November 2011 Archives

XTOG -20.87% , a Dallas-based independent energy and oilfield services company engaged in the exploration and production of oil and gas properties in the U.S and a leading provider of salt water disposal services to the industry, announced today management will be presenting at the LD MICRO Growth Conference on Thursday, December 8th at 12:30 (PST) on Track 4.

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The conference will have 101 companies presenting over two days and is being held at the Luxe Sunset Bel Air Hotel in Los Angeles, California. The LD MICRO Invitational showcases some of the fastest growing and profitable names on the OTC, NASDAQ, and NYSE.

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Xtreme Oil & Gas Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations producing oil and gas from properties it owns and operates in Texas and Oklahoma.

Xtreme Oil & Gas to Present at the 4th Annual LD MICRO Growth Conference - MarketWatch (press release)

TORONTO (Reuters) - Canadian stocks closed higher on Tuesday - the first time in three weeks they have risen two days in a row - as heavyweight oil and gas producers rose in tandem with energy prices, which were boosted by encouraging U.S. economic data.

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As on Monday, oil and gas issues were the index's biggest movers, rising nearly 2 percent as U.S. crude prices edged toward $100 a barrel. <O/R> Energy stocks are up more than 4 percent this week following last week's tumult. As on Monday, oil and gas issues were the index's biggest movers, rising nearly 2 percent as U.S. crude prices edged toward $100 a barrel. <O/R> Energy stocks are up more than 4 percent this week following last week's tumult. "We've had a pretty strong rally over the last couple months (with oil prices) going from $75 to $100, and we're holding fairly well," said Levente Mady, market strategist at Union Securities.

TSX extends rally on oil and gas gains - Reuters Canada

Canadian firm Stealth Ventures Ltd, involved in exploration and production of petroleum and natural gas assets, has entered into a binding agreement to acquire a private company in India that has interests in producing oil & gas assets, coupled with exploration acreages.

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The deal will involve 100 per cent acquisition of the Indian company for $45 million, including $20 million in cash and $25 million in non-voting shares. The transaction will be completed after the required approvals from the Indian government are received. The deal will give Stealth a working interest of 30 per cent in producing oil and gas assets besides 10 per cent in oil and gas exploration acreages. All development assets of the target company are currently under production and have a significant upside, both for enhancing production and for exploration upside. The target company is the operator in some of the development assets, which will pass on to Stealth as soon as the necessary regulatory formalities have been completed and the necessary approvals from the government have been received.

Stealth Ventures To Buy Indian Oil & Gas Firm For $45M - VC Circle

NEW DELHI: The oil ministry has again reshuffled key officials handling crucial oil and gas issues, delaying crucial decisions as fear of transfers, vigilance inquiries and retribution keeps bureaucrats on tenterhooks.

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This follows the shake-up that minister Jaipal Reddy began in May with the abrupt exit of Petroleum Secretary S Sundareshan. The latest reshuffle of over a dozen under-secretaries handling crucial oil and gas-related matters, following the sudden departure of a joint secretary, has rattled babus, who are already ducking key decisions since investigative agencies started quizzing some of their colleagues for alleged irregularities in technical matters relating to exploration contracts, two government officials said on condition of anonymity. At a ceremony for the ET Awards for Corporate Excellence, telecoms minister Kapil Sibal said officials in his ministry were scared to act decisively. "There is a climate in this country, for reasons that you are aware of, where the bureaucrat is afraid of taking a decision," he told the gathering of corporate leaders, including top industrialists and 400 CEOs.

Oil ministry reshuffles key officials handling crucial oil and gas issues again - Economic Times

OSLO, Nov 25 (Reuters) - Norway's Statoil said it was shutting down production at its floating Njord, Heidrun and Aasgard platforms in the Norwegian Sea as Atlantic storm Berit roared off central Norway and a power dip knocked out some gas processing operations.

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The three platforms have a production capacity in excess of 130,000 barrels of oil per day, according to the Norwegian Petroleum Directorate.

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Kjell Varlo Larsen, a spokesman for North Sea infrastructure operator Gassco, said the onshore Kollsnes gas processing plant near Bergen briefly lost power soon after 1500 GMT and shut down automatically before restarting with partial effect.

