Energy

The board of Dana Petroleum, the London-listed oil company, has capitulated to shareholder demands and agreed to meet representatives of the South Korean national oil company next week.

BP would be blocked from winning future drilling permits in the US because of its safety record under energy legislation passed by the House of Representatives

Credit Suisse, Goldman Sachs and Mediobanca to list minority stake in renewable energy unit

July 30,2010 --

Westmont Resources Inc. has completed an agreement to acquire 92 wells in Tennessee’s Chattanooga shale region, currently operated by AG Oil & Gas, a division of Domestic Energy Corp.

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July 30,2010 --

Williams Partners LP plans to expand its cryogenic processing capacity in the Piceance basin, the partnership announced July 29 as part of its second-quarter 2010 earnings release.

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July 30,2010 --

US Sen. Mark Begich (R-Alas.) proposed extending the Regional Citizens Advisory Council concept to the Arctic as an alternative to continued legal challenges of offshore oil and gas activities in northern Alaska.

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July 30,2010 --

European Union foreign ministers adopted extra sanctions on Iran, in particular targeting investment in the country’s oil and gas industries, as well as curtailing its refining and natural gas capabilities.

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July 30,2010 --

Natural gas reserves off New Guinea are the target of a cooperative development agreement by DSME E&R, Hoegh LNG Ltd., and New Guinea’s state-owned Petromin PNG Holdings Ltd.

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July 30,2010 --

Indonesia’s state-owned PT Pertamina and Kuwait Petroleum Corp. plan to invest $9 billion in a joint venture 300,000 b/d refinery in Balongan, West Java.

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July 30,2010 --

China has rejected an assessment by the International Energy Agency that it had overtaken the US to become the world's top energy consumer.

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Asia's wealthiest man is to buy the UK electricity distribution business of France's EDF for £5.8bn in what is set to be the biggest European investment by Hong Kong companies on record

BP's quiet American, who has become the oil company's new chief executive, is a reassuring presence who has much reassuring to do

South Korea's national oil company has sent a letter to Dana Petroleum proving it has the financial firepower to fund a £1.7bn takeover of the London-listed rival.

July 30,2010 --

US drilling activity increased with the addition of 1 rig, bringing the total working units to 1,586, up from 948 in the comparable period a year ago, Baker Hughes Inc. reported.

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Chevron said that the moratorium on deep-water drilling in the Gulf of Mexico following the leak from the Deepwater Horizon well had significantly affected its exploration programme and would lead to lost production this year

Chevron said that the moratorium on deep-water drilling in the Gulf of Mexico following the leak from the Deepwater Horizon well had significantly affected its exploration programme and would lead to lost production this year

Bob Dudley, BP's incoming chief executive, will fly to Moscow to meet shareholders in its Russian joint venture TNK-BP, a visit that will underscore a thawing in relations between the two companies

Bob Dudley, BP's incoming chief executive, will fly to Moscow to meet shareholders in its Russian joint venture TNK-BP, a visit that will underscore a thawing in relations between the two companies

July 30,2010 --

Crude oil prices rallied for the commodity’s first positive finish of the week “despite the down market,” said analysts in the Houston office of Raymond James & Associates Inc.

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LI Ka-Shing, Asia's richest man, has bought EDF's British electricity network business for £5.8bn in a deal that will see its £500m pension deficit for UK workers reduced by a quarter.