Oil and Gas News: April 1 - April 5, 2013 oil and gas market analysis, reports , data, resources @ Checkonomics

1. EIA: US energy-related carbon dioxide emissions at lowest levels since 1994 (April 5, 2013) According to the US Energy Information Administration, in 2012, US energy-related carbon dioxide emissions reached 5.3 billion tonnes, the lowest level since 1994. One of the main drivers behind the declining CO2 emissions was the predominant use of natural gas as against coal for electric power generation. Decreased demand for transportation fuels and warmer winters were the other two contributory factors. 2. Gastar to Buy Back Chesapeake Stake (April 1, 2013) Gastar Exploration Ltd., an independent energy company in the US, has entered into a definitive agreement to acquire proven reserves and undeveloped leasehold interests in Oklahoma from Chesapeake Energy Corporation, repurchase Chesapeake's common shares of the Company and settle all litigation for USD85 million. The transaction is expected to close by June 2013. The new property is close to Gastar’s existing Mid-Continent acreage. The company believes that its new property along with the Mid-Continent acreage will boost its opportunities in the potentially highly prolific new oil play. EUROPE AND RUSSIA 1. Shell, Gazprom to Sign Arctic Agreement (April 5, 2013) Royal Dutch Shell PLC is expected to sign a framework agreement with Russia's OAO Gazprom Neft on projects on Russia's Arctic shelf. Shell is already partnering with OAO Gazprom, Gazprom Neft’s parent company, on the Pacific Sakhalin-2 project. Shell and Gazprom Neft are also partnering in the development of onshore oil resources. 2. MOU signed for Yamal-Europe 2 gas pipeline (April 5, 2013) Gazprom and EuRoPol Gaz have signed a memorandum of understanding for the Yamal-Europe 2 gas pipeline. As per the MoU, Yamal-Europe 2 natural gas pipeline would pass through Poland en route to Slovakia and Hungary. The Yamal-Europe line connects a gas transmission hub at Torzhok, Russia, with the German transmission system near the German border with Poland, and also passes through Belarus. It is more than 2,000 kms long and has the design capacity of 32.9 billion cu m/year. 3. Statoil Oil Sands Production Up More Than 60% in 2012 (April 4, 2013) Statoil has announced that during 2012, it increased production from its Canadian oil sands activities by more than 60% and reduced its carbon dioxide intensity by almost 24%. The company has further said that it aims to reduce carbon dioxide intensity in its production process by 25% by 2020 and by 40% in five years thereafter. The company is also believed to have reduced water usage, improved its steam-oil ratio and planted 267,000 trees to reclaim land. MIDDLE EAST 1. Petrofac Gets USD500M EPIC Contract For SARB Project, Offshore Abu Dhabi (April 2, 2013) Petrofac, one of the leading oil field service companies globally, has announced that it has been awarded an engineering, procurement, installation and commissioning contract by Abu Dhabi Marine Operating Company for the Satah Al Razboot (SARB) package 3 project, offshore Abu Dhabi. The USD500 million tendered contract is expected to be delivered by April 2016. The SARB project is a high priority, new field development project off the Northwest coast of Abu Dhabi. "oil and gas supply, oil industry in india, oil and gas analysis, oil and gas finance, research on oil and gas, oil & gas service companies, oil and gas economics, oil and gas trends, analysis of oil and gas industry, oil reserve estimates, oil and gas outsourcing, oil and gas growth rate, oil and gas research topics, oil and gas analyst reports, demand supply status of oil, demand supply status of gas, major oil and gas companies of japan, demand for oil in the middle east, supply of oil in the middle east, major challenges faced by the oil industry, research on oil and gas industry, major oil and gas companies.

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