Friday, March 16, 2012

TOP NEWS PICK : MARCH 16, 2012

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Chevron finds fresh oil leak in Brazil 
Chevron has moved to suspend production at its Frade oilfield in Brazil after discovering a second oil spill and subsidence in the seabed near the facility | Financial Times 

Obama said to mull tapping oil reserve 
WASHINGTON, March 16 (UPI) -- President Barack Obama is mulling tapping U.S. oil reserves to ease gas prices, British officials said after Prime Minister David Cameron left the White House | UPI.com 

Anadarko Announces Successful Appraisal Well Encountering High-Quality Oil Offshore Ghana 
HOUSTON, TX--(Marketwire -03/16/12)- Anadarko Petroleum Corporation (NYSE: APC - News) today announced the Enyenra-4A appraisal well, located in the Deepwater Tano Block offshore the Republic of Ghana, encountered approximately 105 feet (32 meters) of net oil pay in high-quality sandstone reservoirs, expanding the areal extent of the TEN (Tweneboa, Enyenra and Ntomme) complex | Marketwire 

GE To Supply Water Recycling Technology For SAGD Project In Alberta Oil Sands 
GE's wastewater evaporation technologies have been selected to improve wastewater recovery at an existing oil sands project near Fort McMurray in Alberta, Canada. The facility utilizes once through steam generators (OTSGs) to produce steam, which drives the steam assisted gravity drainage (SAGD) process for the production of bitumen, which is a heavy crude oil produced from oil sands | Oil and Gas Online 

Oil near $106 as US denies plan to release crude 
SINGAPORE (AP) -- Oil prices rose to near $106 a barrel Friday in Asia after the U.S. denied reports it and Britain plan to release some their strategic crude reserves | Associated Press 

China looks to ramp-up shale output 
China hopes to make breakthroughs in shale gas technologies in coming years to support large scale production later this decade, as it strives for a higher share of gas consumption in China's energy mix | Upstream Online 

GE takes stake in Howard Energy 
GE Energy Financial Services has purchased a 30.6% stake in pipeline operator Howard Energy Partners for an undisclosed sum | Upstream Online 

Falkland Islands oil dispute: UK hits back at Argentina 
The UK has hit back at Argentina's threats of court action over Falkland Islands oil exploration, calling its behaviour "illegal intimidation" | BBC 

Brent rebounds on Iran tensions 
Brent crude rebounded above $123 on Friday after a sharp sell off the previous session, as rising tensions between Iran and the West fuelled an oil rally that has forced Western leaders to prepare a release of their strategic oil reserves | Upstream Online

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