Oil Headlines - 13 October 2011

4 major oil companies join in $7.1 billion investment in developing North Sea ... Washington Post (blog) By AP, LONDON — Four oil companies say they have won British government approval for a 4.5 billion pound ($7.1 billion) investment in developing a major oil field in the North Sea. BP, Shell, ConocoPhillips and Chevron are partners in the plan to ...

BP, 2 other companies cited over Gulf oil spill Seattle Post Intelligencer MICHAEL KUNZELMAN, AP NEW ORLEANS (AP) — Federal regulators on Wednesday cited oil company BP PLC and two other companies — Transocean Ltd. and Halliburton — for alleged safety and environmental violations stemming from last year's rig explosion and ...

Linc Plans More Oil Acquisitions on Strong Australian Dollar BusinessWeek Linc aims to double production at the ERG fields in Texas and Louisiana within two years to more than 6000 barrels of oil equivalent a day, Bond said. The company may add as much as 6000 barrels a day of crude output with another Gulf area purchase, ...

Will Saudis Play Oil Card To Revenge Iranian Plot? NPR But Saudi Arabia may want to respond to Iran in its own way, and its weapon could be oil. Iran and Saudi Arabia for decades have been rivals in the Muslim world — Iran as the protector of Shia Muslims, Saudi Arabia as the preeminent Sunni power. ...

Oil Executive Promotes Shale Gas to Europeans New York Times “By 2030, Europeans are expected to be significantly more reliant on imports of natural gas than they are today,” Mr. Swiger said in London at the Oil and Money conference, which is jointly organized by The International Herald Tribune and Energy ...

Chinese state oil firm eyes investments in Brazil's pre-salt Fox News Sao Paulo – A subsidiary of state-owned China National Petroleum Corporation has begun talks on developing deposits in an oil-rich region off the coast of the Brazilian state of Sao Paulo, the media reported Wednesday. The vice president of CNPC ...

UPDATE 1-China Sept crude imports down 12 pct on yr, edge up from Aug Reuters BEIJING, Oct 13 (Reuters) - China's September crude oil imports fell 12.2 percent on a daily basis from a record high rate a year earlier and stood below a 5.0 million bpd mark for the fourth consecutive month. Customs data showed on Thursday that ...

Oil Ministry allocates 7.23 mmscmd of ONGC gas to power, fertilizer units The Hindu The Oil Ministry has allocated 7.23 million standard cubic metres per day (mmscmd) of natural gas from State-owned Oil and Natural Gas Corp's (ONGC) fields to power and fertilizer firms, including Reliance Infra, NTPC and National Fertilisers Ltd. “The ...

Oil-Dri Announces Fourth Quarter and Fiscal Year 2011 Results MarketWatch (press release) CHICAGO, IL, Oct 12, 2011 (MARKETWIRE via COMTEX) -- Oil-Dri Corporation of America /quotes/zigman/1474339/quotes/nls/odc ODC +2.33% today announced net sales of $226755000 for the fiscal year ended July 31, 2011, a 4% increase compared with net sales ...

ONGC Videsh Limited buys 25% in kazakh oil block Economic Times NEW DELHI: ONGC Videsh, the foreign arm of state-run explorer Oil and Natural Gas Corp, has acquired 25% stake in the highly prospective Satpayev exploration block in Kazakhstan, which can produce close to 300000 barrels per day. ...

Why Big Oil Will Pump Out Big Earnings TheStreet.com As complex as these companies are, the price of a barrel of crude oil is still the most important input to their earnings results and therefore has the biggest impact on their stock prices. It is no wonder that these mega-cap oil companies' share ...

Arrival of Cuba offshore oil rig delayed again Reuters By Jeff Franks HAVANA, Oct 12 (Reuters) - The arrival of a Chinese-built drilling rig set to explore for oil in Cuban waters has been delayed again and is not expected to reach the island until the second half of December, sources close to the project ...

