Oil & gas news

Australia’s Arrow Energy has accepted an improved takeover bid from Royal Dutch Shell and PetroChina worth a reported AU$ 3.44 billion (US$ 3.14 billion). The takeover is subject to approval by Arrow shareholders and Australian authorities.

Sharecat Solutions has secured a contract from China Oilfield Services subsidiary COSL Drilling Europe AS to support the spares management activity for its newbuild project at Yantai Raffles Shipyard.

A fundraising initiative launched by Mark Elliott, a well-known figure in the oil and gas industry, seeks to raise £1 million for two military charities, as he commits to losing 30 lbs of weight by June 2010.

Explorers from the Nord Stream consortium have discovered twelve shipwrecks off the coast of Sweden.

2010 is hopefully going to be a more productive year for the offshore sector with analysts expecting oil and gas production to return to more healthy levels during the course of the year.

Legislation to cap liability payouts in the event of a nuclear disaster has been pulled by India’s coalition government.

First Solar have become the first purely photovoltaic power company to join the Desertec Industrial Initiative.

Jurong Shipyard Pte Ltd, a wholly owned subsidiary of Sembcorp Marine, has secured a contract worth approximately US$ 130 million to carry out pre-conversion works on a very large crude carrier for Petrobras Netherlands BV.

BP has announced a US$ 7 billion transaction with Devon Energy for assets in Brazil, Azerbaijan and the US deepwater Gulf of Mexico.

Leading oil and gas executives from the APAC region meet to discuss ways of competing with production from the MENA region.