TOP NEWS PICK: DECEMBER 05, 2012

Developments in International Oil & Gas | Energy | Extractive Industries

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Nigeria set to lose $15bn Egina project investment 

INDICATIONS are that Nigeria may lose the $15 billion Egina project investment being promoted by Total Upstream Nigeria Limited, TUNL, owing to the inability of the management of the Nigeria National Petroleum Corporation, NNPC, to approve the investment plan | SweetCrude

ExxonMobil chief to get raise, higher bonus 

The chief executive officer of Exxon Mobil, the world's largest publicly traded oil company, will take home a higher salary next year and see his bonus increase 5% | Upstream Online

Africa's largest solar plant proposed

LONDON, Dec. 4 (UPI) -- A British firm says it plans to build a solar power plant in Africa that will provide electricity to more than 100,000 home and be the biggest on the continent | UPI

Oil falls on US budget, fuel demand 

Oil prices fell on Tuesday, as concerns about the US budget crisis and global fuel demand outweighed ongoing worries about instability in the Middle East | Upstream Online

Nigeria: Petrol sells for N250/litre in Delta 

Despite the presence of task forces set up by the Department of Petroleum Resources, DPR, to check the monopolistic tendencies of petroleum products marketers, who sell above the Federal Government official prices, marketers in the riverine communities, especially of Delta State have remained obdurate, as a litre of petrol currently sells for between N200 and N250 per litre | SweetCrude

New Zealand: Oil, gas explorer pulls out 

The hunt for oil and gas has been dealt a blow by the withdrawal of explorer Petrobras from deep water off the East Coast | EINNews

UK oil output seen rising in next few years -study 

LONDON, Dec 5 (Reuters) - Britain's North Sea oil output, long in decline, is likely to increase in the next few years, according to research published on Wednesday, reflecting the impact of rising investment, high prices and tax breaks | Reuters

Nigeria: Disputed Orient oil wells: Owners to be known in 6 months 

The Director-General, National Boundary Commission (NBC), Dr Mohammed Ahmed, has said that the rightful owners of the oil wells operated by Orient Petroleum would be determined in 6 months time | SweetCrude

Repsol sues Chevron in US court over

Petroleum Landman School: Who's a Petroleum Landman???

A petroleum landman coordinates field exploration activities, oversees the work of technical staff and supervises geological procedures necessary to identify exploration sites. The landman also assesses the cost of oil and gas wells and monitors production rates to improve exploration processes.

Skill Set and Tools

A top-performing petroleum landman generally has analytical dexterity, scientific acumen and complex problem-solving aptitude, according to O*NET OnLine. Skillful and effective petroleum landmen often use analytical or scientific software, such as Computer Modelling Group CMG STARS, and charting software, such as Microsoft Office Visio.

Degree Requirements and Compensation

A bachelor's degree in geology, engineering or a related discipline is usually necessary for a petroleum landman position. Employers may hire petroleum landmen with less education if they have practical experience. As of 2010, the average annual salary of a petroleum landman was $133,000, according to job resources website Indeed.

Read more: Petroleum Landman Job Description | eHow.com http://www.ehow.com/facts_6817914_petroleum-landman-job-description.html#ixzz2EA0odxY4

How Oil and Gas Companies Can find Candidates to Interview and Hire

This is a neat site on solving human capacity requirements; both for corporates and individuals

NIGERIAN CONTENT: Stimulating Local Capacity

By Ulari Maduekwe

Ulari recently represented the community at the following event and gives a summary on the key issues and remarks.

Nigerian Content Development Stakeholders Conference

Theme: Stimulating Local Capacity

Date: December 3^rd, 2012

Venue: Sheraton Hotel, Abuja.

Organisers: House of Representative, Committee on Local Content

Facilitators: Tandice- B Solutions Limited

KEY ISSUES

- Waiver grants set to last for three years. This will expire in March 2013. 

- Funding- Banks are not amenable to local companies. Interest on Bank facilities starts from 25%, while international operating companies can source facilities on interest rates starting from 3%. 

- How can the progress of the Nigerian Content development be measured?

