Oil & gas news

President Obama has announced that the U.S. Departments of Agriculture, Energy, and Navy will invest up to US$ 510 million during the next three years in partnership with the private sector to produce advanced drop-in aviation and marine biofuels to power military and commercial transportation.

Grizzly Oil Sands, independent oil sands company based in Alberta, Canada, has awarded a US$ 4 million plus order to Rockwell Automation and its Global Solutions team.

Nigeria National Petroleum Corp. (NNPC) is taking a US$ 2 billion dollar loan in order to unlock capital to push the project forward. The company plans to reduce its stake in the project as well.

As energy demand is rising again, the year 2011 marks a turning point in the oil & gas industry with increased investments in the entire value chain.

CJV, a joint venture comprising of Chiyoda, as JV leader, CB&I and Saipem S.p.A., has been awarded the FEED contract for the Arrow LNG plant project.

A group of US businesses and business groups, including API, have written a letter to President Obama asking him to intervene in the implementation of stringent new standards.

Ng Weng Hoong examines how Australia is recovering from and capitalising on its recent difficulties.

Statoil and its partners have discovered a high impact well in the Aldous Major South field in Norwegian waters of the North Sea.

The Indonesian Banyu Urip field in the Cepu block in East Java has achieved a major milestone with the award of the first of five EPC contracts for work on major facilities at the development, according to its operator ExxonMobil.

LUKOIL has awarded Baker Hughes a two-year contract to provide full drilling and completion services for 23 wells in the West Qurna field in southeast Iraq.