GLG News by Oil and Gas Well Drilling Experts

Simon Webb and Ahmed Rasheed ( both with Reuters) in Dubai reported in the June 6 issue of the International Herald Tribune that Iraq is about to sign contracts that would increase production. Six contracts are expected to be signed which include both supergiant s Kirkuk in the North and South Rumaila....

Stephen Castle and James Kanter in Brussels reported in the June7-8 issue of the International Herald Tribune that the European Union agreed Friday to open energy markets and weaken the grip of the largest providers. The consensus of the commissioners is expected to be approved by European Parliament....

Jad Mouawad reported in the June 6 issue of the International Herald Tribune that crude oil prices had their biggest gains ever on Friday. News that Israel was considering an attack on Iran was one cause. The Iran risk premium has returned. The sharp fall of the dollar related to a Jean-Claude Trichet...

Judy Dempsey in Berlin reported in the June 4 issue of the International Herald Tribune that the Nabucco natural gas pipeline had another glitch to add to its long list of problems. The long delayed project that still await financing will cost 60% more than originally estimated. High steel prices are...

Bill Vlasic in Detroit reported in the International Herald Tribune on June 4 that General Motors will close four plants and abandon the manufacture of pickup trucks. Sale of its Hummer brand will be considered. GM will bet heavier on lighter vehicles. The move will cut 500,000 units from production....

Offshore Magazine reported that Total announced in Paris on May 27 that the company had made a significant discovery of natural gas and condensates on Block B offshore Brunei in 203 feet of water. Location is 31 miles from the coast. The well, MLJ2-06 was drilled to 19,193 feet and is the deepest test...

Michael Erman and Tom Bergin, both of Reuters reported in the International Herald Tribune on June 2 that oil companies are under pressure from shareholders to invest in alternate energy. This in conjunction that greenhouse gases cause global warming. Some investors claim the oil companies do not appreciate...

Sophia Kishkovsky in Moscow, assisted by Julia Werdigier in London reported in the May 31-June 1 issue of the International Herald Tribune that BP rejected demands from Russian billionaires to dismiss Robert Dudley, CEO of the TNK-BP joint venture. An ongoing confrontation continues. Disagreement over...

Michael Erman (Reuters) in New York reported in the May 27 issue of the International Herald Tribune that major oil companies appear to be safe investments. While nearing the all time highs of July 2007, shares still do not reflect the underlying price of crude oil. The reason is skepticism about continued...

Louis Story reported in the May 5 issue of the International Herald Tribune that Arjun Murti, Goldman Sachs analyst, has become the talk of the oil market. A few years ago, rivals scoffed at his prediction of $100/bbl crude oil. In 2004 he concluded that the world was headed for a shock. Few laugh now...