Business news

An overview of recent developments in carbon capture and storage

Statoil has been fined NOK 25 million following the oil leak from the Statfjord A loading buoy on 12 December 2007.

UN committee recommends delaying the decision to include carbon capture and storage in Clean Development Mechanism.

The annual wintertime dispute over Russian payable pipeline tariffs rears its head again; the Russia-Belarus crisis ends after an oil cut-off lasting several days.

BP Norge has awarded Aker Solutions an engineering, procurement, construction and installation (EPCI) contract for a tieback from Oselvar to the Ula platform in the North Sea. Aker Solutions estimates the contract value to be approximately NOK 450 million.

Al Shaheen is to make 50% investment in GE’s PII Pipeline Solutions business. GE Oil & Gas and Al Shaheen are to establish JV to perform aftermarket services of Turbomachinery equipment in Qatar.

The US EPA issued a statement on 7th December that confirms the findings of its investigations into greenhouse gases and human health.

A BP investigation into its Lisburne pipeline leak suggests extensive ice plugs could be to blame for excess pressure in the line.

BP is ranked 1st under ‘alternative energies’ and ‘environmental transparency’ categories of a new study on the most environmentally sustainable large O&G companies.

The US Department of Transportation has fined El Paso Corp. and its Colorado Interstate Gas Co. subsidiary a record US$ 2.3 million for violating federal pipeline safety regulations.

New research by energy analysts Douglas-Westwood predicts offshore operations and maintenance expenditure to total in excess of $330 billion over the next five years – with the largest share allocated to North America during that time.

China has withstood the ongoing recession while maintaining a healthy one-digit growth rate in 2008 (over 6%) and 2009 (over 7%) at a time when the American and European economies have contracted significantly.

West Africa has emerged as one of the hottest battlegrounds for the world’s major powers in their race to corner increasingly scarce oil and gas resources. Ng Weng Hoong details the major players vying for oil and gas resources in West Africa.

The Winter issue of LNG Industry magazine contains a regional report on the current place of LNG in the European energy mix. Here we present some of the highlights of the report.

As we near the end of 2009, all the energy sectors are starting to show signs of recovery, from nuclear power to renewables, this can be seen in the upsurge in project commissioning.