Oil & gas news

Petrolifera Petroleum Ltd has made significant progress in the remediation programme at the La Pinta 1X well on its Sierra Nevada License in the Lower Magdalena Basin, onshore Colombia.

Aminex PLC has announced that the Olympia Minerals-1 well (OM-1) at Shoats Creek was spudded on 17 February 2010 using the Crown Drilling Rig No. 2.

Wood Group has been awarded a three year operations and maintenance support services contract by Chevron North Sea Ltd (Chevron) for its Alba, Captain and Erskine fields.

Peabody Energy has shipped the first coal to the new Newcastle Coal Infrastructure Group export terminal in Newcastle, Australia. The NCIG terminal is an important part of the miners plans to nearly double coal exports from Australia by 2014.

Iran is seeking foreign investors and markets in a new drive to develop its natural gas reserves and establish itself as a major energy supplier.

Europe’s hydrocarbon industry now sits in a precarious position as to the future of its energy supply. Currently Europe is dependant on Middle Eastern and Russian supplies. However, Europe is predicted to become more heavily dependent on external supplies over the next decade.

ExxonMobil has announced that additions to its proved reserves in 2009 totalled 2 billion bbls of oil equivalent, replacing 133% of production.

Whilst the risk of a pirate attack on an LNG vessel transiting through the Gulf of Aden may have increased in the last few months, there are many measures that can be taken to guard against such attacks.

The Obama administration has announced a massive loan guarantee to help build two new reactors.

A summary of two environmental issues within the oil industry.