TOP NEWS PICK : JUNE 17, 2011

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Brazil, West Africa to dig deep on drilling

Brazil is set to be joined by West Africa in a huge deepwater drilling spend in the next four years, a report claims | Upstream Online

IEA calls on Opec to boost output

The International Energy Agency (IEA) said there a “clear need” for Opec to boost output on stronger Asian demand and weaker non-Opec supply | Upstream Online

Kazakh state ‘takes Karachaganak stake’

Kazakhstan’s government appears to have won a tussle with the operators of the country’s most promising gas field as it agrees a large stake holding, a report claims | Upstream Online

Peru: Upstream Investors unsettled by Humala win

Peru’s Oil and Gas Industry must wait to see if President-elect Humala follows up on his promises of radical energy-sector reform  | Petroleum Economist

Siemens takes turbines to another level with 6-MW giant

Siemens Energy has installed the first prototype of its next generation offshore wind turbine in Høvsøre, Denmark, and has today initiated the first trial operation. The new SWT-6.0-120 wind turbine with a power rating of 6 megawatts (MW) and a rotor diameter of 120 metres uses the innovative Siemens direct drive and proven rotor technology | Renewable Energy Magazine

Ghana- Oil and Gas revenue to boost health delivery – Health Director

Takoradi, June 14, GNA — The National Chairman of the District Directors of Health Services Group, Dr Kofi Setheland, has expressed optimism that the country’s oil and gas revenue would help to improve health delivery | Ghana News Agency

GE pens Petrobras subsea deal

GE Oil & Gas subsidiary Wellstream has won a $200 million long-term flexible pipe and subsea equipment logistics services contract with Petrobras, triggering additional investments of $90 million in a new logistics base adjacent to the US company’s flexpipe fabrication plant near Rio de Janeiro | Upstream Online

TNK-BP clips Geneva trading wing

TNK-BP has put off plans to set up an oil trading wing in Switzerland but is eyeing the Polish refinery market, according to reports | Upstream Online

Virgin America Signs $1.4billion Deal for a Green Jet Engine

With aviation fuel prices soaring and airline profits plummeting, going green may be as much about survival as sustainability | Forbes

US, Saudi ‘oil-swap deal’ falls flat

US and Saudi Arabian officials failed with an “unprecedented” oil-swap deal aimed at driving down the soaring cost of oil, a report claims | Upstream Online

Oil climbs above $95 amid Greece debt fears

Oil prices inched above $95 a barrel Thursday, recovering slightly as investors bought back into the market after big losses sparked by Europe's deepening debt crisis and a stronger U.S. dollar | Atlanta Business News

Total and SunPower To Create New Global Leader in Solar Industry

Total and SunPower Corp. today announced the success of Total's all-cash tender on SunPower to create a new global leader in the solar industry | OilVoice

India's LNG imports in April up 24% year-on-year to 810,000 mt

India imported 810,000 mt of LNG in April, up 24% from 651,000 mt in the corresponding month last year but down 13% compared with March imports of 933,000 mt, official data published by the Indian oil ministry's Petroleum Planning and Analysis Cell showed Wednesday | Platts

Big Oil business model 'not broken'

The traditional business model of "Big Oil" – the major integrated oil company – is far from broken, said an RCM energy fund manager today, despite the scepticism in some quarters about future growth prospects | Upstream Online

US panel passes bill to fast-track Keystone XL Pipeline decision

The US House Energy and Commerce Subcommittee on Energy and Power Wednesday approved a bill to help fast-track the construction of Transcanada’s (TSX:TRP) (NYSE:TRP) proposed Keystone XL Pipeline  | Pennenergy

Chevron takes 'measured' shale steps

Chevron plans to take a measured approach to shale gas development despite a flurry of deals in the past year and the industry's huge ambitions for the emerging resource | Upstream Online

Water Standard in EOR agreement with Shell

US-based enhanced oil recovery specialist Water Standard has signed a global frame agreement with Anglo-Dutch supermajor Shell for engineering services related to water-based EOR methods | Upstream Online

China puts Nuclear Power Plans on Hold

China is putting its expansive exclusive nuclear power plans on hold. The decision comes after months of deliberations and soul searching after the Japanese nuclear disaster at the Fukushima power plant in March had the whole world turning against nuclear energy | Forbes

Pipelines key to growth in North American crude output, IEA says

North America is emerging as a pivotal source of global crude supply, but will have to overcome major opposition to the building of new pipelines in order to maximize production growth | The Globe and Mail

First Transatlantic Biofuel-Powered Flight Takes Off Friday

The first great race of the biofuel aviation age has begun | Forbes