Wednesday, March 28, 2012

TOP NEWS PICK : MARCH 28, 2012

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Malaysia's Petronas, Total sign HOA on development of offshore sour gas field 

Malaysia's Petronas and Total of France have signed a heads of agreement to jointly study the development and production of a high carbon dioxide gas field offshore Sarawak in eastern Malaysia, the state-owned oil and gas company said Wednesday | Platts

Total shuts in gas production from North Sea fields 
Production was shut in from Elgin, Franklin, and West Franklin natural gas and condensate fields in the UK North Sea following a Mar. 25 gas leak on the wellhead platform on Elgin field 240 km east of Aberdeen, Total SA reported | Oil & Gas Journal

Indonesia offers 19 blocks 
The Indonesian government will invite tenders for five of 19 oil and gas blocks to be offered to investors in the latest block offer, according to reports | Upstream Online

Burma set for block awards 
Burma is in the process of awarding nine onshore oil and gas blocks to seven foreign oil companies and their domestic partners, and will launch another tender soon, its energy minister said on Wednesday | Upstream Online

Brent slips below $125 
Brent crude fell for a second session on Wednesday, breaching $125, on the possibility of a release of strategic oil reserves by the US even after crude stockpiles in the world's largest oil user rose more than expected last week | Upstream Online

Nigeria to partner private investors in
minerals and metal sector 
Sweetcrude, ABUJA -The Federal Government has said it was willing to work with private development partners to ensure that the minerals and metal sector contributes significantly to the nation’s economic development | Sweetcrude

Nigeria to produce 3m tonnes p/a of liquid steel by 2015 
THE Federal Government says Nigeria would be producing 3 million tons per annum of liquid steel by the year 2015, in its determination for the minerals and metal sector to contribute meaningfully to the government’s transformation agenda | Sweetcrude

Tullow, Africa Oil make Ngamia discovery 
Tullow Oil and Africa Oil Corporation have announced their Ngamia-1 exploration well onshore Kenya has encountered in excess of 20 metres of net oil pay | Upstream Online

Vitol takes stake in SAfrica coal miner CIC 
MOSCOW (Reuters) - Energy trader Vitol is taking a 9.1 percent stake in South Africa miner CIC Energy Group as part of its strategy to develop a substantial coal business for the long-term, a Vitol executive told Reuters on Tuesday | Reuters

Kurds may stop crude exports if Iraq withholds payments 
The Kurdistan Regional Government has said crude exports from the semi-autonomous region have dropped to 50,000 barrels a day and may cease in a month if the central government refuses to pay about $1.5bn owed to producers, Bloomberg has reported. | AMEinfo

Strike actions at BHP coal mines to escalate: union
SYDNEY (Reuters) - Union workers will step up industrial action against seven Australian coal mines operated by BHP Billiton (ASX:BHP.AX - News) (BLT.), which are among the largest in the world, a union official said on Wednesday | Reuters

Obama Administration Offers $35 Million for Biomass Research 
The White House on March 22 announced an offer of up to $35 million over three years to support research and development in advanced biofuels, bioenergy, and high-value biobased products | EERE News

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