Ivanhoe Energy has signed a partnership deal with Japan's Inpex Corp. to develop an oilfield in Iraq that Ivanhoe believes is suitable for its heavy-oil upgrading technology.

Zappa Resources (TSX.V:ZPA) is a junior resource company with projects in Canada, the U.S. and now, Tunisia.

US oil company Chevron Corp. on Friday, April 27th, reported its earnings surged yet again to start 2007 as the oil company cashed out of a Netherlands venture and cashed in on lucrative refining margins that have contributed to high gasoline prices.

China National Offshore Oil Corp.(CNOOC) said on Thursday that its daily output of oil and gas increased by 5.1 percent in the first quarter over the same period of 2006 to reach 473,280 barrels of oil equivalent.

Oil prices pushed above $US66 a barrel on Friday, April 27th, after Saudi Arabia announced the arrests of 172 Islamic militants, some of whom planned to attack oil fields.

CanArgo Energy Corporation: Georgian Operations Update

Royal Dutch/Shell and its partners have agreed to pay a substantial annual dividend to the Russian government as part of the deal to salvage the $20 billion Sakhalin-2 oil and gas project in Russia's Far East. This information was reported by the Wall Street Journal on Thursday, April 26. The paper cited people familiar with the situation.

ExxonMobil announced on Wednesday, April 25, that its subsidiary Exxon Neftegaz Limited has completed drilling of the Z-11 well, the longest measured extended-reach drilling well in the world. It is located on Sakhalin Island at Russia's Far East and is part of Exxon-led Sakhalin-1 oil and gas project. The record-setting well has a total measured depth of 37,016 feet (11,282 meters) or over seven miles, Exxon said in its official press release.

Mexico's state-owned oil company, Petroleos Mexicanos, better known as Pemex, celebrated its 69th birthday on March 18, amid concerns that it is on the brink of insolvency and its production is falling. As VOA's Greg Flakus reports from Houston, Mexico, still has plenty of oil, but internal politics prevent the investment needed to develop the resources.