Drilling & production

The UK energy market is in danger of falling short of energy demand and needs tighter controls to ensure enough extra capacity comes online.

March 2010: Kay Sever outlines invisible barriers that can sabotage change.

Schlumberger Ltd and Smith International, Inc. have announced a definitive merger agreement in which the companies would combine in a stock for stock transaction.

One of the largest mining groups in the world, Anglo American, has announced its results for 2009. Operating profits stood at US$ 5 billion, dropping 50% on 2008. Coal operations also suffered big drops in profit, with met coal down 59% and thermal coal down 33%.

Deloitte, the business advisory firm, has produced its first ranking of UK upstream independent oil companies.

Gulfsands Petroleum plc provides an update on the company's drilling and production operations in Syria.

Peabody Energy has shipped the first coal to the new Newcastle Coal Infrastructure Group export terminal in Newcastle, Australia. The NCIG terminal is an important part of the miners plans to nearly double coal exports from Australia by 2014.

Recent news from the European downstream industry in Italy, Poland, Romania and Britain.

Wood Group has been awarded a three year operations and maintenance support services contract by Chevron North Sea Ltd (Chevron) for its Alba, Captain and Erskine fields.

Iran is seeking foreign investors and markets in a new drive to develop its natural gas reserves and establish itself as a major energy supplier.

Europe’s hydrocarbon industry now sits in a precarious position as to the future of its energy supply. Currently Europe is dependant on Middle Eastern and Russian supplies. However, Europe is predicted to become more heavily dependent on external supplies over the next decade.

ExxonMobil has announced that additions to its proved reserves in 2009 totalled 2 billion bbls of oil equivalent, replacing 133% of production.

Whilst the risk of a pirate attack on an LNG vessel transiting through the Gulf of Aden may have increased in the last few months, there are many measures that can be taken to guard against such attacks.

The Obama administration has announced a massive loan guarantee to help build two new reactors.

Rio Tinto and Vale have announced their annual results for 2009. Rio Tinto experienced mixed results with revenues from Australia dropping, while US revenues increase. Vale’s coal business remains relatively small, but will continue to develop as production ramps up in Australia and Colombia and starts in Moatize.