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Storm throttles some Norwegian oil, gas output - Reuters

Kohlberg, Kravis Roberts & Co. is making headlines with its $7.2 billion leveraged buyout of Samson Investment Co., one of the largest closely held oil and gas explorers in the U.S. But the deal, announced Wednesday, also involves a huge outbound investment by a Japanese company.

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The KKR-led consortium includes Japanese trading house Itochu, which will invest $1.04 billion for a 25% stake in the company. It is the largest outbound acquisition by Itochu on record, in a year when Japan's famed trading houses have generally been on buying spree across all sectors. Kohlberg, Kravis Roberts & Co. is making headlines with its $7.2 billion leveraged buyout of Samson Investment Co., one of the largest closely held oil and gas explorers in the U.S. But the deal, announced Wednesday, also involves a huge outbound investment by a Japanese company.

Itochu Joins KKR in Samson Buyout - Wall Street Journal

TOKYO—A combination of Japan's March earthquake and nuclear disaster with the U.S. shale-gas revolution could open up a new multibillion dollar business—exporting U.S. liquefied natural gas to Japanese customers.

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Itochu Corp. confirmed Thursday it is buying a 25% stake in U.S. oil and gas producer Samson Investment Co. for $1.04 billion, saying that U.S. shale gas is cost-competitive compared with LNG imported to Japan from conventional sources in Asia-Pacific.

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Even before the nuclear accident at Fukushima Daiichi, several other Japanese trading houses had invested in North American shale-gas reserves.

Itochu Buys Stake in US Oil-and-Gas Producer Samson - Wall Street Journal

NEW DELHI: Seeking to shore up its finances, the Finance Ministry has asked cash-rich oil PSUs like Oil and Natural Gas Corp (ONGC) to consider special dividend over and above the 30 per cent interim dividend they anyway have to pay.

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As per norms, all profit-making state-owned firms are required to declare a minimum 20 per cent dividend on equity or a minimum dividend payout of 20 per cent of post-tax profits, whichever is higher. The Finance Ministry on October 31 wrote to the Oil Ministry saying the minimum dividend payout for PSUs in oil and gas, chemical and other infrastructure sectors would be 30 per cent this year.

Finance Ministry asks ONGC, others to consider over 30% interim dividend - Economic Times

The government has initiated steps for the assessment of shale gas prospectively in selected on land basins and the country has access to required technoology, minister of state for petroleum & natural gas RPN Singh told the Parliament.

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The government has initiated steps for the assessment of shale gas prospectively in selected on land basins and the country has access to required technoology, minister of state for petroleum & natural gas RPN Singh told the Parliament. " The service providers associated with these technologies are already having establishments in India. Therefore, required technologies can be made available through service providers as well as national oil companies,'' he said. Shale gas exploration and exploitation requires drilling of horizontal wells and multi-stage hydraulic fracturing. These technologies are also used in conventional oil and gas exploration, he said.

Govt initiates steps to assess shale gas prospectively: Oil Ministry - Economic Times

Those possibilities already have been well explored. For more than 18 months, since the Quebec Liberal government's almost secretive promotion of the shale-gas industry started receiving wide media attention, shale-gas opponents - experts and ordinary citizens alike - have been examining all of the available data on shale-gas development, and observing the impacts, in Quebec, elsewhere in Canada and, above all, in the United States, where shale-gas drilling has been going on for many years.

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These shale-gas opponents are not a small group of radicals. Rather, they consist of a province-wide coalition of informed citizens along with scientists, top university researchers, esteemed geologists, health experts, biologists, leading environmentalists and progressive politicians all wishing to protect their families' health, their communities, the general public and the environment from high-risk shalegas exploration and exploitation. From the large-scale development that has been taking place in the U.S., we see the serious health effects and risks associated with the toxic chemicals used for fracking (the extraction method) and with water-borne and airborne pollutants, including leaked methane.

Don't even consider shale gas - Montreal Gazette

OSLO, Nov 21 (Reuters) - The UK's Centrica boosted its oil and gas production by a quarter on Monday through buying a string of assets from Norway's Statoil and signing a 10-year gas deal that will improve the UK's energy security.

