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| April 24, 2014 |
 Kiev needs at least $3 billion for gas overhaul Kiev, Ukraine (UPI) Apr 23, 2013 - More than $3 billion is needed to overhaul the Soviet-era natural gas transit network in Ukraine, Ukrainian Energy Minister Yuri Prodan said Wednesday. European consumers rely on Russian energy company Gazprom for about a quarter of their annual gas needs, though the bulk of those supplies runs through Ukraine's pipeline network. "In order for the gas transport system to operate ... more |  |
Baku wants rights investment climate in Caspian region Moscow (UPI) Apr 23, 2013 - Mutual trust among littoral states to the Caspian Sea is vital for a vibrant investment climate in the region's energy sector, the Azeri foreign minister said. Azeri Foreign Minister Elmar Mammadyarov met with regional leaders in Moscow to discuss the importance of energy links in the Caspian region, which forms the foundation for some of the largest oil and natural gas pipeline network ... more |  |
BP streamlines Alaskan business Houston (UPI) Apr 23, 2013 - British energy company BP said it was selling its stake in oil fields in the North Slope of Alaska in order to focus more on gas and the Prudhoe Bay oil field. Lamar McKay, chief executive officer for BP's upstream operations, said the sale to Hilcorp, an energy company based in Houston, gives BP the opportunity to focus on managing larger oil and gas opportunities in Alaska. "Th ... more |  |
Less flaring of gas to help allies, Hoeven says Williston, N.D. (UPI) Apr 23, 2013 - North Dakota Sen. John Hoeven said a reduction in the flaring of natural gas could potentially help U.S. allies with their energy needs. Hoeven met in Williston with Torstein Hole, a senior vice president of onshore operations at Norwegian energy company Statoil. The Republican senator said Statoil invested $8 billion in developing the Bakken oil play in his state and was working throug ... more |  |
Iran putting final touches on new energy contracts Tehran (UPI) Apr 23, 2013 - The Iranian government said Wednesday it would revise how it governs oil and natural gas contracts, though sanctions must be lifted for full utilization. Mehdi Hosseini, the director of a committee tasked with contract revisions, said Iran will be switching from a buy-back system to one based on joint ventures in the oil and natural gas sector. Iran under the terms of the previou ... more |  |
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OMV, Gazprom affirm European partnership Vienna (UPI) Apr 23, 2013 - Austrian energy company OMV views its Russian partners at Gazprom as vital to ensuring energy security in the European community, its top executive said. Gerhard Roiss, chief executive officer at OMV, met in Vienna with his Gazprom counterpart, Alexei Miller, to discuss geopolitical concerns in Europe. Both sides said the amount of gas delivered by Russia to European consumers wa ... more |  |
Crimea cut off from gas, leader says Sevastopol, Ukraine (UPI) Apr 22, 2013 - A pro-Russian leader in the Crimean Peninsula of Ukraine said the region was receiving less than its fair share of natural gas. De facto Prime Minister of Crimea Sergei Aksyonov said about 30 percent of the area residents were getting supplied with natural gas. "And this is despite the fact that gas is produced on the peninsula on a scale sufficient to supply the whole population ... more |  |
Suncor starts maintenance work in Montreal Calgary, Alberta (UPI) Apr 22, 2013 - Canadian refiner Suncor Energy said it started a four-week maintenance period at its facility in Montreal, which can process 137,000 barrels of oil per day. Suncor said about 900 of its employees would be involved in planned maintenance activity at its Montreal refinery. "The planned maintenance is designed to support safe, reliable operation of the refinery," the company said in ... more |  |
Madagascar fights to prevent oil spill from stricken tanker Ramena, Madagascar (AFP) April 22, 2014 - Madagascar has launched an emergency operation to prevent a stricken tanker from unleashing 10,000 cubic metres of crude oil into the postcard-perfect Emerald Sea off the country's north coast. Jerome Sambalis of Madagascar's port authority said specialist teams are being flown to the Indian Ocean island after the Bahamian-flagged ship Tromso ran aground last Thursday. The 120-metre (393 ... more |  |
Lundin spent millions on dry holes Stockholm, Sweden (UPI) Apr 22, 2013 - Swedish energy company Lundin Petroleum said Tuesday it spent roughly $127 million on exploration programs during the first quarter of the year without success. Lundin said two exploration wells drilled in Norway and two exploration wells completed in Indonesia during the first quarter came up empty. Expenses for both operations will be offset by tax credits, the company said. As ... more |  |
