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Iraq To Hold New Oil, Gas Exploration Bid Round 4Q

Iraq To Hold New Oil, Gas Exploration Bid Round 4Q

The Iraqi government plans to hold a new oil and gas licensing auction later this year as it seeks a major push to increase oil output and to capture natural gas for electricity generation, a senior Iraqi oil official said.

Exxon Mobil Corporation Announces 2010 Reserves Replacement

Exxon Mobil Corporation Announces 2010 Reserves Replacement

Exxon Mobil Corporation announced today that additions to its proved reserves in 2010 totaled 3.5 billion oil-equivalent barrels, replacing 209 percent of production. Excluding the impact of asset sales, reserves additions replaced 211 percent of production.

Siemens To Invest Millions Of Dollars In Saudi Arabia

Siemens To Invest Millions Of Dollars In Saudi Arabia

German industrial conglomerate Siemens AG (SI) said Tuesday it plans to invest hundreds of millions of dollars in building a gas turbine manufacturing and repair facility in Saudi Arabia.

Noble Energy $750 Mln 30-Year Bond On Tap

Noble Energy $750 Mln 30-Year Bond On Tap

Noble Energy Inc. (NBL) said Tuesday it would be offering a new 30-year bond. The $750 million senior unsecured issue is expected to be sold later this session via active bookrunners Barclays and Bank of America Merrill Lynch (BAC). It will include a make-whole call option, with final maturity slated for March 1, 2041.

Chinas Coal Imports Set Records in Month, Year

Chinas Coal Imports Set Records in Month, Year

China's coal imports hit a record 17.3mn metric tonnes in December, up 25pc from November on higher volumes from Vietnam, Australia and Indonesia.

Azerbaijan Looks to Double Gas Output

Azerbaijan Looks to Double Gas Output

Azerbaijan may double its current gas output to up to 52 billion cubic metres by 2020 after finding a major new gas deposit last year, Deputy Energy Minister Natik Abbasov was reported as saying today.

Iran And Turkey Determined To Strengthen Ties - Ahmadinejad

Iran And Turkey Determined To Strengthen Ties - Ahmadinejad

Iran and Turkey are determined to boost their political and economic ties, Iranian President Mahmoud Ahmadinejad told a joint press conference Monday with his visiting Turkish counterpart, Abdullah Gul.

Rosneft Discovers Two New Oil Fields In Siberia

Rosneft Discovers Two New Oil Fields In Siberia

Russian oil producer OAO Rosneft (ROSN.RS) has discovered two new oil and gas fields in Siberia with recoverable reserves of around 80 million metric tons each, the company said Monday.

Iraq To Sign Akkas Gas Field Deal Feb 22-24

Iraq To Sign Akkas Gas Field Deal Feb 22-24

Iraq expects to sign an agreement for the Akkas natural gas field next week after clearing some demands that led to the deal being postponed at the last minute in November, a senior Iraqi Oil Ministry official said Monday.

Iraq To Up Export Capacity By 900,000 B/D This Year

Iraq To Up Export Capacity By 900,000 B/D This Year

Iraq will be able to raise its crude oil export capacity by 900,000 barrels a day by the end of this year, bringing its total export capacity to around 3 million barrels a day, the country's deputy oil minister said Monday.

White House Looks To Repeal $4B In Oil Industry Tax Breaks

White House Looks To Repeal $4B In Oil Industry Tax Breaks

The Obama administration is looking to eliminate about $4 billion in tax breaks for the oil and gas industry in 2012, hoping to raise revenue to offset the costs of clean and renewable energy projects.

WTI Irrelevant; Brent Better For Forecasting

WTI Irrelevant; Brent Better For Forecasting

Raymond James calls West Texas Intermediate "essentially irrelevant" as a crude-price benchmark and crowns Brent the new king of crude oil. The WTI inventory hub in Cushing, Okla., is bottlenecked, causing stocks to rise and depressing prices.

Gazprom Sees 2011 Europe Exports 151.5 BCM -Analyst

Gazprom Sees 2011 Europe Exports 151.5 BCM -Analyst

Russia's OAO Gazprom (GAZP.RS), the world's biggest producer of natural gas, said Friday it plans to export 151.5 billion cubic meters of gas to Europe in 2011, an analyst attending the company's investor day meeting told Dow Jones Newswires.

Total: Happy To Partner EDF On Intl Nuclear Projects

Total: Happy To Partner EDF On Intl Nuclear Projects

French oil major Total SA (TOT) would be happy to partner with French state-controlled power giant Electricite de France SA (EDF.FR) on international nuclear projects, Total's head of gas and power division Philippe Boisseau said Friday.

Brent Rises $1/Bbl Amid Tension In Middle East

Brent Rises $1/Bbl Amid Tension In Middle East

Oil futures continue to strengthen as tensions in the Middle East dominate market sentiments Friday. Front-month Brent rises more than a dollar to the intra-day high of $101.95/bbl as traders mull the consequence of Egypt's President's decision to stay in office until September.

TNK-BP Board To Examine BP Proposal On Rosneft Deal - Report

TNK-BP Board To Examine BP Proposal On Rosneft Deal - Report

The board of Anglo-Russian oil joint venture TNK-BP Ltd. will examine information from BP PLC (BP) regarding its alliance with OAO Rosneft (ROSN.RS) at a meeting on Feb. 18, the Interfax news agency reports Friday, citing TNK-BP Deputy Chief Executive Maxim Barsky.