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Centrica, the parent of household energy supplier British Gas, will buy 5 billion cubic metres (bcm) of natural gas per year - about 5 percent of the UK's annual gas needs - between 2015 and 2025 in a deal worth about 13 billion pounds ($20.5 billion).

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It will also buy from Statoil oil and gas production and development assets off Norway for up to $1.625 billion, lifting its output by around 12 million barrels of oil equivalent per year and its probable and proven reserves by 29 percent.

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Centrica buys $1.63 bln Norwegian upstream assets - Reuters

NEW DELHI: The Directorate General of Hydrocarbon has given a clean chit to Reliance Industries' capital expenditure of $2.5 billion spent up to 2007-08 in developing the KG-D6 gas fields because the CAG's audit has not quantified any loss to the exchequer.

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The technical advisor of the oil ministry told the government that CAG will now inspect accounts of RIL-operated D6 block since 2008-09 and if it quantifies any illegitimate expenditure, the same will be recovered from the company, officials in the oil ministry and DGH said. Cost recovery is the key plank of the New Exploration Licensing Policy (Nelp) that invites companies to bid for oil and gas blocks. Under Nelp, the risk is borne entirely by energy firms. They have sunk about $9 billion or risk capital in Indian basins, out of which $7.2 billion has been lost in unsuccessful drilling and the companies do not get any compensation for this.

RIL gets clean chit for capex till FY08 in KG-D6 gas fields - Economic Times

NEW DELHI: In an unprecedented move, the Oil Ministry has sanctioned taking "scrupulous" action against Reliance Industries for natural gas output from its KG-D6 fields falling below the target.

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Contrary to the Production Sharing Contract (PSC), the ministry has decided to disallow expenditure incurred in constructing production/processing facilities at Dhirubhai-1 and 3 gas fields in KG-D6 block that are currently under utilised/have excess capacity because of falling output.

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Sources privy to the decision, taken by the ministry earlier this month, said that based on the Solicitor General's opinion, which was concurred by Law Minister Salman Khurshid , USD 1.85 billion -- out of the USD 5.694 billion investment already made -- will be disallowed and arbitration initiated to recover that from RIL.

Oil Ministry sanctions 'scrupulous' action against Reliance Industries - Economic Times

msnbc.com

Oil & gas explorations in South China sea a commercial activity: PM Manmohan ... Economic Times NUSA DUA (Bali): India Friday told China that its oil and gas explorations in the South China sea were purely a commercial activity. In his meeting with Chinese Premier Wen Jiabao on the sidelines of the India-ASEAN and East Asia Summits here, ... China rebuffs US, Asia pressure in sea disputeHindustan Times China 'constructive' on South China Sea rows, says USBBC News In Asia, Obama keeps focus off terrorismSacramento Bee Business Standard -NEWS.com.au -ABC Online all 2,687 news articles »

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Oil & gas explorations in South China sea a commercial activity: PM Manmohan ... - Economic Times

According to reports, ministry has approved a stake sale in Oil India Ltd. that may take place after the ONGC offer. The government may sell a 10% holding in Oil India in the next financial year.

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According to reports, ministry has approved a stake sale in Oil India Ltd. that may take place after the ONGC offer. The government may sell a 10% holding in Oil India in the next financial year. JM Financial Services Ltd., Citigroup Inc., Bank of America Corp., HSBC Holdings Plc, Morgan Stanley and Nomura Holdings Inc. are managers to the sale, added reports.

Oil & Gas Round Up - November 14 to November 18, 2011 - India Infoline.com

Committees are currently studying the prospects and ramifications of shale-gas exploitation in Quebec and gas and oil exploration and production in the Gulf of St. Lawrence. This is as it should be.

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In both cases, however, environmental activists are lining up against not only the development of these resources but even the process of examining their feasibility. This is not as it should be. Quebec's Natural Resources Department is overseeing the environmental assessment of oil and gas development in the Gulf, from Anticosti Island to the border with Newfoundland and Labrador, as well as in the Baie des Chaleurs.

