Business & Finance
USA: Cameron Announces Third Quarter Results
Cameron reported net income of $164.5 million, or $0.67 per diluted share, for the quarter ended September 30, 2011, compared with net income of $148.7 million, or $0.61 per diluted share, for the third quarter of 2010. The third quarter 2011 results include pre-tax charges of $34.2 million, or $0.1
Azerbaijan, Turkey Pen Shah Deniz Natural Gas Deals
The Republic of Azerbaijan and the Republic of Turkey have signed a number of key gas export related agreements to enable Turkey to buy gas from Azerbaijan and to transit Azerbaijan gas through Turkey to Europe. The documents signed in Izmir (Turkey) on Tuesday, October 25, included an Intergovernme
More Natural Gas Discoveries for Chevron, Offshore Australia
Chevron Corp. today announced further drilling success by its Australian subsidiary in the Carnarvon Basin offshore Western Australia, Australia’s premier hydrocarbon basin. The Acme West-1 well encountered approximately 377 ft (115m) of net gas pay, while Acme West-2 well encountered 184 ft (56m) o
USA: Gulf LNG Terminal Officially Opens
GE Energy Financial Services, a unit of GE, announced today that its co-owned Gulf LNG regasificationand liquefied natural gas storage facility on the Gulf of Mexico has successfully begun operations. GE made the announcement at a ribbon-cutting ceremony at the facility in Pascagoula, Mississippi, j
Germany: Tognum Supervisory Board Gets New Members
The Supervisory Board of propulsion and energy systems specialists Tognum has four new members. All shareholder representatives now come from majority shareholders Rolls-Royce and Daimler, which hold 98.8% of Tognum’s capital through Engine Holding GmbH. The resulting composition of the Supervisory
Germany: Brunsbuttel Ports, Gasnor Agree on Bunkering Vessels with LNG
On 18.10.2011 Brunsbüttel Ports GmbH and Gasnor AS (LNG market leader in Norway) agreed on bunkering vessels with LNG in the Elbehafen at Brunsbüttel, Germany. With this important step they are leading the way in offering LNG fuel at Brunsbüttel and the Northern German area, at the crossing of the r
UK: Inocean to Assist Statoil in Concept Study for Bressay Field Development
Inocean will be assisting Statoil in a concept study for the development of the Bressay Field in the UK sector of the North Sea, west of Norway’s Frigg Field. Statoil acquired operatorship of the Bressay and the neighboring field Mariner in 2007 as a link in its involvement with offshore heavy oil.
RV Polarstern on 28th Antarctic Expedition
On Friday, 28 October 2011 the research icebreaker Polarstern sets off on its 28th Antarctic expedition. Over 200 scientists and technicians from research institutions in 14 countries will take part in the five expedition legs. They will examine a wide variety of topics: oceanography and marine chem
USA: Hercules Offshore Posts USD 17 Million Loss in 3Q 2011
Hercules Offshore, Inc. today reported a loss from continuing operations of $17.0 million, or $0.12 per diluted share, on revenue of $163.0 million for the third quarter 2011, compared with a loss from continuing operations of $16.1 million, or $0.14 per diluted share, on revenue of $157.6 million f
UK: Rolls-Royce Achieves Milestone in Tidal Energy Technology Deployment
Rolls-Royce, the global power systems company, has achieved a significant milestone in the deployment of tidal energy technology with confirmation that its prototype tidal turbine, located subsea off the Orkney Islands, Scotland, has successfully generated and fed over 100 megawatt hours (MWh) of el
Germany: SolarWaterWorld, SkySails Introduce Emission-Free Solar Yacht
A yacht dream is coming true: The emission-free solar yacht with towing-kite propulsion will be developed and built by the solar ship manufacturer SolarWaterWorld AG from Berlin in close cooperation with the Hamburg-based technology leader SkySails GmbH. A cooperation agreement which includes a seve
UK: Nexen Receives Approval for Golden Eagle Area Development
Nexen Petroleum UK Ltd., a subsidiary of Nexen Inc., announced it has received approval from the UK Department of Energy and Climate Change (DECC) to proceed with the Golden Eagle area development – a GBP 2 billion (C$3.3 billion) investment (GBP 750 million net to Nexen) that is expected to produce
UK Gov’t Approves USD 3.3 Billion Golden Eagle Development
Nexen Petroleum UK Ltd., a subsidiary of Nexen Inc., announced today it has received approval from the UK Department of Energy and Climate Change (DECC) to proceed with the Golden Eagle area development – a GBP 2 billion (C$3.3 billion) investment (GBP 750 million net to Nexen) that is expected to p
Russia: Nord Stream Receives Strong Support from Banks
Nord Stream today confirmed it has agreed repricing arrangements with its relationship banks for the 3.9 billion euro Phase I project finance facilities. Nord Stream undertook this exercise in order to bring Phase I pricing into line with the pricing it achieved for the 2.5 billion euros raised for