Oil & gas news

Energy Information Administration energy projections show need for policy changes, according to the American Petroleum Institute.

Peabody Energy has announced in full year results for 2012, reporting an increase in operating profits to US$ 1.59 billion. Investment in Australia will continue apace; however, the company warns of depressed conditions in the US market due to muted economic growth and increased coal-to-gas switching.

Tenaris and CRC-Evans have entered in a strategic co-operation agreement for offshore pipeline applications.

India is set to become the largest importer of coal in the world. But doubts remain over many aspects of current power sector legislation and electricity tariffs. Mike King examines the uncertainty this is creating for the power generating companies and the miners that serve them.

Polish company, Lotos, will begin drilling operations in Lithuania in the hopes of finding shale gas.

Environmental regulation of the Canadian oilsands projects is similar to other operations of comparable size and scope, IHS CERA report says.

Norwegian company, Hoegh, has won a contract for one of its soon-to-be-built LNG floating storage and regasification units.

Norway’s 22nd round of licensing sees three of the four nominated blocks located in the Barents leading to high levels of exploration interest.

The Swedish company, Lundin Petroleum, has stated that its production figures would come in near the top end of its forecast for the coming year.

As part of a scheme to speed up the expansion of the UK’s wave and tidal industry, the park will stretch from Bristol to Cornwall.