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The article reports on the plan of Russian Prime Minister Vladimir Putin to work closely with the Organization of the Petroleum Exporting Countries (OPEC). According to Putin, Russia will coordinate its work with OPEC even though the organization is sometimes irritated by the country's capacity to influence international crude oil prices. The purpose of the extensive cooperation proposed by Russian Vice-Premier Igor Sechin between OPEC and Russia is also discussed.

Th article reports that U.S. President Barack Obama has signed an executive order (EO) that imposes additional sanctions against the Syrian government. The Obama Administration also freezes Syria's assets in the U.S. and banned the country's importation of petroleum or petroleum products from Syria. Syrian entities that are covered by the EO include the state-owned General Petroleum Corp., Syrian Petroleum Co. and Syrian Gas Co.

The article reports on the decision of Abdullah El-Badri, secretary general of the Organization of the Petroleum Exporting Countries OPEC) to ask the International Energy Agency to reverse its earlier decision to release 60 million barrels (bbl) of oil over 30 days. He stated that he is hoping that the practice will be stopped immediately. He mentioned that the agency did not give OPEC a chance to increase its output before deciding to draw from the strategic reserves of its members.

The article reports on the goal of the forces who opposed to the rule of Libya's leader Moammar Gadhafi to restart oil production from the North African nation to increase revenues. Rebel Oil and Finance Minister Ali Tarhouni said the National Transitional Council (NTC) hoped to resume oil production of about 100,000 barrels/day (b/d). The article also cites a statement by Libya's defecting labor Minister Ali Al-Amin Manfur that Gadhafi's regime is selling oil on the black market to raise cash.

The article discusses reports of bombing Libya's oil facilities in March 2011 as the country's leader Moammar Gadhafi accuses the rebels of paving the way for a new colonial era that is deemed to allow the U.S., Great Britain and France to control its oil wealth. Loyal Gadhafi forces allegedly struck an oil pipeline and storage facility as they fired artillery at rebel forces. It is believed that oil facility damage is imminent and that Libya has already been discounted from the global markets.

The article reports on the decision of the secretary-general of the trade industry ministry to close its petroleum refinery in Djarmaya, Chad, following a dispute over price of oil with supplier China National Petroleum Corp. International (CNPCI). According to Marne Beukes, analyst at IHS Global, the refinery operated at a loss of 47-million U.S. dollar in August because of the discrepancy in retail price. A government-CNPCI agreement was signed on August 24 covering loans and exports.

The article reports on the support pledged by the Japanese government to the sanctions imposed against Iranian oil and banking industries. Japan's Finance Minister Jun Azumi said that his country will launch initiatives to reduce its oil dependency on Iran. Meanwhile, a European Union (EU) diplomat said that allowing Europeans to continue accepting oil for debt repayments will reduce the crude supply of Tehran, Iran.

The article reports that PetroChina will acquire the MacKay River project of Athabasca Oil Sands Corp. (AOSC) for 2.5 billion Canadian dollars. According to AOSC, it exercised its options to sell its interest in the project to China's state-owned company which also bought a 60 percent share in 2009. The production is scheduled to start in 2014 with an initial capacity of 35,000 barrels per day (b/d).

The article discusses a Centre for Global Energy Studies (CGES) report which showed that the 2011 oil production of Russia reached a record high for the post-Soviet period. According to CGES, the average oil production of Russia was 10.28 million barrels per day (b/d) in 2011, over 1.2 percent in 2010. Data from the Russian Ministry of Energy showed that Russia's December 2011 output reached 43.65 million tonnes.

The article reports on a forecast by the Petroleum Services Association of Canada (PSAC) that 15,100 wells will be drilled in Canada in 2012. Provinces that will see the most number of well drillings are Saskatchewan, Alberta and British Columbia. PSAC also noted that oil prices will be enough to fund oil drilling while gas prices will remain low.

The article focuses on Syrian Oil Minister Sufian Allaw who said that the imposed U.S. and European Union (EU) sanctions led to the reduction in Syrian oil production from 380,000 barrels per day (b/d) to 270,000 b/d. It mentions that 28% of annual Syrian revenue is from sales of their oil output, 95% of which is bought by Europe. It also notes the delegation sent by Syria to companies in Indonesia, India and Malaysia for the marketing of their oil products.

The article presents a forecast from Mexico's state-owned Petroleos Mexicanos (Pemex) that its crude oil output will increase to over 2.6 million barrels per day (b/d) by the end of 2011 and by three million b/d by 2016-17. According to Pemex Chief Executive Officer (CEO) Juan Jose Suarez Coppel, these output targets indicate that the production shortfall that started in 2005 has finally stopped. He points out a need for Pemex to invest in improved recovery technologies in mature fields.

