Energy
Crude Oil Rises a Second Day as Dollar Weakens Against Euro, Equities Gain Crude oil rose the most in a week as
the dollar weakened against the euro after the European Union
held out the prospect of aiding Greece with its budget deficit.
Iran Supertankers Idle in Persian Gulf as Oil Declines Before OPEC Meets Iran, OPEC’s second-largest crude
producer, has at least three supertankers idling in the Persian
Gulf, as oil prices decline five weeks before the group’s next
meeting, vessel-tracking data show.
Ghana `Not Blocking' Sale of Kosmos Assets to Exxon, Energy Minister Says Ghana, the West African nation set to
begin producing oil for export in late 2010, is “not blocking”
Exxon Mobil Corp.’s bid to buy Kosmos Energy LLC’s stake in the
Jubilee field, Energy Minister Joe Oteng-Adjei said.
Venezuela's Chavez Declares a National `Emergency' on Electricity Crisis Venezuelan President Hugo Chavez
declared a national emergency in the electricity sector as the
country’s worst drought in 50 years dries up water supplies in
hydroelectric dams.
Iraq Government Allows Kurds to Resume Exporting Crude Oil `Immediately' Iraq, holder of the world’s third-
largest crude reserves, will resume oil exports from the
northern Kurdish region “soon” after the government agreed to
the local authority’s proposal on a payment method.
Ecuador May Develop $6 Billion Dam Project After 2009's Power Shortages Ecuador may develop a $6 billion
hydroelectric project to create energy supplies for new mines
and avert power shortages similar to the ones the South American
country experienced in 2009.
Ivory Coast Refinery Is in Talks With Banks on Loans to Keep Plant Running Société Ivoirienne de Raffinage,
Ivory Coast’s only oil refinery, is in talks with domestic and
international banks to plug a 50 billion-CFA-franc ($104.9
million) deficit and keep the facility operating.
Abengoa Said to Raise $460 Million to Build Mexican Power Plant for Pemex Abengoa SA, the Spanish engineering
and recycling company, is borrowing $460 million to build a
power plant in Mexico for oil company Petroleos Mexicanos,
people with direct knowledge of the loan said.
Natural-Gas Futures Fall on Speculation That Fuel Inventories Are Adequate Natural gas futures declined for a
second day on anticipation that supplies of the heating and
industrial fuel will be adequate to meet winter heating demand.
Saudi Arabia's ACWA Power to Bid on $10 Billion Worth of Projects in 2010 ACWA Power International, an
electricity and water company expanding outside Saudi Arabia,
plans to bid for $10 billion in contracts this year in the
Persian Gulf, Africa and Turkey as well as its home market.
Heating Oil Surges as Forecasts for Cold U.S. Weather Signal Demand Gains Heating oil surged as a storm
approached the U.S. Northeast, which consumes four-fifths of
home heating fuel, and as the dollar slumped.
Abu Dhabi to Award $2 Billion in Onshore Oil Contracts to Boost Production Abu Dhabi, the largest sheikhdom in
the United Arab Emirates, is set to award almost $2 billion in
onshore oil service contracts as part of an effort to boost
crude production capacity to 3.5 million barrels a day by 2018.
Schlumberger Sees `Relatively Flat' U.K., Norway Investments Through 2011 Schlumberger Ltd., the largest
oilfield-services provider, expects investments to be
“relatively flat” in the U.K. and Norway through 2011 after
suppliers cut costs to combat lower spending by producers.
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