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TransGlobe Energy boosts 2010 capital budget by 30 pct

Nov 25 - Canadian oil and gas company TransGlobe Energy Corp (TGL.TO) (TGA.O) said it plans to raise its 2010 capital budget by 30 percent to $46.1 million. Transglobe, which has properties in the Middle East and North Africa, also said it plans to participate in 20 firm wells ...

Indonesia's Bumi eyes marketing deal for Berau Coal

JAKARTA, Dec 3 - Indonesian coal miner PT Bumi Resources Tbk (BUMI.JK) said on Thursday it is in talks to be the exclusive marketing agent for coal produced by unlisted coal miner Berau Coal. Bumi, which is controlled by the politically connected Bakrie group, is discussing the ...

EQT sees gas production up 20 pct in 2010

Dec 3 - EQT Corp (EQT.N) expects 2010 produced natural gas sales to climb 20 percent above its estimate for the current year, and said it plans to drill 40 horizontal wells in the Marcellus shale. The integrated energy company, which focuses on natural gas production in the ...

Oil falls over 2 percent on U.S. stock build

NEW YORK - U.S. crude futures fell over 2 percent to settle below $77 a barrel on Wednesday, extending losses after U.S. government inventory data showed larger-than-expected builds in crude and gasoline stocks. Crude oil inventories rose 2.1 million barrels last week, a weekly ...

Europe Gasoline-U.S. stocks push prices lower

LONDON, Dec 2 - European gasoline prices fell on Wednesday, tracking a 3 percent drop in U.S. RBOB futures after government data showed stockpiles of the motor fuel rose by more than expected in the United States last week. The U.S. Energy Information Administration reported on ...

Total Indonesia proposes $2 bln spending in 2010

JAKARTA, Dec 2 - The Indonesian unit of Total (TOTF.PA) has proposed spending $2 billion in 2010 to upgrade its Mahakam block in East Kalimantan, an official at the country's energy watchdog, BPMIGAS, said on Wednesday. "BPMIGAS has not approved it yet, because BPMIGAS will study ...

Thai PTT's sixth gas plant to come onstream early 2010

BANGKOK, Dec 2 - PTT PCL PTT.BK, Thailand's top energy firm, said on Wednesday its sixth gas separation plant would start operations in early 2010 as planned after a court ruling in favour of the group. The plant, which will produce liquefied petroleum gas, would help the country ...

Oil leak has minimal impact on BP's Alaska output

NEW YORK/ANCHORAGE, Alaska - leak from a pipeline near Alaska's giant Prudhoe Bay oil field had only a minor impact on North Slope oil production, an effect that was rapidly being erased, according to BP Plc, operator of the field, on Monday. "We had minimal production impact ...

Europe Gasoline-Prices up, naphtha crack positive on swaps

LONDON, Dec 1 - European gasoline prices rose on Tuesday, tracking gains in crude oil prices, while the spot export opportunities to the United States and demand from elsewhere have remained thin. "There are no opportunities for the arbitrage... it is limited to term flows," one ...

Husky Energy finds big gas field off China

CALGARY, Alberta, Dec 9 - Husky Energy Inc (HSE.TO), Canada's No. 3 integrated oil company, said on Tuesday it has tapped into another big gas field off China's coast similar to its massive Liwan discovery in 2006, one of the biggest-ever gas finds off the country's shore. The ...

Turkey's Gama plans energy unit IPO of min 30-35 pct

ISTANBUL, Dec 7 - Turkish power producer Gama Energy is eyeing an initial public offering of at least 30-35 percent, while Gama Holding's industry unit is in partnership talks, the holding's head of strategic planning said. Gama Holding is also planning $4 billion worth of energy ...

EIA to offer first oil demand forecast for 2011

WASHINGTON - The U.S. government's energy agency may be the first to revise up its oil demand growth forecast for 2010 this week, but it is the group's first view of 2011 fundamentals that could garner the most attention. With the global economy showing signs of recovery, oil ...

Chevron's $82 bln LNG deal puts heat on rivals

PERTH, Dec 7 - Chevron Corp's (CVX.N) A$90 billion ($82.5 billion) sale of Wheatstone liquefied natural gas to Tokyo Electric Power (9501.T) is set to add pressure on rival Australian projects in their race to find customers. The deal, which would see Japan's top utility take ...

Coal throbs at the heart of India growth engine

KORBA, India, Dec 7 - A thin coat of coal dust covers everything from trees to houses in Korba, a coal mining town in central India which lies at the heart of the country's struggle to balance economic growth with climate change concerns. The air is heavy with smoke and dust ...

Saudi oil min sees no change at OPEC meet: report

DUBAI - OPEC will not change its production target when its ministers meet later this month as oil prices are at the desired levels, Saudi Arabian Oil Minister Ali al-Naimi said in remarks published on Sunday. "Nothing will happen, no change in production as oil prices are the ...

Current oil prices '"balanced" says Angola jr minister

NEW DELHI - Angola's deputy oil minister on Sunday said that current oil prices were "balanced" and had stabilized at around $80 a barrel. "Of course as a producing country we always want more but it is a balanced price at the moment ... The price is around $80 a barrel but it ...

Nigeria pumping 1.8-1.85 mln barrels per day of oil: minister

ABUJA - Nigeria is currently producing between 1.8 million and 1.85 million barrels per day (bpd) of crude oil plus 600,000 bpd of condensate, the minister of state of petroleum said on Sunday. "We haven't produced 2 million per day for a very long time," said the minister, Odein ...

Hedge funds bet high oil, snap up Suncor

CALGARY, Alberta - Some of the largest hedge funds are betting heavily that high oil prices are here to stay as they have added to stakes in Suncor Energy Inc (SU.TO), one of the large-cap energy stocks most sensitive to the price of oil. Among those increasing their stakes in ...

Alaska forecasts high oil prices, slumping output

ANCHORAGE, Alaska, Dec 10 - A year after oil markets soared to record highs and then crashed, prices have stabilized well off their 2008 highs but more than double their lows, and markets are expected to be calmer for the foreseeable future, Alaska's top revenue official said on ...

Three found dead in ship oil container in Shanghai

SHANGHAI, Dec. 10 - Three people were found dead in an oil container on a waste-oil collection ship in Shanghai's Songjiang District, local police said. Songjiang police came to the ship and found the bodies of two men and one woman in the container after receiving a call, said a ...
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