MMS: 60 platforms confirmed destroyed by hurricanes — The major hurricanes, Gustav and Ike, destroyed 60 rigs in the U.S. Gulf of Mexico last summer, the U.S. federal Minerals Management Service has confirmed. [Source: Energy Current] Democrats eye oil market regulation — According to an analysis piece in the Francisco Chronicle, House and Senate Democrats will likely call for...
Energy Industry Archive
November 2008
Shell hones Iraq oil pitch — As Iraq’s Oil Ministry makes ready to issue new exploration permits next year, Royal Dutch Shell is examining possible oilfield projects in that war-ravaged but settling nation. Iraq expects to award contracts by June, 2009. It will be the first oil-licensing round since the U.S.-led invasion in 2003. [Source: Bloomberg] Shell inks huge liquefied natural gas...
The Company: Suntech Power Holdings, a Chinese solar energy company. The Filing: FORM 6-K filed with the SEC on November 20, 2008. The Finding: Dr. Zhengrong Shi, Chairman and Chief Executive of Suntech Power, said the polysilicon pricing bubble has finally burst, with spot prices falling more than 50 percent in its third-quarter to under $200 per kilogram. Nonetheless, gross margin fell...
Oxy inks $500 million deal to develop Oman oil and gas block — Occidental Petroleum and the Mubadala Development Company of Abu Dhabi have signed an exploration and production sharing agreement with the Sultanate of Oman’s Oil and Gas Ministry. Under the terms of the agreement, Oxy and Mubadala will develop four existing gas fields and explore a new block in Northern Oman. The 20-year...
The Company: Hornbeck Offshore, provides offshore supply vessels to the energy industry. The Filing: FORM 10-Q filed with the SEC on November 11, 2008. The Finding: Hornbeck Offshore does not believe that short-term fluctuations in energy prices will affect the long-range investment plans of major oil companies, and remains upbeat on long-term prospects for day rate pricing of its offshore...
Oil companies must think globally but bank locally in Indonesia — Starting next month, oil and gas companies doing business in Indonesia will have to use local banks for transactions, the Indonesian government has ordered. The move is designed to help the flagging Indonesian rupiah and could bring in around $11 billion to the country in 2009. [Source: Rigzone] Sasol strikes pay dirt off...
The Company: Transocean, the world’s largest offshore drilling contractor. The Filing: FORM 10-Q filed with the SEC on November 6, 2008. The Finding: Transocean believes most of its deepwater drilling projects remain economically viable at $60 oil and the company reports seeing no change in interest from its customers regarding additional deepwater capacity, or renewal of existing...
Although a major part of the economy and energy mix in Brazil, sugar has struggled in the United States recently. But prominent sugar farmer U.S. Sugar hopes to help reverse its fortunes by calling in Coskata, a cellulosic ethanol startup whose investors include General Motors, to build a fuel plant near its fields. Sugar, of course, is best known as a fuel for humans, going into most modern...
Repsol, Husky, Petro Canada team to explore offshore Canada — Partnering with Canadian firms Husky and PetroCanada, the Spanish oil and gas producer, Repsol, has bought exploration rights off the shores of the Canadian islands of Newfoundland and Labrador. Repsol has bought minority stakes in three exploration blocks spread over about 2,500 square miles, which drew bids worth some $23.5...
Now that the EPA has finally been forced to acknowledge CO2 as a pollutant, plans for new coal plants are in limbo, and clean energy backers are happily talking up ideas to replace dirty fuels with wind, solar and other renewables. But wise greens might wait to start counting their victories until the eggs they’ve laid hatch; abruptly killing coal might not be as beneficial as many...
- Geoengineering Gets a Hearing in Congress -- and in the U.K., Too
- Lobbyists Accused of Blocking Climate Change Efforts
- Boxer Rolls Political Dice, Climate Bill Moves Onto Senate Floor
- Fossil Fuel Resource Leader? U.S. is No. 1 in World, Thanks to Coal
- Mariah Power Taps into iPhone App Cachet to Promote Wind Energy
- Buffet Bets the Farm on Strong Rail, Cheap Coal, Expensive Oil
- Week in Oil & Gas: Climate Bill Hurdles and Refining Blues
- Replacing Cars With Bikes? Not So Fast
- Chevron CEO O'Reilly: Refining Outlook Looks Sloppy Through 2011
- Clean Coal, a Global Failure in the Making
- First Solar: Knocked Off Course by an Acquisition
- Cow Burps OK: House, Senate Block EPA From Regulating Livestock Emissions
- Valero CEO: Climate Bill Threatens U.S. National Security
- China's Big Bet on Rail Transportation
- Week in Oil & Gas: Foreign Oil Sands Grab and Climate Shenanigans
- Week in Renewables: Glowing and Grim Reports, a New Bank, and Big Wind
- Sue Big Oil Over Global Warming? Court Tells Katrina Victims, Yes You Can!
- Clinton: Energy Efficiency Is Not Sexy, But Important Low-Hanging Fruit
- Geoengineering: From Crackpot Theorizing to Excuse Du Jour
- Clean Coal, a Global Failure in the Making
- Week in Renewables: Obama vs. Public Opinion, and New Energy Bets
- Wind Power Poised For a Possible Fast Recovery
- Boxer Rolls Political Dice, Climate Bill Moves Onto Senate Floor
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- Clinton: Energy Efficiency Is Not Sexy, But Important Low-Hanging Fruit
- Boxer Rolls Political Dice, Climate Bill Moves Onto Senate Floor
- Carbon Offsets: The Next Cash Crop for Farmers?
- Valero to Shutter Some Refinery Operations, Cut Hundreds of Jobs
- Canada Starts Doling Out Carbon Capture Dollars
- Big Three Automakers, Michigan Nab Bulk of U.S. Battery Grants
- POET CEO: Future of Second-Gen Biofuels Depends on E15
- Laureate Effect: Will a Nobel Prize In Obama's Hand Help or Hurt the Climate Bill Cause?
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