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Drilling & production

Shell shuts off Gannet Alpha oil leak

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.

 

SA extends shale ban

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 drop on hopes of swift end for Libya conflict

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.

 
 
 
 
 

Gannet problems persist

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.

 
 

President Obama announces initiative to spur growth of biofuel in US

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.

 
 

NNPC reducing stake in Brass LNG

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.