TOP NEWS PICK : MAY 9, 2011

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Oil up $3, above $112 after record rout last week

Oil rebounded on Monday, up over $3 helped by a weaker dollar, rising Asian equity markets and bargain hunting by traders and investors after Brent crude lost over $16 last week. | International Business Times

 Qatar oil min does not expect dramatic OPEC decision

(Reuters) - Qatar's oil minister said he does not expect OPEC to make a "dramatic" decision during the upcoming OPEC meeting in June, and that the market is still well supplied. | Reuters

Australia: LPG excise will lift fares, taxi industry warns THE taxi industry has joined an industry campaign to stop the government imposing excise on LPG as Labor prepares to introduce legislation to implement the move as early as Thursday. | Wall Street Journal

 India makes its mark in resources deals

INDIA is rapidly becoming more prominent in Australian resources deals, with the country attempting to power its emerging economy after long being overshadowed by a rising China. | Wall Street Journal

Boeing sees short term oil price, Mideast impact

Plane maker Boeing (BA.N) said on Sunday that high fuel prices and the social unrest in the Middle East may have an impact on the orders it receives from the region in the short term. The aircraft manufacturer, which has a backlog of 3,445 airplanes, said 345 of these have been ordered by airline customers. | Reuters

Oil's slide may be a mixed blessing

After all the angst over pricey oil and the threat it posed to the global economy, it is hard to see the recent slide as anything but a welcome reprieve. | Reuters

Fuel protesters target oil refinery

Fuel price protesters have staged a demonstration outside one of Britain's biggest oil refineries. | Pioneer

'Crude oil prices to rise by summer'

Iran's OPEC Governor Mohammad Ali Khatibi says global crude oil prices are expected to recover by the beginning of the summer season. | Press TV

Kulczyk confirmed as Nigerian stake buyer

Poland’s Kulczyk Oil, working with Nigerian partner companies, has been confirmed as the new owner of a 45% stake in a Nigerian oil block sold by supermajor Shell, France's Total and Italy’s Eni. | Upstream Online

Commodity hedge fund loses $400m in oil slide

Clive Capital, the world’s largest commodity hedge fund, has been left nursing losses of more than $400m as a result of the collapse in the price of oil last week. | Financial Times

Oil rises to near $100 on weaker US dollar

SINGAPORE - Oil prices rose to near $100 a barrel Monday in Asia, bouncing back from last week's plunge, as a weaker U.S. dollar made commodities less expensive for investors with other currencies. | Anchorage Daily News

Shell, Agip, Chevron order for 100km local pipelines 

Three international oil companies have placed orders for about 100 kilometres of pipelines in the SCC plant located in Abuja as part of effort to develop Nigerian content in the oil and gas industry. | Daily Independent