International Oil

Oil Rises a Second Day as U.S. Inventories Decline, ECB Meets at Bloomberg.

Blackout Highlights India’s Diesel Dependence at the WSJ.

“NLG Bloodbath…rippling across the oil and gas industry” at Bloomberg.

Devon JV’s some Permian acreage.  Remember, time value is a key componet in these deals.  Rigzone

“Anadarko also set a record with a weekly net production rate of 32,300 boe/d in the quarter. Gross processed production is approaching 100,000 boe/d.”  Eagle Ford Shale

Mississippi lime play sprawls northward into Nebraska at the Oil & Gas Journal.

Nexen bid part of China’s plan to become resources powerhouse at US NewsChina’s Energy Grab Is About Know-How, Not Resources at Business Week.  Never mind Nexen is a Canadian company with only 10% of its assets in the U.S. and most of its properties flung throughout the rest of the world, U.S. senator urges Washington to use China’s bid for Nexen as leverage at Globe and Mail.  Perhaps Keystone pipeline politics plays into this too.

The last 50 S&P points were based on European promises.  This morning they show their cards.