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Demand for subsea vessels is projected to make a strong recovery as confidence returns to the industry and more deepwater projects are sanctioned.

A group of US businesses and business groups, including API, have written a letter to President Obama asking him to intervene in the implementation of stringent new standards.

The Securities and Exchange Commission has sent a subpoena to Exco Resources demanding that they hand over documents which prove actual well production and reserve estimates.

Hunting PLC, the international energy services group, has agreed to acquire TSI Acquisition Holdings LLC and its subsidiaries including Titan Specialties, Ltd. for a total consideration of US$ 775 million (approx £475 million).

The American Public Gas Association comment on the Environmental Protection AgencyÂ鶹´«Ã½Ó³»­™s propositions to amend the greenhouse gas reporting rule.

As Burma and China improve their resources development partnership, concerns have arisen over the impact such the joint ventures will have on conflict and stability in the region.

Israel's National Planning Council has given final approval for a plan to establish a floating LNG terminal off its Mediterranean coast.

API CEO releases a statement in support of budget negotiators of the bipartisan debt ceiling bill, which passed through Congress on August 2nd.

Penn Virginia Corp. is to sell all of its Arkoma Basin properties, together with certain other Mid-Continent properties, to an undisclosed buyer for US$ 30.5 million in cash.

Holly Energy Partners has announced two expansion projects to provide 60,000 bpd of additional crude pipeline take-away capacity resulting from increased Delaware Basin drilling activity in southeast New Mexico.

Baker Hughes announced it has completed its first unconventional hydrocarbon shale hydraulic fracturing and stimulation project in Argentina for Repsol YPF in the Neuquén basin.

Oil ministers for Iraq, Syria and Iran have signed an Mou for the construction of a gas pipeline to transfer Iranian gas to Europe.

The Baker Institute has released a report entitled Â鶹´«Ã½Ó³»­˜Shale Gas and U.S. National SecurityÂ鶹´«Ã½Ó³»­™, which outlines the positive geopolitical consequences that shale gas could bring for the US.

ItalyÂ鶹´«Ã½Ó³»­™s Ministry of Economic Development has given the final approval for the construction of a regasification terminal to be constructed by Api Nova Energia offshore of the town of Falconara Marittima. The new project is worth approximately €200 million and is estimated to commence in 2015.

The latest EIC Monitor tracking new active and future projects across the global energy industry shows a mixed bag of results this quarter with power leading the way while other sectors are slightly down.