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| June 04, 2014 |
 Total signs $1.1 billion deal to help develop ultra-deep Nigerian waters Hamilton, Bermuda (UPI) Jun 3, 2013 - Offshore drilling company Seadrill Ltd. said it signed a $1.1 billion deal with French energy company Total to help develop reserves in the deep waters off the Nigerian coast. "This contract provides an opportunity to deepen our relationship with a key customer and strategically increase our rig fleet in Nigeria," Per Wullf, Seadrill's chief executive officer, said in a statement Monday ... more |  |
Small British company sees big potential in shale oil and gas London (UPI) Jun 3, 2013 - A small energy company, Union Jack Oil, said there may be as much as 5.4 billion barrels of oil and 2.7 trillion cubic feet of gas in British shale deposits. Union Jack holds a 10 percent stake in a license area in the central United Kingdom dubbed PEDL201. The company said in a statement Monday an independent site assessment indicates the potential in shale oil and gas in the area is e ... more |  |
Exports of Kurdish oil helped Iraq, Turkish energy minister says Ankara, Turkey (UPI) Jun 3, 2013 - Turkey is doing its neighbors in Iraq a favor by hosting the first shipment of oil from the semiautonomous Kurdish north, the Turkish energy minister said. The semiautonomous Kurdistan Regional Government in May announced its first delivery of more than 1 million barrels of oil from the Turkish sea port at Ceyhan. Iraq said the shipment violates the nation's constitution and blames Anka ... more |  |
IEA report says right policies needed as much as right investments Paris (UPI) Jun 3, 2013 - It will require $48 trillion in investments through 2035 to meet the world's growing energy needs, the International Energy Agency said Tuesday from Paris. IEA Executive Director Maria van der Hoeven said in a statement the reliability and sustainability of future energy supplies depends on a high level of investment. "But this won't materialize unless there are credible policy f ... more |  |
Ukraine still owes Gazprom for more than 340 billion cubic feet of gas Moscow (UPI) Jun 3, 2013 - Ukrainian energy company Naftogaz has yet to pay for more than 340 billion cubic feet of Russian natural gas, a spokesman for Gazprom said Tuesday. Gazprom spokesman Sergei Kuprianov said negotiations are ongoing as to how and when the Ukrainian company will settle its outstanding debt obligations. "There is a progress in the process of negotiations," he told state news agency RI ... more |  |
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Turkey buys stake in Azeri gas field to break Russia's grip on energy sector Ankara, Turkey (UPI) Jun 2, 2013 - Turkey says its move to acquire a stake in the Shah Deniz natural gas field off the coast of Azerbaijan is part of a regional diversification strategy. State-owned Turkish Petroleum Corp. agreed to buy the 10 percent share in Shah Deniz owned by French energy company Total for $1.45 billion. The deal is part of an effort by Turkey to lessen its dependence on Russia, the English-language ... more |  |
Marathon Oil unloads its Norwegian assets in $2.7 billion deal Houston (UPI) Jun 2, 2013 - Marathon Oil Corp. said Monday it sold off its Norwegian subsidiary to its Norwegian counterpart, Det Norske, for $2.7 billion. "The sale of our Norway assets advances one of our key 2014 priorities and further demonstrates our commitment to rigorous portfolio management to simplify and concentrate our business," Lee Tillman, Marathon Oil's president and chief executive officer, said in ... more |  |
Domestic energy production enough to meet more than 80 percent of U.S. demand Washington (UPI) Jun 2, 2013 - Enough energy was produced in the United States last year to meet more than 80 percent of the nation's demands, the Energy Department said Monday. The U.S. Energy Information Administration, the statistical arm of the Energy Department, said 81.7 quadrillion British thermal units of energy was produced from domestic resources last year. EIA said natural gas was the largest source ... more |  |
Turkey brushes off criticism over Iraqi Kurdish oil Istanbul (AFP) June 02, 2014 - Ankara on Monday brushed off criticism from Baghdad that it is being "driven by greed" in an escalating row over oil pumped from Iraq's autonomous Kurdish region and shipped overseas via Turkey. Hussein al-Shahristani, Iraq's deputy prime minister for energy affairs, on Sunday threatened legal action against firms that purchased what he called "smuggled oil", which Turkey started to export t ... more | |
Ukraine averts gas crisis by settling some debt with Gazprom Moscow (UPI) Jun 2, 2013 - Payments for gas deliveries in February and March were made by the Ukrainian government, averting a disruption, the Russian Energy Ministry said Monday. The Ukrainian government announced the payment Friday and a spokesman for the Russian Energy Ministry confirmed its receipt in a statement to state news agency RIA Novosti. "The Russian energy ministry confirms it had received $7 ... more |  |
