Oil & gas news

Global prices for oil products look set to rise dramatically after the tsunami that hit Japan last week. As a result of the loss of nuclear electricity generating capacity, oil will have to be used as a substitute until the reactors can be repaired.

The Canadian National Energy Board has issued a Certificate of Public Convenience and Necessity for the 1196 km long Mackenzie Valley Pipeline, part of the Mackenzie Gas Project.

Chevron Corporation is planning on expanding its Gorgon LNG project with a fourth train to meet growing demand for the clean fuel.

A letter from Chris Huhne and EU Environment Ministers to the Guardian newspaper on 30% EU emissions cuts.

Chevron has appealed the Ecuadorean court judgment, which found it liable for environmental damage to the tune of US$ 8.6 billion.

API to White House: long term solutions require short term leadership.

After the devastating earthquake that struck Japan last week, neighbouring countries are now diverting LNG cargos to help meet the country’s energy needs and keep the lights on.

Exxon Mobil Corporation reviews 2010 while outlining plans for future projects in its annual presentation to investment analysts at the New York Stock Exchange.

Gazprom and BASF have signed a memorandum which anticipates future co-operation in the development of Achimov deposits of the Urengoy field in exchange for equivalent stakes in BASF’s North Sea assets.

American Petroleum Institute has welcomed proposed legislation that would repeal EPA’s authority to regulate GHG emissions.