Oil prices are sliding after Libyan rebels recaptured oil ports and promised to resume exports. Much of Libya's oil exports go to Europe.

Benchmark crude had jumped 24 percent since mid- February as fighting in Libya squeezed off oil shipments that previously supplied nearly 2 percent of the world's oil.

How quickly the rebels could resume exports is unclear, as is who would risk buying the oil. The news was still enough to drop oil by $1.38 to $104.04 per barrel in morning trading, today March 28, 2011, on the New York Mercantile Exchange. Read more »

In most countries of the world all mineral resources belong to the government. This includes all valuable rocks, minerals, oil or gas found on or within the Earth. Organizations or individuals in those countries cannot legally extract and sell any mineral commodity without first obtaining an authorization from the government. Read more »

A new salary survey reveals that American oil and gas industry professionals’ wages have held up well despite uncertainty in the wider economy

The Salary Guide, produced by Hays Oil & Gas in partnership with specialist jobsite Oil and Gas Job Search, shows that US oil and gas professionals’ salaries have remained resilient, with wages marginally higher than last year at US $117,000.

Daily contract rates, a key indicator of future salary trends, registered slight growth, from $820 last year, to $840 in 2011. Read more »

Why invest in mineral rights. Because mineral rights in and off themselves can be of value regardless if wells have been drilled on the land. Non producing mineral rights can appreciate significantly as operators move into the area and the prospects of obtaining royalty income for the mineral rights improve. Further royalty income can increase as operators drill more wells on a given piece of land. Read more »