Shell announced yesterday that Shell divers had successfully closed the relief valve from which oil had been seeping on Friday August 19th. The company also defended its safety record, which has come under attack since the incident.
South Africa’s cabinet has voted to extend the moratorium on shale gas ’fracking’ for another six months until further studies can be conducted.
Oil prices have fallen sharply after news came out that rebel forces were close to victory in Tripoli, the capital of Libya. The rebels reached the city yesterday and have reportedly taken control of four fifths of the capital.
Petrofac has been declared the selected bidder on two integrated services contracts by PEMEX. The contracts cover the development of the Magallanes and Santuario blocks in Tabasco State, central Mexico.
The Ultra-deepwater drilling ship Pacific Mistral, owned by Pacific drilling S.A., has been contracted to Petrobras for three years for drilling operations offshore Brazil.
Massive opportunities for growth in the renewables market with revenues that will almost double by 2017 hitting US$ 2 billion.
Demand for subsea vessels is projected to make a strong recovery as confidence returns to the industry and more deepwater projects are sanctioned.
Shell’s Gannet platform in the North Sea is still leaking oil into the North sea and the episode does cast serious doubt over the whole North Sea operation.
August 2011: Kay Sever explains how unresolved trust issues can lead to poor execution of improvement programmes at al levels of the company.
President Obama has announced that the U.S. Departments of Agriculture, Energy, and Navy will invest up to US$ 510 million during the next three years in partnership with the private sector to produce advanced drop-in aviation and marine biofuels to power military and commercial transportation.
Grizzly Oil Sands, independent oil sands company based in Alberta, Canada, has awarded a US$ 4 million plus order to Rockwell Automation and its Global Solutions team.
Nigeria National Petroleum Corp. (NNPC) is taking a US$ 2 billion dollar loan in order to unlock capital to push the project forward. The company plans to reduce its stake in the project as well.
As energy demand is rising again, the year 2011 marks a turning point in the oil & gas industry with increased investments in the entire value chain.
CJV, a joint venture comprising of Chiyoda, as JV leader, CB&I and Saipem S.p.A., has been awarded the FEED contract for the Arrow LNG plant project.
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.