Wednesday, April 11, 2012

TOP NEWS PICK : APRIL 11, 2012

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S. Sudan 'captures Heglig oilfield' 
South Sudan troops have captured the strategic oil town of Heglig as a battle with neighbour Sudan continues to rage, a report has claimed | Upstream Online

Iran says it can withstand oil embargo for 'several years' 
Iranian President, Mahmoud Ahmadinejad has said Iran has enough funds to withstand a total embargo on its oil sales for several years, Reuters has reported | AMEinfo

Saudi Arabia might post record oil earnings in 2012 
Saudi investment firm, Jadwa Investment has said the kingdom may generate record oil revenue this year as the world's biggest crude exporter boosts output and benefits from higher prices for the commodity | AMEinfo

S.Arabia offers to bail Pakistan out of energy crisis 
Islamabad (Dawn/ANN) - Saudi Arabia looks askance at Pakistan's commitment to pursue energy cooperation with Iran and is nudging the government to reconsider its decision | ANN

Brent steadies at $120 
Brent crude held at $120 on Wednesday, after posting steep losses in the previous session, as a cut in global oil consumption forecast by the EIA and an unexpected surge in US crude stocks reinforced fears demand growth may slow | Upstream Online

Energy groups agree to tariff advice 
The six biggest energy companies have agreed to write to customers every year to advise them on their best tariff under a commitment secured by the coalition, Nick Clegg will reveal today | Financial Times

Schlumberger sells Wilson unit 
Oilfield services company Schlumberger will sell piping and fitting distribution unit Wilson International to National Oilwell Varco for an undisclosed cash sum, the companies have announced | Upstream Online

Beijing reaffirms position on oil, gas exploitation 
China on Tuesday reiterated its position opposing any other countrythat exploits oil and gas resources in Chinese maritime areas withoutpermission of the Chinese government | China Daily

NEITI canvasses transparency, accountability in PIB 
The Nigerian Extractive Industries Transparency Initiative, NEITI, has renewed calls for the passage of the Petroleum Industry Bill, PIB, stressing that the issue of transparency and development of the oil and gas industry and the national economy hinges on the passage of a robust and pragmatic legislation | SweetCrude

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