Oil & gas news

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.

Novatek, the Russian gas producer plans to send LNG shipments to Asia from its fields on the Yamal peninsula in the Arctic via the Arctic Ocean.

Rio Tinto and Vale have announced their annual results for 2009. Rio Tinto experienced mixed results with revenues from Australia dropping, while US revenues increase. Vale’s coal business remains relatively small, but will continue to develop as production ramps up in Australia and Colombia and starts in Moatize.