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Nigeria Risks Ratings Downgrade If Its Oil Savings Drop
Nigeria’s credit ratings may be cut if the country raises its proposed oil benchmark price and fails to increase its savings, President Goodluck Jonathan said | Bloomberg
Oil prices rise little as Gaza fighting continues
NEW YORK (AP) - Oil futures prices rose slightly in electronic trading Sunday night with the market apparently unaffected by fighting between Israel and Hamas | EINNEWS
IEA says world oil markets remain well supplied
World oil markets are well supplied despite the loss of nearly 1 million barrels a day of crude from Iran following sanctions by the United States and European Union, the head of the International Energy Agency (IEA) told Reuters on Monday | Reuters
Nigerian minister considers pouring oil on troubled waters
Nigeria is considering watering down proposed changes to the fiscal regime for international oil companies operating offshore after warnings that they will drive away investment and cost hundreds of thousands of jobs | Financial Times
Key Petroleum sells Tanzanian assets, turns full focus on Australian acreage
Key Petroleum has completed its divestment of non-core assets to focus on its Canning and Perth basin acreage after selling its Tanzanian assets to Bounty Oil & Gas | PIAustralia
Saudi Arabian Oil Exports Rise on Refinery Cuts, JODI Data Show
Saudi Arabia’s crude oil exports rose in September to 7.28 million barrels a day as local refineries cut processing by 14.6 percent, according to the Joint Organizations Data Initiative | Bloomberg
Speakers at the KPMG oil & gas breakfast seminar held in Lagos were unanimous in their submission that Nigeria’s oil and gas sector is currently missing investments opportunities worth between $200billion and $400billion | BusinessDay
World Bank chief makes climate change plea
Jim Yong Kim, World Bank president, has made an urgent plea for action to address the “devastating” risks of climate change as the development body releases a stark assessment of the potential impact of rising global temperatures | Financial Times
Shell reopens damaged pipeline in Nigeria
THE Royal Dutch Shell says it has reopened a pipeline in the oil-rich southern delta and has lifted a month-old production warning on its supplies to Nigeria’s liquefied natural gas plant | SweetCrude
Drillers Begin Reusing 'Frack Water'
Companies are racing to find ways to recycle the water used in hydraulic fracturing, chasing an emerging market that could be worth billions of dollars | WallStreetJournal
ExxonMobil Nigeria spill spreads along coast
An oil spill at an ExxonMobil facility offshore from the Niger Delta has spread at least 32 kilometres from its source, coating waters used by fishermen in a film of sludge | Upstream Online
Subsea 7 revenues rise on high offshore activity
UK-based Subsea 7 has posted a 30% rise in gross profit with strong growth seen in most of its operated regions during the third quarter, ending 30 September 2012 | Upstream Online
North raises alarm over Nigeria’s oil revenue
TROUBLE may be looming over the sharing of Nigeria’s oil revenue as feelers from the northern part of the country indicate that governors of the states in the region believe they are not getting a fair share from the nation’s commonwealth | SweetCrude
Capital Oil shuts down operations
THE embattled Capital Oil and Gas Limited says it has shutdown operations in compliance with a court order to that effect | SweetCrude
Crowning glory for Santos
Australian independent Santos said it has hit 61 metres of net gas pay at its Crown-1 exploration well in the Browse basin off Western Australia | Upstream Online
TRANSACTIONS
APLNG drawing on $US8.5 billion
The Australia Pacific liquefied natural gas (APLNG) joint venture has begun drawing on its $US8.5 billion ($A8.25 billion) funding facility for its massive LNG project in Queensland | APLNG on Monday said all conditions had been met for the facility which, the joint venture says, is the largest financing facility ever secured in Australia | MSNFinance
MEO cashes up for Indonesian well test
MEO Australia has raised A$10 million (US$10.4 million) via a private placement to fund the production testing costs of the Gurame-1XST1 off Indonesia | Upstream Online
BP confirms winning bids for Nova Scotia Deepwater exploration blocks
BP was today notified that it was the successful bidder for four deepwater exploration blocks offshore Nova Scotia, Canada | Oil Voice
ARTICLES
Oil & Gas Afren –a unique African approach
While the African oil and gas sector is still dominated by international majors, independents are now claiming bigger stakes both upsteam and downstream. Perhaps the best example of an independent making it big in Africa is Afren | Equities
Oil & Gas -Ghana and Uganda – the quick and the slow
Two of Africa's newest oil powers should share the economic benefits of hydrocarbon production but the contrasting approaches of their respective governments may yield differing outcomes for the two countries | Equities
BP settlement will help fund safety research
While the $4.5 billion settlement announced between the US and BP is getting all the attention, a smaller number deserves notice. Part of the fines and penalties BP will pay over five years for its negligence in the 2010 blowout and spill at its Macondo well in the Gulf of Mexico will go to establish a program designed in part to make such tragedies less frequent | The Barrel
The World Bank's Shocking, Cautionary Tale on Climate Change
Like the Ghost of Christmas Future, the World Bank has just provided us with a frightening glimpse into our world-to-be if, unlike Scrooge, we fail to change our ways. The year is 2100. Governments have failed to heed the increasingly urgent warnings 100 years back to drastically reduce CO2 emissions and global temperatures have risen to over 4° C. And this is what the world has come to look like: Many coastal cities are inundated with sea water. Devastating, killer super-heat waves occur every summer in many regions of the world. Growing numbers of people are malnourished as fisheries collapse and agriculture in tropical and other regions suffers under prolonged droughts, extreme heat stress, torrential rain and the incursion of salt water in coastal aquifers. Freshwater is increasingly scarce in important regions, record numbers of people are getting ill from life-threatening vector-borne diseases such as malaria and dengue, forests are disappearing taking wildlife along with them, and entire islands have been evacuated. Coral reefs? Arctic ice? All long gone, and unless you are well over fifty in 2100 you won't even remember them. | Huffington Post
Shell celebrates 40 years of scenarios
Forty years ago, in 1972, work began on what many people regard as the first Shell Scenarios document, published the following year, though the roots of this work lie even further in the past. Since then, scenario planning has been at the heart of Shell's business, developing senior leadership understanding of critical factors in the business environment and the possible directions which economic, geopolitical and social systems could take, decades into the future | Oil Voice
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