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Thursday, Mar 11th

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Oil sector may need USD3.08trn investments

Oil sector may need USD3.08trn investments

Report. Prices could stay in the range of $70 to $80 a barrel for the next decade, says Opec study.  Oil prices could stay in the range of $70 (Dh257) to $80 a barrel for the next 10 years and expand to...

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Anadarko Tags Up to USD5.6B for 2010 Capex

Anadarko Tags Up to USD5.6B for 2010 Capex

Texas. Anadarko announced its 2010 capital program, 2010 guidance and the highlights of today's Anadarko Invest...

BP to Sell Its Castrol Lube Blending Plant in Toronto

BP to Sell Its Castrol Lube Blending Plant in Toronto

Toronto. Wakefield Canada Inc. announced last week that they have signed an agreement with BP Lubricants USA Inc....

Yanukovych to discuss Ukraine Russia gas issues on Moscow visit

Yanukovych to discuss Ukraine Russia gas issues on Moscow visit

Moscow. Ukrainian President Viktor Yanukovych said on Tuesday he intended to discuss gas issues with the Russia...

AMERICAS

North America

ExxonMobil Tags USD28B for 2010 Investment Profile

Texas. ExxonMobil delivered industry-leading results in 2009 during a volatile and challenging industr...

Chevron Deploys a Second Ultra-Deepwater Drillship

San Ramon. Chevron U.S.A. Inc., a wholly owned subsidiary of Chevron Corporation (NYSE: CVX), today anno...

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Central America

Centrica Joins LNG Trend in Trinidad and Tobago

London. Centrica, through its subsidiary Centrica Resources (Armada) Limited (CRAL), has signed an ag...

Norwood Resources had indication of oil in Nicaragua

Managua . Norwood Resources Ltd. announces that on February 15, 2010, the Company completed testing o...

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South America

Houston American Energy's Stake in Colombia May Pay Off

Houston. Houston American Energy Corp., a small energy company focused on Colombia, may soon reap big...

Petrobras clarification regarding the BM-S-9

Petrobras clarification regarding the BM-S-9

Rio de Janeiro. Petrobras wishes to clarify the news published today in the Brazilian Press, titled “ P...

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EUROPE

British Islands

Petrofac, Lundin to combine North Sea oil, gas assets

United Kingdom - Oil and gas facilities service provider Petrofac PLC Thursday said it plans to demer...

Tullow shares rise on BP bid rumours

United Kingdom - Shares in London-based explorer Tullow Oil jumped 3 percent on rumours that oil majo...

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Western Europe

OEG Offshore, TPS Team Up in AU's Northern Territory

Aberdeen. Oil services group OEG Offshore has expanded into Australia's Northern Territory through it...

Gazprom's Italian partner proposes South Stream-Nabucco merger

Moscow. I taly's Eni SpA, which is Gazprom 's partner in the Kremlin-backed South Stream gas pipeline projec...

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Central Europe

Scaroni: Europe needs to push gas infrastructure spending

Italy - Europe should promote spending on infrastructure to deliver natural gas to consumers from new...

EU court: no escape from cleaning-up duties for oil firms in Sicily

Italy - A group of oil companies will have to pay up for the clean up of coastal waters in southern S...

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ASIA

Middle East

Azerbaijan approves INPEX Chirag oil project

Azerbaijan - INPEX Corp said its Chirag oil project in the Caspian Sea has been approved by Azerbaija...

UAE's spending highest despite low oil revenues

Dubai. The UAE boosted public spending to its highest-ever level of Dh289 billion in 2009 despite a s...

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Far East

China's Sinopec Group still looking to expand abroad

China - China 's Sinopec Group, parent of Sinopec Corp, is still looking to expand abroad, Zhou Yuan, a...

Sinopec, ExxonMobil, Aramco may build refinery in Fujian

Beijing. Sinopec, Asia's largest oil refiner, is considering joining hands with U.S. oil giant ExxonMo...

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Southeast Asia

J Ray snaps up Dai Hung subsea gig

Hanoi. J Ray McDermott has won a deal for the subsea tie-in of a new wellhead platform to the existin...

Transocean drillship begins work in India

Transocean drillship begins work in India

India. Transocean today announced that the newbuild ultra-deep-water drillship Dhirubhai Deepwater KG...

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AFRICA

Northern Africa

Algeria rejects spot pricing for gas contracts

Algeria - Algeria may let some clients reduce the amount of gas they buy but is unlikely to follow Eu...

Israel Corporation to Invest USD1 Billion to Augment Power Generation Capacity Up to 1,200 Megawatts

Bangalore. Israel Corporation Limited (TLV:ILCO) (Tel Aviv, Israel), a subsidiary of the Ofer Holding...

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East Africa

Oil giants target East Africa as next frontier

Uganda - East Africa has become a promising new frontier for oil exploration and major multinationals...

ExxonMobil in talks to enter Tanzania's Statoil block

Tanzania - ExxonMobil Corp. is in advanced talks to buy into Statoil ASA's block in Tanzania, people fa...

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West Africa

Shell shuts down two gas plants in Nigeria

Lagos. Shell said Thursday it had closed down two gas plants feeding Nigeria's power stations so that ...

CNOOC, Total to Divvy Up Ugandan Oil Assets

London. China 's Cnooc Ltd. and French oil major Total SA are each expected to acquire a third of Tullow O...

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Reports and Analysis

Economic Analisis

Wall St sinks on oil's drop, recovery concerns

New York. US stocks slid on Wednesday, halting a four-day winning streak, as falling oil prices hit ene...

Shell & Big Oil's Exploration Challenge

Analysis. These days, you have to corral an army of engineers in the desert to build an enormous fact...

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Reports

OPEC may face Iraq challenge sooner than expected

Report. The consensus among analysts is that it would take around 5 years for Iraq to boost output by b...

Oil price slips under USD82

London. Oil prices slipped under 82 dollars on Thursday as investors took profits on gains made follo...

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Energy Analisis

China forces IEA to boost oil demand forecast

Report. Higher-than-expected demand from China and other Asian countries has forced the International E...

Major Offshore Project Start-Ups in 2010

Analysis. As we look at the year ahead, OPEC is predicting a world crude demand of at least 85.1 MMb/d....

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OCEANIA

Australasia

Moreton bay In Full Recovery After Oil Spill

Sydney. One year after Queensland’s largest environmental clean-up, Moreton Bay has suffered no lasti...

New Zealand's offshore Reinga Basin thick with oil prospects

New Zealand - GNS Science says that seismic and satellite data show that the Reinga Basin, off the no...

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Melanesia

ExxonMobil denies PNG tax waiver

Papua New Guinea - ExxonMobil has strongly denied reports that it will not pay income tax on earnings f...

Total plans USD 2bn Mahakam spend

Indonesia. French giant Total 's Indonesian unit is set to spend $2 billion on the Mahakam Block, in Ea...

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