Oil & gas news

As Europe grows increasingly weary of the Russian energy dominance that its member states regularly complain about, this issue has yet to be addressed, as bilateral negotiations with Moscow are ongoing.

Total and partners have sanctioned the development of the Gladstone LNG project at a cost of US$ 16 billion.

Coal miners across North America are fighting for purchase at export terminals along the continent’s West Coast. Ports and terminals are experiencing a backlog as North American suppliers try to reach the hungry Asian coal market.

Arch Coal, Inc. today announced that it has acquired a 38% interest in Millennium Bulk Terminals-Longview, the owner of a bulk commodity terminal in exchange for US$ 25 million plus additional consideration upon the completion of certain project milestones.

Duke Energy and Progress Energy, Inc. announced today that both companies’ boards of directors have unanimously approved a definitive merger agreement to combine the two companies in a stock-for-stock transaction. The combined company, to be called Duke Energy, will be the country’s largest utility.

Saponis Investments Sp. Z o.o., a 20% owned subsidiary of LNG Energy Ltd has spudded its first exploratory shale gas well in Poland.

The Rumaila Operating Organisation (ROO) has met a major milestone in the redevelopment of the super-giant field in Southern Iraq by increasing production by more than 10% above the 1.066 million bpd initial production rate agreed in December 2009.

Seneca Resources has acquired additional acreage in the Marcellus Shale from EOG Resources at a cost of US$ 23 million.

Gazprom Marketing & Trading and Gujarat State Petroleum Corporation have signed an LNG agreement.

Granherne, a subsidiary of KBR, has been selected by GDF SUEZ Bonaparte Pty Ltd to execute the pre-FEED study for the Bonaparte LNG Project.