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Huge Oil Find In Kurdistan
Canadian oil exploration firm Heritage Oil on Wednesday announced a major oil discovery in the Kurdistan region of northern Iraq, estimated to contain up to 4.2 billion barrels.
The Miran West field holds between 2.3 to 4.2 billion barrels of oil, the company said in a statement, but the "highly fractured nature" of the reservoir means only 50 to 70 percent of it is recoverable.
Even so, Heritage Oil president Tony Buckingham said the discovery marks a "significant development milestone" for the company.
The Miran West field together with the neighboring Miran East field, covering 330 square kilometers (127 square miles), have the…
8May2009 | The Real Deal | 0 comments | ContinuedNorth Dakota Oil Is “Burning Up The Roadsâ€
As I’ve driven across Canada and down into North Dakota, I’ve been seeing energy everywhere.
The farms are well tended, and the agricultural productivity is awe inspiring. There are wind farms up, and going up, on many a hillside. Power lines crisscross the landscape. There are dams and impoundments on many of the rivers. And the trains of the Canadian Pacific Railway are rolling in both directions, hauling grain, ag products, coal, phosphate and so much else.
North Dakota Oil Rush
In Saskatchewan and North Dakota, the big story is the Bakken Shale formation. I’ve seen over a dozen working rigs and dozens…
7Aug2008 | Energy and Oil | Comments Off | ContinuedBig Oil Digs Deep to Solve a Growing Problem: Where Will Tomorrow’s Oil Come From?
The Kingdom of Saudi Arabia is the world’s leading petroleum exporter. Officially, it has reserves of about 260 billion barrels of crude oil – approximately 24% of the world’s total proven petroleum reserves.
But Saudi Arabia has a problem. And it’s the same one that every oil-producing nation will face someday: Its oilwells are drying up.
Saudi Arabia’s largest and most productive field, the Ghawar field, produces about five million barrels a day – accounting for more than half of the kingdom’s total production and 6% of total world output. But Ghawar was discovered in 1948 and has required large-scale injections of…
24Apr2008 | Money Morning | Comments Off | Continued
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