Oil & gas news

Gazprom will delay the start up of its Shtokman gas field by three years, and plans to export half its output as LNG to Europe.

Two of the latest announcements from Africa.

Oracle Coalfields plc has announced that it has entered into two Memorandums of Understanding (MOUs) to supply its lignite to two local customers: Karachi Electric Supply Co. (KESC) and Lucky Cement Ltd.

Peabody Energy has reported better than expected results for 2009. EBITDA was US$ 1.29 billion, while revenue totaled US$ 6.01 billion on sales of 243 million t. Asia is driving demand and will continue to do so in 2010. In the US, a recovering economy is expected to increase the raise consumption of coal by 60 – 80 million t.

Fernando Luiz Zancan, Brazilian Coal Association, Brazil, provides an overview of the country's coal industry and examines its future prospects.

Chevron Australia Pty Ltd has announced successful drilling in the Greater Gorgon area in the Carnarvon Basin offshore Western Australia. The Yellowglen-1 exploration well is located in the WA-268-P permit area approximately 250 km northwest of Onslow.

Statoil has awarded Baker Hughes two year extensions on two contracts in Norway. The contracts are for the provision of drill bits, directional drilling, formation evaluation and related services on 10 - 12 rigs operating in multiple fields offshore Norway.

Westar Energy has agreed to spend approximately US$ 500 million to significantly reduce harmful air pollution from a Kansas power plant and pay a US$ 3 million civil penalty under a settlement to resolve violations of the Clean Air Act.

February 2010: Kay Sever asks if companies really understand their improvement shortfalls?

A new type of continuous barge unloader (CBU) from ThyssenKrupp Fördertechnik will be put into operation at the Bontang Coal Terminal this Spring.