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Govt proposes asset management firm for NNPC subs
Rather than the outright privatisation of some units under the Nigerian National Petroleum Corporation, NNPC, the Federal Government has decided to set up an asset management company, as a holding company, for some of the corporation’s subsidiaries | SweetCrude
Oil Sands Industry in Canada Tied to Higher Carcinogen Level
OTTAWA — The development of Alberta’s oil sands has increased levels of cancer-causing compounds in surrounding lakes well beyond natural levels, Canadian researchers reported in a study released on Monday. And they said the contamination covered a wider area than had previously been believed | NYTimes
Argentina cuts oil export tax
Argentina unveiled a new system of export taxes on oil shipments on Monday that will cut levies as the government seeks to lure investment to revive stagnant production, according to reports | Upstream Online
Petrobras starts commercial production of Sapinhoá field in the Santos Basin pre-salt
Petrobras announces that as the platform Cidade de São Paulo comes into operation on January 5th it has started commercial production of Sapinhoá field in block BM-S-9 in the Santos Basin pre-salt. This field has started production ahead of schedule, since the startup date in Petrobras 2012-2016 Business Plan was set for January 13, 2013 | Oil Voice
LAGOS/GENEVA, Jan 7 (Reuters) - Nigerian state oil firm NNPC has obtained a $1.5 billion syndicated loan to help it pay debts to international fuel traders, a senior banking source with knowledge of the deal said on Monday | Reuters
N. African states eye major energy drive
TRIPOLI, Libya, Jan. 3 (UPI) -- Amid the political upheaval of the dictator-toppling uprisings across the Arab world over the last two years, North African states are driving to open their energy sectors to foreign investment and boost oil and natural gas production | UPI
Turkey and Abu Dhabi to develop Turkish coal field
With Turkish power demand having grown by an average of 8 per cent a year over the past decade, the announcement of new power plant projects is a relatively common occurrence. Announcements of 8,000MW of new plant at an estimated cost of up to $12bn, though, are less common | Financial Times
Iran oil revenues drop 45 percent in 9 months because of sanctions on nuclear program
TEHRAN, Iran — Iran’s revenues from vital oil and gas exports have dropped by 45 percent because of sanctions over its suspect nuclear program, a senior lawmaker said Monday, a clear admission that sanctions over Iran’s suspect nuclear program are having a severe impact | Washington Post
Grounded offshore oil rig towed to Alaska harbor
Shell’s Kulluk drilling rig has been towed to a harbor in Kiliuda Bay, off Alaska's Kokiak Island. The barge was towed after finally being freed from ground near Sitkalidak Island, an uninhabited island about 200 miles from Anchorage. The barge will remain in Kiliuda Bay for several days for damage inspection. Early reports say there are no signs of oil leaking from the vessel | Pennenergy
US crude oil supplies drop by 11.1 million barrels
Crude supplies dropped by 11.1 million barrels, or 3 percent, to 359.9 million barrels, which is 9.2 percent above year-ago levels, the Energy Department's Energy Information Administration said in its weekly report | SeattlePi
TRANSACTIONS
Sinopec Engineering Submits Listing Application for US$1.5 Bln HK IPO
Hong Kong - Sinopec Engineering (Group), an engineering unit of state-owned China Petrochemical Corp, has submitted a listing application to Hong Kong's stock exchange for a US$1.5 billion initial public offering, two people with direct knowledge of the matter told Dow Jones Newswires Tuesday | Rigzone
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