News Archive for Oil and Gas News

Oil and Gas Job Search building on US presence – aiming to double client base within 6 months

Thursday, Apr 28, 2011
Online job site, Oil and Gas Job Search, is marking its intent to make a greater impact in the US with its first appearance at the Offshore Technology Conference (OTC) in May.
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Aker Solutions wins construction contract for pipe mill in US

Aker Construction, Inc., a subsidiary of Aker Solutions, has been awarded a contract for the installation of the new V & M seamless pipe mill in Youngstown, Ohio, US. The contract for supply of materials and installation of the mechanical, electrical and piping for the project commences immediately. Contract value is undisclosed. Read more…

Magellan Midstream Raises quarterly cash distribution

The board of directors of Magellan Midstream Partners, L.P. (NYSE: MMP) has increased the partnership’s quarterly cash distribution to 77 cents per unit for the period Jan. 1 through March 31, 2011, representing 36 distribution increases since its initial public offering in 2001. Read more…

Texas American resources company announces completion of farmout in the Eagle Ford Shale

Texas American Resources Company (“TARC” or the “Company”) today announced that its affiliate TARH E&P Holdings. L.P. (“TARH”) has completed a farmout on a portion of its Eagle Ford and Buda acreage in South Texas.  This transaction is strategically important as it will allow the Company to develop a portion of its lease acreage that was otherwise subject to continual drilling obligations or primary lease term expirations.  If all options in the farmout agreements are exercised, TARH would farmout 50% of its interest in approximately 6,075 leasehold acres prospective for the Eagle Ford and Buda formations.  All of the consideration in the transaction is in the form of a drilling carry. The drilling carry will fund the majority of the Company’s 2011 South Texas capital expenditure budget. Read more…

Shell profits rise on higher oil prices

Royal Dutch Shell has announced a 41% increase in first quarter profits on the back of higher world oil prices. Read more…

Samsung Group to spend US$7 billion to build green energy complex

South Korea’s Samsung Group said on Wednesday that it would invest 7.6 trillion won ($7.01 billion) from 2021 to build a green energy industrial park in the country producing wind power generators, solar batteries and energy storage systems. Read more…

Yingli Green Energy establishes regional Headquarters for Southeast Asia in Singapore

Yingli Green Energy Holding Company Limited (NYSE: YGE) (“Yingli Green Energy” or the “Company”), a leading solar energy company and one of the world’s largest vertically integrated photovoltaic manufacturers, which markets its products under the brand “Yingli Solar,” today announced the establishment of its regional headquarters inSingapore. Read more…

centrotherm consortium signs order to construct solar factory in Algeria

ABlaubeuren, Germany – A consortium consisting of centrotherm photovoltaics AG and Kinetics Germany GmbH signed an agreement with state utility Société Nationale de l’Electricité et du Gaz (Sonelgaz) to construct an almost fully integrated solar module factory in Algeria. Read more…

IFC Invests in India’s Gamesa to Support Cost-effective Wind Turbine Assembly

Chennai, India – IFC, a member of the World Bank Group, is providing an €11 million loan to India’s Gamesa Wind Turbines Pvt. Ltd to help build a wind-turbine assembly facility that will help diversify India’s energy mix and reduce its greenhouse-gas footprint while addressing energy needs. Read more…

Tata Power commissions 3 MW solar power plant in Maharashtra

Spread over 12 acres of land and situated near Pune, the eighth largest metropolis in India, Tata claims that this is the first and largest solar photovoltaic (PV) power plant in Maharashtra, and one of the largest in India. Read more…

Jumbo Offshore to install protection structures for Laggan & Tormore

In June 2011, Jumbo’s DP2 Offshore Heavy Lift Vessel Fairplayer will install 4 subsea protection structures for production flowlines at 600 m water depth in the Laggan & Tormore fields. These gas condensate fields, owned by Total and Dong Energy, are located 125 km north-west of the Shetland Islands. This region contains approx. 17% of the remaining UK oil and gas reserves. The subcontract, commissioned by client Allseas, will combine transport and installation, Jumbo Offshore’s hallmark.
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INPEX announces agreement on Vladivostok LNG joint study