General Electric Invests in Oil and Gas Midstream Provider Summit Midstream Financial News Network Online GE (NYSE:GE) unit Energy Financial Services is investing in Summit Midstream Partners, which acquires and develops midstream energy infrastructure in unconventional North American basins. Summit's Barnett asset, DFW midstream, is a large gas gathering ...

Study: FDA Allowed Unsafe Levels of Chemicals in Seafood After BP Oil Spill Fox News AP June 6: A small oil-covered fish lies on the water's surface at Bay Long off the coast of Louisiana. The Food and Drug Administration allowed unsafe levels of contaminants in seafood after the BP oil spill in 2010, according to a new study. ...

Ugandan president denies oil bribery claims AFP KAMPALA — Ugandan President Yoweri Museveni rejected corruption claims Wednesday after lawmakers put a freeze on new oil contracts over claims that government ministers accepted bribes for tenders. "I have never been given any money by anybody," the ...

Oil company finds no leaks in N. Idaho pipeline Seattle Post Intelligencer CATALDO, Idaho (AP) — Oil company ConocoPhillips has restarted a gasoline pipeline that runs across northern Idaho after a series of tests confirmed the line's integrity. The company spent more than a week to determine if a leak was the cause of a ...

Oil and gas holds safety summit Wyoming Business Report By Tim Monroe CASPER — The annual Safety Summit hosted by the Wyoming Oil and Gas Industry Safety Alliance (WOGISA) took place in Casper today. Nearly 300 oil and gas industry employees and those from allied organizations met to review progress toward ...

Owner: 20 Sailors on Tanker Seized off Nigeria ABC News By YINKA IBUKUN AP Twenty Eastern European sailors have been captured by pirates who seized an oil tanker off the coast of Nigeria, the vessel's owner said Wednesday. The MT Cape Bird, hijacked about 90 nautical miles from Lagos on Saturday night, ...

New Western Texas Oil and Gas Corp. Acquires the Reves Lease to Expand Oil and ... MarketWatch (press release) /quotes/zigman/4002529 NWTR 0.00% , an independent energy company engaged in the development, production and exploration of oil, gas and other minerals in North America, today announced the Company's wholly owned subsidiary, New Western Texas Oil and ...

Northern Oil & Gas, Inc. Announces Addition of New General Counsel MarketWatch (press release) James R. Sankovitz, who has served as the company's Chief Operating Officer, General Counsel and Secretary, will continue to serve as Northern Oil's Chief Operating Officer and oversee all day-to-day operations of the company. ...

Oil pipeline will likely come through Rockwall Rockwall County Herald Banner The connection - named the Wrangler Pipeline - will create an open tube from Embridge's crude oil terminal in Cushing, Okla. to the ECHO terminal south of Houston. An eventual connection to Port Arthur, is also being planned. ...

Crude-Oil Volatility Declines as IEA Trims Demand Forecast BusinessWeek By Justin Doom Oct. 12 (Bloomberg) -- Oil options volatility fell as the underlying futures fluctuated after the International Energy Agency cut its 2012 global oil-demand forecast. Implied volatility for at-the-money options expiring in December, ...

Delek US Holdings buys rest of Lion Oil for $13M BusinessWeek Delek US Holdings Inc. said Tuesday that it has acquired the 11.7 percent stake in Lion Oil Co. it did not already own from a group of private investors for about $13 million. The purchase will be funded through a combination of cash and debt. ...

FACTBOX-Companies drilling in Ohio's Utica shale Reuters Oct 12 (Reuters) - Oil companies are scrambling to drill in the Utica shale, a new, unconventional oil hub in eastern Ohio that some say has more potential than other US shale plays. Eight companies have started seeking cheap, domestic oil in the ...

La. lawmakers meet with top drilling regulator BusinessWeek Two members of Louisiana's congressional delegation met Tuesday with a top Interior Department official to express concerns about the Obama administration's regulation of the offshore drilling industry after the Gulf oil spill. Sen. ...