Recently, Occidental Petroleum Corp. (OXY) entered into a partnership to develop oil and natural gas fields in Bahrain. Occidental along with partners Mubadala Development Company (Mubadala) and the National Oil and Gas Authority of Bahrain (NOGA) formed a new joint operating company, Tatweer Petroleum-Bahrain Field Development Company, which will serve as the operator for the Bahrain field.   The company will operate under the Development and Production Sharing Agreement signed in April 2009 by all three partners, approved by the parliament of Bahrain in May 2009 and ratified by His Majesty King Hamad bin Isa Al Kalifa. Tatweer Petroleum will begin start operations in the Bahrain field immediately. The operating team would include individuals from the Bahrain Petroleum Company (Bapco), Occidental and Mubadala employees and few local employees.   Oil and natural gas production from the Bahrain field is expected to peak at 100,000 barrels per day and ...

A consortium, led by Eni SpA (E) was awarded the license to develop the giant Zubair oil field in Iraq. Eni, which is the operator, will have a participation of 40% in the consortium, subject to adjustments. The other members include Occidental Petroleum Corp. (OXY) and Korea Gas Corp. It also includes the participation of Southern Oil, the Iraqi state company, who has a 25% interest in the field.   The Zubair field currently produces 195,000 barrels of oil per day (Bbls/d). As a result of the expansion program, production at the field is expected to reach 1.125 million Bbls/d over the next seven years.   Eni’s job at the field consists of drilling more than 200 wells, construction of treatment facilities and the required collection network, as well as the overhaul of the existing plants. The service contract expires in 20 years with a provision to ...

Today we are featuring top-performing “Energy" equity mutual funds, which primarily invest in energy or natural resources companies.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Energy Equity Funds.

3 Power Picks

Nuveen Tradewinds Global Resources A (NTGAX) was incepted in December 2006. It seeks long-term capital appreciation by investing in securities selected using an eclectic, value-oriented process.

The fund invests in securities that appear undervalued due to investor overreaction, misperceptions and short-term focus and that have the prospect of strong or improving business fundamentals.

The fund’s top holdings include Newmont Mining Corp. (NEM), Suncor Energy Inc. (SU) and Newcrest Mining Ltd.

Calvert Global Alternative Energy A (CGAEX) aims to achieve long-term growth of capital by investing at least 80% of its net assets in equity securities of companies involved in alternative energy.

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Today we are featuring top-performing "Energy" equity mutual funds, which primarily invest in energy or natural resources companies.

Investors can find such funds by checking out the entire list of the Zacks #1 Rank Energy Equity Funds.3 Power Picks

Nuveen Tradewinds Global Resources A (NTGAX) was incepted in December 2006. It seeks long-term capital appreciation by investing in securities selected using an eclectic, value-oriented process.

The fund invests in securities that appear undervalued due to investor overreaction, misperceptions and short-term focus and that have the prospect of strong or improving business fundamentals.

The fund's top holdings include Newmont Mining Corp. (NEM), Suncor Energy Inc. (SU) and Newcrest Mining Ltd.

Calvert Global Alternative Energy A (CGAEX) aims to achieve long-term growth of capital by investing at least 80% of its net assets in

...

Asian stock markets jumped Friday after Japanese production numbers surged the most in 56 years and India's economy grew faster than economists had forecast.  Japan's Trade Ministry said industrial output in that country jumped 5.2% in April and India's economy grew an unexpected 5.8% in the first quarter, beating analysts' projections.  The numbers buoyed investors' confidence and trading picked up as the session progressed.  Japan's Nikkei 225 stock average added 0.8% to 9,522.50 while Hong Kong's Hang Seng advanced 1.6% to 18,171.00.  India's Sensex jumped 2.8% to 14,701.98 as news of the country's economic growth took investors by surprise.  South Korea's Kospi edged up 0.3%.

Stock futures show Wall Street is headed for higher open.  Dow futures rose 0.8% at 8,450. Standard & Poor's 500 index futures rose 0.7% to 911.80 and Nasdaq 100 index futures rose 1% to 1,433.00. 

Although government's ability to fund its massive debt

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With oil finally trading back above the $50-a-barrel level, it’s time to recognize that crude prices are probably not going to remain low for very long, and may end up fluctuating in the $50-$80 range - regardless of what happens to the prices of other commodities. After all, the economies in both China and India are apparently continuing to grow at a fairly rapid pace, and those countries’ demand for transportation and other forms of energy are thus likely to keep pace. For some minerals, the period of high prices from 2005 to 2008 has produced a surplus. But no such effect has been seen in the oil market, as large new discoveries are hard to find. If we’ve learned anything in the last few years, it’s that political risk is very important in oil investments. It’s not just a question of outright ...

Yet another 300 point loss on a Friday, TGIF indeed.  But at least gas is getting cheaper and with that the stocks that make up those wonderful oil companies.  Alas, time to check yo self. ...