The Definitive Guide to Fracking

By JUSTIN KUEPPER

The $6 trillion global energy industry has undergone a lot of changes over its long history, from the first successful oil tanker developed by Sweden in 1878 to the first mobile steel barges for offshore drilling developed by the Texas Company in the early 1930s. But, in the modern era, hydraulic fracturing (“fracking”) stands out as the single most important innovation [for more fracking news and analysis subscribe to our free newsletter].

Fracking: A Brief History

Hydraulic fracturing involves propagating the fractures in a rock layer using pressurized fluids in order to release oil and gas that isn’t economically viable to extract using traditional drilling techniques. While fracking was technically first used in 1947, modern fracking techniques like horizontal slickwater fracking weren’t commercially used until 1998 in the Barnett Shale.

The process works by pumping fracturing fluids – like slickwater, gel or foam – into a wellbore at a sufficient enough rate to fracture the rocks below. When these fractures occur,

TOP NEWS PICK: DECEMBER 04, 2012

Developments in International Oil & Gas | Energy | Extractive Industries

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Exploration & production grows in Africa with new discoveries 

Oil exploration and production activities have soared in Africa since the discoveries of oil in Oloibiri –Nigeria in 1956, Libya in 1959 and the first discovery in Angola in 1956 which became more operational after the massive find in offshore Cabinda in 1960’s | SweetCrude

BP vows to hike capital spend on high-margin plays 

British supermajor BP has put forward plans to ramp up capital expenditure in the coming years in a portfolio radically changed by its deal with Rosneft and post-Macondo sell-off programme | Upstream Online

Repsol files YPF arbitration complaint 

Spanish oil major Repsol filed a complaint against Argentina at the World Bank's international arbitration forum on Monday over the government's expropriation this year of Repsol's controlling stake in YPF, a report said | Upstream Online

Brent falls on US manufacturing 

Brent oil prices turned lower on Monday after data showed US manufacturing activity slowed to a three-year low, offsetting more optimistic figures from China | Upstream Online

Cyprus offers mediation between Lebanon, Israel to solve undersea oil, gas dispute 

BEIRUT — Cyprus has offered to mediate between Lebanon and Israel over a maritime border dispute that is delaying some oil and gas exploration in the Mediterranean, a Cypriot official said Monday | Washington Post

YPF pushes expansion despite litigation

BUENOS AIRES, Dec. 3 (UPI) -- Argentina's YPF energy company, nationalized earlier this year, is on an expansion drive despite an impending new compensation battle with former majority owner Repsol | UPI

Sasol to start design work on Louisiana GTL, ethane cracker plants 

Sasol will proceed with front-end engineering and design for an integrated gas-to-liquids plant and ethane cracker with downstream derivatives at the company’s site near Lake Charles, La | Oil & Gas Journal

Eni resumes exploration in

TOP NEWS PICK: DECEMBER 03, 2012

Developments in International Oil & Gas | Energy | Extractive Industries

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Russian Oil Output Hits Record 10.5 Million Barrels a Day 

Russia’s crude oil and condensate output climbed to a post-Soviet record of 10.503 million barrels a day in November, beating the high reached the previous month, according to the Energy Ministry’s CDU-TEK unit | Bloomberg

Indian oil firms fighting for foreign assets, focus on production 

NEW DELHI: Faced with soaring demand, stagnant output at home and a need to diversify from Iranian crude imports lost to Western sanctions, Indian oilBSE -0.72 % companies are hungry for deals like ONGC's Kashagan buy that promise supplies sooner rather than later | Economic Times

South Sudan could restart oil exports by year-end 

(Reuters) - South Sudan could restart oil exports through Sudan by the end of the year after successful talks between both countries on border security, a top Southern official said on Sunday | Reuters

Israel partners China in renewable energy technology 

Israel is set to work with China in the future to develop renewable energy technology, following talks at the 5th Eilat-Eilot Renewable Energy Conference & Exhibition held last week in Eilat, Israel | CBS

Iran Says Plans to Raise Crude Oil Production 

Iran's oil minister has said the country plans to increase its oil production capacity to up to 5.2 million barrels per day by early 2016 | ABCNews