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Kurdish government releases energy revenue data Erbil, Iraq (UPI) Apr 22, 2013 - "Billions of dollars" generated from the oil and gas sector have benefited the citizens of the Kurdish region of Iraq, the Kurdish government said. The semiautonomous Kurdistan Regional Government published data on revenue generated from 2007-13. It said its Ministry of Natural Resources created gross revenue of around $9.7 billion. "[The ministry] has presided over the impressiv ... more |  |
U.S. defends Keystone XL delay Washington (UPI) Apr 22, 2013 - Extending the review process for the Keystone XL pipeline was proper given ongoing uncertainty about the route through Nebraska, the U.S. State Department said. A Nebraska court in February ruled legislation that gave Nebraska Gov. Dave Heineman authority over the pipeline's route violated the state's constitution. U.S. State Department spokeswoman Jen Psaki told reporters during ... more |  |
African Petroleum extends licenses in Ivory Coast London (UPI) Apr 22, 2013 - African Petroleum Corp. said Tuesday it secured an extension for its exploration program for two areas in the deep waters offshore Ivory Coast. The company's Ivorian subsidiary, African Petroleum Cote d'Ivoire Ltd., agreed to extend the period for production sharing contracts in Blocks CI-513 and CI-509 through December 2015 and March 2016 respectively. Stuart Lake, the company's ... more |  |
South Korea targets offshore reserves Seoul (UPI) Apr 22, 2013 - South Korea is looking at gas hydrate deposits and other offshore reserves in an effort to wean itself from foreign energy reserves, a government official said. State-run Korean National Oil Corp. is the fifth-largest crude oil importer in the world, taking in all of the energy requirements for the South Korean economy. An official in the energy ministry told the Platts news service on ... more |  |
CNOOC boasts of 1st quarter success Beijing (UPI) Apr 22, 2013 - China National Offshore Oil Corp. made "significant progress" with its exploration program during the first quarter, its chief executive officer said Tuesday. CNOOC said it made five new discoveries and drilled eight successful appraisal wells off the Chinese coast so far this year. "In the first quarter, the company made significant progress in exploration, particularly the new ... more |  |
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China 'very concerned' over workers kidnapped in Sudan Khartoum (AFP) April 21, 2014 - China on Monday expressed worry over the fate of two of its nationals abducted along with others from an oilfield in the war-torn Kordofan region. An official at Beijing's Khartoum embassy said "there are two" Chinese missing, updating earlier information from Sudan's military which said one Chinese was among those kidnapped on Friday. Algeria's foreign ministry on Sunday confirmed that ... more |  |
Kremlin welcomes EU's 'positive tune' on energy Moscow (UPI) Apr 21, 2013 - A spokesman for the Kremlin said Monday the Russian government was optimistic about energy security in Eastern Europe following talks with the European Union. Russian President Vladimir Putin had warned European leaders the region's energy security was at risk because of Ukraine's mounting natural gas debt. European consumers get about a quarter of their gas needs met by Russian energy ... more |  |
Iran claims expertise in deepwater exploration Tehran (UPI) Apr 21, 2013 - Iran is the only member of the Organization of Petroleum Exporting Countries that has expertise in deepwater oil and gas exploration, an official said. Ali Osouli, director of the Khazar Exploration and Production Co. in Iran, said exploring the reserves in the deep Caspian basin requires technological expertise only a few countries possess. "At present, Iran is at the top of Ca ... more |  |
British shale sector not in prime time London (UPI) Apr 21, 2013 - A British government report on the shale oil and natural gas sector suggests the infrastructure and labor pool isn't yet in place for full utilization. The British Geological Survey last year estimated the Bowland shale formation in the north of the country contains 1.3 quadrillion cubic feet of natural gas. The government says shale could ensure energy security for a country where net ... more |  |
Libya expects delays at key oil terminal Tripoli, Libya (UPI) Apr 21, 2013 - Libyan Justice Minister Salah al-Mergahani said the Zueitina oil terminal in the east of the country remains closed because of technical problems. Eastern rebel leaders vying for more autonomy over a region known as Cyrenaica blocked the export terminals of Es Sider, Ras Lanuf and Zueitina in July. The Libyan government in early April reached a deal with eastern rebel leaders to ... more |  |
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