News Archive for Renewable News

Sustainable Marine Technologies Joins RenewableUK

Friday, Oct 29, 2010

Sustainable Marine Technologies (SMT), the innovative company creating practical engineering solutions for the marine renewable energy industry, has become a corporate member of RenewableUK.

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Clarification about the New Discovery in the Sergipe Basin

Petrobras clarifies news released yesterday regarding the volume of investments and hydrocarbons in the recent discovery made in the Sergipe Basin. Read more…

Nexen Announces Third Quarter Results

Nexen Inc. announces third quarter cash flow of $485 million and net income of $537 million. Quarterly net income reflects the successful sales of our heavy oil properties in Canada and our North American natural gas marketing business. Read more…

Exxon Mobil Corporation Announces Estimated Third Quarter 2010 Results

THIRD QUARTER HIGHLIGHTS

  • Earnings were $7,350 million, an increase of 55% or $2,620 million from the third quarter of 2009.
  • Earnings per share were $1.44, an increase of 47%.
  • Capital and exploration expenditures were $8.8 billion, up 35% from the third quarter of 2009.
  • Oil-equivalent production increased over 20% from the third quarter of 2009. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production was up 20%.
  • Cash flow from operations and asset sales was $13.9 billion, including asset sales of $0.8 billion.
  • Share purchases to reduce shares outstanding were $3 billion.
  • Dividends per share of $0.44 increased by 5% compared to the third quarter of 2009.
  • During the third quarter, production began from the Odoptu field, the latest development phase of the Sakhalin-1 project in Russia.
  • ExxonMobil announced the commissioning of new units to produce ultra low sulfur diesel at its Baytown, Texas and Baton Rouge, Louisiana refineries. This will enable ExxonMobil to increase the supply of ultra low sulfur diesel by over 3 million gallons a day. Read more…

Husky Receives Madura Strait Production Sharing Contract Extension

Husky Energy is pleased to announce it has received approval from the Government of Indonesia for an extension to the existing Madura Strait Production Sharing Contract (PSC), originally awarded in 1982. The Madura Strait PSC includes the Madura BD and MDA fields, as well as numerous other prospects and leads. Read more…

Patterson-UTI Energy Reports Financial Results for Three and Nine Months Ended September 30, 2010

PATTERSON-UTI ENERGY, INC. (Nasdaq: PTEN) today reported financial results for the three and nine months ended September 30, 2010. The Company reported net income of $29.4 million, or $0.19 per share, for the third quarter of 2010, compared to a net loss of $18.6 million, or a loss of $0.12 per share, for the quarter ended September 30, 2009. Revenues for the third quarter of 2010 were $379 million, compared to $160 million for the third quarter of 2009. Read more…

Foresight Group invests in large-scale solar development

It is no surprise that since the good news about the future of the UK’s feed-in tariff was revealed there have been several announcements about renewable energy projects across the country. In line with this trend, installer Solarcentury has received financial support from Investment management firm Foresight Group. Read more…

UK’s wind farm plans in disarray

Hundreds of local revolts against wind farms have jeopardised the plan to use them to generate more than a quarter of Britain’s electricity, figures seen by The Independent reveal. Read more…

Siemens concludes framework agreement with Enel Green Power for 260 wind power turbines

Siemens has concluded a framework agreement with Enel Green Power for the supply of up to 260 wind power turbines for various wind farms in Europe. The total capacity of the onshore turbines is 600 megawatts, sufficient to supply more than 350,000 European households with clean wind power. The agreement with the subsidiary of the Italian utility Enel S.p.A. provides for delivery of the turbines between 2011 and 2014 and includes an option for delivery of a further 600 megawatts of wind power turbines. Maintenance of the turbines is also part of the agreement. Read more…

Strong third quarter for Vattenfall

Increased operating profit and higher electricity generation volumes Read more…

Snyder’s of Hanover Begins Construction of Largest Ground-based Solar Farm in Pennsylvania

Snyder’s of Hanover will begin construction on a solar farm that will be the largest ground-based solar energy system in Pennsylvania with over 16,000 panels spanning twenty acres. Read more…

BG Group announces first production from 100 000 barrel per day facilities on Tupi field, offshore Brazil

BG Group today announced that production from the first permanent floating production, storage and offloading (FPSO) vessel on the Tupi field in block BM-S-11 in the Santos Basin, offshore Brazil has commenced. Read more…

Petrobras Announces First Well Drilled In Sergipe Basin

Petróleo Brasileiro S.A. – Petrobras announces that the first well drilled in ultra deep Sergipe-Alagoas Basin waters identified the presence of hydrocarbons similar to those bearing oil in deep Campos Basin waters. It is a discovery of a new oil province in the Sergipe-Alagoas Basin.

