Energy Roundup: Rocky Iraq Oil Auction, BG Jumps Into U.S. Shale, Top 10 Green Cities, and More

BP, CNPC scores only contract in Iraq oil auction – Foreign companies bidding on Iraq oil contracts have shied away from the narrow terms and low price the government is willing to pay for their services. Only one of the eight contracts has been secured. BP and China’s CNPC beat out ExxonMobil and its partner Petronas to win a contract to help develop the Rumaila field. Iraq’s oil minister will send several revised bids to the cabinet for review. [Source: FT, Al Jazeera]

BG Group buys into U.S. shale natural gas field — The U.K.’s BG Group has agreed to pay $1.06 billion for a stake in EXCO Resource’sshale-rock natural gas holdings, the latest in a string of international shale gas acquisitions in the U.S. The deal gives BG a 50 percent interest in 120,000 acres in Texas and Louisiana, which includes the resource-rich Haynesville shale project. [Source: WSJ]

Top 10 green cities list includes Boston and San Francisco – Mother Nature Network’s editorial team looked at air and water quality, recycling and waste management programs, percentage of LEED-certified buildings, acres of greenspace, use of renewable energy and access to green products to come up with the top 10 green cities. Who made the list? The top five includes Eugene, Ore.; Oakland, Calif.; Boston; San Francisco and coming in at No. 1, Portland, Ore. [Source: MNN]

Dow Chemical’s algae biorefinery to produce cheap fuel — Dow Chemical will build and operate a biorefinery that uses algae to turn carbon dioxide into ethanol. The company, which is partnering with Algenol Biofuels, says it will produce the fuel for as little as $1 per gallon. The ethanol could be used to replace natural gas as the ingredient in plastic products. [Source: Detroit News]

Wind turbine prices fall worldwide – Wind turbine prices have plummeted 18 percent for contracts signed in late 2008 and 2009, according to a new price indexed launched by New Energy Finance. An easing of turbine demand, which opened up supply bottlenecks experienced in early 2008, has helped push turbine prices down. [Source: Renewable Energy World]

Enterprise Products buys TEPPCO in $3.3 billion deal — Enterprise Products, a pipeline operator controlled by a general partnership company owned by Houston billionaire Dan Duncan, snapped up TEPPCO Partners in a $3.3 billion all-stock deal that will create the largest publicly traded U.S. pipeline company. [Source: NYT]