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…

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