Oil and gas supplies growing

The nation’s crude oil and gasoline supplies increased last week as refinery capacity rose, the Energy Department said Wednesday.

ATP Oil & Gas has completed the drilling phase of a deep-water well in the Gulf of Mexico, marking another milestone in the slow resumption of work in the Gulf.

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Turkey signs gas deal with Iraq

The state-run Turkish Petroleum Corporation (TPAO) has signed an agreement with Iraq’s petroleum ministry on the operating rights for the Mansuriya and Siba natural gas fields.

Kuwait Energy, the privately owned oil and gas producer, has signed 20-year contracts to develop two gasfields in Iraq.

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Evergreen orders more ships

Des : Taiwan’s Evergreen Group has ordered and signed a contract with China Shipbuilding Corp. for ten 8,000TEU container vessels. The contract, signed by Bronson Hsieh, Evergreen Vice Group Chairman, and Tang Tay-Ping, CSBC Chairman, is for Evergreen’s third order of L-class environmentally advanced vessels and marks the global ocean carrier’s first order from Taiwan’s CSBC since 1997.

Box Ships has taken delivery of the ‘MSC Siena’, a 4,546TEU container vessel built in 2006, from an unaffiliated third party and the ‘CMA CGM Kingfish’, a 5,095TEU container vessel built in 2007 from Paragon Shipping.

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Iran to invest $150Bn. in oil and gas

A top Iranian Oil Ministry official says some 150 billion will be funneled into the country’s upstream oil and gas sector during the Fifth National Development Plan.

A vote in France to ban hydraulic fracturing of oil and gas wells brings new attention to fear as an element in the making of energy policy.

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Shell’s floating LNG

Royal Dutch Shell has taken the final investment decision on the ‘Prelude’ floating liquefied natural gas (FLNG) project in Australia, building the world’s first FLNG facility.

The Golar LNG majority owned Golar LNG Energy has reported a net loss of US$45.5 million and operating loss of $33.3 million for the year ended December 31, 2010, compared to a reported net loss of $2.2 million and operating loss of $1.1 million from first trading August 12, 2009 to December 31, 2009. Revenues in the year were $64.2 million.

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China oil and gas

China criticised Vietnam on Saturday for its offshore exploration of oil and gas in the contested South China Sea after Hanoi complained that three Chinese patrol boats had challenged a Vietnamese ship.

The State Oil Company of Azerbaijan (SOCAR) has commissioned two oil and gas wells on the offshore Guneshli field, shallow part of which is developed by SOCAR at the expense of its own funds, SOCAR said.

In 2010–2011 global economy continued its recovery from the crisis of 2008–2009, contributing to rising energy demand, particularly demand for oil.

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Mississippi floods threaten gas production

Nearly 15% of the nation’s refining capacity and hundreds of oil wells are at risk as the flood crest along the swollen Mississippi river makes its way into Louisiana over the next few days.

Quippo Oil & Gas Infrastructure Limited (QOGIL), promoted by Srei Infrastructure, is planning to start oil and gas exploration at Cambay Basin in Gujarat this financial year.

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Fracking for oil

Large blocks of investors in the two biggest U.S. oil companies on Wednesday demanded more disclosure about the environmental risks of extracting oil and gas through hydraulic fracturing.

Red Rock Energy Inc. announces that it has registered the Company in the province of British Columbia under the name Red Rock Projects Inc. to pursue petroleum and natural gas exploration and production opportunities.

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Andarko and Diamond offshore in drilling deal

Rig contractor Diamond Offshore Drilling Inc said two of its drillships will be contracted to oil and gas producer Anadarko Petroleum Corp for up to $1.8 billion, the latest in a spate of deepwater deals spurred by higher crude oil prices.

The federal government today approved a deep-water drilling blueprint proposed by BHP Billiton, Inc. — the first truly new offshore exploration plan since last year’s Gulf spill to survive stepped-up environmental scrutiny.

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Wild fires shut down oil and gas production

Oil and gas companies were shutting down their operations or thinking about doing so as wild fires continued to wreak havoc in northern Alberta on Monday.

A bid to salvage BP’s Arctic exploration alliance with the Kremlin-controlled oil group Rosneft appeared in the balance after a midnight deadline to complete the deal had passed last night.

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