Drilling & production - 18 April 2012

The UK and Japan have agreed a Framework on Civil Nuclear Cooperation, providing the basis for UK companies to engage in multi-billion pound decommissioning opportunities in Japan.

The Department of Energy and Climate change has granted TOTAL consent to drill a relief well to tackle the Elgin gas leak after a full environmental assessment.

Ritchie Bros. Auctioneers, one of the world’s largest industrial auctioneers, is due to sell more than 1600 industrial equipment items and trucks to the highest bidders in an unreserved public auction held in Moerdijk, The Netherlands on the 19 - 20 April.

President Obama has asked for greater controls, tougher rules and harsher penalties for oil traders in a bid to reduce oil market manipulation and protect consumers.

It has been revealed that the Argentinian government’s recent decision to nationalise the Repsol-owned company YPF has interrupted a non-binding takeover agreement with Sinopec valued at more than US$ 15 billion. Additionally, the Spanish government has threatened to retaliate via economic action.

Chevron is to supply Chubu Electric Power Company with 1 million tpy of LNG under a long term sales agreement from the Wheatstone LNG project.