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BP announces sale of non-operated interest in Sean offshore gas field
BP announced today that, as part of its decision to market its stakes in non-operated North Sea assets, it has agreed to sell its interest in the Sean gas field in the UK North Sea to SSE plc for $288 million in cash | PennEnergy
Shell awards contracts to four Nigerian firms
To boost the Local Content Initiative of the Nigerian government, Shell Petroleum Development Company Limited, has awarded Maturation Studies Services contracts to four Nigerian companies | SweetCrude
Brent above $108 on hopes of US budget crisis resolution
Brent futures held steady above $108 per barrel on Wednesday, tracking a rally in most other risk assets on expectations a budget crisis in the US will be resolved, saving the world's top oil consumer from slipping into recession | Upstream Online
NPDC targets 250,000bpd output by 2015
The Nigerian Petroleum Development Company, NPDC – a subsidiary of the Nigerian National Petroleum Corporation, NNPC says it expects to grow output to 250,000 per day by 2015, an ambitious target in an environment frought with security, funding and operating challenges | SweetCrude
Alliance adds to Russian resource base
Sweden-listed Alliance Oil has won an auction for an exploration and production licence in the Timan-Pechora region of northern Russia | Upstream Online
Japan to Extend Cuts in Iran Oil Imports in 2013, JX Chief Says
Japan will import fewer than 160,000 barrels a day of oil from Iran next year to avoid sanctions aimed at the Middle Eastern country’s nuclear program, the head of Japan’s oil industry group said | Bloomberg
China, the world’s biggest carbon emitter, will pay 8.6 billion yuan ($1.4 billion) in subsidies for electricity generated from renewable power this year | Bloomberg
California Oil Regulators Release Draft of Fracking Rules
Under pressure from state lawmakers and environmentalists, Gov. Jerry Brown’s administration on Tuesday released draft regulations forhydraulic fracturing, or “fracking,” the controversial drilling process driving a national oil and gas boom | EnergyTribune
Coal industry in last-minute push against renewable energy goal
Coal miners have launched a last-minute lobbying bid against the extension of the Renewable Energy Target (RET), releasing a study challenging the policy’s effectiveness | SidneyMoringHerald
Mexico oil output hits near two-year high
Mexico produced an average of 2.577 million barrels per day of crude oil in November, the highest level since January 2011 and up 1.4% from October, state oil company Pemex said on Tuesday | Upstream Online
Sudan-South Sudan oil talks break without much progress; 2 sides plan to meet in January
ADDIS ABABA, Ethiopia – Officials have failed to make progress in talks that would see South Sudan resume its oil exports through Sudan | FoxNews
TRANSACTIONS
Talisman completes $1.5B North Sea deal with Sinopec
Talisman Energy Inc. (Talisman) (TSX:TLM) (NYSE:TLM) announced the completion of its joint venture transaction with Addax Petroleum UK Limited (APUK), an indirect wholly-owned subsidiary of China Petrochemical Corporation (Sinopec Group) following receipt of government and regulatory approval | PennEnergy
Scana wins $4.1m contract
Sweden’s Scana Industrier has been awarded a contract to deliver riser material for systems to be used in North Sea and Australian operations | Upstream Online
Rosneft, Saras eye processing-marketing JV
Rosneft and Saras SPA have entered an agreement declaring their intention to create a 50-50 joint venture for the processing of crude oil and sale of oil products | Oil & Gas Journal
Dana gets go ahead on $1.6B oil and gas development
The UK Department of Energy and Climate Change has approved the Western Isles project which will develop two discovered oil fields called Harris and Barra in the Northern North Sea, 160km east of the Shetlands and 12km west of the Tern field | PennEnergy
European Commission Finances Renewable Energy Projects
The Commission has awarded over €1.2 billion to 23 innovative renewable energy technology (RES) projects | MarineLink
Matrix adds $56m to order book
Perth-based Matrix Composites & Engineering has won six new contracts worth a total A$53.5 million (US$56.3 million) for the supply of drilling riser buoyancy and installation buoyancy to both new and longstanding customers | Upstream Online
ConocoPhillips plans sale of Algerian unit to Pertamina for $1.75B
ConocoPhillips (NYSE: COP) has entered into an agreement to sell its Algerian business unit for a total of $1.75 billion plus customary adjustments. The proposed sale is subject to co-venturer preemption rights and Algerian government approval | PennEnergy
ARTICLES
Russia and China: too big for a natural gas deal to succeed
At first sight, Gazprom’s final investment in October to develop the giant Chayanda gas field in east Siberia paves the way to move negotiations forward on gas supplies to China via the so-called eastern route | Platts
Arbitration Involving States and State Entities under the ICC Rules of Arbitration
On 14 December 2012, Professor Pieter Bekker, holder of the Chair in International Law at the CEPMLP, attended the presentation of a report entitled "Arbitration Involving States and State Entities under the ICC Rules of Arbitration" prepared by the International Chamber of Commerce (ICC) Commission on Arbitration Task Force on Arbitration Involving States or State Entities, which took place in London | CEPMLP Gateway
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