Turkmen gas to reach central China in early Dec

Turkmenistan gas piped through China's second west-to-east pipeline will reach residential users in central China in early December, ahead of schedule to meet a winter demand spike, China National Petroleum Corp (CNPC) said on Friday. [Read more] Source: Reut...

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Heritage Oil starts testing target formations on Miran oil block in Iraq

Heritage Oil has commenced extensive testing of target formations and is accelerating a large 3D seismic programme across the Miran block in the Kurdistan region of northern Iraq. The decision was made after hydrocarbon shows were encountered in the initial Cretaceous...

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Energean to Drill New Oil Wells in Aegean Sea to Lift Output

Energean Oil & Gas SA, Greece’s only hydrocarbon exploration and production company and formerly known as Aegean Energy SA, said it will drill new wells in the Aegean Sea to boost oil production. Energean hired the GPS Saturn jackup rig from Romania’s Grup...

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Xcite Energy signs LoI with British American Offshore for jack-up unit

Xcite Energy, an oil exploration and development company, has announced that its subsidiary, Xcite Energy Resources Limited has entered into a binding letter of intent, or LoI, with British American Offshore Limited, part of Rowan Companies, Inc., for the N-Class...

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OPEC to Raise Shipments 1.2% This Month on Asia Demand, Oil Movements Says

he Organization of Petroleum Exporting Countries will increase crude loadings by 1.2 percent this month on rising exports to Asia, according to tanker- tracker Oil Movements. Shipments will rise to 23.65 million barrels a day in the four weeks to Dec. 4, compared...

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Helmerich & Payne Q4 Profit Beats Street View

Contract drilling company Helmerich & Payne, Inc. Thursday reported a higher profit for the fourth quarter, driven by increased revenues from all three business segments. On a per share basis, earnings topped Wall Street analysts' forecast. [Read more] Source:...

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Kinder Morgan, Spectra Pipeline Charges Under Scrutiny

Kinder Morgan Energy Partners LP and Spectra Energy Corp. may be charging too much to ship natural gas through their pipelines, the U.S. Federal Energy Regulatory Commission said today. FERC studied the rates Kinder Morgan Interstate Gas Transmission LLC and Spectra’s Ozark Gas Transmission LLC charged...

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Polarcus orders two advanced seismic ships

Dubai-based, Oslo-listed seismic vessel operator Polarcus has ordered two new high-end 3D seismic ships. Like the company's exisiting existing POLARCUS ASIMA and POLARCUS ALIMA, they will be constructed to the X-bowed ULSTEIN SX134 design, but with a higher ice...

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Major electric LNG propulsion order for ABB

ABB has won an order worth $58 million to provide complete power and propulsion systems for six new LNG carrier ships to be built by Samsung Heavy Industries in South Korea. The order was booked during the third quarter of 2010. [Read more] Source: The Motors...

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Gas leak forces Chevron to cease production on North Sea platform

A major gas leak has been reported on a North Sea platform belonging to energy giant Chevron. More than 100 workers believed they were going to have to evacuate the Alba Northern yesterday after gas was accidently released. Nobody was injured – but one worker...

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Major shale JV deals have all been done-banker

Oil and gas companies like Chesapeake Energy Corp have raised billions of dollars by selling stakes in shale acreage in recent years, but the days of big deals are likely over, an investment banker said on Thursday. [Read more] Source: Reut...

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US Republican asks to expand power of energy panel

A key Republican on Thursday asked lawmakers to consolidate energy oversight in the House of Representatives into one powerful energy committee. Doc Hastings, the expected incoming head of the House Natural Resources Committee, called for expanding his panel's...

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Cabot Oil & Gas Corporation Announces Sale of its Pennsylvania Midstream Assets

Cabot Oil & Gas Corporation today announced the sale of its Pennsylvania midstream assets to Williams Field Services Company, LLC (WFS), a subsidiary of Williams Partners L.P., for consideration of $150 million plus a 25-year gathering agreement.  The transaction is scheduled to close during...

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Karoon Gas Cancels Unit's Planned Brazil IPO, Citing `Market Conditions'

Karoon Gas Australia Ltd., the energy explorer with prospects in Brazil and Peru, canceled a planned initial public offering of its South American business because of “unfavorable financial market conditions.” Share sales by Brazilian oil and gas companies haven’t...

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Atwood Oceanics Q4 Profit Rises

Atwood Oceanics, Inc. posted fourth quarter net income of $64.2 million or $0.99 per share, compared to $48.3 million or $0.75 per share in the year-ago period. On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $0.92 per share. Analysts' estimates typically...

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Gunmen kill Weatherford oil manager in Mexico

Gunmen have killed a manager at a Swiss-based oil services company in Mexico, the latest sign of mounting lawlessness in remote parts of the country that is hurting a major industry. Francisco Alberto Ruiz, who worked as a billing manager for Weatherford International at one of Mexico's onshore oil...

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BP's probation over Alaska oil spill challenged

BP's Alaska unit should have its criminal probation revoked and be subject to additional penalties because the company continued negligent behavior even after pleading guilty over its 2006 Prudhoe Bay pipeline spill, a federal probation officer said. [Read more] Source:...

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S Korea bids for Brazilian warships project

A South Korean shipbuilding company has put forward its proposal in response to Brazil’s bid to build 11 warships for its Navy [Read More] Source: Brahmand....

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