November 17, 2010 Leave a comment
July 29, 2010 Leave a comment
15th June 2010
Visitors to the Nigerian village of Kpor, deep in the Niger Delta, are greeted by strange sights: silver frogs blink from gleaming puddles, sunlight bounces from an eerie black lake, and dragonflies hover over cauldrons of tar. Read more of this post
July 21, 2010 Leave a comment
A weather system over the Caribbean Sea is being watched closely by US officials hoping to soon permanently close the ruptured oil well in the Gulf of Mexico. Read more of this post
July 17, 2010 Leave a comment
British energy giant BP is speeding up the sale of up to 20 billion dollars (15.5 billion euros) of assets in a bid to boost funds after the Gulf oil spill, the Financial Times reported Friday.
The company is finalising details of the sales, including the disposal of American assets to Apache Corporation worth up to 12 billion dollars, said the paper, citing people close to the situation. Announcements are expected in the next few weeks and an unnamed senior BP figure said the company could “easily” raise 20 billion dollars from the asset sales, according to the report. This is double the amount the oil giant originally said it wanted to sell off when it announced plans to offload assets last month.
BP is seeking to build up a disaster fund of 20 billion dollars to cover the clean-up costs for the disastrous oil spill. The news came as BP said Thursday it had stopped oil flowing into the Gulf for the first time in three months and was beginning key tests hoping to stem the spill for good.
A sale to US oil and gas firm Apache would include a stake in Prudhoe Bay, the largest oil field in North America, according to reports. Apache has done smaller deals with its British rival in the past but acquiring a stake in Prudhoe Bay would be a major coup.
BP also wants to sell some or all of its 60-percent share in Pan American Energy of Argentina, valued at nine billion dollars, said the FT. A deal with Royal Dutch Shell to buy BP’s minority stake in the Mars field in the Gulf of Mexico is also on the cards, added the paper.
The Gulf oil spill, the worst environmental disaster in US history, started on April 20, with an explosion on the BP-leased Deepwater Horizon rig which sank two days later.
It has so far cost the company some 3.5 billion dollars and compensation claims from devastated residents of the region could reach 10 times that.
July 14, 2010 Leave a comment
In a desperate attempt to stop a huge area of the Gulf ocean floor from possibly rupturing due to subterranean methane gas (leading to a calamity no human has ever seen) BP has ripped a page from science fiction books. Read more of this post
May 17, 2010 Leave a comment
Mainstream news are now reporting a massive environmental disaster in the Gulf of Mexico than previously perceived. Read more of this post
May 11, 2010 2 Comments
Reports about the massive Gulf of Mexico oil spill have been largely underestimated, according to commentators, including Paul Noel, a Software Engineer for the U.S. Army at Redstone Arsenal in Alabama. Read more of this post
May 6, 2010 2 Comments
Despite today’s success in plugging one hole, a pipe damaged by the sinking of BP’s Deepwater Horizon rig two weeks ago continues to leak 760,000 litres of oil daily into the Gulf of Mexico from two breaches. Read more of this post
March 15, 2010 Leave a comment
Opec fears that its grip on the global supply of oil is being threatened by the rising output of Iraq’s oilfields and the prospect of billions of dollars of multinational investment in the world’s leading untapped oil resource. Read more of this post
March 6, 2010 Leave a comment
Even before Ghana goes partying over its latest discovery of oil in deep waters offshore in the Western Region, La Cote d’Ivoire, Ghana’s Western neighbour, is said to be laying claims to portions of the oil field. Read more of this post
October 18, 2009 Leave a comment
A Saudi Arabian oil company is reportedly being sued for 160,000 pounds for causing the death of a camel that was a beauty pageant contestant.
The camel was grazing in a desert pasture about 150 miles west of Ahsa when it fell into a large hole dug to store crude oil.
Now, the camel’s owner Abdullah al-Saiari, is suing the oil giant Saudi Aramco seeking 160,000 pounds in compensation for his three-year-old black camel.She was part of the Camel Beauty Contest,” the Telegraph quoted Saiari as telling the Saudi Gazette. Read more of this post
June 25, 2009 Leave a comment
Russian President Dmitry Medvedev began a historic visit to Nigeria yesterday to seal strategic gas and nuclear energy deals with Africa’s energy-rich powerhouse.
He is on the longest African tour taken by a Kremlin leader to discuss joint energy projects and ultimately boost Russia’s clout on the continent.
June 25, 2009 Leave a comment
Barbados’ government and BHP Billiton are finalising contract details for blocks awarded in January, an official from the Caribbean country’s finance, economic affairs and energy ministry told BNamericas.
The company was awarded offshore blocks Carlisle Bay (2,498 sq km/964.5 sq miles) and Bimshire (2,506 sq km/967.6 sq miles). Melbourne-headquartered BHP Billiton was one of three groups that submitted bids in September for the round, where 24 offshore blocks ranging from 790 to 5,025 sq km (305 to 1,940 sq miles) were offered.
The goal is to have a contract signed by end-July, according to the ministry’s natural resources division head André Brathwaite. Read more of this post
June 11, 2009 Leave a comment
Oil prices rose for the third consecutive day today as the International Energy Agency (IEA) published its most upbeat data for 10 months and suggested the global recession might be past its peak.
In its closely watched monthly survey, the Paris-based agency said that global oil demand would fall by 2.9 per cent to 83.3 million barrels a day this year, a less severe fall than it predicted last month.
In May, the IEA was expecting a 3 per cent annual fall in demand, the sharpest rate of decline since 1981. Read more of this post
June 10, 2009 2 Comments
Even as it proceeds with plans to spend upwards of $155 million to construct a natural gas pipeline to its sister island of Tobago, Trinidad says it is still considering an extension of the line onward to Barbados.
The pipeline from Trinidad to Tobago is due for startup by first-quarter 2011, according to Arnold De Four, vice-president for commercial services of Trinidad and Tobago’s National Gas Co. (NGC).Barbados’ plans
The island nation has considered offshore drilling since the 1990s, when a study by Conoco Inc. noted promise in nearby areas. Barbados solicited its first bids in 2007, eventually offering 26 offshore blocks for oil and gas exploration in 2008..
Meanwhile, De Four said Trinidad is awaiting a goahead from the Barbados government, which is concerned about the project’s financial viability, on the proposal to extend the pipeline to Bridgetown. Read more of this post