work got into the I fund (based on the Morgan Stanley Capital International EAFE) at the right time and rode it to some great profits. He said that as oil prices rose so did the I fund. Being a curious fellow I decided to take a look and an interesting pattern appeared.

I graphed the five funds available in the Thrift Savings Plan, 401k retirement plan.

The funds are:

The