This location confirms the existence of large accumulations in the distal portions of this basin, implying that there are greater volumes than those found in the shallow water fields (Guaricema and Dourado). Profile data point to the presence of light hydrocarbons.

This well, called 1-BRSA-851-SES (1-SES-158), known as BARRA, is located in Block SEAL-M-426, in the BM-SEAL-11 concession, northeast of the Sergipe sub-basin, at a water depth of 2,341 meters, 58 km off the coast of the state of Sergipe.

Well 1-SES-158 tested deposits in an accumulation developed in an area of some 70 square kilometers. The nearest analogous field, Piranema, is located 90 km away. This well, which is still being drilled, will continue sampling older and deeper reservoirs.

After the drilling has been completed, the consortium formed by Petrobras (60% – Operator) and IBV-Brasil (40%) to explore the BM-SEAL-11 concession will continue its activities and investments by drilling other wildcat wells and preparing the Discovery Evaluation Plan to be defined by the ANP.

Source: Petrobras

Faroe Awarded Blocks in UK 26th Licensing Round Awards

Faroe Petroleum plc, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic Margin, the North Sea and Norway, is pleased to announce that it has been provisionally awarded four new exploration licences west of Shetland under the UK 26th Licensing Round, the results of which were announced by the Minister of the Department of Energy and Climate Change yesterday. Read more…

AWE’s Al Meashar-2 drilling update

AWE Limited reports that as at 0600 hours Yemen time on October 27, 2010 (-8 hours EDST) the Al Measar-2 appraisal well in Block 7, Yemen, had drilled to a measured depth of 1,716 metres and was preparing to run 13-3/8″ casing, as planned. Progress for the week was 605 metres. Read more…

Korimako-1 Exploration, Northern Taranaki / Northland Basin, New Zealand

Progress and Status

Origin Energy advises that the Korimako-1 exploration well, that spudded on 18 October 2010, continues drilling operations as planned. The well is being drilled vertically using the semi-submersible drilling rig Kan Tan IV which is being managed for Origin by Australian Drilling Associates (ADA). Read more…

SNC-Lavalin to build 335MW hydropower facility in British Columbia

Engineering and construction company SNC-Lavalin has won a $587m contract to design and build the Waneta Expansion, a 335MW hydroelectric power facility on the Pend d’Oreille River just south of Trail, British Columbia. Read more…

3TIER Releases Q3, 2010 Wind Performance Maps for Europe and North America

3TIER®, a global leader in renewable energy information services, today released wind performance maps for the third quarter of 2010 covering both Europe and North America. It is the first such map 3TIER has produced for Europe after strong interest in the analysis in North America. The maps reveal that much of North America experienced higher than average wind speeds during the quarter. Meanwhile virtually all of Europe experienced normal or below normal wind speeds with the exception of the UK and other small pockets that saw significantly elevated wind speeds. Read more…

Nevada Geothermal Power to Commence Development Drilling Program at Blue Mountain in Early November

Nevada Geothermal Power Inc. (NGP) (TSX.V: NGP, OTCBB: NGLPF) is pleased to announce further development plans for the Blue Mountain Geothermal Project. The Company has contracted Ensign Drilling to drill up to three new injection wells in areas north and south of the core production area in order to further distribute injection water. The program, budgeted at $8.4 million, is funded out of the John Hancock Senior Debt Loan backed by a DOE Loan Guarantee which closed in early September 2010. Read more…

WindTronics Launches the Honeywell Wind Turbine for Home and Business Owners in Canada

WindTronics today announced the Canadian launch of the Honeywell Wind Turbine, a breakthrough wind energy system for home and business owners featuring the revolutionary gearless Blade Tip Power System (BTPS), which is virtually resistance and friction free. The award winning Honeywell Wind Turbine has a higher performance output and lower installed cost per kilowatt than any other unit on the market today in class and size, through its ability to generate power at the tips of the blades, effectively turning the turbine into a wind generator. Read more…

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