Chariot Undeterred by Drilling Misses in Namibia

UK’s Chariot Oil and Gas Limited is still unable to strike commercially viable oil finds in Namibia despite years of exploration. But Larry Bottomley, CEO of Chariot, said that they are analyzing technical data from unproductive oil wells and are using these to help pinpoint possible productive fields worthy of oil exploration. About six years ago, explorers struck significant oil finds in...
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Petrobas Opts for Selective Oil Investment in Brazil Round

Many are skeptical about Petrobas’ capacity to invest in oil exploration in Brazil, which is set to auction offshore oil fields this coming May. The state-run oil company has significantly large liabilities, leaving the company with limited funds for the forthcoming bidding rounds. Petrobas is neck-deep in debt as it spent more than $90 billion of borrowed funds for deepwater oil exploration...
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Investing in Oil Firms with Competitive Advantage

The U.S. oil and gas market has been exhibiting tremendous growth, and those looking for opportunity to invest in oil markets will have to focus on competitive advantages. Oil firms that continually seek new ways of producing this commodity closer to where the market is are worth looking into. Also, companies that take advantage of new technologies in oil exploration and drilling are good...
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Israeli Oil Companies Join Oil Search in Cyprus

On Monday, Israel-based oil firms Avner Oil Exploration L.P. as well as Delek Drilling bought nearly one-third of the oil and gas drilling rights on blocks near the southern shores of Cyprus. According to Neoclis Sylikiotis, Commerce Minister, the firms’ decision to invest in oil field exploration in the area could signal the beginning of a political and economic alliance between his country...
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New UAE pipeline will boost Arab oil flow amid Hormuz concerns

Abu Dhabi had earlier earmarked oil investment funds for building a pipeline system from its major oil hubs down to Fujairah in the Gulf of Oman. Recently, the project was successfully completed and some sectors say that Fujairah, one of the 7 states of United Arab Emirates (UAE), could turn out as an alternative passage for Arab crude oil exports in case Iran proceeds with its threat to close...
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