Wednesday, May 30, 2012

TOP NEWS PICK : MAY 30, 2012

Developments in International Oil & Gas | Energy | Extractive Industries


Nigeria to draw $500m investments from UK partnerships 
Over 40 new alliances formed by British and Nigerian companies would be expending over $500 million in Nigeria’s oil and gas industry within the next five years, British Deputy High Commissioner to Nigeria, Mr. Peter West, has said | SweetCrude

Chevron mulls using solar energy in Saudi-Kuwait oilfield 
Chevron said it may use solar power in 2013 to produce the steam needed to pump heavy crude from Saudi-Kuwaiti oilfield, Bloomberg reported | MENA FN

Ethanol Drops With Corn Contract to Lowest Levels Since 2010 
Ethanol futures dropped along with corn to the lowest levels since 2010 amid high stockpiles of the biofuel | BloombergBusinessweek

Kuwait Energy grabs Iraqi block 
Kuwait Energy heads a consortium of players which has been handed an exploration block by Iraqi in Wednesday's licensing round | Upstream Online

South Africa to build big nuclear plant 
Johannesburg, May 30 (IANS) South African Deputy President Kgalema Motlanthe has stressed the need for replacing coal with other energy sources, particularly nuclear energy. He said the country would build a large nuclear plant | IANS

Iraq holds 4th Post-War Oil and Gas Auction 
BAGHDAD (AP) -- A Kuwaiti-led energy consortium on Wednesday won the right to search for oil and gas in southern Iraq as part of the country's fourth postwar energy auction. Two natural gas exploration deals meanwhile attracted no bidders | Citizen-Times

New Bill waters down Nigeria’s
oil reforms 
NIGERIA’s long-awaited Petroleum Industry Bill (PIB), when it finally comes, looks likely to be a botched job that gives favorable tax terms to foreign oil firms while doing little to satisfy calls for transparency and reform of a corrupt and wasteful sector, Reuters reports | SweetCrude

BG Group sells interest in Philippines power plants 
BG Group today announced it had reached agreement to sell its 40% equity interest in two gas-fired power generation plants in the Philippines to its partner in the facilities, First Gen Corporation, for net cash proceeds of $360 million | OilVoice

Malaysia: Renewable energy sector offers lots of opportunities 
KUALA LUMPUR (May 30, 2012): The renewable energy space offers lots of opportunities and local companies have the potentials to become regional leaders, said Shahazwan Harris, Khazanah Nasional Bhd executive director for investments | The Sun Daily

Vodacom’s solar panels to cut carbon footprint 
VODACOM’S Century City office in Cape Town will have the largest array of solar panels on a single building in Africa. Nearly 2 000 monocrystalline solar panels will cover the 3 600m2 roof, providing up to 75 percent of all power required by the building during peak production | BusinessReport

South Korea to be home to world’s largest hydrogen-powered town 
South Korea has been showing a great deal of interest in hydrogen fuel cells recently | Hydrogen Fuel News

Brent heads for biggest monthly drop in 2 years 
Brent oil dropped to below $106 per barrel on Wednesday, on track for its biggest monthly decline in two years as a worsening euro zone debt crisis slashed risk appetite | Upstream Online

Shell to Expand Athabasca Oil-Sands Output 
CALGARY—Royal Dutch Shell PLC will expand its Athabasca oil-sands project by a third by the end of the decade and Canada will make up a larger share of Shell's energy production over that period, Chief Executive Peter Voser said Tuesday | Wall Street Journal

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