Oil and gas: let's at least explore the possibilities - Montreal Gazette

XTOG -6.06% , an independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas, announced today third quarter and nine month financial results for the period ended September 30, 2011.

Manufacturer of Oil Tanks India.

2011 Company Highlights -- Signed a Letter of Intent from AMEREX Resources and Southern Wellhead, resulting in up to $7 million for disposal of 15,000 barrels per day of saltwater in Xtreme's Oklahoma commercial disposal well. -- Announced that drilling on the Hancock well has been completed, and is drilled to the Hunton formation, adjacent to a well that has produced 18,000 barrels of oil in the previous 9 months. -- The site is located within a mile of the Company's Robinson well which has produced over 38,000 barrels of oil in the past 12 months. -- The Company announced three new completed wells on its West Texas property passed final testing with the Railroad Commission of Texas allowing us to begin injecting water into our 5-Star Well project. -- Xtreme's Saltwater Disposal Well has completed the final testing required by the Oklahoma Corporate Commission and finished acidizing and fracking the formation to accept saltwater. -- The well exhibits unique characteristics for a prolonged period of revenue generation of up to 20 years and stable margins -- Announced results at the Robinson well in Oklahoma achieved initial production of over 300 barrels of oil and 850,000 cubic feet of gas per day. -- Current regular production has settled in at approximately 200 barrels of oil and 1,000,000 cubic feet of gas per day.

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For the three months ended September 30, 2011, net revenue was $122,766 an increase of approximately $98,000 from $24,628 for the three months ended September 30, 2010. The increase was principally due to sale of working interest in the West Thrifty Unit that resulted in $115,000 in revenue. Revenue for oil sales for the three months ended September 30, 2011 was $7,766.

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Xtreme Oil & Gas Announces Revenue of $2.3 Million for the Nine Month Period ... - MarketWatch (press release)

ISLAMABAD: To increase local production of oil and gas, the government has drilled 131 exploratory wells in different parts of the country during last five years.

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Officials in the Ministry of Petroleum and Natural Resources told Daily Times that the production of oil and gas in the country is less than the demand. However, the government has taken a number of measures to enhance oil and gas production activities in the country. Exploration licenses over 30 blocks were signed during the last calendar year in 2010. The Petroleum Exploration and Production Policy 2011 is in the offering to provide additional incentives to the investors for exploration of oil and gas in Pakistan. These additional incentives would take care of extra risk taken by exploration and production companies for doing business under the present security, law and order problems.

Govt drills 131 oil, gas wells in last 5 years - Pakistan Daily Times

REP.MC ), Spain's largest oil group, said on Thursday third-quarter net profit fell 14.5 percent as higher financial costs compounded a fall in oil and gas production and a lower profit in the downstream division.

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Repsol's net profit adjusted for one-time items and inventory costs (CCS adjusted net) came in at 429 million euros, broadly in line with an average estimate of 420 million in a Reuters poll of eight analysts.

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Repsol's oil and gas production fell 18.2 percent due to lost oil output from the civil war in Libya, where Repsol has recently restarted activity, and maintenance work at its liquefied natural gas business in Trinidad and Tobago.

Repsol Q3 operating profit beats forecast - Reuters

LONDON, Nov 9 (Reuters) - The International Energy Agency (IEA) said new long-term gas supply deals will increasingly be tied to spot gas prices, weakening a pricing system based on indexation to oil prices that dates back to the 1960s.

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LONDON, Nov 9 (Reuters) - The International Energy Agency (IEA) said new long-term gas supply deals will increasingly be tied to spot gas prices, weakening a pricing system based on indexation to oil prices that dates back to the 1960s. "Now is the time" for producers and suppliers to agree on more indexation to spot gas prices, IEA Chief Economist Fatih Birol said on the sidelines of the IEA's launch of its World Energy Outlook 2011. LONDON, Nov 9 (Reuters) - The International Energy Agency (IEA) said new long-term gas supply deals will increasingly be tied to spot gas prices, weakening a pricing system based on indexation to oil prices that dates back to the 1960s. "Now is the time" for producers and suppliers to agree on more indexation to spot gas prices, IEA Chief Economist Fatih Birol said on the sidelines of the IEA's launch of its World Energy Outlook 2011. "We hope to see in new long-term gas contracts more market elements to make prices more flexible for consumers," Birol said.

