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Nigeria set to lose $15bn Egina project investment
INDICATIONS are that Nigeria may lose the $15 billion Egina project investment being promoted by Total Upstream Nigeria Limited, TUNL, owing to the inability of the management of the Nigeria National Petroleum Corporation, NNPC, to approve the investment plan | SweetCrude
ExxonMobil chief to get raise, higher bonus
The chief executive officer of Exxon Mobil, the world's largest publicly traded oil company, will take home a higher salary next year and see his bonus increase 5% | Upstream Online
Africa's largest solar plant proposed
LONDON, Dec. 4 (UPI) -- A British firm says it plans to build a solar power plant in Africa that will provide electricity to more than 100,000 home and be the biggest on the continent | UPI
Oil falls on US budget, fuel demand
Oil prices fell on Tuesday, as concerns about the US budget crisis and global fuel demand outweighed ongoing worries about instability in the Middle East | Upstream Online
Nigeria: Petrol sells for N250/litre in Delta
Despite the presence of task forces set up by the Department of Petroleum Resources, DPR, to check the monopolistic tendencies of petroleum products marketers, who sell above the Federal Government official prices, marketers in the riverine communities, especially of Delta State have remained obdurate, as a litre of petrol currently sells for between N200 and N250 per litre | SweetCrude
New Zealand: Oil, gas explorer pulls out
The hunt for oil and gas has been dealt a blow by the withdrawal of explorer Petrobras from deep water off the East Coast | EINNews
UK oil output seen rising in next few years -study
LONDON, Dec 5 (Reuters) - Britain's North Sea oil output, long in decline, is likely to increase in the next few years, according to research published on Wednesday, reflecting the impact of rising investment, high prices and tax breaks | Reuters
Nigeria: Disputed Orient oil wells: Owners to be known in 6 months
The Director-General, National Boundary Commission (NBC), Dr Mohammed Ahmed, has said that the rightful owners of the oil wells operated by Orient Petroleum would be determined in 6 months time | SweetCrude
Repsol filed a US lawsuit to block Chevron Corp's deal with Argentina's YPF, ramping up the Spanish oil company's legal response to the loss of its assets in Argentina, according to a report | Upstream Online
Japan starts to break the oil-index tie on its LNG purchases
While it has yet to be seen whether Japan’s increased efforts to pursue shifting its pricing basis for its LNG imports to other benchmarks will actually reduce its import costs, it is still certain that 2012 will be recorded as a landmark year for the country began to publicly pursue an alternative to the long-held oil index basis for LNG purchases | Platts
Subsidy Scam: Nigeria recovers N29bn from suspects
Nigeria’s Federal Government says it has recovered N29 billion out of the N232 billion oil subsidy scam | SweetCrude
EU utilities need new business model to gain customer trust
Trust in energy utilities across Europe has degraded and reached an all-time low due to intermittent renewables that undermine grid stability and higher energy bills, according to GlobalData | FierceSmartGrid
No alternative to deregulation – Jonathan
The Nigerian government, Monday, said that there was no alternative to the deregulation of the economy if Nigeria must achieve the Vision 20:2020 goal | SweetCrude
TRANSACTIONS
Neptune nabs BP framework agreement
Australian offshore service provider Neptune Marine Services has been handed a framework agreement with BP in the UK | Upstream Online
Progress CEO hopes for Petronas US$5.2bil deal decision this month(update)
CALGARY, Alberta: Progress Energy Resources Corp's chief executive said on Tuesday that he hopes for a decision from Ottawa on the C$5.2 billion ($5.2 billion) takeover of his company by Malaysia's Petronas this year | TheStarOnline
Petronas and Progress promise bigger LNG plant if Ottawa approves $6B takeover
With Ottawa rejecting Petronas’s $6-billion takeover bid for Progress in October, and still to rule on a revised takeover offer, the two companies said Tuesday they are moving ahead on the pre-engineering phase of a $9-billion to $11-billion liquefied natural gas export facility on Lelu Island, building on joint ventures struck more than a year ago | Financial Post
Marathon plans $5.2 billion 2013 spend
Marathon Oil is budgeting $5.2 billion in 2013 for exploration, investment and other capital spending, the company said Tuesday | Upstream Online
QGC's Curtis Island gas project hired 1500 new workers
IN JUST six months, a sprawling gas project on Curtis Island off Gladstone hired more than 1500 workers, an average of eight recruits each day | WhitsundayTimes
Blue Energy makes £150m green energy investment pledge
The firm behind Africa's largest solar power project hopes to treble the amount it invests in green energy developments to £150m next year | MenMedia
AUDIO
Evaluating ONGC's $5 billion gamble in Kazakhstan
Mriganka Jaipuiyar and Daniel Colover discuss ONGC's $5 billion swoop of ConocoPhillips' stake in the Kashagan oil field, and how winter demand affected partials trading and strong trading of grades compared to their official selling prices | Platts
ARTICLES
Can Synthetic Fuels Help U.S. Eliminate Need For Crude Oil?
Researchers at Princeton University have published a report where they claim that The United States could eliminate the need for crude oil imports by using synthetic fuels. According to them, US will be able to switch to synthetic fuel from oil in 30-40 years. However the implementation of this project will cost the country more than $1 trillion | AlbanyTribune
U.S. Energy Revolution Transforms Climate Debate
The last few years have seen the beginnings of an energy revolution in the U.S. The coming of shale gas and now shale oil has transformed not just its energy outlook, but also the climate change debate | EnergyTribune
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