NORTH AMERICA Age of Gas Seen as Sideshow to U.S.

Producers Prizing Oil - Bloomberg For company officials who presented at the Independent Petroleum Association of Americas conference in New York, oil is still the prize. Gas is almost an afterthought. Pipelines Help WTI Cushing Benchmark, CME Director Says - Bloomberg Connectivity between the Gulf Coast and Cushing has improved price correlation between WTI and LLS. Morsches said WTI also has more liquidity, with more than 530,000 trades a day taking place versus 600 a day for CMEs Gulf Coast contract . One in Five Global Shale Basins May Succeed, Wood Mackenzie Says Only one in five global shale regions may succeed in producing significant amounts of oil and gas as countries from China to Argentina seek to emulate the U.S. boom, said energy consultants Wood Mackenzie Ltd. Private equity firm raises $5B for midstream, power investments Energy Capital Partners, a private equity firm with a new office in Houston, has raised $5 billion to pump capital into power generation, gas pipeline and energy services companies. Fuel Fix Houston fills with crude oil that cant be shipped out The glut will make prices of benchmark West Texas Intermediate oil $13 a barrel cheaper later this year than Brent, according to Bank of America forecasts. The EIA forecasts the average gap for 2014 will be about $9. ConocoPhillips Raises Estimates for Eagle Ford Assets - WSJ.com ConocoPhillips raised its estimates for the size of its resources in the Eagle Ford play in Texas by 40% as the production-andexploration company also affirmed its long-term production and margin growth targets and capital spending plans. EUROPE Plane unveiled for first solar-powered flight around the world (photos) The Swiss-made airplane built for the first round-the-world solar flight has wings longer than a Boeing 747 jumbo jet yet weighs only about as much as a large car. IEA Trims 2014 Oil Demand Growth Forecast, Warns of Lower Production - WSJ.com The IEA on Friday highlighted ongoing "elevated" risks in the oil market, as it trimmed its forecast for an increase in demand this year following Russia's annexation of Crimea, but also warned of lower oil production. ASIA / PACIFIC Gazprom, CNPC Disscuss Russian Gas Supply to China>> LNG World News Alexey Miller, Chairman of the Gazprom Management Committee and Zhou Jiping, Chairman of China National Petroleum Corporation (CNPC) held a meeting in Bejing where they discussed the issues of arranging Russian pipeline gas supply to China. AFRICA Africas Biggest Investors Energy Plan Includes Shale, Inga - Bloomberg The Public Investment Corp. plans to lead investment in energy projects in Africa by buying into South African shale gas projects and helping to fund what could be the worlds biggest power generation complex in Democratic Republic of Congo. South Africa authorizes 13.2-million bbl Oiltanking crude terminal - Oil & Gas Journal South Africa has granted Oil tanking MOGS Saldanha RF Pty. Ltd. (OTMS), a joint venture of OTGC Holdings Pty. Ltd. and MOGS Pty. Ltd., environmental authorization for a 13.2-million bbl commercial crude oil blending and storage terminal at Saldanha Bay. Ghana Oil to Spend 67% More in Bid to Top Total Fuel Sales Ghana Oil Co., the second-biggest operator of gas stations in the West African nation, will boost investment by 67 percent this year as it seeks to surpass sales of Total SAs unit in two years.

MIDDLE EAST Oil Search Plans Drilling to Study Size of Kurdistan Oil Find - Businessweek Oil Search (OSH) Ltd., Papua New Guineas largest energy producer, will drill four wells at its oil discovery in Iraqs Kurdistan region and aims to determine the size of the resource by the end of 2015.