The article reports on the resumption of crude oil production in Libya by Total SA and Eni SPA in October 2011. Output was also restarted by state-owned Sirte Oil from its eastern gas fields, according to a company spokesman. Eni's production is predicted to reach 140,000 barrels per day (b/d), but the absence of foreign oil contractors is negatively affecting the recovery of the Libyan oil and gas industry, according to Mellitah Oil & Gas Chairman Najmi Karim.

The article reports on the potential increase in crude oil production to prewar levels from 2011 to 2012. According to National Oil Corp. chairman Nouri Berouin, the country needs to secure its oil fields by clearing nearby minefields. He adds that the gas and oil industry in the country requires logistical support to increase their output in the mentioned time frame.

The article reports on the announcement by energy company Statoil Petroleum AS that communication has been established between the Aldous and Avaldsnes oil discoveries in the North Sea. The find is noted to represent a single oil structure with potentially 0.5-1.2 billion barrels of recovery oil equivalent. The company states that the discovery will be one of the 10 largest oil finds ever on the Norwegian continental shelf. The timeliness of the link is also highlighted.

This article reports on a study on the competition between Iraq and Saudi Arabia on becoming the biggest oil producer. Released by the Baker Institute for Public Policy at Rice University, the study recognized the potential of Iraq to vie for leadership with Saudi Arabia in the world oil industry. However, the study pointed out the difficulty facing the two countries in meeting increasing demand for oil.

The article reports on the possible decline in oil exports of Saudi Arabia over the long term as the Middle Eastern country's own domestic demand is expected to consume more of its production. A report by "Jadwa Investment" noted that the country's domestic consumption of energy is likely to rise rapidly. The report added that the pace of consumption growth has increased from an annual average of 4.8 percent between 2000-2004 to 5.9 percent between 2005-2009.

The article reports on the joint venture between Nilepet, South Sudan's state-owned enterprise, and Glencore International PLC to market the oil produced by the Republic of South Sudan under the company, PetroNile. Information Minister Barnaba Marial Benjamin describes the benefits of the joint venture to the country. Sudan markets 375,000 barrels daily of oil produced by China National Petroleum Corp., Petronas and Oil & Natural Gas Corp.

The article reports on the statement by Mohammad Ali Khatibi, Iran's governor for the Organization of the Petroleum Exporting Countries, that Iran continues to supply oil to India despite receiving no payment for several months in order to ward off predatory efforts by Saudi Arabia. Under pressure from the U.S., India banks blocked transfers of money to Iran. Khatibi also accused rival exporter Saudi Arabia of trying to get more of the global oil market by reducing its prices and increasing output.

The article discusses the plans of Libya's Transitional National Council (TNC) to sign contracts with integrated international oil companies to resume production. According to TNC, the future of Libya's National Oil Co. is still being considered and that all finance and oil contracts signed during Libyan leader Moammar Gadhafi's regime will be honored. The TNC statement contrasted with the negotiations began by Libya's government with Russian and Chinese energy firms about the Eni SPA's projects in the country.

The article focuses on the views of Iran's Organization of the Petroleum Exporting Countries (OPEC) Governor Mohammad Ali Khatibi about the commitment of OPEC to address crude supply shortage and balance the global market. He cites the expected rise of global oil demand and the demand for OPEC crude by end of 2011. Concerns about the presence of Iranian President Mahmoud Ahmadinejad, as temporary minister of oil, in the OPEC meeting on June 8, 2011 are also noted.

The article reports that international oil companies in Great Britain are appealing to the British government to rectify the tax increases it imposed on the industry. The oil companies which include Royal Dutch Shell, Total SA and Centrica PLC are saying that the industry cannot bear the burden of increased taxation and its consequence will have disproportional damage. The government justified the increase on the basis of higher oil prices.

The article reports a study by the Aberdeen University in Scotland that examined the economic effects of increased tax rates in field investments and oil gas production. The study indicates that increased tax rates will inhibit the attainment of maximum economic recovery from the continental shelf of Great Britain. It adds that reductions in post tax returns from field investment will reduce incentives to pursue exploration prospects and to finance development projects.

The article claims that the current levels of global oil demand would buffer the impact of Japan's nuclear crisis on Kuwait, according to Kuwait Petroleum Corp. (KPC) Managing Director Abdelatif Al-Houti. Al-Houti notes the price balance created by the nuclear crisis in Japan due to its reduced oil consumption. The rising energy demand in Kuwait is attributed to the nation's growing demand for electricity. KPC is also studying the possibility of long-term imports of liquefied natural gas.

