http://news.rigzone.comThe latest upstream oil and gas news from around the world.Copyright 2010 Rigzone.com Inc. All rights reserved.http://www.rigzone.com/images/logo_rigz_131x20.gifhttp://www.rigzone.com/news/13120http://www.rigzone.com/news/article.asp?a_id=87280&rss=trueUnderpinned by broader financial markets, crude oil futures climbed above $74 as investors continued to buy into riskier asset classes instead of seeking safe haven in the U.S. currency.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87279&rss=trueMediterranean Oil & Gas has confirmed a significant increase in 2P oil reserves in the Oligo-Miocene carbonate reservoir of the Ombrina Mare field to 40 MMbbls.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87278&rss=trueMax Petroleum has received approval to drill the first exploration well in 2010 for the Astrakhanskiy License.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87277&rss=trueVictoria Oil & Gas noted that the La-106 well was spudded on February 6, 2010 at its Logbaba gas and condensate project in Douala, Cameroon.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87276&rss=trueSaxon Oil Company announced the retirement of Richard Green as President and Chief Executive Officer and member of the Board of Directors.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87275&rss=trueContango's capital expenditure budget for the remainder of calendar year 2010 calls for an investment of approximately $72.5 million to drill up to six offshore wells in the Gulf of Mexico.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87274&rss=trueAccording to a Penn State University study, shale development activity is expected to generate approximately $603 million in state and local tax revenues this year alone.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87273&rss=trueFederal regulators have denied a request by U.S. oil major ConocoPhillips to build a system of bridges to expand oil drilling on Alaska's North Slope, saying the project would harm aquatic wildlife.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87257&rss=trueGhana has blocked the $4 billion sale of a stake in a huge oil field, foiling months of talks between potential buyer ExxonMobil and the stake's owner, Kosmos Energy.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87256&rss=trueOPEC will call for further compliance before considering any output cut if oil falls below $70 a barrel.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87255&rss=trueMarathon Oil has completed the sale of a 20% undivided working interest in Angola Block 32 to Sonangol's wholly owned subsidiary.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87254&rss=trueExxonMobil Exploration and Production Norway AS has received consent from PSA Norway to conduct manned underwater operations in 2010.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87253&rss=trueThe Petroleum Safety Authority Norway has initiated an investigation into a gas leak which took place at Mongstad in western Norway on February 8.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87252&rss=trueThe Norwegian Petroleum Directorate's report for the fourth quarter of 2009 provides an overview of the oil and gas production, drilling activity, new discoveries and seismic acquisition during the year. Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87251&rss=trueNexen, operator of production license 419, is in the process of completing the drilling of wildcat well 35/9-5, which will be classified as dry.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87250&rss=trueRealm Energy is in negotiations to acquire an additional European shale gas play.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87249&rss=trueGastem reported the initial test results of the single frac completions at La Presentation No1 and St-Hyacinthe No1 vertical wells, located in the St. Lawrence Lowlands, Quebec.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87248&rss=trueEncore and its co-venturers have procured rigs for both Catcher (late March to early April spud) and Cladhan (late May to early July spud), both located in the UK North Sea. Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87247&rss=trueCameron reported net income of $97.3 million, or $0.41 per diluted share, for the quarter ended December 31, 2009, compared with net income in the prior year's fourth quarter of $146.0 million, or $0.66 per diluted share.Tue, 09 Feb 2010 00:00:00 GMThttp://www.rigzone.com/news/article.asp?a_id=87246&rss=trueKnowledge Reservoir has realigned and strengthened its business structure and service offering to enable the company to more aggressively pursue several key market initiatives.Tue, 09 Feb 2010 00:00:00 GMT