VENTURE CAPITAL POST

Crude oil futures rebounded on Friday, with Brent heading for its biggest monthly gain since May 2009, as supply outages in North Sea and renewed fears of gas supply disruption in Europe supported prices.

Eastern Canada has joined a race to export North America's vast natural gas riches to energy-hungry markets overseas, with four projects betting the far-flung Atlantic provinces will be the easiest route to Europe and India.

Europe's oil majors will strike a sober note in their fourth-quarter results and investors will focus on companies' plans to maintain cherished dividends and their strategies to cope with the oil prices collapse that caught many unawares.

Spanish oil firm Repsol (REP.MC) is set to accelerate a $10 billion acquisition drive to take advantage of lower U.S. shale valuations in the face of falling oil prices and eventually fill a gap left by the 2012 seizure of its Argentine business.

Repsol Chairman Antonio Brufau insisted on Tuesday that the government of Argentina should offer a compensation package that will convince the Spanish oil firm to settle the expropriation of its stake in energy firm YPF.

A final deal between Repsol and YPF on compensation for the seizure of the Spanish oil major's stake in its Argentine counterpart is likely before the year-end, a Pemex board member at Repsol said in an interview on Saturday.

On Wednesday, sources disclosed that the board of directors of Spanish oil major Repsol will resolve to agree on compensation for its 51% ownership stake in YPF, of which the latter will be nationalized by the government of Argentina.

Repsol Chairman told Bloomberg in an interview that the oil producer is willing to acquire assets in US, Canada and Northern Europe. The company is willing to spend up to USD 10 billion for the acquisitions.

State oil company PDVSA and Spain's Repsol had been in talks regarding a venture funding in Venezuela, said a report from Reuters.

The consortium comprising of Indian Oil, ONGC Videsh and Oil India, as well as Repsol SA, would not be exercising the right of pre-emption of the vacated shares in the oil project previously owned by Petronas of Malaysia.

Repsol is considering to sell its 30% stake in Gas Natural Formosa worth Eur 4.5 billion but holds it off until deal with Shell is finalized.

On Wednesday, Repsol’s board of directors announced that it has rejected a noncash offer from YPF valued at US$5 billion.

Spain's Repsol will look into a non-cash offer over the expropriation of its majority stake in energy firm YPF, a source said.