Oil & gas news

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.

Northern Petroleum Plc, has announced that the entire Great Oolite drilled reservoir sequence in Markwells Wood-I is oil bearing above the Horndean field oil water contact of 4446 ft sub-sea level.

Original US stalwart of carbon offsets joins global exchange.