Oil and Gas News

June 26, 2014

Global benefit of storing emergency oil outweighs costs, IEA finds
Paris (UPI) Jun 25, 2013
A study from the International Energy Agency in Paris finds that storing oil in emergency stockpiles does more than support energy security. The 29 members of the IEA are mandated to hold enough oil in emergency stockpiles to meet 90 days worth of imports. A report published Wednesday finds those stocks not only help support energy security for member states but also save them money. The review "valued the stockpiles' global benefits over 30 years at about $3.5 trillion." At the e ... read more

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Senate leader says U.S. oil export policies out of date Though some petroleum products can leave U.S. ports, a ban on crude oil exports is outdated, the top Republican on the Senate Energy Committee said. ... more		Dalrymple: Pipeline capacity keeping relative pace with Bakken Crude oil pipeline capacity in North Dakota is keeping relative pace with production levels, the state's governor, Jack Dalrymple, said. ... more		Put South Stream gas pipeline on hold, EU tells Russia The European Commission has concerns about how Russia's planned South Stream gas pipeline conforms to European rules, the energy commissioner said Wednesday. ... more
				Shale economic gains spreading, analyst says The economic impact of increased U.S. oil and gas output has spread beyond states hosting shale reserve areas, the vice chairman of consultant group IHS said. ... more		Iran considers investments needed for small-scale LNG There's been some interest in supporting a fledgling liquefied natural gas industry in Iran, the country's deputy petroleum minister said. ... more

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Italian energy company Eni expresses 'great interest' in Algeria Italian energy company Eni said Wednesday it secured the rights to drill in three areas in Algeria from state energy company Sonatrach. ... more		Militants take control of Iraq's largest oil refinery Islamist militants in Iraq have taken full control of the largest oil refinery in the country, though the government said Tuesday the claims are false. ... more		NASA ISRO radar satellite beams first Earth images from space Morocco High Atlas whistle language strives for survival China warns Papua New Guinea over Australian defence deal		Gas flows through damaged Ukrainian pipeline set for July A natural gas pipeline damaged in an explosion last week in Ukraine should resume operations in early July, Ukrainian energy company Naftogaz said Tuesday. ... more
				Diamonds are an oil's best friend mixture of diamond nanoparticles and mineral oil easily outperforms other types of fluid created for heat-transfer applications, according to new research by Rice University. Rice scientists m ... more		Labor issues force halt to oil work in Yemen Norwegian oil and gas operation DNO ASA said Tuesday it suspended operations in parts of Yemen because of blockades by local groups. ... more

Startup in the Land of the Rising Sun; A Japanese Solar Venture - by Bradley L. Bartz

Spanish energy company Repsol makes giant Russian oil discoveries Spanish energy company Repsol said two oil discoveries in Russia are the largest made in the country in the last two years. ... more		OPEC offers assurances oil markets are stable The global oil market is well supplied and there's sufficient output from OPEC members despite regional tensions, the organization said Tuesday. ... more		Collision of equal sized bodies may explain Mercurys unique composition Gravitino emerges as contender in dark matter search Molecular 'fossils' offer microscopic clues to the origins of life - but they take care to interpret		Austrian energy company OMV expects South Stream gas by 2106 Austrian energy company OMV said Tuesday it expects to see the first deliveries of natural gas from Russia's planned South Stream pipeline by the end of 2016. ... more
Tanker loaded with Libyan crude finds its way to global market A tanker loaded with Libya crude oil from the Elephant field is the first to leave port since operations resumed June 16, maritime data show. ... more		Kenya could find energy relief through domestic reserves, company says Tapping into indigenous gas resources may offer Kenya a more cost-effective solution to energy security, energy company Africa Oil Corp. said Tuesday. ... more		Hungarian energy company MOL sees good chance of oil success at home Hungarian energy company MOL announced it secured an agreement with the government in Budapest to start exploring for oil in the country. ... more		N. Zealand PM says rare dolphin oil fears 'mumbo jumbo' New Zealand Prime Minister John Key on Tuesday dismissed concerns about allowing oil exploration in waters set aside to protect the world's rarest dolphin as "mumbo jumbo". ... more

	Russia and Serbia reaffirm need to implement South Stream project Leaders of Russia and Serbia reaffirm the need to implement the South Stream project, the Russia's Foreign Minister Sergei Lavrov said. The agreements between Moscow and Belgrade regarding the timel ... more		Russia sees no evidence of gas theft in Ukraine There's no evidence to suggest Russian natural gas bound for Europe was siphoned off during transit through Ukraine, the Russian Energy Ministry said Monday. ... more

EU states to hold talks on 'drone wall' to protect bloc

Denmark military intel fails to identify source of drone flights

Lithuania eases rules on shooting down drones

Nine tankers loaded with oil slip track in Russia		BP oil spill slows swimming speed of juvenile mahi-mahi		Lundin verifying petroleum potential in Luno II area of North Sea		Iran says it can step in should Iraqi oil sector falter		French company GDF Suez signs LNG agreement in Indonesia
Vietnam issues request to China to move oil rig and escort vessels		British energy body says safety could be better offshore		Russian minister said using energy for political gain a bad move		House leaders says gas prices would drop through their measure		Louisiana gas export terminal clears regulatory milestone

Kurdish oil contracts made on international commercial market basis

Beware ISIL, Iran's Rouhani warns 'petrodollar' states

Russian Arctic: a new promised land for oil giants

Beijing sends more oil rigs to South China Sea

China to relocate some workers in oil supplier Iraq: ministry

Latest gas find is at least of 3 trillion cubic feet

Philippines seeks speedy UN ruling on China sea dispute

EIA says year-on-year oil imports down for U.S., though weekly levels up

Santos, GDF Suez back to drawing board for Australian gas

Ireland readies for 2015 offshore licensing round

Gazprom says first welds for Chinese gas pipeline expected by August

Canada sees good progress in safety for crude oil transport by rail

Water used in oil recovery in North Dakota spilled

China, Vietnam work to resolve oil and maritime disputes

China and U.K. 'stand united' on energy security, minister says

Canada approves pipeline to Pacific Ocean, with conditions

Irish government increases taxes on oil exploration and production

North Dakota oil production reaches milestone with 1,001,149 bpd

US sees no 'major disruption' to Iraqi oil supplies

Russian power sector needs focus, IEA says

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