Oil-indexed gas supplies face further pressure-IEA - Reuters

The odds of that are high because we are back to $116 on Brent , I do not know how people say that crude prices are going to come down. So Cairn has started a fresh move and that could move higher, 355-360. Reliance is finding consistent support from 860. So, now it is trying to move into the next level between 860 and about 950 odd.

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So, there is hope that oil and gas could lead the next bit of up move but unless banking participates. I do not think the Nifty will make major moves on the upside. You will get those 15-20-30 point moves, probably tech should come back and participate, large cap tech because of global rallies. So tech and oil and gas may participate in the days to come. Managing money requires more skill than making it. That is why it is important to invest wisely by optimally balancing both risk and returns.

Oil & gas could lead the next bit of up move: Ashwani Gujral - Economic Times

NEW YORK ( TheStreet ) -- Carrizo Oil & Gas (Nasdaq: CRZO ) has been upgraded by TheStreet Ratings from sell to hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has not been very careful in the management of its balance sheet.

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CRZO's very impressive revenue growth exceeded the industry average of 35.5%. Since the same quarter one year prior, revenues leaped by 53.9%. Growth in the company's revenue appears to have helped boost the earnings per share. Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period. Although other factors naturally played a role, the company's strong earnings growth was key. Despite the fact that it has already risen in the past year, there is currently no conclusive evidence that warrants the purchase or sale of this stock.

Carrizo Oil & Gas Inc. Stock Upgraded (CRZO) - TheStreet.com

The BSE benchmark gained 50 points in the opening trade on Tuesday after a long weekend, tracking positive global cues. This was ahead of confidence vote in Italy. Oil & gas, capital goods, metal and select financial stocks were on buyers' radar.

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The BSE benchmark gained 50 points in the opening trade on Tuesday after a long weekend, tracking positive global cues. A confidence vote in Italy is awaited later in the day, which will have an impact on the markets. In the morning, oil & gas, capital goods, metal and select financial stocks were on buyers' radar. The 30-share BSE Sensex gained 57 points at 17,620.02 and the 50-share NSE Nifty rose 16 points to 5,300.45 amid volatility.

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ONGC surged 3.5% post stellar performance in Q2. It has posted a net profit of Rs 8642.23 crore for the quarter ended September 30, up 60% year-on-year boosted by lower subsidy payments and gains from high crude oil and gas prices.

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Sensex opens volatile; oil & gas, capital goods find takers - IBNLive.com

NEW DELHI: After GAIL, IOC and BPCL , the board of state-owned Oil and Natural Gas Corp (ONGC) has approved acquisition of Asian Development Bank's (ADB) stake in Petronet LNG Ltd.

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ADB had on August 23 offered to sell its 5.2 per cent stake in Petronet, in which the four state-owned oil and gas companies hold 12.5 per cent stake each, sources privy to the development said. Gas utility GAIL and refiners Indian Oil Corp (IOC) and Bharat Petroleum have already informed ADB of their decision to exercise their Right of First Purchase/Refusal on the multilateral lending agencies stake.

ONGC board approves acquisition of ADB stake in Petronet - Economic Times

New ways to extract oil and natural gas could buy the U.S. some time to develop renewable energy. Or they could keep us addicted to dirty fuels.

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New and efficient technologies for extracting oil and natural gas are increasing the supply of both fuels from North America. But the consequences will be different for oil than for natural gas. Oil is traded in a highly integrated world market, and the relatively small increases in North American oil will have virtually no effect on prices. The result is that our demand for oil will remain unaffected by the change in supply, though we may take comfort in knowing that more of the oil we use is produced closer to home.

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Natural gas is a different story. The markets are far less integrated, so the increase in domestic supply will lower prices and increase demand. We will have more households switching from oil to natural gas for heating, and we will have relatively more electricity generated with natural gas than with coal. The lower prices will be a good thing for consumers paying their utility bills, and there will be health and environmental benefits because natural gas is a relatively clean fuel.