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Gazprom working in Iraq on oil developments Moscow (UPI) Jun 2, 2013 - Russian oil company Gazprom Neft said Monday it started preliminary oil production from the Badra oil field in Iraq, where it serves as the operator. Badra is located in the eastern Iraqi province of Wasit and has estimated reserves of 3 billion barrels of oil. Gazprom Neft, the oil arm of gas company Gazprom, said initial production began and testing is underway at a central pro ... more |  |
Exxon wins right to explore transboundary oil and gas areas in the Gulf of Mexico Washington (UPI) Jun 2, 2013 - Exxon Mobil won the first three oil and gas leases for an area straddling the U.S.-Mexican border in the Gulf of Mexico, the U.S. Interior Department said. Exxon gets access to nearly 1.5 million acres in the Gulf of Mexico. The U.S. Interior Department estimates the area, Alaminos Canyon, contains as much as 172 million barrels of oil and 304 billion cubic feet of natural gas. T ... more |  |
Oil tensions with China highlight Vietnam's economic vulnerabilities Hanoi, Vietnam (UPI) Jun 2, 2013 - Amid tensions over a Chinese oil rig in disputed waters, an economic policy center in Hanoi said Vietnam needs to take steps to reduce its ties to China. An annual report from the Vietnam Center for Economic and Policy Research says Vietnam's economy is expected to slow down because of ongoing tensions with China over an oil rig operating in disputed waters in the South China Sea. ... more |  |
Algeria eager to replicate U.S. success with shale oil and gas Algiers, Algeria (UPI) Jun 2, 2013 - The Algerian government views shale oil and natural gas as a way to add diversity to its energy sector, Algerian Energy Minister Youcef Yousfi said. Yousfi met with visiting U.S. Energy Secretary Ernest Moniz in Algiers to discuss energy developments in the country, more than a year after terrorists stormed the In Amenas gas facility in the country's eastern desert. "Algeria is c ... more |  |
Army must do more to protect pipeline: Iraq deputy PM Baghdad (AFP) June 01, 2014 - Iraq's army must do more to protect a northern oil pipeline and should pay as much attention to it as it does to fighting militants, Iraq's top energy official told AFP Sunday. The rare criticism of the security forces comes with the pipeline, which connects the northern province of Kirkuk to the Turkish Mediterranean port of Ceyhan, having been disabled for three months as a result of milit ... more |  |
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Turkey 'driven by greed' in Kurd oil row: Iraq deputy PM Baghdad (AFP) June 01, 2014 - Ankara has been "driven by greed" in an escalating row over oil pumped from Iraq's autonomous Kurdish region and shipped overseas via Turkey, Baghdad's top energy official told AFP Sunday. Hussein al-Shahristani, deputy prime minister for energy affairs, also threatened legal action against firms that purchased the "smuggled oil". His remarks represent a significant ratcheting up of rhet ... more |  |
More than a year after security scare, Austria's OMV to invest in Tunisian gas Vienna (UPI) May 30, 2013 - Austrian energy company OMV said Friday it was investing $680 million in the Nawara gas field development project in Tunisia. "OMV is fully committed to investing in the development of resources in Tunisia to increase production levels and develop the reserves base," Jaap Huijskes, an executive member of the OMV board, said in a statement Friday. OMV made the final investment dec ... more |  |
Deliveries could begin in 2019 from natural gas export facility in Texas Houston (UPI) May 30, 2013 - U.S. gas company Cheniere Energy said Friday its Spanish counterpart, Iberdrola, agreed to buy liquefied natural gas from a planned export terminal in Texas. Cheniere Energy Chairman Charif Souki said Friday deliveries of as much as 400,000 tons of liquefied natural gas from the planned Corpus Christi export facility could begin by 2019. Iberdrola, he said, "is the first foundati ... more |  |
Libya's oil company has new outlook London (UPI) May 30, 2013 - The chairman of the Libyan National Oil Corp. said the government aims to hold an auction for new oil licenses once political hurdles are cleared. Companies interested in investing in Libya, once a premier North African oil producer, have said the nation's troubled security sector and tough contractual terms are keeping them at bay. NOC Chairman Mustafa Sanallah told potential in ... more |  |
Norway removes Greenpeace ship from contested Arctic drill site Oslo (AFP) May 30, 2014 - Norwegian coastguards on Friday removed a Greenpeace ship from a controversial Arctic drilling site where it was trying to prevent oil explorations, the environmentalist group said. "We are appalled by Norway's decision to end a peaceful and legal protest," Greenpeace activist Sune Scheller said in a statement. "We will not stand by while their drilling rigs destroy our last remaining wi ... more |  |
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