Oil & gas news

Chevron Corporation has signed binding Sales and Purchase Agreements (SPAs) with Tokyo Electric Power Company (TEPCO) for the delivery of LNG from the Wheatstone natural gas project in Australia.

Baker Hughes announced it has completed its first unconventional hydrocarbon shale hydraulic fracturing and stimulation project in Argentina for Repsol YPF in the Neuquén basin.

Oil ministers for Iraq, Syria and Iran have signed an Mou for the construction of a gas pipeline to transfer Iranian gas to Europe.

BP has been awarded two deepwater exploration and production blocks by the Government of the Republic of Trinidad and Tobago.

BP has made a second quarter profit of US$ 5.3 billion, compared with a loss of US$ 17 billion a year ago.

API argues that the industry’s vast earnings should be viewed in the context of its power to create jobs and stimulate economic growth in the US.

Nancy Yamaguchi, Contributing Editor, provides an overview of the Latin American energy markets. The full version of this article can be found in the August 2011 issue of Hydrocarbon Engineering

The Baker Institute has released a report entitled ‘Shale Gas and U.S. National Security’, which outlines the positive geopolitical consequences that shale gas could bring for the US.

Qatargas has signed of a Heads of Agreement (HOA) to supply LNG to Petronas LNG Ltd. with 1.5 million tpa of LNG for 20 years commencing in 2013.

The American Petroleum Institute has announced that petroleum demand was up in June and the first half of 2011.