Hints and tips:
...The US-listed miner said it had reduced net debt to $12bn in the year to December after selling a string of assets including oilfields in the Gulf of Mexico and a major African copper project....
...After Amoco, the oil company, combined with BP in 1998, it adopted the name and logo of the UK energy group across its petrol stations....
...On that basis, 40 per cent of the US production and oilfield services companies it covers are rated B-minus or below. “B-minus is a very weak rating,” says Thomas Watters of S&P....
...Falling rates for oilfield services will continue to deliver lower costs for producers as contracts come up for renegotiation....
...The US government’s Energy Information Administration said last week that in two of the three principal shale regions — the Bakken of North Dakota and the Eagle Ford of south Texas — oil production was expected...
...But the technical service contracts they signed with the Iraqi government do not include a remuneration fee for gas production....
...Baghdad has told oil companies they can work either in the south or in Kurdistan, but not in both....
...(New York Times) Anadarko finds ‘potentially giant’ oilfield: Anadarko Petroleum, the US independent oil company, has discovered a “potentially giant” field in the deep water of the Gulf of Mexico, one...
...He also created OSX, an oil services company to build equipment and platforms; MPX, an energy company; and CCX, a Colombian coal company....
...Temasek already owns a range of energy and natural resources assets and in April joined with RRJ Capital, a private equity group owned by Malaysian businessman Richard Ong, to buy a stake in Kunlun Energy...
...Sources: Roubini Global Economics, Future Events News Service and Thomson Reuters Monday, May 21 Russia’s cabinet to be announced Yulia Tymoshenko, jailed Ukrainian opposition leader, back in court on embezzlement...
...Hurricanes, which last inflicted major damage on the hydrocarbon-rich Gulf of Mexico coast in 2008, are less of a factor as production is mainly inland....
...Weekend headlines from the FT and other UK media:* From The FT, - The US government is holding the first sale of oil leases in the Gulf of Mexico since last year’s Deepwater Horizon disaster - Norilsk...
...BP’s calamity in the Gulf of Mexico so dominates the oil industry outlook that other developments can be obscured. An Anglo-Norwegian merger in the oilfield services sector is one....
...The relevant regulator’s name has also been changed from the Minerals Management Service to the Bureau of Ocean Energy Management, Regulation and Enforcement, with several changes made to key personnel within...
...They also sought to diversify the economic base with energy-intensive downstream industries, financial services and tourism....
...Liquefied natural gas will make up 19 per cent of the energy majors’ total production by 2020, up from only 6 per cent today, according to a report from Sanford Bernstein, a financial services company, this...
...Retail investors took profits in Centurion Energy, down 7.2 per cent to 417½p in light trading....
...Mr Zok said: “Our broad prospects are to look at Africa and south-east Asia. We want to have the best assets in each emerging market.”...
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