Oil & gas news
Riversdale to raise AU$337 million for Benga coal project
Riversdale Mining is set to raise AU$337 million to accelerate development of the Benga coal project, as well as explore the company’s other Mozambique tenements. The project has a production target of 20 million tpa by 2013.
Teekay LNG raising funds
Teekay LNG is raising funds by offering 1.7 million shares for sale.
BP buys out Verenium
BP has agreed to buy Verenium’s cellulosic biofuels business for US$ 98.3 million.
DOE releases report on the impact of Recovery Act
The US Department of Energy has released a report that outlines the economic impact of the Recovery Act in advanced batteries and vehicles.
BP stops oil leak in Gulf of Mexico
For the first time since 20 April, oil has temporarily stopped leaking into the Gulf. BP is awaiting well integrity results to see how much pressure the well can endure.
The National Ocean Industries Association (NOIA) has criticised the new drilling suspensions in the Gulf of Mexico
The NOIA has criticised the new suspensions for being overly restrictive on their industry and the lack of consultation before its implementation.
Tax return: reinstatement of the Kazakh oil export duty motivated by domestic political uncertainty
Political uncertainty and renewed confidence in Kazakhstan’s investor appeal has led to the reinstatement of Kazakh oil export duty to squeeze foreign investors’ profit margins.
GTL Energy commissioned its first coal-upgrading plant
GTL Energy has successfully commissioned it’s first coal-upgrading plant in North Dakota, the plant processes low-rank coal to produce low moisture, high energy briquettes.
Emiratisation in the energy sector
ADIPEC partners with Abu Dhabi Tawteen Council to foster Emiratisation in the energy sector
Solar cell and module market generates US$ 7.1 billion in Q2 2010
According to research by IMS Research, the solar market generated US 7.1 billion in Q2 2010 and they are predicting a further rise in Q3 2010.