Oil & gas news

The latest EIC monthly report shows an upsurge in new projects for Q3 2012 while total potential investment value is up 17% on the last quarter.

South Sudan is to start pumping oil through pipelines to Port Sudan following successful discussions with its neighbour Sudan.

After investigating reports of a fresh surface sheen in the area around the site of the Macondo well, BP has reported that there are no signs of a fresh leak and that the oil may have come from the cofferdam that was used in an unsuccessful attempt to cap the well.

Shell has revealed that it has begun construction of the giant, first-of-a-kind Prelude Floating Liquefied Natural Gas (FLNG) facility.

BHP Billiton, the Anglo-Australian mining giant, has announced “robust” operating results for the third quarter, with strong performances at its Queensland Coal operations and thermal coal production “higher than all comparable periods” across the BHP Billiton Energy Coal portfolio.

Xstrata has announced its third quarter results, with coal production up compared the same quarter last year. Lower prices have hit coal earnings, however, leading the company to initiate a planned restructuring of its Australian business to bring down costs.

Brazilian mining giant, Vale, has announced its third quarter results. Coal production was down on the second quarter due to a slower pace of ramp-up at the company’s Moatize mine in Mozambique. Australian production increased on second quarter as geological conditions improved.

ExxonMobil Canada today announced an agreement with Celtic Exploration Ltd. under which an ExxonMobil Canada affiliate will acquire Celtic.

Aker Solutions is to provide 34 km of umbilicals for the Block 15\06 West Hub development project in the Angolan deepwater region.

The Norwegian Petroleum Directorate has announced that Norway produced 15% less crude in September than had been estimated and was consequently likely to miss its overall production target for 2012.