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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Statoil finds new oil in North Sea

Category : Business, World News

Norwegian energy giant Statoil says it has found ‘significant’ new oil deposits in the North Sea of between 40 and 150 million barrels.

Read more: Statoil finds new oil in North Sea

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Kilimanjaro Capital Ltd. Signs Deal for Disputed Offshore Oil in Cabinda

Category : Stocks

CALGARY, ALBERTA–(Marketwire – Nov. 19, 2012) - Kilimanjaro Capital Ltd., a private Canadian company focusing on emerging nations in Africa, is pleased to announce that on 17 November 2012 it signed a formal Offshore Oil Assignment Agreement with the Republic of Cabinda. Cabinda’s prolific offshore blocks have produced up to 700,000 barrels of crude oil per day and accounts for much of OPEC member Angola’s output.

See more here: Kilimanjaro Capital Ltd. Signs Deal for Disputed Offshore Oil in Cabinda

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Iraq oil output to double by 2020: IEA

Category : Stocks

Production could reach 6.1 million barrels per day by 2020, up from the current output of around 3 million barrels a day, and top more than 8 million barrels by 2035.

Read more here: Iraq oil output to double by 2020: IEA

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Uganda confirms new oil deposits

Category : Business

Uganda increases the estimates of the country’s oil resources by 40%, or one billion barrels, thanks to new discoveries.

Read the original here: Uganda confirms new oil deposits

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Allied Energy, Inc. (AGGI: OTC Link) | Allied Energy Provides Update on Ragsdale #1 Oil and Gas Well (Cherokee County, TX)

Category : World News

Allied Energy Provides Update on Ragsdale #1 Oil and GasWell (Cherokee County, TX)

BOWLING GREEN, KY–(Marketwire – August 22, 2012 – Allied Energy, Inc. (the “Company”) (OTCMarkets: AGGI) announces today, the following completion and production update for the Ragsdale #1 Well located in Cherokee County, Texas.

The Company commenced drilling operations of the Ragsdale #1 well on March 30, 2012.

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Noble Energy ([[NBL]] +1%) agrees to buy a 35% stake in in most of the Falkland Islands licenses of Falkland Oil & Gas (FLKOF.PK) for cash and funding from NBL for certain future drilling and exploration costs. Falkland estimates $180M-$230M in…

Category : Stocks, World News

Noble Energy (NBL +1%) agrees to buy a 35% stake in in most of the Falkland Islands licenses of Falkland Oil &

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EIA Petroleum Inventories: Crude -6.5M barrels vs. consensus of -1.1M. Gasoline -2.2M vs. consensus of +0.7M. Distillates -1.0M vs. consensus of +1.2M.

Category : World News

EIA Petroleum Inventories: Crude -6.5M barrels vs. consensus of -1.1M. Gasoline -2.2M vs. consensus of +0.7M. Distillates -1.0M vs. consensus of +1.2M. Post your comment!

More: EIA Petroleum Inventories: Crude -6.5M barrels vs. consensus of -1.1M. Gasoline -2.2M vs. consensus of +0.7M. Distillates -1.0M vs. consensus of +1.2M.

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Ireland offshore oilfield has over 1bn barrels, says drilling company

Category : Business

Providence Resources announce Barryroe field off County Cork could produce 1.6bn barrels and be as important as North Sea

Ireland’s first offshore oilfield contains more than 1bn barrels of oil, an exploration company drilling off the County Cork coast has announced.

Providence Resources said Wednesday’s results, which show that there could be up to 1.6bn barrels in the oilfield at Barryroe, far exceeded their previous projections.

The company said oil rigs could be operational off the southern Irish coastline within about three years.

Tony O’Reilly, its chief executive, said the volume found in the Irish Sea could become as important to Ireland as the North Sea has been for the UK economy.

At present Ireland imports 100% of its oil – a quarter of which is refined not far from Barryroe.

The new results come after the successful drilling and testing of the Barryroe well back in March this year. Over the last few months data from the site has been taken to measure the volume of oil in the field.

Following Wednesday’s results O’Reilly described Barryroe as “the well that just keeps giving”.

He told the Guardian: “What really makes this special is that while we knew we had this big discovery, it has come in a lot bigger than we first expected. We think it is a hugely important moment in time for Ireland and its territorial waters.

“This well in Ballyroe is bigger than a lot of fields in the North Sea. The next question is – what will be the recovery rate? In the North Sea it’s 38%. This is a very big tank of oil at Barryroe. Now we have to look how to develop this. The industry is beginning to speculate in London and they would have higher recovery rates than previously they thought possible from our field.”

O’Reilly claimed the Barryroe results and the potential of other exploratory oilfields in five other locations off the Irish coast had huge implications for the country’s macro-economy.

“Ireland consumes about 140,000 barrels of imported oil every day so imagine if the country started producing its own. In terms of security of supply, the jobs created and the revenue to the taxpayer this is very good news for the entire island at a time of recession.”

He added that it was fortunate that the oil had been located off the County Cork coast as it already contained an excellent industrial infrastructure that could help in the construction of future oil wells.

“You have the biggest oil refinery in the country that takes in about 25% of all oil Ireland consumes. Alongside that you also have the Kinsale gas field off Cork. So in terms of infrastructure we are perfectly positioned to get that oil out.”

The next step for Providence is to negotiate with big international oil companies operating in the North Sea and the Gulf to form a partnership to extract the oil.

Charger Energy Corp. Announces 2011 Results

Category : World News

Conversion of natural gas volumes to barrels of oil equivalent (boe) are at 6:1.

Continued here: Charger Energy Corp. Announces 2011 Results

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Accompanying Laffer’s and Moore’s thesis about taxes and migration in the WSJ is an interview with demographer Joel Kotkin about California, which has lost nearly 4M people in 20 years. Kotkin blames high taxes, real-estate prices – due to…

Category : World News

Accompanying Laffer’s and Moore’s thesis about taxes and migration in the WSJ is an interview with demographer Joel Kotkin about California, which has lost nearly 4M people in 20 years. Kotkin blames high taxes, real-estate prices – due to restrictions – and energy costs, due to green policies that also preclude the development of 25B barrels of shale oil. 31 comments!

Read the rest here: Accompanying Laffer’s and Moore’s thesis about taxes and migration in the WSJ is an interview with demographer Joel Kotkin about California, which has lost nearly 4M people in 20 years. Kotkin blames high taxes, real-estate prices – due to…

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