Friday, May 18, 2012

TOP NEWS PICK : MAY 18, 2012

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Nigeria losing fifth of revenue to oil theft: report 
LAGOS (Reuters) - Nigeria is losing nearly a fifth of its revenues to oil thieves, Finance Minister Ngozi Okonjo-Iweala was quoted as saying in the pro-government daily This Day on Tuesday | Reuters

Chinese Renewable Energy Body: US Solar Ruling Unreasonable, Unfair 
BEIJING (Dow Jones)--The Chinese Renewable Energy Industries Association criticized the U.S Commerce Department Friday for a decision to impose antidumping duties on Chinese solar firms, which it described as "unreasonable" and "unfair." | Wall Street Journal

Kurdistan: KRG building new pipeline and strategic options
In the ongoing oil struggle between Iraq's central government and the semi-autonomous Kurdistan region, one of Baghdad's trump cards has been the control of export pipelines – but that could soon change | Iraq Oil Report

UK: The cost of energy bills soar by 140pc in eight years 
The average household's annual energy bill of £1,252 now accounts for 11pc of a couple's basic state pension of £11,175 a year, the study by price comparison website uSwitch.com found | Telegraph

Australian shale can supply global gas needs 
As the global demand for gas is seen to rise, especially from regions such as Asia, predictions are made about Australia’s ability to meet this demand | The Pipeline

Brent set for third weekly loss 
Brent crude held steady above $107 per barrel on Friday, but prices were headed for a third straight weekly drop as a worsening euro zone crisis and weak US economic data raised fears of a global slowdown that could dent oil demand | UpstreamOnline

Apple to use renewable energy to power data centre 
Apple Inc plans to power its main US data center entirely with renewable energy by the end of this year, taking steps to address longstanding environmental concerns about the rapid expansion of high-consuming computer server farms | TVNZ

Afren Strikes Oil at Ebok Well 
Afren plc announced that the Ebok North Fault Block exploration well, offshore south east Nigeria, has encountered 370 feet true vertical thickness (TVT) of net oil pay in excellent quality reservoir sands | Rigzone

218 illegal refineries, 151 storage tanks shut in Nigeria 
17 May 2011, Sweetcrude, Yenagoa - The Joint Task Force in the Niger Delta codenamed Operation Pulo Shield the task yesterday announced the destruction of 218 illegal refineries, 151 surface tanks and oil dumps around Oporoza in the Ecravos waterways of Delta State, Alakiri waterside and the adjoining creeks of Sombreiro river in Abonema, Rivers State | SweetCrude

Argentina: Banks poised to seize YPF stake 
A group of international banks is poised to take over shares in newly nationalised Argentine oil company YPF after a minority shareholder defaulted on a loan this week | Financial Times

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