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North Sea oil production 'could rise in short-term'
North Sea oil and gas production could confound expectations by rising significantly over the next few years - but may fall short of government hopes in the longer-term, a new study has claimed | The Telegraph
Sinopec’s Nigerian Oil Deal
China Petroleum & Chemical Corp. (NYSE:SNP), known as Sinopec, recently agreed to buy a 20 percent stake in a Nigerian oil field from Total, SA (NYSE:TOT) for $2.5 billion. The purchase is part of Sinopec’s ongoing plan to aggressively add to its overseas assets, while the deal for Total represents the continuation of its recent strategy to shift its asset mix with more frequent adjustments to its business portfolio | Market Daily News
Mexican Parties Agree to Break Pemex Refining Monopoly
Mexican President Enrique Pena Nieto and leaders of the nation’s three largest parties agreed to work toward allowing competition for some of Petroleos Mexicanos’s operations and revise mining royalties | Bloomberg
NNPC lists challenges to gas development in Nigeria
NIGERIAN National Petroleum Corporation (NNPC) has identified poor pricing arrangements, legacy of non-payment by major consumers, inadequate gas infrastructure, oligopolistic structure of incumbents and export bias, as some of the challenges militating against the growth of the country’s gas sub-sector | The Guardian
Shell Shifts Gas Business to Singapore on Asia Demand Growth
Royal Dutch Shell Plc (RDSA), Europe’s biggest oil producer, plans to move its natural-gas business to Singapore from The Hague in response to growing demand for liquefied natural gas in Asia | Businessweek
Oil price for Indian basket falls to USD 108.61/bbl
The international crude oil price for Indian Basket as computed/published today by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas came down to USD 108.61/barrel (bbl) on Dec. 04, 2012 as compared to USD 109.25/bbl on the last trading day of Dec. 03, 2012 | MyIris
Natural Gas Discovery Promises a Boon for Eni and Mozambique
LONDON — The Italian oil company Eni said Wednesday that it had made new natural gasdiscoveries in the waters off Mozambique, a find that would help consolidate Eni’s position as one of the leaders in the East Africa region | NewYorkTimes
Anadarko Petroleum sees U.S. onshore boom
HOUSTON, Dec. 5 (UPI) -- More than 100,000 barrels of oil equivalent per day have come from four key U.S. onshore developments, Anadarko Petroleum Corp. said | UPI
Libyan Minister of Oil Abdulbari al-Arusi on Thursday (November 29th) held a meeting with the local council in Benghazi to discuss the management of the region's oil resources and address political calls for federalism | AllAfrica
Saipem chief quits amid corruption probe
Saipem said Wednesday its chief executive quit and the chief operating officer of its construction division was suspended following a court notification of a corruption investigation at the company | Upstream Online
ConocoPhillips spins bit in Goldwyer shale
US major ConocoPhillips and Australian explorer New Standard Energy have begun drilling the second exploration well in a three-well drilling programme at the Goldwyer shale project in Western Australia | Upstream Online
TRANSACTIONS
Chevron plans $36.7 billion capital, exploration spending for 2013
The cost of the Gorgon LNG project offshore Western Australia has grown 40.5% to $52 billion, operator Chevron said Wednesday | Platts
Freeport-McMoRan to acquire oil, gas assets in $20 billion deal
Copper-mining giant Freeport-McMoRan will purchase two oil and gas companies, which could rescue a venture by McMoRan Exploration Co. to drill one of the deepest offshore oil wells on record | EINNews
Russia's Novatek nets $4 bln gas deal with Mosenergo
Novatek, Russia's second-largest natural gas producer, has reached a deal to deliver 27 billion cubic metres of gas, worth up to almost $4 billion, to Mosenergo in 2013-2015, the electricity generator said | Reuters
KNPC awards Amec $528m refinery contract
Kuwait National Petroleum Co (KNPC) has awarded engineering group Amec a $528m contract to manage the construction of a new refinery in Kuwait that will be the largest in the Middle East. Upon completion in 2018, the new multi-billion dollar oil refinery will increase Kuwait's refining capacity by 615,000 barrels per day (bpd) | Ameinfo
KBR wins Iraqi FEED contract
Turkish Petroleum Corporation (TPAO) has awarded engineering and construction company KBR a front-end engineering and design (FEED) contract for the Mansuriya full field development project in Diyala Province, Iraq | Upstream Online
ARTICLES
Flight of Fancy? British Airways to Purchase $500M of Biofuels
In 2010, British Airways announced a deal with U.S.-based Solena to construct a biofuel plant in East London by 2014. The plan was to produce 16 million gallons of jet fuel annually from 500,000 tons of waste that would otherwise be destined for landfills. The volumes would be sufficient to power all of its flights from London City Airport. The advantage of utilizing waste is that it would otherwise be converted into methane, which is over 20 times as effective a greenhouse gas as carbon dioxide | Forbes
Renewable Energy Beats Natural Gas: Supplies 46% of All New US Electricity
Almost half of all new electrical generating capacity added in the US this year is renewable energy - 46.22% | SustainableBusiness
Nod to Gas Exports in U.S. Study Seen Downplaying Consumer Cost
A U.S. Energy Department report that supports expanded exports of natural gas cheered drillers wanting to sell overseas while drawing warnings from opponents that it may have underestimated the potential costs to consumers | Businessweek
Canada’s Oil Sands CO2 Emissions Rise as Production Grew
Canada, the world’s seventh-largest emitter of greenhouse gases, increased carbon dioxide and nitrogen oxide emissions from oils-sands production last year | Bloomberg
DOE Study: LNG Exports Will Boost U.S. Economy
Big news in a just-released study conducted for the U.S. Energy Department, which finds that allowing U.S. liquid natural gas exports would help the economy – and increasingly so as LNG exports grow. NERA Economic Consulting analyzed 16 different export scenarios, incorporating different assumptions about U.S. natural gas supply and demand and different export levels | EnergyTomorrow
Middle East beginning to embrace solar energy
ABU DHABI, United Arab Emirates (AP) — Covering nearly 300 football fields in a remote patch of desert, the Shams 1 solar project carries off plenty of symbolic significance for the United Arab Emirates | AP
AUDIO
Clean tanker market stays resilient despite rocky 2012 demand
Platts' Singapore-based shipping team leader Pradeep Rajan, explains how the clean tanker segment has stayed strong despite the Asian tanker market suffering in 2012 | Platts
Vivian Krause: U.S. greens shut down Canadian oil
Heads up, Canada! Our one and only big energy customer, the United States, isn’t going to need Canadian oil any more. That’s the implication of the International Energy Agency’s latest predictions. The U.S. will be the world’s largest oil producer by 2020 and a net oil exporter by 2030. Some say this could happen a lot sooner | Financial Post
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