The latest EIC Monitor quarterly report tracking new project announcements shows that the global energy industry has seen encouraging signs of growth in the first quarter of 2012.
BP has reached settlements with the plaintiffs over economic, medical and property claims brought about by the 2010 Gulf of Mexico oil spill: the total amount of compensation due to be paid is US$ 7.8 billion.
Despite international criticism and threats of economic retaliation, the Argentinian government has pressed on with its nationalisation of YPF, leaving the former owner Repsol with just a 6% share.
In a sudden escalation of rhetoric in the ongoing conflict between the two countries, Sudan’s President Omar Hassan al-Bashir declared that his country’s main goal is to liberate southern citizens from the SPLM.
Red Leaf and Total have formed a joint venture to test the viability of a new oil shale exploration technology in Utah.
Santos Q1 results show a production increase of 13% and an increase in revenue of 50%.
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.
Despite the threats of legal action and the use of diplomatic and possible economic pressure from Spain and the EU, the Argentinean government has nationalised YPF, a company in which the Spanish player Repsol had a 57.4% stake.
The Spanish government, which has a vested interest in YPF, has warned Argentina against nationalising the company and threatened to use “all its might” to defend Spanish interests.
Keppel Corp has signed a LOI for the construction of five semisubmersible rigs for Sete Brazil in a deal worth US$ 4.12 billion.