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Updated: 3 years 22 weeks ago

Qatar discovers new reserves of natural gas

Mon, 03/11/2013 - 02:01
DOHA -  Key gas exporter Qatar has discovered additional reserves of 2.5 trillion cubic feet (68 billion cubic metres) of natural gas in a northern offshore field, media reported on Monday. The discovery was made in Block 4 North, in North Field at a water depth of around 70 metres (230 feet), newspapers said. The gas discovery was "made after four years of intensive exploration activities, including the drilling of two exploration wells," The Peninsula daily quoted Qatar's ener...

Libyan gas deliveries to Italy resume

Sun, 03/10/2013 - 08:20
TRIPOLI -  Supplies of Libyan natural gas to Italy via the Greenstream pipeline have resumed after a week-long interruption caused by clashes between former rebels, the Mellitah Oil and Gas company said on Sunday. "The flow of gas to Italy resumed on Saturday at a normal rate," said a source at the company, which operates a gas complex that was evacuated on March 2 after an exchange of fire between armed groups nearby. Mellitah is a joint venture company owned equally by Italian energy...

Electric cars back into the shadows at Geneva car show

Sat, 03/09/2013 - 21:19
GENEVA -  After being the starring act for several years, the electric car backed into the shadows at this year's International Geneva Motor Show as carmakers grow weary of waiting for sales to take off. Electric vehicles were not completely absent from the showrooms as the 83rd edition of the Geneva show kicked off, but no new models were unveiled and car company executives on site for the media days on Tuesday and Wednesday barely mentioned them. "Public confidence (in electric) has ...

Croatian aims for high-end niche with electric city car

Sat, 03/09/2013 - 21:18
ZAGREB -  A Croatian car buff has briefly set aside his day job of building demining and firefighting robots to satisfy his childhood dream of making a high-end electric auto he hopes will be a global hit with eco-conscious customers. The first model, a pinkish violet three-seater with gullwing doors, proudly dominates the workshop of Dok-Ing, a company run by Vjekoslav Majetic in one of Zagreb's industrial suburbs. More than two decades of experience producing robotic systems for use in ex...

Falklands oil bonanza still distant prospect

Sat, 03/09/2013 - 21:09
LONDON -  The prospect of an oil bonanza around the Falkland Islands is heightening tensions between Britain and Argentina, but commercial exploitation of reserves remains a distant possibility, industry experts say. Diplomatic friction between London and Buenos Aires has intensified since 2010, when London first authorised oil prospecting in the waters around the South Atlantic archipelago. Islanders suspect Argentine President Cristina Kirchner's often-emotional pursuit of Buenos Aires&#3...

Global Oilfield Services Industry to Top $200 Billion by 2017

Fri, 03/08/2013 - 08:32
Amsterdam -  Booming Exploration and Production (E&P) expenditure will see the global oil field services industry climb significantly in value in the near future, expects business intelligence company GBI Research. According to the firm’s latest report,  the global oil field service industry (typically defined  as any activity or service related to the finding, evaluation, development, production and abandonment of oil and gas resources) is forecast to jump in value by a massive 72...

ABB signs $260 million service contract with A/S Norske Shell in Norway

Fri, 03/08/2013 - 08:28
Zurich -  ABB, the leading power and automation technology group, has signed a service contract valued at $260 million for a period of 9 years with A/S Norske Shell to provide integrated service and support solutions for the Draugen offshore oil platform and the nearby Ormen Lange onshore gas processing plant on the west coast of Norway. The agreement includes the option of two consecutive two year contracts and covers both the oil and gas fields, as well as future expansions, tie-ins and upgrades....

SkyNRG First Jet Fuel Supply Chain To Earn Roundtable on Sustainable Biofuels (RSB) Certification

Fri, 03/08/2013 - 08:15
McLean, VA -  The RSB Services Foundation, which is responsible for the distribution and implementation of the Roundtable on Sustainable Biofuels (RSB) global sustainability standard for biofuel production, is pleased to announce that SkyNRG is the first biofuel operator worldwide to earn the RSB certification for their supply chain of renewable jet fuel including separation, blending and logistics. SkyNRG is the world's market leader for sustainable kerosene, supplying more than 15 carriers wor...

DEGER supplies 48 tracking systems free of concrete foundation for new solar park in Greece

Fri, 03/08/2013 - 08:11
Horb a.N -  A new solar park near the Greek city of Vagia Viotias was recently connected to the grid. It is equipped with 48 9000NT type DEGERtracker tracking systems with MLD technology and designed for an output of 500 kilowatts. This is already the second major order for DEGER from Greece this year. As the global leader in solar tracking, DEGER is represented with its technology in 51 countries throughout the world. This new project and lots of others around the world show: DEGER has managed to o...

Tunisia gives Ukraine firm oil exploration permit

Thu, 03/07/2013 - 12:06
TUNIS -  Tunisia's industry ministry on Thursday announced the award of an oil exploration permit to Ukrainian firm YNG Exploration Limited for the Tatouine region in the south of the country. The permit, covering the Araifa site 988 square kilometres (395 square miles) in size, covers seismic exploration and the drilling of two test wells over a five-year period at a cost of $21 million (around 16 million euros). Under the contract, signed by YNG Exploration Limited and ETAP (Entreprise T...

