Sunday, 16 October 2011

Oil Headlines - 16 October 2011

China paper warns India off Vietnam oil deal
Reuters
BEIJING Oct 16 (Reuters) - India is playing with fire by agreeing to explore for oil with Vietnam in the disputed South China Sea, a major Chinese newspaper said on Sunday, advising the Indian company to reconsider and pull out. ...
Parliament, Museveni in battle over oil deals
East African
An oil rig prepares to drill in western Uganda near the shores of Lake Albert. Last week, parliament slapped a moratorium on the execution of oil contracts and transactions in the oil sector until the necessary laws governing the sector have been ...

Keystone Pipeline: Would oil be consumed in the US or exported?
Billings Gazette
HELENA — A big selling point for the Keystone XL pipeline is that its billions of barrels of Canadian crude oil would provide "energy security" for the United States, giving the country a long-term, reliable supply of petroleum from a friendly ally. ...
Gabon oil union says talks with govt ended, threatens
Reuters Africa
LIBREVILLE (Reuters) - Gabon's main oil workers' union said on Saturday that talks with the government had broken down and it would lodge a strike notice with the government on Monday. Guy-Roger Aurat Reteno, secretary-general of ONEP, which represents ...
Oil flows again in Libya, but challenges remain
Channel News Asia
LONDON: Libyan oil production has resumed more quickly than expected, but the country still has enormous political and technical obstacles to surmount before the situation returns to normal, experts said. "The market should be ready for Libyan crude," ...
Iran May Start Exporting Jet Fuel to Neighbors, Asia, Fars Says
BusinessWeek
By Ladane Nasseri Oct. 16 (Bloomberg) -- Iran will "soon" start exporting aviation fuel processed at its Bandar Abbas refinery in the country's south, Fars reported, citing an Oil Ministry official. Several East Asian countries have shown interest in ...
Dubai-based oil retailer Enoc expects loss of Dh2.7b in 2011
gulfnews.com
By Himendra Mohan Kumar, Staff Reporter Abu Dhabi: Dubai-based oil retailer Emirates National Oil Company (Enoc) said on Saturday the cost of providing subsidised fuel to its customers is expected to lead to a loss of Dh2.7 billion for the company this ...
Qatar Shares Head for Highest in Three Weeks on Earnings, Oil
BusinessWeek
By Zahra Hankir Oct. 16 (Bloomberg) -- Qatar's shares headed for the highest close in more than three weeks on optimism about third- quarter earnings and after oil rallied last week. Industries Qatar QSC, the Middle East's second-biggest petrochemicals ...
Iran suffers under sanctions, faces threat of more
Channel News Asia
TEHRAN: Iran, OPEC's second-biggest oil producer, is threatened with new economic sanctions by US President Barack Obama, who has vowed to make it "pay a price" for an alleged assassination plot in Washington. Western and UN sanctions in force over ...
Oil/Gas Industry find help for Mondak fields at the Bakken Show
Examiner.com
The Bakken Oil Product & Service Show in Williston, North Dakota this week was a little different. It was more like a speed dating site for companies who are in the drilling business to find mates – or other vendors - find scare resources, labor pools, ...
ALEX MILLS: Oil, gas industry upswing hits 20 months
San Angelo Standard Times
By Alex Mills The oil and gas industry in Texas just completed its 20th consecutive month of improved economic activity, according to the Texas Petro Index. Since December 2009, the TPI has improved over the previous month. The December 2009 TPI was ...
Canada's Oil Sands Boondoggle
Huffington Post Canada
Big oil and the government of Canada are making promises that should alarm every citizen. They have declared that the controversial $7-billion Keystone XL pipeline will bring you jobs, economic security and more 'friendly' oil. ...
Oil and gas boom in Texas helps fuel Smith Pipe expansion
ReporterNews.com
Buoyed by an increase in oil and gas exploration, the company now has about 400 workers total, with about 285 in Abilene. Joe Chavez walks through the testing facility where tanks are checked for leaks at the Smith Pipe headquarters. ...
India state oil companies to cut jet-fuel prices
MarketWatch
By Eric Yep MUMBAI -(MarketWatch)- India's state-run oil companies will lower jet fuel prices by about 0.5% for the fortnight beginning Sunday, an oil ministry official said Saturday. Indian fuel retailers will raise jet fuel prices to INR58,271 ...