Wednesday, June 13, 2012


Developments in International Oil & Gas | Energy | Extractive Industries


Turkey looks to Libya for oil 
ANKARA, Turkey, June 13 (UPI) -- The Turkish government announced it landed an oil supply deal with Libya after opting to cut back on crude oil deliveries from Iran | UPI

Nigeria’s labour insists on full implementation of subsidy probe report 
THE Nigeria Labour Congress, NLC, has warned that the bribe scandal currently rocking the House of Representatives probe of the fuel subsidy regime should not in any way stop the implementation of the report authored by the Farouk Lawan probe committee | Sweet Crude

AFPM Sues EPA Over Cellulosic Ethanol Mandate 
The American Fuel & Petrochemical Manufacturers (AFPM) and the Western States Petroleum Association (WSPA) filed a lawsuit today with the D.C. Circuit Court challenging the Environmental Protection Agency (EPA) decision to require refiners to blend cellulosic ethanol or pay the agency for waiver credits "due to the inability to blend these non-existent fuels under the federal Renewable Fuel Standard (RFS)," | OPISnet

Saudi under OPEC pressure to prevent oil price collapse 
VIENNA (Reuters) - Saudi Arabia came under pressure on Wednesday from fellow OPEC producers to cut oil output to prevent a further slide in crude prices | Reuters

Saudi-led group close to win Moroccan solar plant 
A consortium led by Saudi International Company for Water and Power (ACWA) is close to win a contract worth at least $500 million to build a 160-megawatt concentrated solar power plant south of Morocco | Reuters

EPA urged to retain certain PM air-quality standards 
The US Environmental Protection Agency should consider retaining certain existing particulate matter (PM) air-quality standards, an American Petroleum Institute spokesman said June 12 | OGJ

Obama Administration Announces Major Step Forward for the American Centrifuge Plant 
WASHINGTON – U.S. Energy Secretary Steven Chu announced today that the Obama Administration reached a major milestone in its efforts to secure an advanced domestic uranium enrichment capability for national security purposes | Energy.GOV

Platts Petrochemical Analysis: Benzene activity in Asian trading day notably thin 
Asian benzene fell $11.50/mt or 1.2% day on day to $988.50/mt FOB Korea June 13, as demand for prompt cargoes was heard to have fallen. "There are more sellers for July today," a Singapore based trader said. Other market sources said prompt demand had also dissipated in the US and Europe. In the US, benzene fell to $1,240/mt FOB USG, while in Europe the price fell to $1,331/mt CIF ARA | Platts

Russian energy minister backs profit-based taxes 
Russia’s new energy minister has said he favours returning to the idea of introducing profit-based taxes to replace onerous revenue taxes seen as a brake on new output | Upstream Online

Cairn agrees £400m bid for North Sea explorer 
Cairn Energy has bid £414m in cash for North Sea explorer Nautical Petroleum in another move to establish itself in the oil province following the sale of assets in India and failure to strike oil off Greenland last year | Financial Times

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