Brazil Congress quashes veto of oil royalty share-out

Thu, 03/07/2013 - 09:42
BRASILIA -  Brazil's Congress revived legislation that gives a greater share of the country's oil royalties to non-oil producing states, overriding a veto by President Dilma Rousseff. The decision, announced to AFP by the general secretariat of the Congress Thursday, means royalties in existing and future contracts will be shared more evenly between oil-producing and non-producing states. Last November, Rousseff vetoed an article in the law that provided for a more equitable sharing of ro...

Shifting Focus towards the Development of Oil Resources

Thu, 03/07/2013 - 08:55
Amsterdam -  SM’s crude oil production declined at a negative CAGR of 0.9% during the 2007–2010 period, although it increased in 2011. This decline has affected its operational metrics in a scenario of high imparity between crude oil and natural gas prices. As a result, the company increased the weight of crude oil in its production mix and is now involved in the development of oil-rich resources. In line with this, SM has been increasing its investments in the Permian and Rocky Mountains regi...

Ballard Signs Long-Term Engineering Services Contract To Advance Volkswagen AG Fuel Cell Automotive Research Program

Thu, 03/07/2013 - 08:46
Vancouver, Canada -  Ballard Power Systems has announced signing of an agreement with Volkswagen Group for a major Engineering Services contract to advance development of fuel cells for use in powering demonstration cars in Volkswagen’s fuel cell automotive research program. The contract term is for 4-years, with an option for a 2-year extension. The expected contract value is in the range of C$60-100 million. Dr. Juergen Leohold, Head of Group Research at Volkswagen AG said, “This research agreem...

Suntech Reaches Settlement in Connection with GSF Investment

Thu, 03/07/2013 - 08:43
Wuxi, China -  Suntech Power Holdings Co., Ltd, one of the world's largest producers of solar panels, today announced that it has settled all outstanding disputes with GSF Capital Pte Limited and Javier Romero in connection with a guarantee provided by GSF Capital to Suntech. As part of the settlement, GSF Capital will dispose of its entire ownership interest in Global Solar Fund, S.C.A., Sicar (the "Fund") for an agreed consideration and it will no longer have any ownership interest in th...

Alstom enters Canadian wind market through an agreement with NaturEner

Thu, 03/07/2013 - 08:34
Alstom and NaturEner Energy Canada Inc. (“NaturEner”) have entered into an agreement for the supply of up to 414 MW of wind turbines to be installed at NaturEner’s Wild Rose Projects in Alberta. The agreement includes 138 ECO 110 3.0 MW wind turbines, and 10 years of maintenance services. This project, amounting to around €420 million, should be booked by Alstom in the fiscal year 2013/14 as soon as Alstom receives the Notice To Proceed (NTP), which is primarily subject...

JinkoSolar Delivers First Distributed Rooftop PV System to Eaton Electric

Thu, 03/07/2013 - 08:29
SHANGHAI -  JinkoSolar Holding Co., Ltd., a leading global solar power product manufacturer, today announced that its first 100 kWp distributed rooftop photovoltaic ("PV") power generation system for Eaton Electric Co., Ltd. ("Eaton"), was successfully connected to the grid in Shenzhen, China. JinkoSolar provided 400 pieces high-efficiency PV solar panels for the project which was managed by Eaton and installed on the roof of Santak Electronic Co., Ltd.'s factory. The rooftop ...

Reduced costs with fewer employees

Thu, 03/07/2013 - 08:23
Approximately 2,500 employees might leave the company when Vattenfall has to cut costs by SEK 3 billion during 2013 and by another SEK 1,5 billion 2014. Øystein Løseth, President and CEO of Vattenfall, painted a picture of 2013 and the coming years with a low electricity demand, an oversupply of CO2-emission allowances, production overcapacity and low electricity market prices when he and Ingrid Bonde, CFO and Deputy CEO, spoke at a meeting with the Vattenfall European Works...

Coal-fired power plants making Europeans sick

Thu, 03/07/2013 - 08:17
BRUSSELS -  Emissions from coal-fired power plants in the European Union contribute to over 18,000 premature deaths a year and cost an annual 42.8 billion euros, a report from the Health and Environment Alliance (HEAL) said Thursday. The 46-page report titled "The Unpaid Health Bill", says such power plants are a key contributor to air pollution, dubbed an "invisible killer" and a major public health threat by medical experts. Figures published in the report blame the plants f...

World powers gave no ground in Almaty (Iran)

Thu, 03/07/2013 - 08:02
TEHRAN -  World powers gave no ground to Iran at negotiations in Almaty last month and only recognised some of Tehran's rights, the Islamic republic's supreme leader said on Thursday. "At the (February 26-27) meeting, the Westerners did nothing of importance that could be termed a gesture," Ayatollah Ali Khamenei said on his website. "All they did was recognise a part of the rights of Iran" to develop nuclear energy. He said the next meeting, due to take place on Apr...

EU court rejects Polish challenge to CO2 emissions system

Thu, 03/07/2013 - 07:16
LUXEMBOURG -  A top EU court rejected Thursday a challenge by Poland, heavily dependent on coal, to the bloc's controversial greenhouse gas trading system. The General Court said the European Union's allocation of free carbon dioxide credits for 2013 was fully in keeping with EU law and that the Polish complaint had no basis. The EU Emissions Trading System for CO2, the greenhouse gas widely blamed for global warming, first allocates an amount of pollution credits free to companies. If ...

   

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