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...
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- The Kidney Stone-Climate Bill Connection
- Week in Oil & Gas: Peak Oil, a Climate-Bill Interlude and Devon's Big Sale
- About Those Anti-Nuclear Arguments: They're Dishonest
- Week in Renewables: New Emissions Targets, Ausra to Sell, Tesla IPO
- The Great Climate Change Scandal of 2009
- Sour Market: With No Buyer in Sight, Valero Closes Delaware Refinery
- PG&E Smart Meter Case is Just the Beginning
- The Technologies for a Nuclear Resurgence
- Miasole Finally Begins Shipping as Next Generation Solar Gets Investment
- Chevron's Acquisition Strategy: Small Companies Need Not Apply
- Peak Oil? Not Here and Not For Decades, CERA Study Says
- Week in Oil & Gas: Punting in Copenhagen and Gulf of Mexico Leases -- Abridged
- Week in Renewables: Changes Afoot, Solar Growth, Electric Cars and Nukes
- Start Your Engines: Suncor CEO Marks Official "Restart" in Oil Sands Growth
- The Great Climate Change Scandal of 2009
- 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!
- Clean Coal, a Global Failure in the Making
- The Technologies for a Nuclear Resurgence
- About Those Anti-Nuclear Arguments: They're Dishonest
- Boxer Rolls Political Dice, Climate Bill Moves Onto Senate Floor
- Week in Renewables: Obama vs. Public Opinion, and New Energy Bets
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- Clinton: Energy Efficiency Is Not Sexy, But Important Low-Hanging Fruit
- Trina Solar: Still Struggling to Bring Manufacturing Costs in Line With Falling Prices
- Boxer Rolls Political Dice, Climate Bill Moves Onto Senate Floor
- Valero to Shutter Some Refinery Operations, Cut Hundreds of Jobs
- Week in Oil & Gas: Climate Bill Hurdles and Refining Blues
- Spillover Effect: Another Pre-Salt Discovery in Brazil
- Canada Starts Doling Out Carbon Capture Dollars
- Natgas Conundrum: Calming Volatility Fears in Push for Clean Energy Alternative
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