TOP NEWS PICK : SEPTEMBER 2, 2011

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Brent steady above $114 

Brent crude was steady above $114 a barrel, headed for its second straight weekly gain, while investors eyed key US jobs data for clues on whether the world's largest oil consumer would be able to dodge a recession and leave demand growth intact | Upstream Online

China: Plans a law to make existing buildings energy efficient 

Last week China put forward a legislative report for the implementation of Energy Conservation Law. The report was put forward to the Standing Committee of the National People’s Congress (NPC), during its bi-monthly session | LessEn

France unblocks Libya cash, "unaware" of oil 

PARIS (Reuters) – France has approval to release 1.5 billion euros ($2.16 billion) of Libyan assets to help the country's interim ruling council rebuild the country, French Foreign Minister Alain Juppe said on Thursday | Reuters 

World Bank – Zimbabwe needs US$13bn for its power sector

Zimbabwe’s dilapidated energy sector needs US$13bn – about twice its estimated GDP – to put it back into operation, says World Bank Country Director Kundhavi Kadiresan | IFANDP

Coal shortages speed up China’s clean power plans

The shutdown of increasingly expensive coal-fired power plants in China is causing national power shortages to the tune of 16GW, prompting the Chinese government to expand its clean energy generation plans. The country’s 12th five-year plan unveiled plans for 70GW of wind capacity and 5GW of solar by 2015 | IFANDP

Shell, Ukraine firm up $800m gas deal

Royal Dutch Shell and Ukrainian state-run gas firm Naftogaz have signed a deal on tight gas exploration aimed at boosting gas production in Ukraine, Reuters reported | Upstream Online

Manila bourse eases rules for oil,renewable energy firms

MANILA, Sept 1 (Reuters) - The Philippines' securities regulator has approved the stock exchange's relaxed listing rules for petroleum and renewable energy firms, as the Southeast Asian country seeks to perk up investor interest in the oil and energy sectors | Reuters

Russia Offers Five Blocks For Exploration And Production

The Ministry of Natural Resources of the Russian Federation offered five new blocks for exploration and production in July 2011 | Oil Voice

Shell eyes shale project in South Africa

Royal Dutch Shell has announced proposals to invest $200 million in shale gas exploration in South Africa, but is facing tough opposition from farmers and environmental supporters over ecological concerns | Upstream Online

BP completes acquisition of stake in Indian oil, gas blocks

British oil company BP has completed its acquisition of a 30% stake in 21 oil and gas production sharing contracts (PSCs) operated by Reliance Industries (RIL) in India | Energy Business Review

Pemex eyes debt for Repsol stake

Mexico's Pemex will issue debt to finance a bigger stake in Spanish oil firm Repsol, Pemex Chief Executive Juan Jose Suarez said Thursday, according to a report | Upstream Online

Bailiffs quit BP Moscow office

Staff at BP's Moscow office were back at work on Friday after Russian bailiffs who raided the premises earlier this week called off their search of documents | Upstream Online