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Energy News: Exxon Mobil Predicts Reversal in North American Oil Trade


Plus, Chevron is about to invest $33 billion in a few African nations.

This column highlights the most interesting and useful business and financial commentary on energy from around the Web.
Link: Exxon Mobil Sees Reversal in North American Oil Trade
"The spreading oil and gas boom is leading North America toward energy self-sufficiency.

"And in the not-too-distant future, the continent will be a net exporter of both natural gas and oil, Exxon Mobil Corp. (NYSE:XOM) predicted Wednesday in its 2013 Energy Outlook."

Link: GlassPoint Solar Gets Royal Dutch Shell Boost
"One of the world's largest oil companies, Royal Dutch Shell (NYSE:RDS.A), has invested in a Fremont startup that uses solar power to squeeze petroleum from aging oil fields.

"GlassPoint Solar's technology generates high-pressure steam to heat oil underground, helping it flow to the surface. The company will announce Tuesday that it has raised $26 million in its latest financing round."

Link: Here's Why SolarCity's IPO Price May Get Cut, Even After First Solar's Rally
"SolarCity Corp., a solar panel installer and financing specialist chaired by Elon Musk, is facing headwinds as it gets ready to price 700,000 shares for trading on Wednesday under the symbol SCTY on the Nasdaq, an analyst said.

"Price talk is now centering around $10 a share for the deal, although no official notification of the discount has been made in the IPO's most recent filings, according to Scott Sweet of IPO Boutique."

Ventures Africa
Link: Chevron To Invest $33 Billion In Nigeria, Angola, Others
"Leading energy multinational, Chevron Corporation (NYSE:CVX), has disclosed plans of a $33 billion investment in exploration and production activities, including major natural gas-related projects in Nigeria and two other African countries, as part of its $36.7 billion capital and exploratory investment programme for 2013.

"In a recent statement, the company said that its major capital investments for the next year include developments in Australia, Nigeria, the United States deep-water Gulf of Mexico, Kazakhstan , Angola and the Republic of Congo."

The Huffington Post
Link: Rosneft Buys Other Half of TNK-BP for $28 Billion
"Rosneft (LON:ROSN) has signed an agreement to purchase 50 percent in Russia's third-largest oil producer TNK-BP for $28 billion, having earlier acquired the other half from BP (NYSE:BP).

"Rosneft and AAR, a consortium of Russian shareholders in TNK-BP (PINK:TNK-BP), said in a statement on Wednesday that they struck the final deal in Munich this morning."
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