The company said it had found relatively poor oil quality and a smaller reservoir size than expected at its Fulla prospect.
But in a statement to the stock exchange on Friday, Faroe said extensive modelling since then had confirmed "relatively poor oil quality, smaller than expected resource size and limited access to infrastructure".
Oil companies have also been in the "eye of the storm", but the boss of state-run oil giant Sinopec says the country's oil quality standards are to blame for pollution, Economic Information Daily reports.
Real Extra Virgin Olive Oil: High quality olive oil makes a great gift and not just for the obvious reasons that it tastes great, is good for you, and makes so many dishes taste better.
But this was Bissell's vision of the "new new thing"--get sufficient volumes of rock oil by drilling for it refine it into a high quality illuminating oil, and then take market share away from existing illuminants and, at the same time, build wholly new markets.
That started changing with enormous geopolitical consequences after easy, high quality oil was found in the Arabian Peninsula and other parts of the Middle East.
Dana Petroleum Egypt has reported several significant exploration successes at North Zeit Bay during 2011, including encountering good quality oil-bearing sands and establishing two gas condensate field discoveries.
The octopus is also a stand out, with quality olive oil on the side.
Valero Energy , a refiner that processes lower quality crude oil into products like gasoline and jet fuel.
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Much of the new oil is of inferior quality, selling for less than a third of average international prices.
Their fries are hand cut in the back of the store throughout the day, soaked in water then double-cooked in high-quality peanut oil.
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Salicornia produces a high quality vegetable oil on sea water.
One unexpectedly hit high-quality light crude oil, enough to produce 100 barrels a day.
As plant genetics research advances, however, industry scientists hope that it will be possible to breed cottonseed that produces superior flour, high-quality lint, and oil, so that almost every ingredient in a birthday cake can be produced with the leftovers from Nelson's cotton production.
At a high temperature and pressure, gasification converts coal, or other carbon fuels, into synthesis gas that is either burned in a turbine to produce electricity, as in Summit's case, or turned into other products, like diesel oil, fertilizer and pipeline-quality natural gas.
"Imagine if tomorrow you could announce a new energy plan that would in one stroke cut your constituent's gasoline bill in half, reduce our oil imports, improve our air quality, enhance national security, strengthen the dollar, reduce greenhouse gas emissions and create tens of thousands of new jobs in the U.S, " McClendon said.
Even in areas with no nearby oil and gas drilling, the water quality in some aquifers changes naturally, groundwater experts say.
It will also impose costly refinery modifications and require and necessitate increased importing of higher quality, non-California crude oil feedstock.
Valentina Musco Puleo, daughter of store co-owners Joe and Agata Musco, traveled to Italy to find producers whose olives and oil met her family's criteria for quality and value.
"A leading engineer and manufacturer of high-quality, flexible pipeline products for oil and gas transportation in the susbsea production industry, " Wellstream's acquisition demonstrates a double interest by GE to both tap the deepwater drilling business and enter one of the world's most dynamic economies in the sector, Brazil.
Bitumen is the term for oil that is of a tar-like consistency and quality as it exists in an underground formation.
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And in Texas, the Texas Commission on Environmental Quality (TCEQ) has found no connections between oil and gas operations and immediate health concerns.
Making the announcement today, the Transportation secretary said the new minimums would improve air quality and reduce the country's dependence on foreign oil.
The most obvious is quality control: the market is infested with snake-oil salesmen, and they are harder to spot from half a world away.
This fails to recognize the oil and gas production already was subject to extensive federal and state air quality regulations before the new rules.
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The reactor, according to Petrobras, was built with technology to produce oil with low sulfur content, respecting the new environmental standards on fuel quality.
Competition will be tough: tariffs on the new pipeline are ten times lower than for the line through Chechnya, and the crude oil received at Supsa, known as Azeri Light, is of higher quality than Russia's Urals Blend that flows via Novorossiisk.
Quality public services in Norway are funded by taxes with a strictly limited use of oil wealth.
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