INTERVIEW-Japan’s Osaka Gas seeks U.S. shale gas stake

INTERVIEW-Japan’s Osaka Gas seeks U.S. shale gas stake

From REUTERS By Osamu Tsukimori TOKYO, April 15 (Reuters) - Osaka Gas Co is looking to buy a stake in at least one U.S. shale gas project to help supply fuel to the Freeport LNG project in Texas, a senior company official said on Tuesday. Japanese gas and power utilities have been looking for ways to cut fuel costs after their liquefied natural gas (LNG) imports and payments rose to records last year due to ...

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Africa and Brazil ‘are Better Oil Bets than Arctic’

Africa and Brazil ‘are Better Oil Bets than Arctic’

From BUSINESSREPORT By Nina Chestney            London - Africa and Brazil were more attractive areas for oil and gas exploration than the Arctic, where firms would need 15 to 20 years to tap reserves due to the harsh climate, the chief executive of Norway’s DNV GL said yesterday. DNV GL is one of the world’s largest certification, inspection, testing and advisory firms for the maritime, oil and gas and ren ...

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Canada’s Oil Output Seen Growing to 3.9 Million b/d Next Year: CAPP Official

Canada’s Oil Output Seen Growing to 3.9 Million b/d Next Year: CAPP Official

From PLATTS Canada's total crude oil output is expected to reach 3.9 million b/d in 2015, some 500,000 b/d more than the current output, driven primarily by small in-situ oil sands developments, each typically 35,000-40,000 b/d, an industry official said Monday. Oil sands output in Alberta will account for 2.3 million b/d of the new barrels to be produced next year, followed by conventional light output in ...

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Nigeria Pays $10m to Ghana for Failure to Meet Gas Supply Agreement

Nigeria Pays $10m to Ghana for Failure to Meet Gas Supply Agreement

From THIS DAYS LIVE By Chika Amanze-Nwachuku with agency report The federal government has paid $10 million to Ghana as compensation for Nigeria’s failure to meet the gas supply agreement it entered with the latter. Under the agreement signed in 1999, Nigeria was required to supply Ghana a total of 123 million Metric British Thermal Units (MMBtu) of gas per day. However, Nigeria was said to have failed to m ...

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Iraq to Resume Oil Exports to Turkey

Iraq to Resume Oil Exports to Turkey

From RUDAW By RUDAW Last month Turkey stopped the flow from Kurdistan through the one operational Kurdish pipeline following objections by Baghdad. ERBIL, Kurdistan Region – Iraq will resume crude exports through a pipeline to Turkey within days, the Iraqi oil minister said, as Erbil and Baghdad try to resolve a serious dispute over energy exports. "We are trying to resolve these problems. I believe the flo ...

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Norway to Boost Oil Project Oversight after Cost Overruns

Norway to Boost Oil Project Oversight after Cost Overruns

From REUTERS (Reuters) - Norway is growing increasingly intolerant of delays and cost overruns at offshore oil projects and plans to keep a closer eye on operators, intervening when necessary, the head of the oil directorate said. A growing number of inexperienced firms are working on projects, which is a big risk for the government because it offers big development subsidies, regulator Bente Nyland said on ...

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Ethanol Rebounds With Rail Congestion Slowing Supplies

Ethanol Rebounds With Rail Congestion Slowing Supplies

From Bloomberg By Mario Parker Ethanol advanced for the first time in three days on speculation that rail congestion hampering production and supply will take some time to ease. Futures climbed 4.3 percent, a day after consecutive declines of 10 percent and 7.8 percent. While an Energy Information Administration report showed stockpiles gained last week, inventories are 9.2 percent lower than a year ago and ...

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Oil Discovery at All-time High in March

Oil Discovery at All-time High in March

From DAWN.COM KARACHI: The oil and gas exploration companies were able to drill out 92,905 barrels of oil per day (bopd) in March this year, which the sector experts cheer as the all-time high production of crude in the country. In nine-month (July-March) FY14, the country produced an average 83,000 bopd, up 11pc over 75,000 bopd in corresponding period of the previous year. The production of natural gas, o ...

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Oil Industry, U.S. Regulators Mulling New Testing Standards

Oil Industry, U.S. Regulators Mulling New Testing Standards

From REUTERS (Reuters) - U.S. transportation officials and leaders of the oil industry are mulling whether standards for testing crude must be updated in light of several oil-by-rail mishaps. The American Petroleum Institute, the leading voice for the sector, has convened industry experts to develop new testing standards in a move that could help regulators, a senior Department of Transportation official sa ...

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Key Senator Says U.S. Office can Lift Part of Oil Export ban

Key Senator Says U.S. Office can Lift Part of Oil Export ban

From YAHOO! NEWS By Timothy Gardner WASHINGTON (Reuters) - A U.S. government office has the power to approve exports of an abundant type of petroleum and help energy companies begin to partially bypass a 40-year ban on crude exports, according to a report released on Tuesday by Lisa Murkowski, the top Republican on the Senate Energy and Natural Resources Committee. The ban on crude exports the government pu ...

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