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News Topics: Govt & Regulatory

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UK Proposes New Tax Allowance for Ultra HP/HT Fields
Wednesday, July 23, 2014 HM Treasury announces a consultation on a new "cluster area allowance" to encourage investment in ultra-high pressure, high temperature oil and gas fields.

EU Says Could Halt Technology for Russia to Develop Arctic Oil, Gas
Wednesday, July 23, 2014 The European Union should not give Russia technical help to develop Arctic oil and gas if Moscow does not help defuse the Ukraine crisis, says EU Energy Commissioner.

Mexican Senate Approves Bulk Of Pending Energy Legislation
Tuesday, July 22, 2014 Mexico's Senate completes approval of the bulk of legislation setting out rules and regulations for President Nieto's opening of the oil and gas market, the cornerstone of his economic agenda.

Paper: Putin Mulls End To Gazprom Monopoly On Pipeline Gas Sales To China
Tuesday, July 22, 2014 Russia's president is thinking about allowing gas producers other than Gazprom to export gas from new eastern fields, according to the Vedomosti newspaper.

Syria Says Crisis Has Cost Its Oil Sector $23.5B
Tuesday, July 22, 2014 Syria's oil sector has lost around $23.5 billion due to damage to facilities and pipelines, looting and production delays since the start of the country's crisis in 2011 and output has fallen sharply.



Gabon Picks Seven Companies For Final Oil Block Talks
Monday, July 21, 2014 Gabon selects seven companies for a final round of negotiations as part of an offshore licensing round the government hopes will reverse a chronic decline in output, the country's oil ministry says.

North Sea Oil, Gas Firms Hold Off on Investment
Friday, July 18, 2014 A Deloitte report shows that drilling activity on the UK Continental Shelf has almost halved in three months while asset deals have also plummeted.

Mexico Senate Gives General Approval To Key Energy Reform Bill
Friday, July 18, 2014 Mexico's Senate gives general approval early to a key bill to regulate the opening of the oil and gas industries to private investment, the centerpiece of President Enrique Pena Nieto's economic reform agenda.

Mubadala Inks Agreement To Help Further Develop Somalia's Petroleum Sector
Friday, July 18, 2014 Mubadala Petroleum inks cooperation agreement with Somalia's Ministry of Petroleum and Mineral Resources to explore ways to further develop the country's petroleum sector.

Russia's Rosneft Says to Honor Agreements despite Sanctions
Friday, July 18, 2014 Russian oil producer Rosneft says it will continue to work on its existing projects and agreements despite US sanctions against the company.

US Approves Plan To Open Atlantic To Oil Reserve Surveys
Friday, July 18, 2014 The Obama admin. approves a plan that would allow companies to assess oil resources off the Atlantic Coast.

BP Says New Sanctions on Russia Appear to Target Access to Markets
Thursday, July 17, 2014 BP studies latest sanctions against Russia over Ukraine and says they appear to focus on restricting access to US debt and equity markets.

APPEA Welcomes Carbon Tax Repeal, Boost for Australian LNG Exporters
Thursday, July 17, 2014 Australia's industry association APPEA welcomes the Australian Senate's vote to repeal the carbon tax as it removes a cost burden for the country's liquefied natural gas exporters.

Australian Parliament Repeals Carbon Tax, Emissions Trading Scheme
Thursday, July 17, 2014 The Australian Senate votes to scrap the country's carbon tax and plans for emissions trading, a major victory for conservative Prime Minister Tony Abbott that leaves uncertainty about how the country will meet its carbon reduction goals.

BOEM to Offer 21 Million Acres in Next GOM Lease Sale
Thursday, July 17, 2014 Western Gulf of Mexico Lease Sale 238 on Aug. 20 will be the sixth offshore sale under the Administration's Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017.

Indian Government Endorsed Cambay Field's Gas Sales Agreement
Wednesday, July 16, 2014 Oilex receives governmental endorsement for gas sale from the Cambay field in Cambay production sharing contract in Gujarat, India.

