European oil companies test Bush's resolve on Iran sanctions

Article Abstract:

The largest oil companies in Europe are testing the Bush Administration's policy towards Iran sanctions. ENI SpA plans to sign a contract this weekend to develop the Darkhovin oil field for approximately $1 billion (Euro1.17 billion).

International politics, Sanctions (International law), ENI SpA

Extra supply won't come in time to tame impact of $50 crude on recovery

Article Abstract:

Oil companies are stressing that they will not be able to increase petroleum output in the short-term. It takes several years for the industry to initiate new production projects. The easy-to-tap oil fields of the Middle East remain off-limits to Western companies, and the industry has already exhausted most of the world's most available petroleum resources. Members of the G-7 are concerned that high oil prices will hamper the global economy, but the International Monetary Fund is forecasting that economic growth will remain brisk.

United States, Market information - general, Forecasts, trends, outlooks, Production management, Commodity & service prices, Crude Petroleum and Natural Gas Extraction, Crude petroleum and natural gas, Crude Petroleum & Natural Gas, Petroleum refining, Middle East, Petroleum & Energy Products, Capacity, Prices and rates, Forecasts and trends, Supply and demand, Market trend/market analysis, Oil and gas exploration, Petroleum exploration, Company pricing policy, Global economy, Oil well development, Economic recovery

Elf and Eni will develop oil field in deal with Iran

Article Abstract:

The national oil company of Iran has given a contract for oil field development to two foreign countries. Elf Aquitaine SA of France and Eni SpA of Italy signed the $1 billion contract to develop an offshore oil field. The deal is the third largest development contract that Iran has signed.

Comment:

National oil company of Iran gives a contract for oil field development to two foreign countries.

Capital expenditures, France, Abstract, Eni S.p.A., Elf Aquitaine S.A.