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Romanian government expected to raise royalties in 2015

05/13/2014

Romania’s current royalty rates range between 3.5% and 13% (averaging between 7% and 8%), and this number is likely to increase in 2015.

House panel’s Republicans seek information about DOE’s SPR management

05/13/2014

US House Energy and Commerce Committee Republican leaders requested a meeting with US Sec. of Energy Ernest J. Moniz and other appropriate officials concerning management of the US Strategic Petroleum Reserve as the summer driving season approaches.

Senators to Obama: Exercise restraint on LNG exports

05/13/2014

A bipartisan group of 22 US senators, led by Energy and Natural Resources Committee member Debbie Stabenow (D-Mich.) and Foreign Relations Committee member Edward J. Markey (D-Mass.), urged US President Barack Obama to consider possible impacts on American manufacturing and families that rely on natural gas for heat when looking to approve new LNG export facilities.

MARKET WATCH: Crude oil futures up on Russia-Ukraine uncertainty

05/13/2014

Crude oil futures prices climbed on the New York and London markets on May 12 upon concerns that additional Western sanctions against Russia could hinder the volume of Russia’s oil exports. Crude markets have been volatile since Ukraine’s Crimea region annexed to Russia earlier this year.

Petrobras starts production from Platform P-62 in Roncador field

05/12/2014

Brazil’s Petroleo Brasileiro SA (Petrobras) has started production from Platform P-62 in the Campos basin’s Roncador field.

Jonah Energy completes $1.8 billion purchase of Jonah field assets

05/12/2014

Jonah Energy LLC, a Denver-based TPG Capital affiliate, has completed the acquisition of Jonah field operations in Sublette County, Wyo., from Encana Oil & Gas Inc., a wholly owned subsidiary of Encana Corp., for $1.8 billion, effective Dec. 1, 2013.

South Stream expects first gas from Russia to Bulgaria in late 2015

05/12/2014

Pipelay for South Stream Line 2 will begin in mid-2015, with first natural gas flow from Line 1 following later that year. Trond Gjedrem, materials manager for South Stream Transport BV, made these remarks May 12 at the Pipeline Technology Conference in Berlin, despite the European Parliament having voted last month that South Stream should not be built.

Statoil farms out more interest offshore Angola

05/12/2014

Statoil ASA has farmed out 5% participating interest in the Eni SPA-operated Block 15/06 offshore Angola to Sonangol EP for $200 million.

MARKET WATCH: Crude oil futures down in New York, London

05/12/2014

The New York Mercantile Exchange June crude oil contract price declined 27¢ on May 9, closing at $99.99/bbl. The July contract dropped 23¢ to settle at $99.31/bbl.

Statoil completes observation well in eastern Gimle field

05/12/2014

Statoil Petroleum AS has completed drilling an observation well on the eastern flank of Gimle field, the Norwegian Petroleum Directorate reported.

RIL, partners press India over gas price

05/12/2014

Reliance Industries Ltd. and partners have issued a notice of arbitration seeking action by the government of India on the price of natural gas produced from the deepwater KG-D6 block in the Bay of Bengal.

Lundin plans further testing of appraisal well in Edvard Grieg field

05/12/2014

Lundin Norway AS plans further testing of an appraisal well with results described as “encouraging” for reservoir quality in the southeastern part of Edvard Grieg oil field offshore Norway.

Petrobras starts oil production from Lula field

05/12/2014

Petroleo Brasileiro SA (Petrobras) has started oil production from well 7-LL-22D-RJS in the Santos basin’s presalt Lula field.

Turkmenistan lets contract for petrochemical complex

05/12/2014

State-owned TurkmenGaz has let an $800 million contract to a consortium of engineering firms led by Toyo Engineering Corp. for the construction of a gas chemical complex in the Turkmenbashi district of Balkan Province in western Turkmenistan.

Trans Adriatic Pipeline takes onshore step

05/12/2014

Trans Adriatic Pipeline (TAP) has issued a prequalification notice with the European Union for an engineering, procurement, and construction contract covering onshore work in Greece and Albania.

GAO report lists ways BLM could improve onshore resource oversight

05/12/2014

Updated guidance, increased coordination, and comprehensive data could improve the US Bureau of Land Management’s oversight of federal onshore oil and gas resources, the Government Accountability Office said in a report it released on May 9.

Neste Oil shutters Porvoo refinery unit for repairs

05/12/2014

Neste Oil Corp. has shuttered one of four production lines for repairs at its 205,000-b/d Porvoo, refinery in the Kilpilahti Industrial Area, about 20 miles east of Helsinki, Finland.

In official assault on fossil energy, tactics vary by fuel

05/09/2014

An Executive Branch campaign against fossil energy applies different tactics to specific fuels.

Baker Hughes: US drilling rig count edges up to 1,855

05/09/2014

The US drilling rig count edged up a unit to 1,855 rigs working during the week ended May 9, Baker Hughes Inc. reported.

Petrobras completes exploration well in TOR area of Santos basin

05/09/2014

Brazil’s state-owned Petroleo Brasileiro SA (Petrobras) reported that it has completed drilling the last exploration well in the Transfer of Rights (TOR) area in the Santos basin presalt.

EPA will seek comments on disclosing frac fluid ingredients

05/09/2014

The US Environmental Protection Agency announced it will seek public comment on what information could be reported and disclosed for hydraulic fracturing chemicals and mixtures and the approaches for obtaining this information.

EIA estimates average Eagle Ford EUR at 168,000 bbl/well

05/09/2014

The average estimated ultimate recovery (EUR) of wells drilled during 2008-13 in the Eagle Ford shale in South Texas was 168,000 bbl/well, according to the US Energy Information Administration.

Cairn India interim chief executive officer resigns

05/09/2014

Cairn India Ltd. reported on May 2 that P. Elango, interim chief executive officer, has resigned for personal reasons.

MARKET WATCH: Crude oil futures price down, but stays above $100/bbl benchmark

05/09/2014

The New York Mercantile Exchange June crude oil contract price fell 51¢ on May 8, closing at $100.26/bbl. The July contract declined 42¢ to settle at $99.54/bbl.

Lukoil Overseas reports three fatalities in helicopter crash off Ghana

05/09/2014

Lukoil Overseas reported that a helicopter on contract to the company and operated by the local airline carrier crashed on May 8 in coastal waters offshore Ghana about 3.4 nautical miles from Takoradi.

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