Canada to Build Oil Pipeline to Serve Asia 

MONTREAL - - Canada is scrambling to build an expansive new oil pipeline network to reach new markets including Asia as its sole customer, the United States, hikes production, aiming to become the world's top exporter | Industry Week

GDF Suez closing in on Repsol LNG assets 

France’s GDF Suez is closing in on a deal to acquire Repsol’s liquefied natural gas unit, according to French media | Upstream Online

NEITI to recover N1.3tr from

China eyes Africa for Photovoltaic industry expansion

Photovoltaics, or PV for short, is a method of converting solar energy into electricity. China's industry has been suffering since late last year due to anti-dumping and anti-subsidy investigations by the US and European countries. So the country is looking to Africa for growth and cooperation.

FT Lex: UK's £110bn energy bill

The UK needs £110bn over the next decade to keep the country's lights on. Lex's Oliver Ralph and Vincent Boland discuss whether the government's energy bill outlining its plans to move away from fossil fuel generation is carrot enough for investors to come to build it. 

Related Articles:

http://www.ft.com/intl/cms/s/0/f91241b2-3a23-11e2-a00d-00144feabdc0.html

http://www.ft.com/intl/cms/s/3/b8a490dc-3a30-11e2-baac-00144feabdc0.html

NOCs: Emerging challenge to oil majors

PTT Exploration and Production of Thailand has just raised $3bn to fund its overseas expansion. Lex's Oliver Ralph and Vincent Boland discuss the growing challenge from emerging markets energy companies to the oil majors.

Related Articles:

http://www.ft.com/intl/cms/s/0/31fde55e-3aaf-11e2-b42a-00144feabdc0.html

http://blogs.ft.com/beyond-brics/2012/11/30/thai-market-comes-of-age-with-3bn...

Value for Money?: Transparency Initiatives in Host Countries

NEITI cites under-assessments and underpayments in its audit reports as responsible for losses since 2004 at N1.3trillion in the Nigerian Extractive Industries. How much impact does the Extractive Industry Transparency Initiative have in helping host countries to secure value for resource-worth ?

Edward Davey, UK Energy and Climate Change Secretary of State

Secretary of State, UK Department of Energy and Climate Change, Rt Hon Edward Davey keynotes the Chatham House Climate Change Conference 2012: Security, resilience and diplomacy

With Doha in perspective what are the Finance, Adaptation and new market mechanisms going forward?

Hungry National Oil Companies

Douglas B Glass, head of the International Energy Practice at Akin Gump, talks to Proactive Investors at The Oil Council World Assembly about the competition between the oil majors and the formerly moribund state-owned groups for a dwindling supply of assets.

Have IOCs got their hands full now with NOCs taking up the gauntlet in the search for reserves?

Bankers Petroleum Badwi: "Great Demand" Heavy Crude

Abby Badwi, CEO of Albania-focused Bankers Petroleum, talks to Proactive Investors at the Oil Council World Assembly. He says there is great demand for the company's heavy crude.

TOP NEWS PICK: NOVEMBER 30, 2012

Developments in International Oil & Gas | Energy | Extractive Industries

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UK sees net oil imports rising to 43% of its oil demand by 2020 

The UK will likely see its net oil imports rise to 43% of its oil demand by 2020, from around 30% currently, as output from the country's ageing North Sea fields continues to decline, the UK government said Thursday | Platts

Nigeria spends N679bn on fuel subsidy – PPPRA 

Executive Secretary of the Petroleum Products Pricing and Regulatory Agency, PPPRA, Reginald Stanley, has said the Nigerian government has spent N679.736 billion on fuel subsidy this year | SweetCrude

Japex plans LNG import terminal 

Japan Petroleum Exploration Company (Japex) plans to build a liquefied natural gas import terminal at Soma port, north of Tokyo, and a pipeline to connect to its existing network to meet higher demand for the fuel | Upstream Online

Hyundai and IHC face off over Subsea 7 work 

South Korea’s Hyundai Heavy Industries is understood to have locked horns with Dutch yard operator and equipment manufacturer IHC Merwede for a newbuild contract with UK-based Subsea 7, covering the construction of up to two offshore construction vessels valued at more than $800 million | Upstream Online

