Monday, May 28, 2012

TOP NEWS PICK : MAY 28, 2012

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Eni makes significant new oil discovery in the Egyptian Western Desert 
Eni has made a significant oil discovery at the Emry Deep exploration prospect, located in the Meleiha Concession, in the Western Desert of Egypt, 290 kilometers south west of Alexandria | Oil Voice

Kashagan partners in $1bn kitty 
International partners in the monster Kashagan oilfield in Kazakhstan are to pay almost $1 billion to cover the state’s portion of investment, a report claims | Upstream Online

South Africa to buy crude from Nigeria 
SOUTH Africa’s Deputy President, Kgalema Motlanthe has said his country is looking to Nigeria for the purchase of its crude oil | SweetCrude

Brent crude oil rises above $107 on Greece, Iran 
Brent crude oil rose above $107 per barrel on Monday as fears of a euro zone break-up eased but Middle East oil supply worries resurfaced as talks over Iran's nuclear programme faltered | Reuters

Chinese Commodities defaults prompt mystery 
Over the last two weeks, Chinese consumers of thermal coal and iron ore have been defaulting on their contracts, sending prices sharply down | Financial Times

Fridman quits TNK-BP 
Mikhail Fridman has resigned as chief executive of BP's joint venture operation in Russia, TNK-BP | Upstream Online

Debt-ridden Ghana oil refinery secures bailout 
TEMA, Ghana (Reuters) - Ghana's only oil refinery has secured some $900 million in financing from banks BNP Paribas andStandard Chartered to help it clear its debt backlog and purchasecrude oil supplies, its manager said on Thursday | Reuters

China aims to launch crude oil futures within the year 
The chairwoman of the Shanghai Futures Exchange (SHFE) has said that China aims to launch crude oil futures within the year, allowing them to be traded by foreign investors | Oil Voice

Rwanda: Nyaruguru District - Prime Minister Commends Private-Ownership of a Hydro Power Plant 
Rwanda's Prime Minister, Dr. Pierre Damien Habumuremyi, applauded private-ownership of Mazimeru hydro power plant in Muganza sector during his Thursday's visit to Nyaruguru district, Southern Rwanda | All Africa

SA’s renewable energy bidding programme attracts R70 billion in FDI 
In a speech presented by a senior official in South Africa’s department of energy (DoE) at African Utility Week on behalf of energy minister Dipuo Peters the DoE says that the country’s renewable energy independent power producer bidding programme has lived up to expectations | ESI-AFRICA

Indian Renewable Energy Development Agency Plans to Raise 3 Billion Rupees 
Mumbai – Indian Renewable Energy Development Agency Ltd. seeks to raise 3 billion rupees by selling local bonds, three people familiar with the matter said Monday | Wall Street Journal

Oando to Acquire 40% Stake in Qua Iboe Field 
Oando Exploration and Production Limited (OEPL), a subsidiary of Oando Plc has signed a farm-in agreement with Network Exploration and Production Nigeria Limited (NEPN) for the acquisition of 40per cent participating interest in the Qua Iboe field located in Oil Mining Lease (OML) 13 | Thisday

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