Room for Debate: A Running Commentary on the News - New York Times

Real Aspen

Oil and gas regulatory war heating up in Colorado Real Aspen Counties across Colorado are gearing up for the next major oil and gas boom, scrambling to draft local regulations for everything from visual impacts to physical setbacks of drilling equipment. But state officials are increasingly ... American Petroleum Institute Enters Into Agreement with GP to Provide Oil and ...Bradenton Herald Industry Responds: EPA Fracking Study Lacks TransparencyAOL Energy all 15 news articles »

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Oil and gas regulatory war heating up in Colorado - Real Aspen

Representatives for California oil and natural-gas producers expressed approval for Governor Jerry Brown ’s decision to fire two state regulators who they said played a role in a slowdown in permitting for new drilling projects.

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Brown fired Derek Chernow, acting director of the California Department of Conservation, and Elena Miller, oil and gas supervisor at the department’s Division of Oil, Gas and Geothermal Resources, said Richard Stapler, spokesman for the California Natural Resources Agency . The number of permits granted for new drilling projects declined 73 percent since 2008, the last year before Miller took over. That decline came during a fourfold increase in applications as energy companies sought to tap the vast potential of the Monterey Shale, which holds more than 15 billion barrels of oil, according to the U.S. Energy Information Administration.

California Oil, Natural Gas Producers Cheer Firing of Top State Regulators - Bloomberg

Oil & Natural Gas Corp., India ’s biggest energy explorer, posted a 60 percent increase in second- quarter profit that beat analysts’ estimates after selling crude at higher prices.

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Net income in the three months ended Sept. 30 was 86.4 billion rupees ($1.8 billion), or 10.10 rupees a share, compared with 53.9 billion rupees, or 6.30 rupees, a year earlier, the state-owned company said in a statement yesterday. The median profit estimate of 31 analysts surveyed by Bloomberg was 64.9 billion rupees. Sales rose 24 percent to 226.2 billion rupees. ONGC supplies crude to state refiners at a discount to help compensate them for fuels sold below costs to curb inflation. The government increased prices of diesel, kerosene and cooking gas in June for the first time in a year after global crude costs rose, allowing the New Delhi-based company to raise its selling price of crude.

ONGC Quarterly Profit Surges 60%, Beating Estimates, on Higher Oil Prices - Bloomberg

Oil & Natural Gas Corp., India ’s biggest energy explorer, posted a 60 percent increase in second- quarter profit that beat analysts’ estimates after selling crude at higher prices.

Manufacturer of diesel tanks India.

Net income in the three months ended Sept. 30 was 86.4 billion rupees ($1.8 billion), or 10.10 rupees a share, compared with 53.9 billion rupees, or 6.30 rupees, a year earlier, the state-owned company said in a statement today. The median profit estimate of 31 analysts surveyed by Bloomberg was 64.9 billion rupees. Sales rose 24 percent to 226.2 billion rupees.

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ONGC supplies crude to state refiners at a discount to help compensate them for fuels sold below costs to curb inflation. The government increased prices of diesel, kerosene and cooking gas in June for the first time in a year after global crude costs rose, allowing the New Delhi-based company to raise its selling price of crude.

Manufacturer of Hydraulic Oil Tanks India

Oil & Natural Gas Quarterly Profit Surges 60%, Beating Analysts' Estimates - Bloomberg

VANCOUVER, BRITISH COLUMBIA, Nov 03, 2011 (MARKETWIRE via COMTEX) -- WCSB Holdings Corp. is pleased to announce the completion of its previously announced transaction, on October 28, 2011 involving a restructuring of WCSB Oil & Gas Royalty Income 2009 Limited Partnership (the "Partnership") and its assets and the sale, on a tax deferred basis, of its portfolio of oil and natural gas gross over-riding royalties (the "GORRs") to Caledonian Royalty Corporation ("Caledonian") in exchange for royalty units of Caledonian ("CRC Royalty Units"), a private Alberta-based corporation (the "Transaction"). Under the terms of the Agreement, Caledonian issued 1,594,447 CRC Royalty Units valued at $19,133,364 for the GORRs.

