Monday, October 22, 2012

TOP NEWS PICK: OCTOBER 22, 2012

Developments in International Oil & Gas | Energy | Extractive Industries

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Brent steadies around $110 on Middle East tension 
(Reuters) - Brent crude oil steadied above $110 per barrel on Monday as fighting in Beirut and Gaza raised fears for the security of fuel supplies from the Middle East, helping stem a four-day decline in prices | Reuters 

Germany's Siemens to give up solar energy business 
BERLIN -- Siemens AG says it plans to give up its solar business and concentrate its renewable energy business on wind and hydroelectric power | Associated Press 

China buys Europe oil storage 
In the first major move by a Chinese state company into European oil storage, Sinopec is buying half of tank firm Vesta Terminals through a joint venture with Swiss-based trader Mercuria Energy | Equities.com 

Saudi crude sales to US seen robust 
Saudi Arabia appears to be keeping its pledge to ensure global markets are well supplied with oil, barely letting up in shipments to the US even after two of its biggest refining customers suffered crippling glitches | Equities.com 

Shell to develop Fram field in the UK North Sea 
Shell U.K Ltd ('Shell') announced today it will develop the Fram oil and gas field in the UK Central North Sea, following final approval from the Department of Energy and Climate Change | Oil Voice 

BP, Rosneft ‘close to deal’ 
BP is close to inking a deal with Rosneft which will see it trade its holding in joint venture TNK-BP for cash and shares in the state-owned Russian oil giant, a report claims | Upstream Online 

Bulgarian Renewable Energy Producers to Protest Grid Access Fee 
Bulgarian Renewable Energy producers are to stage a fresh protest against against the newly introduced fee for accessing the networks of the three power distributors operating in the country, CEZ, Energo-Pro and EVN | Sofia News Agency 

Statoil and Wintershall in $1.45bn asset deal 
Deal will see Wintershall take Statoil's operated stake in the Brage licence as well as shares in Gjoa and Vega | Upstream Online 

CNOOC-Exoma JV Completes 2012 Galilee Basin Drilling Program 
Australia's Exoma Energy announced Monday that the Galilee joint venture has completed its 2012 drilling program in the Galilee Basin, onshore central Queensland, Australia | Rigzone 

Natural gas fight could delay fuel's arrival to region, some fear
AUGUSTA -- The battle between two firms vying to bring a natural gas pipeline to the Kennebec Valley has entered a new and more contentious stage | Kennebec Journal 

Dana makes Egyptian gas discovery 
United Arab Emirates-based Dana Gas has made a new discovery on its West El Qantara concession in Egypt’s Nile Delta region | Upstream Online

Slowing Asia Growth Adds to Oil Market Uncertainty, IEA Says 
Slowing economic growth in Asia is adding to uncertainty in the oil market, according to the executive director of the International Energy Agency | Bloomberg

Azerbaijan increases Turkish gas supply 
Azerbaijan raised its gas supply from its Shah Deniz fields to Turkey more than 50% over the weekend following a request by Turkish pipeline operator Botas after sabotage halted gas flow from Iran on Friday | Upstream Online

AUDIO
Late Japanese summer hits Pertamina premiums; North Asian sulfur bunker prices stay low 
Platts markets editor Atsuko Kawasaki and Asian fuel oil editor Rajesh Nair, discuss low North Asian sulfur bunker prices, as well as Pertamina's decision to sell low sulfur waxy residue at lower premiums | Platts

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