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Nigeria to raise Usan crude exports
IGERIA, Africa’s largest oil producer, plans to ship four 950,000 barrel cargoes of Usan crude exports for January 2013, one more than it will ship in December 2012, according to a loading programme obtained by Bloomberg | SweetCrude
Europe’s Shale Boom Lies in Sahara as Algeria Woos Exxon
While environmental regulation and disappointing drilling tests have held back the development of shale gas reserves in Europe, Algeria is using tax breaks to encourage exploration. Pipelines under the Mediterranean to Spain and Italy already link Africa’s largest gas exporter into Europe’s grid | Bloomberg
Oil price falls as truce continues to hold between Israel and Hamas in Gaza Strip
BANGKOK — The price of oil fell Monday as a truce between Israel and the militant group Hamas that stopped fighting in the Gaza Strip appeared to hold despite a confrontation late last week | Washington Post
Jonathan assures Nigerians stable power supply from June 2013
President Goodluck Jonathan has assured Nigerians of stable supply electricity in major cities by the end of second quarters of next year | SweetCrude
Pemex makes onshore discovery
Mexican state oil company Pemex has made a light oil discovery in the country’s onshore Southeast basin | Upstream Online
NEITI ready with 2007-2010 solid minerals Audit
The first solid minerals audit in Nigeria has been concluded and will be released next month, Executive Secretary of Nigeria Extractive Industries Transparency Initiative, NEITI, Zainab S. Ahmed has said | SweetCrude
Big oil companies have been knocking on Beach Energy's BPT.AU -0.70% door as it ramps up preparation work for an oil exploration campaign in Tanzania | WallStreetJournal
Shell, ENI, others react to alleged questionable practices
Reactions from major oil firms operating in Nigeria over a report from a government-appointed panel alleging questionable practices in Africa’s biggest oil-and-gas industry | SweetCrude
Australian Gold Explorer Gets Chinese Investment
China’s appetite for gold remains healthy, which is good news for junior prospectors of the precious metal in Australia that are chasing funding | WallStreetJournal
Creating jobs now a condition for winning oil contracts in Nigeria
The Nigeria Content Development and Monitoring Board, NCDMB and the Petroleum Technology Association of Nigeria, PETAN, have signed a Memorandum of Understanding, MoU, that will make creating employment for young and qualified graduates part of the conditions for winning oil and gas contracts | SweetCrude
Australia: Climate Commission says alternative energies under utilised
Australia's Climate Commission has released its first major report on renewable energy and it concludes Australia is doing well but could do so much more | ABC
Anambra govt plans massive solid minerals exploitation
The Anambra state government will soon embark on massive exploitation of her abundant solid mineral resources, in order to continue to grow the state’s economy through viable revenue yielding ventures | SweetCrude
TRANSACTIONS
Caza Oil & Gas Announces Execution of $12,000,000 Loan Agreement and Standby Equity Distribution Agreement
Caza Oil & Gas, Inc. ("Caza" or the "Company") CA:CAZ -9.62% (aim:CAZA) is pleased to announce today that it has entered into a GBP 6 million Standby Equity Distribution Agreement ("SEDA") and a US$12 million SEDA-backed Loan Agreement with YA Global Master SPV Ltd., an investment fund managed by Yorkville Advisors Global, LP ("Yorkville"). These facilities will provide Caza flexibility for future capital funding and meeting the costs of continued drilling of the Bone Spring play in New Mexico | MarketWatch
ARTICLES
UK to Shift Focus from Renewable Energy to Natural Gas
The UK government has finally released its long overdue energy policy, and it seems that Chancellor George Osborne won | Oil Price
South Korean arbitrage redraws landscape of Dated Brent market
The unanticipated and rapid emergence of a major arbitrage route to export crude from Europe to South Korea has transformed the North Sea market over the last year, boosting the value of the key Dated Brent benchmark and increasing market volatility at times, traders said November 21 (see chart:Dated Brent (mean $/barrel): Sep 15, 2011 - Nov 20, 2012) | Platts
U.S. to help meet Japan's gas needs
Last May was a tumultuous time for Yuji Kakimi, General Manager of the Fuels Department at Chubu Electric Power Co. (now Senior Managing Executive Officer) | Asahi
How the myth of fossil fuel abundance actually impedes progress on climate change
The great fear among those working to address climate change is that the seemingly vast resources of fossil fuels waiting to be burned will send the world hurtling toward certain catastrophe. By invoking fossil fuel abundance, climate activists believe that their argument for a rapid transition to alternative energy is made more persuasive. But, it is poor strategy to reinforce the myth of fossil fuel abundance when doing so actually makes many people less open to such an argument. And, as it turns out, the abundance argument is also contrary to the available data, logic and prudent risk management principles | Energy Bulletin
The Carbon Cost of Coal Trains
The debate is heating up over the transport of coal from mines in Wyoming and Colorado to West Coast ports, where the coal will be shipped to Asian markets. Combining the vast appetite for coal in Asia with the vast stores of underground carbon in the US will accelerate the already rapid rise in atmospheric carbon. However, business friendly policies have made it almost impossible to do anything about this impending disaster. In the US, interstate transportation is a federal matter, and local authorities have no voice in policy decisions. On the international front, free trade agreements make it very difficult to restrict private buying and selling of anything. As a result, there are few tools available to prevent what is sure to be an international environmental catastrophe | Energy Collective
Towards harnessing Nigeria’s vast solid mineral potentials
Statistics show that Nigeria is endowed with more than 33 commercially viable solid minerals which could be exploited, while more than 40 million tonnes of talc deposits have been identified in Niger, Osun, Kogi, Ogun and Kaduna states | SweetCrude
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