Energy Update
May 16 (Reuters) - Canadian oil and gas producer Penn West
Petroleum Ltd said on Monday it may be in
default on its financial covenants at the end of the second
quarter and raised doubts about its ability to continue as a
going concern.
SYDNEY, May 16 (Reuters) - Monaco-based oil services company
Unaoil denied on Monday a media report linking it to corrupt
practices involving big oil companies said it has been the
victim of an extortion attempt by unidentified criminals.
May 16 (Reuters) - The war of words between U.S. pipeline
operators Williams and Energy Transfer Equity (ETE)
has worsened after Williams filed a lawsuit to pressure
its would-be buyer to proceed with their merger agreement.
* For other news from Reuters Financial Regulation Summit,
click on http://www.reuters.com/summit/FinancialRegulation16
May 16 (Reuters) - Canadian oil and gas producer Penn West
Petroleum Ltd said on Monday it may be in
default on its financial covenants at the end of the second
quarter and raised doubts about its ability to continue as a
going concern.
ABUJA, Nigeria, May 16 (Reuters) - The Nigerian army said on
Monday it had arrested members of a militant group which has
claimed responsibility for a wave of attacks on pipelines in the
restive Delta region.
FATEH JHANG, Pakistan, May 16 (Thomson Reuters Foundation) -
F or farmer Mujahid Abbasi, switching the power source for his
irrigation pump from diesel to biogas has brought economic and
health gains.
May 16 (Reuters) - Oil major BP Plc said it doubled
its stake in the Culzean gas field in the UK's North Sea after
buying an additional 16 percent interest from partner JX Nippon.
LONDON/LAGOS, May 15 (Reuters) - The growing fleet of
tankers stuck off Nigeria unable to unload their cargoes of
diesel and petrol is an even-present reminder for President
Muhammadu Buhari that another fuel crisis is looming on the
horizon.
YENAGOA/ABUJA, Nigeria, May 13 (Reuters) - They call
themselves the Niger Delta Avengers. Little is known about the
new radical group that has claimed a series of pipeline bombings
in Nigeria's oil-producing region this year and evaded gunboats
and soldiers trawling swamps and villages.
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