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Colombia awards 49 blocks in auction
Colombia has awarded oil exploration rights for 49 blocks to companies including state-run Ecopetrol and Shell, the government said on Wednesday, and expects them to invest $2.6 billion over four years | Upstream Online
Nigerian Govt owes NNPC N1.3tr on subsidy
THE Nigerian National Petroleum Corporation, NNPC, says it is being owed over N1.3 trillion ($8.2 billion) by the federal government in respect of fuel import subsidies | SweetCrude
Brent nears $111 on uptick in China economy
Brent crude hovered near $111 as the Chinese economy showed further signs of recovery, bolstering the outlook for oil demand, though gains were capped as a ceasefire in the Gaza Strip eased concerns over supply | Upstream Online
Santos output forecast to rise in 2013
Australian independent Santos expects output to total between 53 million and 57 million barrels of oil equivalent during 2013 | Upstream Online
Horizon Oil Seeks Partner for PNG Gas Assets
International energy companies seeking a foothold in Papua New Guinea’s nascent natural gas export industry are being courted with a new opportunity | WallStreetJournal
Hong Kong: ECO spuds Thai well
Hong Kong and China Gas Company subsidiary ECO Environmental Investments has started drilling an infill well on the Na Sanun East Central oilfield in Thailand | Upstream Online
Bharat keen to move Arrowsmith forward
India’s Bharat Petroleum has expressed its eagerness to progress plans to develop the Arrowsmith project in Western Australia’s onshore Perth basin, according to project operator and joint venture partner Norwest Energy | Upstream Online
Crude Oil Futures Advance After China Manufacturing Data
Crude oil prices advanced in Asia Thursday after a private survey showed that China’s manufacturing activity expanded for the first time in more than a year in November | International Business Times
US supermajor, ExxonMobil, has declared force majeure on its Qua Iboe crude oil exports from Nigeria due to outages caused by an oil spill on November 9, which has spread about 20 miles down the coastline in Ibeno, south east of Nigeria | SweetCrude
LIUNA Calls on President to Approve Keystone XL Pipeline
WASHINGTON, Nov. 21, 2012 /PRNewswire-USNewswire/ -- LIUNA – the Laborers' International Union of North America – today called on President Obama to approve the Keystone XL Pipeline and put Americans back to work | PRNewswire
Analysis of US EIA data: Gulf Coast leads U.S. product stock draw on Jones Act waiver
U.S. refined product stocks fell sharply in the reporting week that ended November 16, U.S. Energy Information Administration (EIA) data showed Wednesday | Platts
TRANSACTIONS
Antrim announces development approval of the Cormorant East field in UK Northern North Sea
Antrim today announced that a Field Development Plan ("FDP") has been approved for the Cormorant East Field in UK Northern North Sea Block 211/22a Contender Area (the "Contender Block", Antrim interest 8.4%) | Oil Voice
Shoreline buys into Wattenberg oil
Canada’s Shoreline Energy has acquired royalty interests in more than 150 tracts of land in the Wattenberg light oil project in Colorado | Upstream Online
ARTICLES
Scottish independence bets on green energy
Scotland's bid for independence bets on meeting ambitious renewable energy goals as much as on the dwindling riches of North Sea oil and gas. An estimated 90 per cent of Britain's oil and gas is in Scottish territory, but output is dwindling fast and with it any prospect that it alone could make Scotland viable as an independent economy. Last year production dropped 18 per cent, its sharpest decline since peaking more than a decade ago | ClimateSpectator
The Future of Oil, Coal, and Gas Under Obama
Oil, gas, coal, and electricity companies spent more than $115 million on the presidential campaign, more than any race since at least 1990, according to the Center for Responsive Politics. Eighty percent of the candidate donations went to Republicans. Yet President Obama’s reelection may wind up benefiting some parts of the industry. Obama “is now going for a full-throated endorsement of oil and natural gas production in the United States, which is 180 degrees opposite from where he started,” says Jack Gerard, president of the American Petroleum Institute (API), a trade association that represents the breadth of the industry. “The real question will be: Will the president’s actions match his words?” | Bloomberg
The German Nuclear Exit: The legalities of a nuclear shutdown (Part 5)
The Bulletin of Atomic Scientists (BAS) has released its latest issue, The German nuclear exit, featuring five comprehensive editorials on the complexities of the German nuclear phase-out. The fifth offering in this six-part installment comes from University of Kassel legal experts Alexander Rossnagel and Anja Hentschel, and examines the legalities of a nuclear shutdown.
Part 3: The Politics of Phase-Out
The legalities of a nuclear shutdown
By Alexander Rossnagel and Anja Hentschel
In July 2002, Germany amended its Atomic Energy Act so no new nuclear power plants could be built and existing power plants would continue running only for a limited time. In 2009, however, a coalition led by Chancellor Angela Merkel took control of the German government and reversed the country’s nuclear phase-out policy, extending nuclear plant operating lives and announcing that risks associated with nuclear energy were insignificant. Three months later, just days after the nuclear disaster at the Fukushima Daiichi Nuclear Power Station in Japan, the German government abruptly reversed course again, closing eight older nuclear power plants and eventually ordering the nine remaining plants to cease operations by 2022, at the latest. Three out of the four operators of German nuclear power plants have since taken legal action, seeking compensation for profits supposedly lost as a result of the nuclear policy change. But due to a number of factors—including the German constitution, which places a duty on the government to protect citizens, and the nuclear operators’ participation in the original 2002 agreement to phase out nuclear power—most legal observers believe these legal challenges to Germany’s nuclear exit are destined to fail. The German nuclear exit includes financial compromises that allow nuclear operators to recoup investments in their nuclear power plants, and the legal protection these compromises provide to the government may be the part of the German initiative that is of most interest to other countries considering nuclear exits | PennEnergy
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