North Texas City Rejects Partial Fracking Ban
Wednesday, July 16, 2014 The council governing a North Texas city that sits atop a large natgas reserve rejected a bid that would have made it the first city in the state to ban further permitting of fracking in the community.

Tullow To Challenge Ugandan Court Order To Pay $407M Tax Bill
Wednesday, July 16, 2014 Tullow Oil says it planned to challenge a Ugandan tax tribunal decision ordering it to pay a $407 million tax bill in relation to a 2012 sale of oil field stakes.

British Government to Help Fund New Oil Regulator Until 2022
Wednesday, July 16, 2014 UK government announces another $5.1 million per year funding for the country's new oil regulator until 2022.

India Govt Considers Selling $3B Stake In ONGC
Tuesday, July 15, 2014 Indian PM Narendra Modi's government will decide next month on the sale of a stake in ONGC, in a major test of whether he will follow tentative reforms outlined in his first budget with actions.

Hancock Takes Over UK Junior Energy Minister Role
Tuesday, July 15, 2014 Matthew Hancock takes over from Michael Fallon as junior energy minister at the UK's Department of Energy and Climate Change.

New Modi Government Plans to Revamp India's E&P Sector
Tuesday, July 15, 2014 Fresh from its election success, India's newly elected government prepares to introduce policies to strengthen the country's upstream hydrocarbon sector.

Mexico's Senate Committees Approve Key Part Of Energy Bill
Tuesday, July 15, 2014 Mexican Senate committees give approval to a law at the heart of a package that will implement the opening of the oil and gas industry to outside investment.

Mines Minister: S. Africa Ready to Re-Evaluate New Oil And Gas Law
Tuesday, July 15, 2014 South Africa may reconsider a new oil and gas law to ensure that investors can be make profits while securing a place for the state in the sector, Mineral Resources Minister Ngoako Ramatlhodi says.

UAE's Dana Gas Says Wins Right to Some Payments from Iraqi Kurdistan
Sunday, July 13, 2014 An arbitration tribunal awards Dana Gas the right to receive some outstanding payments from the Kurdish government.

China, US To Cooperate On Strategic Oil Reserves
Friday, July 11, 2014 China and the United States have signed a preliminary agreement to cooperate on SPR, China's NEA says, marking the first such effort between the world's top two oil consumers.

API VP: Elected Officials, Not Voters, Should Make Fracking Decisions
Friday, July 11, 2014 Complex and technical energy issues like fracking are best made by elected officials, according to API Vice President Louis Finkel.

US Legislators Introduce North Atlantic Energy Security Act
Friday, July 11, 2014 Four senators introduce the North Atlantic Energy Security Act, which they say will cut red tape holding up LNG exports, energy production and infrastructure development.

Transboundary Leases Provide Excellent Opening to Mexico DW Exploration
Friday, July 11, 2014 The awarding of the Transboundary oil and gas leases comes at an excellent time in Mexico, according to John T. Young Jr.

Forum Energy Gets Extension for its SC72 Work Progam Offshore Philippines
Thursday, July 10, 2014 Forum Energy receives a one year extension to complete the work program for the second sub-phase of Service Contract 72 offshore the Philippines.

Chesapeake Faces Trial On Bid-Rigging In Michigan Lease Sale
Thursday, July 10, 2014 A judge in Michigan has ruled that Chesapeake must face a criminal trial on a charge of bid-rigging with competitor Encana at a 2010 state land lease auction.

Russia's Rosneft, Zarubezhneft To Agree On Cuban Offshore Block This Week
Thursday, July 10, 2014 Russian state oil companies Rosneft and Zarubezhneft plan to sign an agreement with Cuban state oil company Cubanpetroleo to develop an offshore block 37, a senior Russian official says.

API Publishes 'Good Neighbor' Standards for Oil, Gas Developers
Wednesday, July 09, 2014 API issues a first-of-its-kind industry standard for community engagement in areas of the country where horizontal drilling and hydraulic fracturing have opened new energy development opportunities.

