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Brent crude rose above $108 a barrel on Friday on a brighter outlook for China's economy, the world's second largest oil consumer, but worries about the impact of a possible US fiscal crisis capped price gains | ArabianBusiness
BP Invited to Bid on UAE Oil Concession
BP, who owns a 9.5 percent stake in the Abu Dhabi National Oil Company (ADCO) concession which is set to be renewed in 2014, was surprisingly left out of the pre-qualification process, meaning that it could not bid to renew its interest in the 1.4 million barrel a day play | OilPrice
Chevron hoping to break the deadlock at Block B
US supermajor Chevron is working hard to break the deadlock on its $4.3 billion Block B gas project in Vietnam, where the company is trying to agree a gas price with state-owned Petro-Vietnam | Upstream Online
US slaps Iran with new sanctions over nuclear program
(CNN) -- The United States slapped new sanctions on Iran on Thursday, targeting a handful of companies and individuals it says are providing materials and technology to Tehran's nuclear program | CNN
Pemex sues Siemens and SK Holdings
State-owned Mexican oil company Pemex sued Siemens and a South Korean company for $1.5 billion over a bribery scheme that has dogged the German conglomerate for years | Upstream Online
IPP to be built in Onitsha
Efforts are currently at an advanced stage for the construction of an Independent Power Plant, IPP, in the commercial city of Onitsha, aimed at addressing the perennial power shortage and outages in the city | SweetCrude
Heavy Canadian Crude Rebounds as Refinery Plans to Restart Unit
Canadian heavy oil on the spot market strengthened from an all-time low discount to the U.S. benchmark price as BP Plc (BP/) was said to expect to restart a crude unit tomorrow at its refinery in Whiting, Indiana | Bloomberg
Sudan: Funds sought for Block 14 rank exploration
Sirocco Energy Ltd., Perth, formerly Agri Energy Ltd., is attempting to raise funds for its share of the cost to explore the remote 100,000 sq km Block 14 in northwestern Sudan | Oil & Gas Journal
One of the two jack-up rigs being built by Dalian Shipbuilding Industry Corporation Offshore (DSIC Offshore) is ready for its debut drilling campaign in Saudi Arabia | Upstream Online
Gran Tierra sets out 2013 spending plan
South America-focused company Gran Tierra Energy is planning on spending C$363 million (US$369.1 million) on its exploration and production development operations next year in Colombia , Brazil , Peru and Argentina | Upstream Online
Rig Woes Plague Conoco-Karoon Drilling Program Offshore WA
ConocoPhillips and Karoon Gas will see the project timeline of their five-well exploration program in the Greater Poseidon area, offshore Western Australia, pushed back due to a spate of blowout preventer problems on their contracted semisubmersible rig – Transocean Legend (mid-water semisub) – a spokesperson representing Karoon Gas told Rigzone in an interview Friday | Rigzone
TRANSACTIONS
Africa Oil closes final tranche of $232.5 million private placement
Africa Oil Corp. (TSX VENTURE:AOI)(OMX:AOI) announce that it has closed the second and final tranche of its private placement, previously announced on November 28, 2012 | OilVoice
Helix strikes $610m deal for oil and gas unit
Helix Energy Solutions Group said Thursday it had agreed to sell its oil and gas subsidiary to Talos Production in a deal worth up to $700 million | Upstream Online
ExxonMobil hands Technip Balder contract
US supemarjor ExxonMobil has awarded France’s Technip a contract on its Balder Phase III development in the North Sea, off Norway | Upstream Online
Nigeria signs N165bn power plant contract with Chinese consortium
The Nigerian government has signed a contract agreement for the implementation of the N162.99 billion Zungeru hydro electric power project with a Chinese consortium | SweetCrude
FMC Technologies receives $40 million subsea controls order from PT Rajawali Swiber Cakrawala
HOUSTON, Dec. 13, 2012 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) announced today that it has signed an agreement with PT Rajawali Swiber Cakrawala (PTRSC) for the manufacture and supply of subsea controls for the South Belut field development. The order has an estimated value of $40 million in revenue | YourSubseaNews
ARTICLES
How Unconventional Oil And Gas Is Supercharging The U.S. Economy
It’s an exciting time to be in the energy industry in America. The impact of unconventional oil and gas development on the U.S. economy is considerable, with potentially hundreds of billions of dollars in investments, millions of new jobs, and a renaissance of American ingenuity and innovation | EINNews
Oil In 2013: New Era For Global Markets As U.S. Marches Toward Energy Independence
After a decade of tight energy markets and rising commodity prices, the global economy is entering a new era marked by rising oil production at high prices. Yet, the prospects of U.S. energy independence, on the back of the “shale revolution,” a move toward cleaner energy, and slowing growth across the emerging world suggest longer-term oil prices should trend downwards | Forbes
Measuring the Climate Impact of Natural Gas
No one knows just how much methane—a potent greenhouse gas—leaks from natural gas wells and pipelines. A new natural-gas sensing system from Picarro, a Santa Clara, California-based company, could help | TechnologyReview
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