News / International

BP shares plunge to 14-year low as doubts grow over dividend

BP’s share price tumbled by 15.8 per cent to a 14-year low in New York trading last night amid mounting concerns about the financial impact of the Gulf of Mexico oil spill. Analysts now believe that it is likely that BP will cut or even suspend its dividend after intense political pressure in the US.

UK: OHM awarded North Sea WISE contract

AIM-listed Offshore Hydrocarbon Mapping (OHM), has announced that it has been awarded a CSEM contract, worth in excess of $1 million, in the North Sea, by an existing client, Bridge Energy UK (formerly Silverstone Energy).

Update on Gulf of Mexico Oil Spill Response

BP provided an update on developments in the response to the MC252 oil well incident in the Gulf of Mexico.

DNO: increase in Yaalen flow

The second test in Yaalen-3 flowed 2,650 barrels of oil per day (bopd). As the first test flowed 1.400 bopd, the aggregated flow rate from the two tests is 4,050 bopd.

Enefit signs oil shale concession agreement with Jordan

CRA International, a worldwide leader in providing management, economic, and financial consulting services, announced that the Company advised the government of Jordan in the structuring and negotiation of an oil shale concession agreement that will allow Enefit, an affiliate of Eesti Energia AS, to explore and develop oil shale resources in Jordan.

Qatar Petroleum, Shell and Petrochina sign new Exploration and Production Sharing Agreement

Qatar Petroleum on behalf of the Government of the State of Qatar has signed a new Exploration and Production Sharing Agreement with Shell and PetroChina Company Limited for Qatar Block D.

AuDax primes Lambouka bit

AuDax Resources, the Australian listed explorer, announced that it was appointed to start drilling a well in the Lambouka prospect, off Tunisia, after conducting 3D seismic survey.

Woodchips for BP’s Gulf Oil Spill Clean Up

Green Energy Resources Inc. offered to commit 100,000 tons of woodchips for the gulf oil spill. Woodchips for oil containment is a proven technology listed with the Federal EPA.

Bowleven announces commencement of drilling operations in Etinde Permit

Bowleven, the West Africa focused oil and gas exploration group listed on AIM, announced that it has commenced drilling operations on the Etinde Permit (Etinde), offshore Cameroon.

DNO: initial results from the testing of Yaalen-3

DNO reported initial results from the testing of Yaalen-3, in the Republic of Yemen. The first test in Yaalen-3 flowed 1,400 barrels of oil per day, with no water. The test rate was restricted by the equipment used during the test, and the Company expects that this interval has the capacity to flow in the order of 4,000 - 5,000 bopd.

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