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The Partnership originally issued a total of 259,262 limited partnership units at a price of $100 per unit (the "LP Units") for gross proceeds of $25,926,200 in the summer of 2009. Pursuant to WCSB's business model the investment is 100% tax deductible and, therefore, unitholders will realize in the aggregate tax savings estimated at $11,666,790. Further, the Partnership has made total cash distributions to investors of $3,777,447.

WCSB Oil & Gas Royalty Income 2009 Limited Partnership Announces Completion of ... - MarketWatch (press release)

NEW DELHI: Cairn India has been ranked the fastest growing oil and gas exploration firm in the world, even as heavyweights like ONGC and Reliance Industries slipped in a list of top-performing energy firms globally.

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With a three-year compounded growth rate (CGR) of 116.5 per cent, Cairn was ranked by energy information provider Platts as the fastest growing E&P company in 2010.

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It was also named the fastest growing Asian company ahead of Reliance (ranked 18th in Asia) and state-owned GAIL India Ltd (ranked 20th) in the Platts Top 250 Global Energy Company Rankings.

Platts ranks Cairn India world's fastest growing energy company - Economic Times

Moneycontrol.com

Upstream regulator says Reliance Industries D6 gas output falls Economic Times India's federal auditor last month criticised Reliance and the government over development of the gas field in the Krishna Godavari (KG) basin. Earlier this year, Reliance sold a 30 percent stake in 23 oil and gas blocks, some in the KG basin, ... RIL's KG D6 output still down, D-34 gets approvalNDTV.com Upstream regulator says D6 gas output fallsReuters India KG panel says RIL's gas find commercially viablemydigitalfc.com all 20 news articles »

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Upstream regulator says Reliance Industries D6 gas output falls - Economic Times

Leading chopper maker Eurocopter is pitching its EC225 choppers to the domestic oil and gas industry and organized a demo flight at the Juhu airport on Tuesday as a part of the endeavor.

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Eurocopter would like to continue playing a crucial role by providing logistical support to this growing sector and we are showcasing this product to the oil majors like ONGC, RILand Essar," Eurocopter India Chief Executive Marie-Agnes Vevesaid. Since its introduction in 2004, EC225 has become the reference helicopter for long range or deep-water offshore operations, at present it is being used by leading oil and gas players around the world. It is also recognized as the highest performing helicopter in its class, the company claimed.

Eurocopter pitches EC225 choppers to oil & gas industry - NDTV.com

KKR & Co. is in exclusive talks to buy family owned Samson Investment Co., said people with knowledge of the matter, in what may be the biggest leveraged buyout of an oil and gas producer.

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KKR is working with several banks to put together financing, said the people, who declined to be identified because the discussions are private. KKR beat out oil and gas companies to enter the exclusive talks with Samson and isn’t working with any partners, the people said. Samson, based in Tulsa, Oklahoma , may be valued at $8 billion to $10 billion in a sale and has been working for months with Jefferies Group Inc. to seek buyers or joint-venture partners, people with knowledge of the effort said. Even at $8 billion, a private-equity buyout would be the largest of an oil and gas exploration and production company, according to data compiled by Bloomberg.

KKR Is Said to Hold Exclusive Talks to Buy Samson Investment Co. - Bloomberg

Brazilian national oil exploration firm Petrobras is in negotiations to increase crude oil exports to Indian refineries, a top company official said here today.

Manufacturer of Diesel Tanks India.

Brazilian national oil exploration firm Petrobras is in negotiations to increase crude oil exports to Indian refineries, a top company official said here today. “We are in negotiations on increasing crude oil exports to India,” said Petrobras Singapore Pte Ltd Managing Director, Mr Sillas Oliva Filho.

Diesel Tanks India

However, Brazil’s purchases of diesel and gas oil from Indian refineries are likely to see a decline in the coming years as the South American nation’s own refining capacity is ramped up, he said at a press conference led by Petrobras Chief Executive Officer, Mr Jose Sergio Gabrielli de Azevedo.

Manufacturer of Oil Tanks India.

Petrobras in talks to increase crude oil exports to India - Hindu Business Line