Business news

The Baker Institute has released a report entitled ‘Shale Gas and U.S. National Security’, which outlines the positive geopolitical consequences that shale gas could bring for the US.

Italy’s Ministry of Economic Development has given the final approval for the construction of a regasification terminal to be constructed by Api Nova Energia offshore of the town of Falconara Marittima. The new project is worth approximately €200 million and is estimated to commence in 2015.

The latest EIC Monitor tracking new active and future projects across the global energy industry shows a mixed bag of results this quarter with power leading the way while other sectors are slightly down.

BHP Billiton has bought Petrohawk for approximately US$ 12.1 billion. The transaction would provide BHP Billiton with operated positions in the three world class resource plays of the Eagle Ford and Haynesville shales, and the Permian Basin.

The UK government released its White Paper on Electricity Market Reform this week, setting forward its proposals to secure and decarbonise the UK’s electricity market. Jonathan Rowland, editor of World Coal, highlights some of the questions it raises.

Chesapeake Energy Corporation has announced investment plans to create a natural gas fuelled highway system across America and effectively reduce American dependence on OPEC whilst boosting the economy.

QGC, a leading Australian coal seam gas explorer and producer, has selected GL Noble Denton to provide verification services for the development of the Queensland Curtis LNG project, which is expected to supply more than 8.5 million tpa of LNG through the development of two LNG trains.

API CEO appeals to Obama after disappointing employment figures suggest more jobs needed for Americans.

Pipeline companies own and manage extensive right of way corridors. One of the key challenges facing such companies is getting up to date aerial imagery.

Sinopec and Henan Coal have won the rights to explore two areas, which have been auctioned off by the Ministry of Land and Resources.

McDermott has won a subsea contract for the Macedon Gas project in the Pilbara region of Western Australia.

American Petroleum Institute President calls on US President to make course correction for America’s future

BP Iraq NV (BP) has awarded Petrofac and its joint venture partner, China Petroleum Engineering & Construction Corporation (CPECC), an inspection, maintenance and repair contract worth US$ 90 million for the Rumaila oil field in Southern Iraq.

Rockhopper Exploration, the North Falkland Basin oil and gas exploration company, has announced that it has drilled a well which is now flowing at commercially viable rates.

3Legs resources has announced that it has encountered high concentrations of gas along the entire 1000m length of the Lebien LE-2H horizontal well which was drilled to a total measured depth of 4080 m in same location as its earlier Lebien LE-1 vertical test well.