Cranfield University’s (www.cranfield.ac.uk) School of Applied Sciences used @RISK software from Palisade Corporation (www.palisade.com) during a research project to encourage business managers in the oil and gas industry to invest in the long-term reliability of production equipment. The assignment illustrated that time and resources spent early on in the product design lifecycle can significantly increase return on investment (ROI).

Prysmian To Expand Operations In The Oil&Gas Services Industry Signing A 4-Year Frame Agreement With Brazil’s Petrobras For The Design And Supply Of Flexible Pipes.

OPEC Secretary-General Abdullah el al-Badri has said oil prices would likely go higher and that the group was ready to raise production if the price pressure was due to a shortage of supply-- something he doubted.

Industry lobbyists fund Clinton campaign while she votes to give them $10 billion in tax breaks.

Opening address to the 148th Meeting of the OPEC Conference by HE Dr. Chakib Khelil, Minister of Energy and Mines of Algeria and President of the Conference.

One of the U.S. biggest oil and gas companies - Occidental Petroleum Corp. –said Tuesday that its profit increased by 56 percent in the fourth quarter due to rewards from surging oil prices.

Thailand's top oil exploration firm, PTT Exploration and Production (PTTEP), will make its first investment in Australia under a joint offshore drilling project.

Galp Energia, a Portuguese oil and gas company, said that it planned to bay natural gas from Venezuela and to help building a liquefaction plant there.

Iran's president Mahmoud Ahmadinejad says crude prices, hovering close to $US100 a barrel, are still lower than the actual value.

An offshore oil discovery and promising fields near the find could make Brazil to become one of the world's major exporters, but full-scale extraction is unlikely until 2013 and will be very expensive.

Brazil has discovered huge new petroleum reserves in its south that could turn the country into one of the biggest oil producers in the world, the Government and its state-controlled oil company announced.

Energy experts from around the world have gathered in Houston for a three-day conference on the issue of peak oil, which involves predictions that world oil production will soon reach its peak and then go into decline. This could cause a global economic crisis since demand for energy is not expected to slow, but, in fact, is expanding rapidly.