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OIL & GAS

Labat Africa moves into Namibia oil and gas

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JSE-listed Labat Africa on Monday said it aimed to invest in five oil and gas leases in Namibia. Labat Africa had executed a letter of intent with Amicitia Holdings to purchase all the issued shares in Palatina Petroleum, thereby acquiring a...
20th May 2013
 
 
OIL AUCTION

Brazil's tarnished oil industry polishes image with rights sale

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For the first time in nearly five years, Brazil's flagging oil industry has received serious interest from private investors. Brazil's oil agency, the ANP, sold 142 exploration areas to 39 companies from 12 countries on Tuesday, wrapping up the...
15th May 2013
 
 
OIL INFRASTRUCTURE

Arch Coal and Meritage Midstream to form oil transshipment JV

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US number two coal producer Arch Coal on Wednesday announced it had entered into a letter of intent to create a joint venture (JV) with fossil fuel specialist Meritage Midstream Services II to develop a rail terminal to provide crude oil handling,...
15th May 2013
 
 
OIL AND GAS

Tanzania to offer oil/gas exploration blocks in October

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Tanzania plans to offer seven deep offshore blocks and one onshore block in October for oil and gas exploration, state-run Tanzania Petroleum Development Corporation (TPDC) said, in a region that has become a hotbed for gas discoveries. TPDC said...
15th May 2013
 
 
OIL & GAS

Senex announces new gas discovery

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Oil and gas company Senex Energy on Wednesday reported that it had identified up to 2.9-trillion cubic feet of prospective resource in a new gasfield, dubbed Hornet. The resource included some 141-billion cubic feet of 1C contingent resource, and...
15th May 2013
 
 
OIL & GAS

Brazil gets strong bids at 1st oil, gas auction in 5 yrs

0 COMMENTS
Global energy companies were strong bidders on Tuesday at Brazil's first auction for oil and natural gas rights in five years, alleviating fears that government intervention and growth in new global supplies might crimp enthusiasm for the South...
14th May 2013
 
 
CORPORATE ACTIVITY

Plains CEO urges shareholders to back Freeport deal

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The CE of Plains Exploration & Production Co urged shareholders on Monday to vote in favour of Freeport McMoRan Copper & Gold Inc's proposed takeover of the energy company. The open letter from CEO James Flores follows recommendations by two...
14th May 2013
 
 
DIVERSIFIED MINERS

Glencore Xstrata Q1 results show solid performance from metals division

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The newly merged Glencore Xstrata group on Monday posted combined first-quarter 2013 production results, which saw the metals and minerals division delivering solid results, despite some softening in prices towards the end of the quarter. The...
13th May 2013
 
 
 
 
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