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Heavy Oil is an up and coming energy resource that is aggressively being sought out as the world's energy demand increases. As technology continues to improve, this once costly energy source is quickly becoming a more viable alternative. This section focuses solely on Heavy Oil, what it is, where it's found, and the technologies that make its acquisition possible.

Learn More About Heavy Oil

Industry Headlines

Pemex Increases Gulf of Mexico Activty with Latest Rig Tender

Thursday, November 20, 2008 - Pemex has issued a five part tender for three jackups and two self-contained platform rigs as part of a strategic initiative to increase production in several fields including Cantarell, Ku-Maloob Zaap and May.

Lower Oil Prices Give Power to Producers in Contract Talks

Thursday, November 20, 2008 - Energy producers are attempting to use lower oil prices to grab back negotiating power from oilfield service companies in order to cut costs and secure cheaper deals.

EU Eyes the Arctic as It Seeks to Prop Up Its Energy Security

Thursday, November 20, 2008 - After looking for possible oil and gas supplies in Central Asia and Africa to increase its energy security, the European Union is widening its interest toward the Arctic. Up to 25% of undiscovered petroleum could be located in the Arctic region.

Turkish Firms, Shell Form Iraq Gas Partnership [11/20/2008]

Court Voids Shell's Beaufort Sea Drilling Plan [11/20/2008]

MMS Distributes Record $23.4B from Royalties, Rents and Bonuses [11/20/2008]

more Industry Headlines articles

Commodity Prices

Brent Crude Oil :	$45.56/BBL -6.83%
Light Crude Oil :	$49.62/BBL -8.06%
Natural Gas :	$6.32/MMBtu -6.65%
Unleaded Gasoline :	$1.01/gal -9.93%
prices from:	11/20/2008
change since:	11/19/2008

more financial information

Upcoming Events

Electric Business Understanding Seminar

12/9/2008 - 12/10/2008
Miami

Energy Caribbean 2008

12/10/2008 - 12/11/2008
Port-Of-Spain

Renewable Energy Overview Seminar

12/11/2008 - 12/11/2008
Miami

Gas Conditioning and Processing - Special

1/19/2009 - 1/23/2009
Calgary

more upcoming events

Exploration News

Sasol Pleased with Njika-1 Results

Thursday, November 20, 2008 - Sasol completed the Njika-1 exploration well on Block 16/19 offshore Mozambique. Located in 460 meters of water, the well indicated the presence of gas and is currently being tested to determine commerciality.

Sea Dragon Awaits Arrival of Rig at Dahab North Prospect

Thursday, November 20, 2008 - Sea Dragon Energy Inc. announced that the Transocean 103 Rig is nearing its Dahab North prospect and expects to be on location in the Gulf of Suez within 24 hours.

StatoilHydro Makes Additional Gas Discovery in Norwegian Sea

Thursday, November 20, 2008 - The well confirmed a 38 meter gas column, and too early to determine if it is commercially viable when seen in connection with a possible field development of Haklang and the nearby Luva and Snefrid South finds.

Chevron Slows Colorado Gas Drilling Development [11/20/2008]

Tullow Makes Small Discovery at Ebony Offshore Ghana [11/20/2008]

Afren Farms Out 20% of Ghana's Offshore Keta Block to Mitsui [11/20/2008]

more Exploration articles

Featured Jobs

Senior Toolpusher - Tender Assist Barge - South East Asia
Exp.:	1+ yrs
Loc.:	South East Asia
Skills:	Toolpusher
Process Facilities Advisor - 6758
Exp.:	10+ yrs
Loc.:	London
Skills:	Process Engineer
Well-Site Project Supervisor
Exp.:	5+ yrs
Loc.:	Far West Houston
Skills:	Project Management, Workover or Completion
Risk Management Specialist
Exp.:	6+ yrs
Loc.:	Khafji
Skills:	Risk Management
more job openings

From the Store

New Releases

Financing Energy Projects in Developing Countries

Offshore Brazil Oil & Gas Activity and Concession Map, 2008 Ed.

Downhole Drilling Tools: Theory and Practice for Petroleum Engineers and Students

more books and products

Production News

Valiant Progresses on Don, Anticipates Start Up in Early '09

Thursday, November 20, 2008 - Valiant has achieved a number of field development milestones on the Don South West and West Don fields, including the mooring of the Northern Producer floating production facility, completion of subsea work and drilling of first production well.

Range Resources Expands Marcellus Shale Production

Thursday, November 20, 2008 - Since completing the first phase of development on the Marcellus Shale play, Range and partner MarkWest have tied-in seven wells into the gas processing facility.

Petrofac Installs Production Platform at Don Development

Thursday, November 20, 2008 - Petrofac has completed the safe mooring operation for the Northern Producer on location on the Don Area development in the North Sea, following a major refurbishment program of the semisubmersible production platform.

Drake Ties-In Retlaw Gas Well [11/20/2008]

Russia's Transneft Could Take BP to Court over CPC [11/19/2008]

Helix to Restore GOM Production to Pre-Storm Levels by Year-End [11/19/2008]

more Production articles

Stock Movers

Winners
Ritchie Bros. Auctioneers	-0.35%
ICO	-0.78%
Syntroleum	-1.25%
ONEOK	-1.76%
Boots & Coots International Well Control	-2.07%
Losers
Meridian Resource	-28.24%
Parallel Petroleum	-16.89%
Goodrich Petroleum	-15.96%
Input/Output	-15.09%
Superior Energy Services	-15.00%
Note: % change based on the last 2 days of trading
more stocks

Featured Equipment

30kw / 65kw Capstone Turbine Generators

PetroChem Tote Tanks

more equipment

Company Operations

Samsung Finalizes Construction Contracts for 2 Drillships

Thursday, November 20, 2008 - Samsung Heavy Industries reported that the company has been awarded a contract to build two drillships valued at US $1.399 billion (KRW 2.093 trillion).

Eni, Ecopetrol Ink Farm-In Agreement, to Drill 5 Prospect in GOM

Thursday, November 20, 2008 - Eni signed two agreements with Columbian state-owned Ecopetrol. The first covers Exopetrol farming into Eni's GOM exploration protfolio, the second is a MoU that strengthens the companies' ties.

Russians Control TNK-BP as Foreigners Leave

Thursday, November 20, 2008 - Russian oligarchs have taken effective management control of BP's Russian oil venture TNK-BP as part of an exodus of foreign executives from senior positions, according to TNK-BP sources.

XTO Plans $3.3B Budget to Increase Production by 18% in 2009 [11/20/2008]

Spain's PM to Consider Lukoil's Independent Status [11/20/2008]

StatoilHydro Extends Oilfield Services Contract with AGR [11/20/2008]