Developments in International Oil & Gas | Energy | Extractive Industries
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Azerbaijan may build gas processing complex in US
The State Oil Company of Azerbaijan may build a gas processing complex in the United States, SOCAR President Rovnag Abdullayev said | Oil & Gas Eurasia
Oil falls as global economic worries resurface
The price of oil plunged 4 percent Wednesday as traders shifted their focus back to the struggles of the global economy | BusinessWeek
Rosneft, LUKOIL may sell oil directly to PKN Orlen
Rosneft and LUKOIL are holding talks with Poland’s PKN Orlen, a major oil refiner and petrol retailer in Europe, on direct supplies of 10 million tonnes a year | Oil & Gas Eurasia
Nigeria Senate approves N250bn NDDC budget for 2012
November 2012, Sweetcrude, ABUJA –BARELY 53 days to the end of the year, the Senate has approved for the Niger Delta Development Commission, NDDC, a budget sum of N250,857,925,434.00 as 2012 budget | SweetCrudeReports
India and ASEAN agree to explore cooperation in Renewable Energy
The first ASEAN India Ministerial Meeting on cooperation in Renewable Energy was held in the capital on November 8th 2012 | Steel Guru
Ukrainian Prime Minister Nikolay Azarov said his country started preliminary natural gas deliveries to European consumers this month | Oil & Gas Eurasia
Obama Win Concerns Natural Gas Producers
Barack Obama has vanquished Mitt Romney to secure another four years as the US president and decisions that had been put off until after the election now have to be made | Forbes
Heritage Oil announces completion of acquisition in Nigeria
Acquisition of OML 30 (as defined below) in Nigeria has been successfully completed OML 30 is one of the largest onshore licences in Nigeria | Oil Voice
Shale oil impacting global oil demand – OPEC
THE Organisation of the Petroleum Exporting Countries, OPEC, has admitted that technology for extracting oil and gas from shale has significantly impacted the global supply picture | SweetCrude
Nigeria Senate summons NNPC boss over NPDC $500m revenue
FOR failure to disclose revenue accruing to one of its subsidiaries, Nigerian Petroleum Development Company, NPDC, Senate, has summoned the Group Managing Director, Nigeria National Petro-leum Corporation, NNPC, Mr. Andrew Yakubu, to appear before it | SweetCrudeReports
Nigeria Presidency slams politicization of Ribadu probe report
THE controversy trailing the report of the Petroleum Revenue Special Task Force, PRSTF, headed by former Chairman, Economic and Financial Crimes Commission, EFCC, Mallam Nuhu Ribadu took a new turn, Wednesday, as the presidency said the report was badly presented | SweetCrudeReport
Shale oil impacting global oil demand – OPEC
THE Organisation of the Petroleum Exporting Countries, OPEC, has admitted that technology for extracting oil and gas from shale has significantly impacted the global supply picture | SweetCrude
Tokyo Gas led consortium considering $5bn natural gas pipeline in Japan
Tokyo Gas, Japan Petroleum Exploration and Nippon Steel & Sumikin Engineering are considering building a $5bn natural gas pipeline from Russia to Japan in order to meet the growing demand of fuel | Energy Business Review
EU starts subsidy probe of Chinese solar panels
The European Union announced on Thursday the start of an investigation into Chinesemanufacturers of photovoltaic solar panels | China Daily
TRANSACTIONS
BP to pay $255m for 2006 Prudhoe spill
Oil major BP has been ordered to pay $255 million to Alaska for oil production shortfalls related to the 2006 pipeline leaks and a resulting shutdown of the Prudhoe Bay oilfield, the state’s Department of Law said on Thursday | Upstream Online
Lincoln Renewable gets solar power deal
The firm signs a deal to provide power to Southern California Edison from its planned stations | Press Enterprise
Nigeria signs MOU on two power plants with Chinese firms
THE Nigerian government has signed a Memorandum of Understanding, MOU, with two Chinese firms for the execution of two hydro power plants in the Mambilla Plateau in Taraba State and Zungeru in Niger State | SweetCrude
ARTICLES
Ethanol Industry Ready for RFS Fight
With no change in the White House and few changes in Congress, the Ethanol industry is preparing for another battle of the Renewable Fuel Standard following the election. Bob Dinneen, with the Renewable Fuels Association, says the outcome of the election is generally favorable for renewable fuels. He said the Obama administration has been supportive of ethanol and the renewable fuel standard. Yet he is expecting a strong push by opponents to dismantle the RFS, “We are anticipating a rather robust fight as the oil industry and the livestock industry have made it their cause to change the RFS in a meaningful way.” | H.A.T.
Energy players must find common ground
Costa Rica has an energy problem. Anyone who has ever paid an electric bill or sat in the dark for hours would agree. The country used to produce excess electricity for export to neighboring countries, which generated revenue for the Costa Rican Electricity Institute (ICE). ICE’s power-generation model seemed sustainable, as it relied mostly on free water, wind and heat below the Earth’s surface | Tico Times
Russia tightens bearhug on oil and gas
Meeting foreign experts at his Moscow residence last month, Russian president Vladimir Putin tried to distance the Kremlin from Rosneft's multibillion-dollar takeover of TNK-BP. Mr Putin had "mixed feelings", he said, about a move that went against the "trend" of reducing state involvement in the economy. He had agreed largely in order to help extricate BP from a conflict with its oligarch partners that often involved "fighting with their bare hands" | MoneyControl
The big talking points from the Energy White Paper
There has been a lot of focus on figures which show that one quarter of consumer bills pay for the infrastructure that is used for just 40 hours a year to cope with peak demand. But here’s another number from the Energy White Paper: 30 per cent of the revenue from the wholesale market comes from just 30 hours of critical peaks a year. In other words, nearly one third of the revenue of the major generators comes from firing up every plant they can find for a little more than a day | RenewEconomy
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