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| | | Week of July 11 - 16, 2011 | Forward this Newsletter | 
Industry Headlines [United States] -- ConocoPhillips has approved pursuing the separation of the co's Refining & Marketing and Exploration & Production businesses into two stand-alone, publicly traded corporations. [Gulf of Mexico] -- Almost 190,000 new jobs could be created in 2013 if permitting in the GOM for offshore development returned to levels before the Obama admin.'s moratorium. [North Sea] -- On behalf of its co-venturers BP announced an agreement to progress a major redevelopment of the Schiehallion and Loyal oil fields to the west of the Shetland Islands. [United States] -- The US imported about 49% of the crude oil and refined petroleum products that were consumed during 2010, the US EIA noted in a recent brief on the issue. [United States] -- LSU Economist finds that the Administration's dual capacity and Section 199 Proposals would reduce federal tax revenue by more than $53B. Exploration [Europe & Russia] -- Halliburton has been awarded a contract from Chevron for integrated services for shale natural gas exploration in Poland. [Austral-Asia] -- Lundin has discovered gas in the Tarap-1 well that was drilled in Block SB303, offshore Sabah, East Malaysia. [United States] -- A top Shell executive said he is optimistic the company will be able to drill in Alaska next summer. [Austral-Asia] -- A significant gas flow of up to 2 MMscf/d has been achieved from Beach's Holdfast-1 exploratory shale gas well in the Cooper Basin. [Middle East] -- Lukoil and its partners have awarded a deal to a "known" service company to drill some 23 new wells at Iraq's supergiant West Qurna Phase 2. Production [North Sea] -- BP has evacuated personnel from its Valhall oil platform in the Norwegian sector of the North Sea after a fire erupted Wednesday. [United States] -- The EIA raised its forecast for natural-gas production for 2011, and said inventories are expected to come close to last year's record levels this fall. [Gulf of Mexico] -- Shell has awarded a contract to BMT Scientific Marine Services to provide a MIS to the Olympus TLP in the Mars B Development Project. [Canada] -- IMV Projects has been awarded a 2-year frame agreement by Shell to provide engineering, procurement and project management services to Shell's projects in Western Canada. [North Sea] -- Ithaca announced progress on Athena and Stella Development projects. Company Operations [West Africa] -- Pacific Drilling announced that a letter of Award has been converted to a definitive contract for the Pacific Scirocco. [United States] -- GE Energy announced that Dan Heintzelman, currently CEO of GE Energy Services, has been named CEO of GE Oil & Gas. [North Sea] -- Petrofac announced that its Offshore Engineering & Operations (OE&O) business has been awarded a contract renewal by Marathon. [Austral-Asia] -- Petrofac has signed two memoranda of understanding (MOU) with Petroliam Nasional Berhad (PETRONAS). [United States] -- Magnum Hunter announced the appointment of Mr. Mark H. Wolf as Vice President of Finance for the Company. Finance & Investing [Europe & Russia] -- The Board of Directors of Sevan Marine continues to hold constructive dialogue with bondholders and other relevant parties regarding a global restructuring of the Company's balance sheet. [Southern Asia] -- OMV successfully completed the acquisition of the entire share capital of Petronas' E&P operating entity in Pakistan from PETRONAS. [United States] -- Select Energy Services announced the acquisition of The Western Company of Texas. [Austral-Asia] -- Falcon announced that the Beetaloo Basin Evaluation and Participation Agreement between Falcon and Hess is now in effect and the seismic survey phase of the project will begin once the necessary regulatory permits are finalized. [Europe & Russia] -- Faroe provided an update on the Petoro asset swap deal. |
| O&G Prices  | | Brent Crude Oil : | $118.32/BBL
-0.39% | | Light Crude Oil : | $95.69/BBL
-2.47% | | Natural Gas : | $4.36/MMBtu
-0.92% | | Unleaded Gasoline : | $3.12/gal
-0.96% | | prices from: | 7/14/2011 | | change since: | 7/13/2011 |
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