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Middle East:EU, Greenland spar over arctic oil

The European Union is overreacting to environmental issues associated with oil and gas reserves emerging from the arctic, Greenland officials said. The European Union is putting pressure on Greenland over exploration of the arctic, noting mass protests were on the horizon without ...

Americas: US lifts deepwater drilling moratorium, sets new rules

p>The US deepwater drilling moratorium, which was originally set to expire November 30, will be lifted immediately, Interior Secretary Ken Salazar said Tuesday. "We are open for business," Salazar said during a conference call with reporters. But Salazar and Michael Bromwich, ...

Asia: Indonesia Pertamina to import up to 4 mil barrels term gasoil in Nov

p>Indonesian state-owned oil and gas company Pertamina is expected to import up to 4 million barrels of gasoil in November, less than the estimated 5 million barrels for October, a source familiar with the matter said Thursday. The company's November volumes are expected to be ...

Europe: EU stops short of offshore drilling ban but tightens licenses

p>Oil companies will have to meet "key EU requirements" for new drilling licenses but Europe will not push forward with a ban on offshore drilling, the European Commission confirmed Wednesday. Energy Commissioner Gunther Oettinger presented the EC's draft proposals for strengthen...

Americas:Chile strikes gas: Bets big for larger gas find

A new natural gas discovery in Chile's extreme south raised prospects of a bigger find on the Tierra del Fuego island in the Magallanes region, state-run oil and gas company Empresa Nacional del Petroleo S.A. (ENAP) announced. The gas find was made in the Arenal exploration block ...

Europe:Germany steps in to South Stream project

Europe s largest economy Germany said it will take part in the Russian-led South Stream pipeline that aims to transport Russian gas to Europe. According to reports Wintershall, the oil and gas subsidiary of Germany's BASF, is interested in the pipeline and may take a stake of up ...

Americas: US lawmakers urge Salazar to fight challenges to Wyoming coal leases

p>Thirty-six members of the US Congress from coal mining states are urging Interior Secretary Ken Salazar to defend the agency's coal-leasing program against lawsuits filed recently by environmental groups seeking more stringent reviews of the air quality and climate change ...

Asia: Bangladesh allows Cairn to sell gas to private firms at market price

p>Bangladesh has finally agreed to UK-based Cairn Energy's proposal to sell gas from its Magnama and Hatia structures in the Bay of Bengal at market prices to private buyers in the country, government officials said Wednesday. "We have agreed to the Cairn proposal, and a ...

ONGC starts shale gas exploration

India s oil and gas giant, ONGC said it begun exploring for shale gas in West Bengal. According to the state run Oil and Natural Gas Corporation, it started drilling the first shale gas well in West Bengal on Tuesday. ONGC said it had notified the regulator Directorate General of ...

Americas: Shale gas revolution could lead to higher global gas prices: study

p>Uncertainty over the future development of shale natural gas plays is limiting investment in both conventional and unconventional gas projects in Western Europe and the US and setting the stage for possible higher fuel costs in the future, according to a report released by ...

Asia: WRAP: South Korea wins takeover battle for Dana Petroleum

p>State-owned Korea National Oil Corp won its $2.9 billion hostile bid for Britain's Dana Petroleum Friday after the independent conceded defeat as the offer edged closer to a compulsory takeover. The move paves the way for resource-hungry South Korea to take control of Dana's ...

Asia: BASF to establish world-scale production of water treatment and paper chemicals in Nanjing, China

BASF has decided to establish a wholly-owned world-scale production base for water treatment and paper chemicals in Nanjing, China, with the construction of a 40,000 t/a quaternized cationic monomers plant and a 20,000 t/a cationic polyacrylamides plant. The two BASF plants, ...

Asia: Pertamina to buy Japan Inpex stake in 2 Indonesia oil, gas blocks

p>Indonesia's state-owned oil and gas company Pertamina plans to buy two oil and gas blocks from Japan's Inpex in a bid to boost its production, industry sources said Thursday. "Both parties are still in talks," a BPMigas official said. "The deal is expected to be signed in ...

Europe: UK's Centrica doubles stake in North Sea Statfjord field

p>Centrica, Britain's biggest gas supplier, has agreed to buy Shell's interests in the Statfjord field in the North Sea for NOK1.37 billion ($225 million), almost doubling its share of the oil and gas field, the two companies said Friday. The Statfjord field straddles the border ...

Europe: Cairn reports oil, gas shows with second well offshore Greenland

p>UK-based Cairn Energy has found some oil and gas shows with its second exploration well in the Sigguk block offshore Greenland, the company said Tuesday. The Alpha-1S1 well has so far reached a depth of 4,358 meters, and has found "gas shows in silty and volcanic sections over ...

Europe: Russia to adopt Arctic development strategy this year: official

p>Russia is expecting to adopt by the end of 2010 a development strategy for the Arctic, which is widely believed to contain vast hydrocarbons reserves, a ministerial official said Thursday. "We expect to adopt it this year," Alexander Pilyasov, an official with the country's ...

Oil outlook to be less dependent on US economy

Alexander Montano, managing director of the Corporate Finance Group with California-based C. K. Cooper & Co., puts a lot of faith in technology when it comes to making oil and gas plays pay. Alex sees major opportunities for new technology in old oil basins and suggests some ...

Iran halts gasoline imports

Iran stopped placing orders for gasoline from external markets last month, the country's oil minister announced. Iranian Oil Minister Masoud Mir Kazemi said that with domestic refineries churning out more gasoline, his country no longer needed to place orders with overseas ...

Information overload plagues oil upstream players

Upstream players in oil industry are burdened with information overload and majority of them now feel the need for a simple and more unified computing environment which is vital for their job performance. This was revealed in the Microsoft and Accenture Upstream Oil & Gas ...

Europe: Total confirms output growth target despite 2011 dip

p>French oil major Total confirmed Wednesday its target of growing oil and gas production by a market-leading 2%/year to 2014 despite a temporary slowdown next year before its next wave of projects come onstream. According to figures in a mid-year strategy update, Total said it ...
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