The article offers information on a report on the impact of the March 2011 earthquake and resulting tsunami on the Japanese refining industry released by FACTS Global Energy. According to the report, at least six refineries stopped operations due to the disaster. This resulted in the suspension of an estimated 1.4 million barrels per day (b/d) of refining capacity.

The article reports on the barrels of oil sold by Qatar, United Arab of Emirates on behalf of Libya's Interim National Council (INC). Qatar also disclosed that it has delivered several shipments of petroleum products to the Libyan eastern port of Benghazi through its state-owned International Petroleum Marketing Co. (Tasweeq). The move is said to have been ordered by Qatar's ruler Emir Sheikh Hamad bin Khalifa al-Thani.

The article focuses on the decline in Libya's oil output amid the developing civil war in the country as of March 2011. According to a report by the Centre for Global Energy Studies (CGES), many of its oil fields and export terminals are located in parts of Libya that are effectively controlled by opponents of the government. CGES estimated that between 50 and 80% of oil production in Libya has been lost temporarily. Libyan leader Moammar Gadhafi blamed the armed gangs for the reduced output.

The article reports that international oil companies (IOCs), including Italy's Eni SPA, are either evacuating or planning to evacuate Libya as increased violence continues to threaten the downfall of the country's leader, Muammar Qaddafi. According to Nicolo Sartorim, energy and security researcher at the 1A1 Institute for International Affairs, Italian oil interests are heavily exposed in Libya and stand to lose greatly if the crisis worsens.

The article reports that Chinese hackers penetrated the computer networks of no less than five international oil firms, according to a report issued by the U.S. computer security firm McAfee Inc. in 2011. McAfee chief technical officer George Kurtz says covert cyber attacks were launched against various petrochemical, energy and oil firms since November 2009. Kurtz added that McAfee has identified the network activities, techniques and tools that were used by the hackers.

In this article, the author ponders on the concerns raised by the implementation of stricter sanctions against Iranian oil. The author pays particular focus on Saudi Arabia's claim that it can meet market demands, as supply reduces because of the sanctions. The insights of Saudi Arabia's Minister of Petroleum and Mineral Resources Ali I. Al-Naimi on oil supply are highlighted.

The article focuses on the speculations that the European Union will impose tougher sanctions on the oil and banking sectors of Iran for its continued pursuit of nuclear weapons. Foreign Minister Villy Soevndal of Denmark said that the EU will impose stricter sanctions against Iranian oil and financial structures. However, since EU mostly source oil from Iran, it plans to look for other oil sources before imposing the sanctions.

The author discusses Iran's strengthening of its diplomatic relation by visiting several Latin American countries. Iranian President Mahmoud Ahmadinejad met with Venezuelan leader Hugo Chavez to discuss the oil links between the two countries which are both members of the Organization of the Petroleum Exporting Countries (OPEC). Iran will deliver four oil tankers to Venezuela, valued at 520 million euros.

The article assesses the impact of Iran's threat to close the Strait of Hormuz on the oil and gas industry in 2012. It warns about a disruption of supply of oil and gas due to the threat. It also discusses the intention to impose sanctions on the Iranian government in response to the threat. The concern of consumers over the effect of the threat on oil and gas prices is noted.

In the article, the author discusses developments in the global oil and gas industry as of December 2011. He cites the speech delivered by Saudi Aramco president Khalid Al-Falih at the World Petroleum Congress, in which he claimed that the industry is experiencing its golden age. He cites, however, that the golden age will not be reached without great effort.

The article reports on the criticisms against renewable energy which were originally intended for the oil and gas industry. According to British commentator Clive Aslet, the numerous wind farms that proliferate in the country are the products of former British Prime Minister Tony Blair. Aslet also claims that green energy has increased the country's bills by 7.1 billion British pounds. It is also noted that British wind farms have not accomplished their intended aim.

The author discusses Daniel Yergin's essay about the oil and gas industry, published in the "Washington Post." Yergin believes that the world is going to experience a shift in oil activity away from the Middle East and into the Western Hemisphere, including Canada, North Dakota and South Texas. He observes that the shift is unplanned and brought about by unrelated initiatives and technological breakthroughs.

The article discusses a Deloitte report which projected about 140 billion U.S. dollars investment in the oil and gas industry in 2012 by national oil companies in the Middle East and North Africa (MENA) region. The report notes that majority of engineering, procurement and construction (EPC) activity will be given in Saudia Arabia. It adds that contractors will follow their client oil companies in Iraq with contracts over 130 billion U.S. dollars to be awarded.

