Crude Oil Falls From 11-Month High in New York as U.S. Refinery Units Open

(Bloomberg) -- Crude oil fell from an 11-month high
in New York on speculation that U.S. fuel stockpiles will
increase because refineries are opening units.

Exxon Mobil Corp., BP Plc and Valero Energy Corp. started
units at refineries in Texas over the past week. Prices rose
this week after the Energy Department reported that U.S. fuel
stockpiles declined last week as gasoline demand rose. Total SA
said it restored normal output from an oil field in Angola after
cutting production to make repairs.


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Crude Oil Rises to 11-Month High on Report of Reduced Exports From Angola

(Bloomberg) -- Crude oil rose to $76 a barrel in
New York, the highest in more than 11 months, after Total SA
said it would curb exports from the Dalia field in Angola
because of a mechanical failure.

Total declared force majeure, a legal clause meaning
deliveries are suspended because of conditions beyond the
company's control, after production at the 240,000-barrel-a-day
field was cut by 50 percent. Prices also rose because a
government report yesterday showed that U.S. gasoline supplies
declined last week.


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Angola lifts ban on British Airways flights

(Reuters) - Angola has lifted a nine-day ban on British Airways, imposed in retaliation for a decision to prevent the African nation's flagship carrier from flying to London, a BA official said on Wednesday.

BA received a letter from Angola's civil aviation authority on Wednesday confirming that the airline could resume flights between London and Luanda, Rob Cooper, BA's country manager in Angola, told Reuters.


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Indian firms eye Devon's West Africa assets - sources

(Reuters) - Four state-run Indian oil firms are weighing up whether to enter the race for some of the West African oil and gas assets held by U.S.-based Devon Energy, sources close to the potential bids said on Monday.

A source said exploration firm Oil India Ltd. and refiner Indian Oil Corp. (IOC) were jointly evaluating data for a possible non-binding bid for Devon's Angolan assets and "would submit a bid if the data meets expectations".


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OPEC's Oil Production Rose by 5,000 Barrels a Day in June, Survey Shows

(Bloomberg) -- Crude-oil production in June by
members of the Organization of Petroleum Exporting Countries rose
5,000 barrels, a Bloomberg News survey showed.

Output averaged 30.02 million barrels a day, according to
the survey of oil companies, producers and analysts. The 10
members of OPEC with production quotas, all except Angola and
Iraq, increased shipments by 95,000 barrels to 26.51 million
barrels a day.


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Total Says Rosa Deepwater Oil Field Off Angola Began Production on June 18

(Bloomberg) -- Total SA, Europe's third-largest oil
company, said production started June 18 at its Rosa deepwater
oilfield off the coast of Angola.

Total said the Rosa field, which has proven and probable
reserves of 370 million barrels, will maintain the production
plateau of the Girassol platform at 250,000 barrels a day ``until
early in the next decade,'' the Paris-based company said today in
an e-mailed statement.


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