Po Valley, Saffron terminate asset sale agreement

Po Valley Energy Ltd., Perth, and Saffron Energy PLC have reached an agreement to not proceed with the sale of Po Valley Operations Pty. Ltd. and its north Italian gas assets to Saffron for a consideration of 200 million Saffron shares. Source: News


MARKET WATCH: Crude oil prices drop on climbing US oil inventory

The light, sweet crude oil contract for April dropped more than a $1.30 to settle under $62/bbl on the New York Mercantile Exchange on Feb. 28. The Brent price for April fell 85¢ on the London market to settle just under $65.80/bbl. Source: News


CSIS conference examines US shale oil’s short-term pluses, minuses

Speakers at a day-long conference examining US shale oil’s short-term prospects repeatedly turned to Permian basin operations as examples of progress despite lower crude oil prices as operators reduced costs. But those same producers could face problems if transportation capacity doesn’t increase and local opposition mounts, other speakers said during the Feb. 27 event at […]