Tuesday, November 29, 2011

TOP NEWS PICK : NOVEMBER 29, 2011

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Nigeria withdraws $2 bln from oil savings: finance 
ABUJA (Reuters) - Nigeria has withdrawn $2 billion from its crude oil savings for 'various projects' and distributed more money in October to the three tiers of government than the previous month, the minister of state for finance said on Monday | Reuters

Denmark aims for 100% renewable in 2050 
Danish government proposals have called for generating just over half of its electricity from wind turbines by 2020 and all of its energy from renewable sources in 2050 | IFANDP

Japanese LNG Terminal Opens after Disasters 
The only Japanese liquefied natural gas import terminal impacted by the March earthquake and tsunami is set to reopen on Tuesday with the arrival of a ship carrying the fuel from Malaysia | Journal Of Commerce

Renewables future of energy, IEA says 
PARIS, Nov. 28 (UPI) -- The significance of renewable energy is expected to increase in the coming decades but time is running out for policy reforms, the IEA said from Paris | UPI.com

China’s rush into renewables: The way the world turns 
Ten years ago, the smoggy plains of Baoding were known mostly for producing donkey meat | Financial Times

Rosneft to pay $2.2bn for Carabobo access 
Russia's state-controlled oil giant Rosneft will pay $1.2 billion up front and also give a $1 billion loan to Venezuela's state company PDVSA for access to the Carabobo 2 Block | Upstream Online

Ugandan kingdom 'wants 10% cut' 
A kingdom in Uganda is to demand a 10% cut of oil revenues once the country gets its nascent hydrocarbons industry up and running, a report claims | Upstream Online

US trio turn on Libyan taps 
A trio of US oil stalwarts have turned the taps on at two more fields in Libya as the war-torn North African country continues to get production back on line | Upstream Online

Total set to appeal against cancellation of French shale gas permit: CEO 
Total is to appeal against the French government's decision earlier this year to cancel its permit for the exploration of shale gas, company CEO Christophe de Margerie said at the weekend | Platts

Shell, Mitsubishi sign Iraqi gas deal 
BAGHDAD, Nov. 28 (UPI) -- A deal to process natural gas flared off from oil fields in southern Iraq marks a new era in the country's recovering energy sector, an executive at Shell said | UPI.com

Anadarko sees more gas from huge Mozambique field 
NEW YORK (AP) -- Anadarko Petroleum Corp. said Monday that a natural gas field discovered off the coast of Mozambique is the largest the company has ever found | Citizen Times

Nanoparticle Monster Batteries Could Make Wind and Solar Power More Practical 
New research from Stanford University could point the way to large-scale, long-lasting power grid batteries | Technewsworld

Canada to pull out of Kyoto Protocol next month 
Canada will announce next month that it will formally withdraw from the Kyoto Protocol, CTV News has learned | CTV News

Shell Leads Repsol, ConocoPhillips in Search for Arctic Oil 
Royal Dutch Shell Plc (RDSA) is leading the hunt for oil in the Arctic, which may hold the equivalent of a fifth of proven global reserves, followed by Repsol YPF SA (REP) and ConocoPhillips (COP), according to Sanford C. Bernstein & Co | Bloomberg

Chevron spill exposes Brazil oil risks 
Brazil's government has been quick to vilify Chevron for an offshore oil spill, but the biggest victim of the accident could turn out to be its own ambitious dream of exploiting its new oil riches, a report said | Upstream Online

“Smart Grid” project could provide alternative energy system 
Turning the sun or wind into reliable power for homes and businesses isn't as simple as hooking up a PV panel or a windmill | Khon2

Ethiopia launches six wind, one geothermal power project 
Ethiopia isn’t a country that comes up often when discussing renewable energy, but the Ethiopian Electric Power Coroporation (EEPCO) this past week announced it’s starting construction of six wind power projects and one geothermal power plant | EnergyNow

87% of Nigerians reject subsidy removal – Survey 
This survey was carried out with a view to ascertaining what Nigerians think of the proposed removal of the subsidy on petrol. Verdict: An overwhelming rejection of the plan | SweetCrude

Why fuel subsidy must go – Sanusi 
Sanusi Lamido Sanusi, the Central Bank of Nigeria (CBN) governor, has warned of grave economic consequences for Nigeria if Nigerians did not support the proposed removal of oil subsidy | SweetCrude

African Petroleum snaps up Senegal blocks 
Australian junior African Petroleum has been awarded exploration permits covering two blocks off the coast of Senegal | Upstream Online

Iranian Oil Ministry to offer energy contracts soon 
Iran has announced it will soon start offering contracts for 21 oil and gas fields to domestic and foreign investors, Fars news has reported | AMEinfo.com

Africa's East Coast in Natural-Gas Spotlight 
The east coast of Africa confirmed its place as one of the brightest spots on the global energy landscape after Anadarko Petroleum Corp. sharply raised its estimate for the amount of natural gas contained in a big field it has found off the coast of Mozambique | WSJ

Iran warns against oil oversupply to market ahead of OPEC meeting 
TEHRAN, Nov. 28 (Xinhua) -- Iran's representative to the Organization of Petroleum Exporting Countries (OPEC) warned the cartel against crude oil oversupply to the market, the English- language daily Tehran Times reported Monday | Sina

Senator says PIB is dead in National Assembly 
The possibility of passing the Petroleum Industry Bill (PIB) into law is dim as there is no such document before the National Assembly for consideration, according to the chairman of the Senate Committee on Rules and Business, Senator Solomon Ita Enang | SweetCrude

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