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Nigeria: Jonathan renews call for fuel subsidy removal
President Goodluck Jonathan has renewed the call for the removal of fuel subsidy saying this is the only way to encourage private investment in domestic refining of petroleum products | SweetCrude
BP Will Plead Guilty and Pay Over $4 Billion
HOUSTON — BP, the British oil company, said on Thursday that it had agreed to pay $4.5 billion in fines and other penalties and to plead guilty to 14 criminal charges related to the rig explosion two years ago that killed 11 people and caused a giant oil spill in the Gulf of Mexico | NewYorkTimes
Google’s Investment in Renewable Energy Approaches $1 Billion
Google announced a $75 million equity stake in an Iowa wind farm on Thursday, bringing the company’s total investment in renewable energy to “more than $990 million.” | Mashable
Mining groups turn to bonds for funding
With the equity market firmly closed and banking loans hard to come by, mining companies are turning to the bond market in droves, with issuance set to hit an all-time high of more than $100bn | Financial Times
FHN to boost Nigerian Content, targets 50,000b/d
One of Nigeria’s leading indigenous oil firm, First Hydrocarbon Nigeria Limited, FHN, has announced an increase in the oil reserves in the two fields, Ogini and Isoko, it was currently exploring in the Niger Delta, and estimated production target at 50,000 barrels per day in 2013 | SweetCrude
Australia: Beach hits more Bauer oil as reserves rise
Australia’s Beach Energy has hit more oil at the Bauer oilfield, in South Australia, as partner Drillsearch Energy also announces a 22% increase in the field’s reserves | Upstream Online
THE United States has asked for information from the Nigerian goverment on how it has been managing the Excess Crude Account | SweetCrude
UK court freezes Ubah, company’s asset worldwide
A London High Court of Justice, Queen’s Bench Division, has placed a worldwide injunction, freezing the assets of Mr. Ifeanyi Ubah and his company, Capital Oil and Gas Industries Limited | SweetCrude
BP faces possible bar by US government
Hidden deep in BP’s statement on its plea agreement is a line that could have far-reaching implications for the company’s operations in the US, one of its main heartlands | Financial Times
Presidency blames BPE for cancelled Manitoba power contract
THE Nigerian government has blamed one of its parastatals, the Bureau of Public Enterprise, BPE, for the infractions that led to the revocation of the the management contract awarded to Canadian firm, Manitoba Hydro International, for the Transmission Company of Nigeria, TCN | SweetCrude
Govt will not dump Ribadu Report – Okupe
After picking holes in the report of the Nuhu Ribadu led committee on petroleum revenue, the Senior Special Assistant to the President on Public Affairs, Dr Doyin Okupe has made a volte face claiming that the Federal Government has no intention of dumping the Nuhu Ribadu report as being speculated in a section of the media | SweetCrude
TRANSACTIONS
Cameron and Schlumberger form subsea joint venture
Cameron and Schlumberger today announced the creation of OneSubsea™, a joint venture to manufacture and develop products, systems and services for the subsea oil and gas market | YourSubseaNews
AUDIO
Variable Buzzard field production dismays traders
Joel Hanley, Platts associate editorial director for EMEA crude oil and dirty products, and Olivier Lejeune, EMEA oil editor, discuss the recent production problems at the UK's largest oil field, Buzzard, which have had a large impact on Brent futures and North Sea physical crude prices | Platts
ARTICLES
New Lease of Life for Brass LNG as Banigo Becomes King
Ejiofor Alike writes that Ebitimi Banigo’s ascension to the throne as the paramount ruler of Okpoama Kingdom in Bayelsa State, will no doubt boost the signing of the Final Investment Decision (FID) for the Brass Liquefied Natural Gas (LNG) project. As colourful as the rainbow, the inauguration ceremony of former boardroom guru and banker of note, Ebitimi E. Banigo, as paramount ruler of the Okpoama Kingdom in Bayelsa State, will for long remain a topic of discussion on the lips of not only those who made it to the venue, but also by those who watched it on the television. Installed as OKPO XXl and the Amanyanabo of Okpoama Kingdom, one of the host communities of the multi-billion dollar Brass LNG project, Banigo’s coming at this auspicious time in the life of the project is not only a boost, but equally one that could usher in a new lease of life for the people of the Kingdom. With him at the occasion was another key figure to a successful execution of the project, a former Governor of old Rivers State and frontline leader and the Paramount Ruler of another host community of the project, Twon Brass, Amanyanabo Alfred Diete-Spiff | Thisday
Why Shell Is Making a Big Bet on Natural Gas
With natural gas trading near a one-year high, Royal Dutch Shell, one of the world’s largest integrated oil and gas companies, is making a big bet on the future of the cleanest of all fossil fuels | RoyalDutchShellPLC.com
Senate energy panel members open to carbon plan
A top Democrat and Republican on energy matters in the Senate left the door open to compromise on a potential carbon tax, but a top Republican House energy leader seemed less receptive during a Nov. 15 seminar in Washington, D.C. | EnergyBiz
IEA Oil Forecast Unrealistically High; Misses Diminishing Returns
The International Energy Agency (IEA) provides unrealistically high oil forecasts in its new 2012 World Energy Outlook (WEO). It claims, among other things, that the United States will become the world’s largest oil producer by 2020, and will become a net oil exporter by 2030 | TheOilDrum
The Math Does Not Lie: Factoring the future of the U.S. electric power industry
What will the U.S. electric power industry look like in the future? Discussions with senior electric power company executives suggest a lot has changed over the last four years that is challenging the conventional wisdom about where the industry may be heading | Deloitte
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