Oil & gas news

Israeli Prime Minister Benjamin Netanyahu has stated that Israel is prepared for possible disruptions in its natural gas supplies from Egypt, following the recent unrest in the country that supplies a quarter of its energy needs.

The South African Chamber of Mines has hit back after Eskom, the country’s state-owned utility, criticised coal quality and supplies, accusing the miners of chasing higher profits by favouring exports.

The disruption to coal production in Australia is prompting power producers to seek elsewhere for their coal supplies.

Canadian Quantum Energy Corporation announces that the Company and its partner have successfully finished the drilling of the horizontal well, DRUMLIN CD QUANTM CYN-PEM 14-2-52-11.

AGR Petroleum Services has confirmed it has entered into a Letter of Intent with Awilco Drilling Limited to provide well management services in the UK North Sea.

GE Oil & Gas has announced two contracts to supply subsea systems in the North Sea and Brazil

Technip, in a consortium with Daewoo Shipbuilding & Marine Engineering Co. Ltd, has been awarded the FEED contract for an FLNG unit by Petronas and MISC Berhad.

The latest EIC Monitor tracking new active and future projects across the global energy industry shows a slight downturn this quarter (Q4: October – December 2010), with the total value of project announcements down nearly 8%.

Chesapeake has entered into a partnership with CNOOC Ltd, whereby CNOOC will purchase a 33.3% share in its Denver-Julesburg and Powder River Basins acreage.

ExxonMobil Neftegas Ltd has successfully drilled a 7.67 mile long extended reach well at the Sakhalin-1 project, setting a new world record in the process.