Drilling & production

Offshore wind projects in Europe have shown impressive growth in the first half of 2010 in spite of the economic crisis, however many projects are still being held back by a shortfall in investment.

BP has signed a new agreement with the Egyptian Ministry of Petroleum and the Egyptian General Petroleum Corporation to develop the significant hydrocarbon resources in the North Alexandria and West Mediterranean Deepwater concessions.

BA has entered into a partnership with Solena to acquire bio jet fuel to run it’s fleet of passenger jets.

Chevron has signed an HOA with KOGAS for LNG delivery from the Wheatstone project fro the next 20 years.

Japan has received its first LNG cargo from one of Qatar’s massive Q-Max vessels, the largest LNG carriers in the world.

Aquila Resources has completed the feasibility study for the Washpool coking coal project in the Bowen Basin, Queensland. The project will cost AU$ 320 million to develop and produce 1.6 million tpa of hard rank hard coking coal over a mine life of 25 years.

Riversdale Mining is set to raise AU$337 million to accelerate development of the Benga coal project, as well as explore the company’s other Mozambique tenements. The project has a production target of 20 million tpa by 2013.

Teekay LNG is raising funds by offering 1.7 million shares for sale.

BP has agreed to buy Verenium’s cellulosic biofuels business for US$ 98.3 million.

The US Department of Energy has released a report that outlines the economic impact of the Recovery Act in advanced batteries and vehicles.

For the first time since 20 April, oil has temporarily stopped leaking into the Gulf. BP is awaiting well integrity results to see how much pressure the well can endure.

The NOIA has criticised the new suspensions for being overly restrictive on their industry and the lack of consultation before its implementation.

Political uncertainty and renewed confidence in Kazakhstan’s investor appeal has led to the reinstatement of Kazakh oil export duty to squeeze foreign investors’ profit margins.

GTL Energy has successfully commissioned it’s first coal-upgrading plant in North Dakota, the plant processes low-rank coal to produce low moisture, high energy briquettes.

ADIPEC partners with Abu Dhabi Tawteen Council to foster Emiratisation in the energy sector