Oil & gas news

The American Petroleum Institute comment on oil and natural gas being the next job and revenue growth area

Kawasaki Heavy Industries, Ltd. has been awarded a contract by Technip to supply 7 units of boilers for Shell’s floating LNG facility Prelude, the world’s first Floating LNG facility, The boilers to be supplied by Kawasaki are the largest ever in the capacity for marine use.

Chevron has signed a Sale and Purchase Agreement (SPA) with Kyushu Electric Power Co. for the delivery of LNG from the Wheatstone Project in Western Australia. As part of the deal Kyushu Electric will also acquire equity in the Wheatstone gas fields and processing plant.

The Chinese government has announced a nationwide feed-in-tariff to accelerate the development of a domestic solar energy industry and boost its solar panel production which should lead to lower global prices for panels.

Rockhopper Exploration has outlined a development plan for its Sea Lion field offshore North Falkland.

Molycorp, the Western hemisphere's only producer of rare earth oxides (REO) and the largest REO producer outside of China, is making a significant investment in Boulder Wind Power, which has designed a rare earth magnet powered wind turbine generator that can produce electricity as low as US$ 0.04 per kilowatt-hour.

Banpu plc, Thailand’s largest coal miner, has made a AU$ 423 million bid for Hunnu Coal Ltd.

AGR has been awarded a three year frame agreement with Lundin Norway AS for drilling services on the Norwegian continental shelf, plus two one year options.

There are still ongoing security issues in Libya, which are likely to slow down attempts at getting oil production back up to pre-conflict levels.

“Despite a long-term decline in oil & gas production in the North Sea, its services and support industry has a bright future,” said John Westwood, Chairman of energy business advisors Douglas-Westwood, in Aberdeen this week.