HUNGARY BUILDS SOUTH STREAM
Hungary says it will go ahead and build its part of Gazprom's South Stream gas pipeline that bypasses Ukraine to supply Europe, despite U.S. and EU objections to the project.
Prime Minister Viktor Orban said Tuesday in Serbia that "those who say we shouldn't build South Stream should make an alternative proposal about how we could live without energy."
Orban added that "we are going to build the South Stream."
His comments underscore divisions within the EU over the trans-European pipeline. The standoff over Ukraine has renewed calls for the 28-nation bloc to rethink its energy policies to make it less reliant on Russia.
Bulgaria last month had to freeze its South Stream construction work under orders from EU Commission, which said the country breached EU competition rules.
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PLATTS - National Australia Bank announced Thursday it will no longer provide financing for new thermal coal projects.
Petrobras and ExxonMobil signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities.
ExxonMobil Development Africa B.V. has acquired a 25 percent indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.
U.S. Rig Count is down 1 rig from last week to 930, with oil rigs down 4 to 747, gas rigs up 3 to 183, and miscellaneous rigs unchanged. Canada Rig Count is up 19 rigs from last week to 238, with oil rigs up 22 to 134 and gas rigs down 3 to 104.