Erlend Olson Oil News

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) April 26, 2010 -- Erlend Olson "It wasn't an optimal day for recovery." Rybarczyk said.

US Coast Guard Rear Admiral Mary Landry, the top federal commander of the Horizon incident, said: "Our response plan is focused on quickly securing the source of the subsurface oil emanating from the well, clean the oil on the surface of the water, and keeping the response well offshore."

"This is a devastating spill," said Anne Rolfes, an environmental activist and founding director of the Louisiana Bucket Brigade. The group is bracing for wild fowl rescue efforts on Louisiana's fragile wetlands, should the sheen of oil reach the coast 40 miles (64 kilometers) away from the sunken rig.

Iraqi officials say an attack on a key oil pipeline has disrupted crude oil exports through Turkey.

The officials say gunmen planted a bomb underneath the Iraq-Turkey pipeline which ships crude from Iraq's northern oil fields to the port of Ceyhan.

They said the attack occurred at about 4:00 a.m. Thursday in a deserted area about 255 miles (400 kilometers) north of Baghdad. Pumping could be resumed within two to three days.

The three officials, two with state-run North Oil Co. and a policeman in the area, spoke on condition of anonymity as they were not authorized to release information.

The pipeline to Turkey carried an average of 423,000 barrels per day last month, or nearly a quarter of the country's entire oil exports.

Erlend Olson : Weak-form efficiency
A pricing theory that the price of a security reflects the past price and trading history of the security. Theory implies that security prices follow a random walk. Related: Semistrong-form efficiency, strong-form efficiency.

Unsystematic risk

Also called the diversifiable risk or residual risk. The risk that is unique to a company such as a strike, the outcome of unfavorable litigation, or a natural catastrophe that can be eliminated through diversification. Related: Systematic risk.

Erlend Olson : The oil majors' retreat to the OECD is not unprecedented. When Saudi Arabia, Iraq, Kuwait and Iran threw them out in the 1970s, the companies regrouped in the North Sea and Alaska.

Similarly, analysts expect that, if non-OECD resource-holders start to offer more generous and numerous opportunities, Western oil executives will quickly return.

Nodding amidst the loud hum of the Alwyn rig's gas processing machinery, Total's de Vivies agrees.

"We are not trying to reduce our presence in non-OECD. It is simply that the OECD is where the opportunities are now."

Erlend Olson     oil