The article focuses on a disagreement between Eni SpA Chairman Paolo Scaroni and the International Energy Agency (IEA) over the impact of the Arab Spring on oil and gas investment. In a speech at an IEA meeting, Scaroni pointed out the difficulty involved in assessing the potential impact of the Arab Spring on energy security. He cited three reasons to remain optimistic over the oil market's prospects. He also expressed his belief that Iraq will play a key role for change in the market.

The article reports on the efforts of the International Energy Agency (IEA) to stress that oil producers in the Middle East and North Africa (MENA) should continue to invest in increasing their production capacity. In a statement, chief economist Fatih Birol says more than 80% of the growth in global oil production needs to come from MENA countries in the next 10 years. The comments came after Khalid Al Falih of Saudi Arabian Oil Co. said they had no plans to increase production capacity.

The article reports on progress in permits in the presalt layer under Brazil's long-proclaimed oil law as of October 2011. According to Mines and Energy Minister Edison Lobao, the proposal by the government to reduce its stake in oil royalties by 10 percent in 2012 was within the government's limits. Lobao also rejected proposals from state governors to raise special-participation taxes on heavy producing oil fields.

The author comments on efforts of Turkey to establish itself as an oil and gas transit hub between Central Asia and Europe. He points out that the efforts will be hampered by the unwillingness of Turkey to move beyond its 1974 invasion of Cyprus which resulted to the division of the country. The author notes the threat issued by Turkish Energy Minister Taner Yildiz to use warships in the region if the Cypriot government decided to push through with its plans for offshore drilling.

This article reports on the criticism received by Chinese, Indian and South Korean companies for their participation in infrastructure projects to carry oil and gas across Myanmar. Wong Aung of the Shwe Gas Movement said the companies are ignoring human rights abuses and civil war in the country. A report revealed that soldiers of the regime have deployed for the projects.

The author discusses efforts of ConocoPhillips to rebuild its relations with the Chinese regulators after a crude oil spill in Bohai Bay. Chief Executive Officer (CEO) James Mulva extended the company's apology over the incidents and the impact they have on the Chinese people and the environment. ConocoPhillips plans to create a fund to cover the clean-up costs to address its legal responsibilities and improve the general environment in Bohai Bay.

The article focuses on the efforts of the government of Colombia to enhance the security conditions for gas and oil firms. According to IHS Global Insight executive Diego Moya Ocampos, there is an increase in insurgent attacks against oil infrastructure in the rural areas in the country in 2011. Colombian President Juan Manuel Santos announced proposals related to this problem after an oil employee died from a roadside bomb.

The author discusses speculations in the international oil and gas market of when Libya will resume oil exports as the Libyan rebel forces continue to invade Tripoli. BASF SE's unit Wintershall AG notes that it is too early to predict how, when and what would it take to resume production in Libya. Arabian Gulf Oil Co. information manager Abdeljalil Mayouf claims that Libyan oil companies can resume production anytime if security is approved.

The article reports that Libyan rebels have seized control of an oil refinery located in Zawiyah. According to the article, additional supplies of imported oil products have reached many rebel-controlled areas in Libya. The Zawiya refinery was producing one third below its normal capacity and a pipeline that linked it to Tripoli was cut off. Oil analysts predict that oil production recovery in Libya will take at least 3 years.

The article discusses the problem besetting North and South Sudan particularly on oil as they became independent of each after 50 years of civil war. North Sudan government officials are reported to see oil transit as the most likely substitute of its lost oil production. To underline such demand, North Sudanese officials halted a cargo of South Sudanese oil, that subsequently worried the Chinese government which invested heavily in the Sudanese oil industry and imports the bulk of Sudanese oil.

In this article, the author comments on the effort of Iran to help Lebanon to explore its oil and gas resources. He believes that the effort means Iran will help Lebanon militarily. He relates the Iranian-Lebanese relations to the conflict between Lebanon and Israel over their maritime border. The author expects the Revolutionary Guard to be involved in the Iranian military assistance to Lebanon.

The article reports that Indian refiners are looking at the possibility of seeking increased crude oil shipments from Saudi Arabia, Kuwait and United Arab Emirates (UAE) due to uncertainties over the ability of Iran to provide adequate oil supplies. Mangalore Refinery & Petrochemicals Ltd. (MRPL) attributed the continuing international sanctions imposed on Iran on the uncertainty of oil supply from the country. The debt of India to Iran for unpaid oil is discussed.