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Oil & Gas

Russia softens Ukraine gas price stance ahead of talks

29/06/2015

Russia proposes keeping the gas price for Ukraine unchanged in the third quarter, Prime Minister Dmitry Medvedev said on Monday, a day before Russia's energy minister goes to Vienna for gas talks. "Despite all the difficulties in our current relations with Ukraine, we should within reason make concessions," Medvedev told Energy Minister Alexander Novak and Gazprom Chief Executive Alexei Miller. Gazprom had said Ukraine would be charged $287 per 1,000 cubic metres with no discount in the third quarter. That compares to the $247 charged in the second quarter, including a discount of $100 per 1,000 cubic metres.

Oil & Gas

Cuadrilla decision puts frackers on back foot

29/06/2015

The rejection of fracking schemes in Lancashire comes as a significant blow to the Government’s bid to go “all out” for shale. Environmental campaigners and local opponents of two schemes to drill and frack for shale gas between Blackpool and Preston were cheered last week when Lancashire county councillors turned down one scheme at Roseacre Wood over traffic concerns.

Oil & Gas

Councillors reject Cuadrilla fracking plans on ‘unacceptable impact’

29/06/2015

County councillors have turned down plans to frack for shale gas in Lancashire. Councillors refused the application because they considered the development would cause an unacceptable impact on the landscape and visual amenities, in contrary to the Fylde Local Plan. Following the outcome, Friends of the Earth North West campaigner Furqan Naeem said: “People in Lancashire and across the UK who have been tirelessly campaigning against fracking will breathe a sigh of relief today - safe in the knowledge that this dirty industry that risks health, quality of life and the climate has been stopped in its tracks once again.

Oil & Gas

Islamic State bombers hit Syrian city, oil tanks on fire

29/06/2015

Islamic State suicide bombers blew up two trucks in the heart of the northeastern Syrian city of Hasaka and a fire erupted at petroleum storage tanks and a textile firm after shelling by the militants, a Syrian army source said on Monday. The army source was quoted by state television as saying the militants had targeted a major roundabout and near a mosque in the southeastern Ghwyran neighbourhood, a residential area that the militants entered since Thursday in a lighting assault to seize the government-held parts of the city.

Oil & Gas

Japan May LNG average import price hits lowest since 2009

29/06/2015

Japan's average price for imported liquefied natural gas (LNG) fell to its lowest since September 2009, dragged down by declining oil markets, offering relief to the countries' utilities which had been burning record amounts of the fuel after the Fukushima disaster. LNG import prices averaged $8.84 per million British thermal units (mmBtu) in May, the lowest since $8.28 in September 2009, Reuters calculations based on finance ministry data showed on Monday.

Oil & Gas

Cuadrilla fracking decision expected today

29/06/2015

Councillors are finally expected to rule today whether fracking can go ahead in Lancashire. Energy firm Cuadrilla wants to explore for shale gas by drilling, hydraulically fracking and testing the flow of gas at site near Little Plumpton between Preston and Blackpool. Planning officers have recommended the plans should be passed subject to a number of conditions being met such as controlling time limits, hours of working, control of noise and highway matters.

North Sea

Major milestone for North Sea Clair Ridge project

26/06/2015

BP’s £4.5billion North Sea Clair Ridge project, which is expected to keep the UK producing oil beyond 2050, has taken a giant leap forward. Three huge topside modules have been installed on the “quarters and utilities” (QU) platform following their long journey from a shipyard in South Korea. They were safely lifted onto pre-installed jackets by the Heerema Thialf deepwater construction vessel.

Australasia

GE signs first deal after Australia passes clean-energy target

25/06/2015

General Electric Co. agreed to help develop a A$450 million ($348 million) wind farm in Australia, spurred by parliament’s approval of a new renewable energy target. GE will supply turbines to the 240-megawatt Ararat wind farm in the state of Victoria that’s being developed with partners including Renewable Energy Systems Ltd., according to a statement from the companies. The development is expected to become the nation’s third-largest wind farm.

Oil & Gas

Cuadrilla frack refusal unreasonable says lawyer

25/06/2015

Rejecting an application for fracking because of its visual and landscape impacts would be “unreasonable” in planning terms, councillors have been advised. A decision on energy firm Cuadrilla’s bid to explore for shale gas at a site between Preston and Blackpool was deferred yesterday until Monday to consider legal advice in writing. Councillors were previously given verbal legal advice over a motion to refuse the scheme because it did not meet the county’s minerals and waste local plan.

Oil & Gas

Petrobras tries to halt investor suits as bribery probe widens

25/06/2015

Petroleo Brasileiro SA is heading into a Manhattan courtroom Thursday to ask a judge to throw out investor lawsuits triggered by the multibillion-dollar bribery scandal that’s rocking Brazil’s economy and its political elite. Less than a week after police detained the chief executives of Brazil’s two biggest builders in connection with the kickback probe, the state-owned energy giant is asking that the investor cases be dismissed, saying it was swindled by renegade employees who traded construction contracts for payoffs.

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