Thursday, October 6, 2011

TOP NEWS PICK : OCTOBER 6, 2011

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Crude falls on Elephant fears 
Brent crude held above $102 after surging in the previous session as pessimism about weaker demand was outweighed by a surprise drawdown of US inventories and concerns that Libya's largest oilfield could be damaged. 

East Africa: Kenya Could Announce Oil Find By the End of This Year Say Industry Experts 
Could Kenya finally be about to strike oil? As firms pump in millions of dollars into the exploration business, the buzz on both the Kampala and Nairobi grapevines is that Kenya could announce an oil find by the end of 2011 | All Africa.com

Petrobras in Tanzania farm-out 
Brazilian giant Petrobras said late on Monday that it has granted supermajor Shell a 50% interest in two blocks in Tanzania under a farm-out agreement | Upstream Online

Iceland opens licencing round 
Iceland has opened a second round for hydrocarbon exploration and production licences on the Icelandic Continental Shelf, two years after its first licencing offer | Upstream Online

Argentina's Largest Wind Farm Opens 
Argentinean President Cristina Fernandez has inaugurated the largest wind power plant in Argentina in southern Patagonia. Patagonia's Rawson wind turbines plant will generate 80 megawatts of electricity | REVE

Chevron launches world’s largest solar EOR project 
Chevron Technology Ventures launched its demonstration project to test the viability of using solar energy to produce oil. The project uses over 7600 mirrors to focus the sun’s energy onto a solar boiler, producing steam that is injected into oil reservoirs to increase oil production | Ifandp 

Saudis may import gas due to rocketing Mideast demand: Gazprom 
Soaring demand for natural gas in the Middle East could turn oil giant Saudi Arabia into a gas importer before the end of the decade, a senior official from Russian Gazprom said Tuesday | Platts

Indonesia Abadi Gas Reserves Likely 300 Million Tons -Inpex Executive 
TOKYO -(Dow Jones)- Inpex Corp. (1605.TO) has estimated that its Abadi floating liquefied natural gas project in Indonesia has roughly 300 million metric tons in reserves, an executive said Tuesday | Foxbusiness

Kazakhstan eyes huge crude export hike 
Kazakhstan is planning a crude oil drive in the next two decades with an increase in exports of over 50% on the cards, a report claims | Upstream Online

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