Under Sanction Threat, Russia Turns To Own, Chinese Oil Technology
Wednesday, July 09, 2014 Partly built in South Korea, Russia's recent platform at the Sakhalin-1 project, highlights the oil industry's dependence on foreign technology.

Senator: Mexico Energy Laws Likely To Be Approved By Early August
Tuesday, July 08, 2014 Mexican laws that lay out the fine print of a landmark energy sector overhaul approved last year should be passed by lawmakers in early August at the latest, a ruling party senator says.

Feds Seek to Hike LNG Facility User Fees
Tuesday, July 08, 2014 The US Department of Transportation is accepting comments on a proposal to increase the user fees it levies on LNG facility operators.

NOC: Libyan Oil Output 326,000BPD, El Sharara Field Still Blocked
Monday, July 07, 2014 Libyan oil output is currently at 326,000 barrels per day, according to an NOC spokesman.


From New York Heroin Dealer to Afghanistan's Biggest Oil Man
Monday, July 07, 2014 One-eyed Rateb Popal's debut as an Afghan businessman was not promising: he was caught smuggling heroin and locked up in a New York federal prison for almost a decade.

Algeria, Tanzania Close to Deal on Oil, Gas Exploration
Monday, July 07, 2014 OPEC member and gas exporter Algeria is in advanced talks for a first deal to start oil and gas exploration in Tanzania, boosting its ambitions to expand in east Africa, Algerian and Tanzanian energy ministers said.

Fiscal, Regulatory Change an 'Absolute Necessity' on UKCS
Monday, July 07, 2014 Radical fiscal and regulatory change is an "absolute necessity" to ensure that up to 24 billion barrels of remaining hydrocarbons on the UK Continental Shelf are fully exploited, according to a new report.

EIA: Federal Lands Contributing Less to Total US Energy Picture
Monday, July 07, 2014 Sales volume figures from fossil fuel recoveries weaken in 2013, mostly due to a drop in offshore natural gas recoveries, according to an EIA report.

Vantage Energy Files for IPO of About $400M
Monday, July 07, 2014 Vantage Energy files with US regulators to raise approximately $400 million in an IPO.

NOPA Renews Bounty's Permit AC/P 32 in Timor Sea for 5 More Years
Friday, July 04, 2014 Bounty Oil & Gas reports that the National Offshore Petroleum Authority has renewed the firm's petroleum exploration permit AC/P 32 offshore Western Australia for a further 5 years.

Metgasco Takes Legal Action Over Suspension of Rosella Drilling in NSW
Friday, July 04, 2014 Metgasco proceeds with legal action over the suspension of its license to drill the Rosella exploration well in permit PEL 16 in northern New South Wales, Australia.

Iraqi Kurds Say Will Sue Baghdad If It Blocks Oil Sales
Thursday, July 03, 2014 Iraq's autonomous Kurdish region has hit back at Baghdad over independent oil exports, a letter from the Kurdistan Regional Government (KRG) shows.

Alaska Governor Says Design Work To Start On New LNG Project
Thursday, July 03, 2014 The state of Alaska and four energy firms sign a JV agreement to begin preliminary work on an 800-mile natural gas pipeline from the North Slope to an LNG export plant.

Commerce Dept Oil Export Approval Questioned By US Senators
Wednesday, July 02, 2014 Two senators ask the US Commerce Department to explain why it approved exports of a form of super-light oil known as condensate.

Greece Promises Tax Cut To Attract Oil And Gas Majors
Tuesday, July 01, 2014 Greece is planning to cut tax rates for oil and gas companies as it wants to attract them to help exploit its untapped offshore hydrocarbon resources, its energy minister says.

Russia Asks UN To Stop Syrian Terrorist Oil Sales
Tuesday, July 01, 2014 Russia is asking the UN Security Council to condemn the illegal sale of Syrian oil by terrorist groups and encourage all countries to take "necessary measures" to prevent it.

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