While under CCAA protection the Company will continue with its day to day operations. On November 15 2011 the potential purchaser under a Binding Letter of Intent to acquire some of the Company3

Kuwait: The CWC Group Limited, organizers of the Kuwait Oil and Gas (KOG) Summit and Exhibition hosted by KPC and leading government representatives from the 12th to the 15th of February at the Regency Hotel, have announced the new activities and features that will take place during KOG 2012.

Saudi Arabia: Saudi financial and legal experts have said the current practice of local lenders receiving personal loan repayments directly from the salaries of borrowers is a clear legal aberration that is unacceptable, Arab News has reported. "Apparently, banks are able to solve all the problems related to personal loans following a directive by Saudi Arabian Monetary Agency (SAMA), the central bank, allowing them to treat the salaries of borrowers as security if they take out personal loans. This has helped banks to expand their base of personal lending substantially," Dr Abdul Rahman Al-Sultan, an academic and economic expert said, adding that personal loans with salary collateral forms a major segment of banking credit in the kingdom.

Oil shows were seen from 1722 to 1731 metres in the midBirkhead Formation within a developed stratigraphic channel that includes good quality sand reservoir. After reaching a total depth of 1840

This is due to disputes over payments and prices stretches into a third month oil industry sources involved in the deals said on Monday. 20 percent of total Iranian oil exports are from China makin

Exillon Energy an independent oil producer with assets in two oilrich regions of northern Russia TimanPechora and West Siberia has announced the signing of a new term loan by its wholly owned sub

President Barack Obama said Sunday he does not think Israel has decided whether to attack Iran over its disputed nuclear program, a standoff that has the Middle East on edge.

The thickness of the oil bearing sand is at the lower end of the predrill estimate and the well is being plugged and abandoned. The results of the East Fyne Appraisal well will be incorporated into t

Afren today announces that Eni Ghana operator of the Keta block which is located in the Volta River Basin offshore Eastern Ghana has commenced drilling of the Nunya1X exploration well with the Mari