Wednesday, October 5, 2011

TOP NEWS PICK : OCTOBER 5, 2011

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India: Change of guard at ONGC
India has formally appointed Sudhir Vasudeva as the new chairman of state-owned Oil & Natural Gas Corporation (ONGC), a government statement said on Monday | Upstream Online

Gazprom to start gas supply to Germany via Nord Stream November 8
Russia's Gazprom will start supplying gas to Germany through the 27.5 billion cubic meter/year Nord Stream pipeline on November 8, company CEO Alexei Miller said Monday | Platts

Australia LNG 'on Qatari radar'
Qatar is reportedly looking to buy into Australia’s expanding liquefied natural gas sector as it looks to head off the biggest threat to its position as the world’s number-one LNG exporter | Upstream Online

Nigeria: Explosion rocks Agip facility in Bayelsa
Yenagoa- An oil facility, the Obama flow line (Tereke) owned by the Nigerian Agip Oil Company (NAOC) in the Nembe local government area of Bayelsa State was Sunday rocked by explosion | Vanguard

Gaping Hole in Arctic Ozone
For the first time since record-keeping began, destruction of the
ozone layer over the Arctic in early 2011 was comparable to that in the Antarctic ozone hole, scientists report. | New York Times

EU carbon costs may force refiners to relocate, close
European Union plans to make oil refiners pay for carbon emissions from 2013 could accelerate European refinery closures and encourage them to relocate outside the EU to avoid higher operating costs that could run into millions of euros a year | Reuters

Total: Don't Understand Legal Basis for Shale Gas Permit Cancellation
A spokeswoman for French oil and gas major Total said Monday the company was "very surprised" by the government's decision to cancel its exploration permit on shale gas fields in Montelimar, in the south of France | Rigzone

Exxon Starts Fracking Hard In Eastern Europe
Exxon Mobil has been expanding its footprint on shale exploration efforts in Europe. The company recently inked a pact with Ukrainian state oil and gas firm Naftogaz to explore and develop Ukraine’s shale gas reserves | Forbes


WTI Falls Below $77
Taking the lead from equities markets, oil futures settled lower Monday | Rigzone

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