Asian buyers of Iran oil to secure US sanctions waiver extension 

SEOUL/NEW DELHI, Nov 30 (Reuters) - Asia's top buyers of Iranian crude are likely to secure U.S. approval to continue imports from the Islamic Republic without incurring sanctions, after cutting volumes sharply in the second half of the year, according to government and trade sources | Reuters

Nigeria 2012 Budget: Petroleum Ministry Implements 93% 

30 November 2012, Sweetcrude, Abuja -The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke says about 93% of the 2012 budget appropriated to the Ministry has been utilized based on the amount released to it so far | SweetCrude

Chevron hits back over

Iceland: Geothermal Energy

In Iceland, geothermal power is being used for almost everything -- from heating homes to supplying therapeutic spas year round. Scientists and engineers from around the world are participating in a course at the United Nations University (UNU) to learn how to use geothermal energy in their own countries from leading experts in Iceland.

http://www.un.org/webcast/pdfs/unia1365.pdf

TOP NEWS PICK: NOVEMBER 29, 2012

Developments in International Oil & Gas | Energy | Extractive Industries

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Why Total’s sale of Nigerian assets to Sinopec is surprising

There are five clear reasons why many were surprised by the announcement by French oil giant, Total, on Monday November 18, 2012, that it has sold its 20 percent stake in Nigeria’s Oil Mining Lease, OML 138, to China Petrochemical Corporation, Sinopec, as part of an asset-disposal programme, according to Africa Oil and Gas | SweetCrude

Argentina more than doubles price of gas produced by YPF at new wells

Argentina will allow the price of natural gas produced by state-run YPF at new wells to more than double and will do so for other suppliers as it seeks to revive production | Platts

PGNiG plans at least 10 new shale wells in 2013 

State-controlled Polish gas monopoly PGNiG plans to drill at least 10 shale gas wells in 2013, it said, part of a government drive to step up exploration of unconventional resources | Reuters

Oil prices drop amid US budget talks, inventory data

(MENAFN - AFP) Oil prices fell on Wednesday as investors focused on key budget talks in the United States, the world's biggest consumer of energy, and reacted to news of an unexpected drop in US crude inventories | EINNews

Jack-up players eye ONGC race 

Several contractors are preparing to submit bids next month in an Oil & Natural Gas Corporation (ONGC) tender for the charter by the Indian company of a number of jack-up drilling rigs | Upstream Online

Bayelsa governor tasks oil companies on

Qatar - How Much Harm Will the Climate Change Conference Do to the Environment?

Delegates meeting in Doha face many major issues: First of all they have to make sure that the Kyoto treaty isn't simply lost when it runs out in December. While working against the clock they are also painfully aware that the world's largest emitters, the United States and China are still not bound to any agreement at all. In turn Japan, Russia and Canada warn that they will not sign any further treaty unless all major polluters come onboard. A tall order for some 20 000 delegates who have travelled to Doha, each with their own agenda and issues they want discussed. And while they are meeting right in the middle of the desert, they are doing exactly what they are trying to prevent: producing CO2. We explore the environmental cost of an environmental summit.

Peak Oil Postponed? - Kjell Aleklett

Professor Kjell Aleklett speaks of the Peak Oil phenomenon at a seminar arranged by think tank Global Challenge in Stockholm. Eva Alfredsson opens the "Peak Oil Postponed?" seminar.

Very interesting and informative. What with "shale" and deep water discoveries "going viral" around the globe has the peak oil argument been postponed?

A 'Must watch!!'; Let us discuss 

PwC's Leppard:"Robust" deal flow in Oil & Gas sector

Neil Leppard, oil and gas transactions director at PwC, talks to Proactive Investors at the Oil Council World Assembly. He reveals deal flow has shown no signs of abating even given the current difficult economic backdrop, which has dogged other sectors. "There is almost a pipeline of deals that are needing to happen," he tells host Jeremy Naylor.

To what factors can we attribute this trend?