INPEX CORPORATION is pleased to announce that the Company Japan Far East Gas Co., Ltd., newly established by INPEX, ITOCHU Corporation (hereinafter “ITOCHU”), Japan Petroleum Exploration Co., Ltd. (hereinafter “JAPEX”), Marubeni Corporation (hereinafter “Marubeni”) and ITOCHU Oil Exploration Co., Ltd. (hereinafter “CIECO”), has signed an agreement (hereinafter “Agreement”) on the implementation of a joint study (Joint Study) for the natural gas utilization project in Vladivostok area with Russia’s state-owned gas company Gazprom (hereinafter “Gazprom”). The Agreement was signed on 25 April, 2011 in Moscow, Russia. Read more…

GE completes acquisition of John Wood Group PLC’s well support division, increasing position in enhanced oil recovery and shale gas production

GE (NYSE: GE) is pleased to announce it has completed the strategic acquisition of John Wood Group PLC’s Well Support Division, expanding GE Oil & Gas’ extensive drilling and surface manufacturing and services portfolio. Read more…

Central Petroleum announces six billion barrel Devonian Reef/Platform Carbonate Oil Plays interpreted in Pedirka Basin

In line with the Company’s focus on liquids exploration and potential exploitation for early cash flow, Central Petroleum Limited (ASX:CTP) (“Central“) has pleasure in releasing CTP Technical Note 11.04.27, “Devonian Reef/Platform Complex Oil Plays Underlying the Pedirka Basin”. Read more…

Marathon Oil, Nexen agree to jointly explore shale acreage in Poland

Marathon Oil Corporation (NYSE: MRO) announced today that it has signed an agreement with a wholly owned subsidiary of Nexen Inc. under which Nexen will acquire a 40 percent working interest in 10 of Marathon’s concessions in Poland’s Paleozoic shale play. Read more…

Statoil announces new light well intervention vessel

Statoil has awarded Island Offshore a framework agreement for a new light well intervention (LWI) vessel on the Norwegian continental shelf (NCS). Read more…

Ground-breaking of new LCEC Power Plant in new Mexico supplied by Wartsila

Ground-breaking of the 46.7 MW Lea County Electric Cooperative, Inc. (LCEC) Generation Plant, located in Lovington, New Mexico, takes place today with a ceremony at the future plant site. The principal guests and main speakers will be U.S. Congressman Steve Pearce and State Senator Carroll Leavell. Additional speakers and attendees include Brian Elwell, Burns and McDonnell, Brian Hobbs, Western Farmers Electric Cooperative, Inc, Gary Hurse, LCEC, and Wayne Elmore, Wartsila, as well as senior representatives of Wartsila. Wartsila is the supplier of the power plant and a leading global supplier of flexible power plants and services to the global power generation market. Read more…

BioSolar launches BioBacksheet volume sampling program

BioSolar, Inc. (OTCBB: BSRC), developer of a breakthrough technology to produce bio-based materials from renewable plant sources that reduce the cost of photovoltaic (PV) solar modules, reported that the company recently launched a volume sampling program intended to shorten the preparation time for PV panel manufacturers prior to submitting their PV panels for Underwriters Laboratories Inc. (UL) certification or recertification under UL1703. Read more…

Juhl Wind, Inc. announces recent receipt of $1.8 million development fee related to completion of two, 20 megawatt wind farms

Juhl Wind Inc. (OTCBB: JUHL, the “Company”), the Leader in Community Wind Power, today announced the receipt, last week, of its final $1.8 million in fees related to the full completion of construction, operation start-up and commissioning of the Adams and Danielson wind farms located in Meeker County in West Central Minnesota, representing nearly 40 MW of wind power generation.  Each project cost approximately $42 million and both were completed and put into commercial operation in mid-March 2011.  The projects were completed on time and under budget.  Juhl served as the developer and owner’s representative for the construction and commissioning phase of the projects.  Juhl’s total development fee and construction services revenue for the projects was approximately $4.7 million and virtually all amounts have been collected to-date, most of which has occurred in the last three and a half months. Read more…

Pattern Energy and Samsung Renewable Energy acquire wind power projects in Ontario

Pattern Energy Group LP (Pattern) announced today that it has partnered with Samsung Renewable Energy to acquire wind power projects in Ontario from ACCIONA and Boralex. These projects will be combined with Pattern and Samsung’s larger South Kent Wind Farm, which is under development. The 270 megawatt (MW) wind farm, located in the Regional Municipality of Chatham-Kent, is estimated to produce enough electricity each year to power more than 73,000 local homes. Read more…

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