Oil & Gas Journal News

Crude oil prices dropped nearly $2/bbl for December delivery on the New York market Oct. 22 after a weekly US government report showed a larger-than-expected increase in crude oil inventories.

Chevron Corp. has made an oil discovery on its Guadalupe prospect in the deepwater Gulf of Mexico.

US Sen. Ronald L. Wyden (D-Ore.), who chaired the Energy and Natural Resources Committee before taking the Finance Committee’s helm in early February, urged the US Department of Energy to begin reevaluating the US Strategic Petroleum Reserve as the Government Accountability Office recommended in an Oct. 20 report.

The US Department of Energy has launched a 4-year, marine research project to gain a deeper understanding of methane hydrate-bearing sediments.

Alaska’s Division of Oil and Gas awarded two Beaufort Sea leases pending since 2011 and published tract maps for Nov. 19 Beaufort Sea and North Slope lease sales that accurately reflect the Arctic National Wildlife Refuge’s western boundary following a thorough review.

ExxonMobil Petroleum & Chemical BVBA has let an engineering, procurement, and construction (EPC) contract to a subsidiary of Foster Wheeler AG’s global engineering and construction group for the upgrade of a resid unit at the company's 320,000-b/d refinery in Antwerp, Belgium.

The BP PLC-led Tangguh partnership has let front-end engineering and design (FEED) contracts to two consortia for Train 3 of the $12-billion Tangguh LNG expansion project in Teluk Bintuni Regency of Indonesia’s Papua Barat province.

Convening after the sudden death of Chairman and Chief Executive Officer Christophe de Margerie, the board of Total SA has unanimously appointed Thierry Desmarest as chairman and Patrick Pouyanne as CEO and president of the executive committee.

Shell Gabon reported a natural gas discovery offshore Gabon with 200 m of net pay in a presalt reservoir.

Crude oil prices rebounded slightly on the New York market Oct. 21 as traders and analysts anticipated a build in US crude oil inventories for the week ended Oct. 17. Separately, a better-than-expected economic indicator from China also supported Oct. 21 oil prices.

Power Engineering News

Canada's AltaGas Ltd. announced its 195-MW Forrest Kerr hydropower project in British Columbia completed a 72-hour testing period required to achieve commercial operation under its power purchase agreement with BC Hydro.

Voith Hydro has announced that Bob Gallo, current executive director of the Voith Corp. Service Center in North America, will succeed Kevin Frank as president and CEO.  

PSEG Long Island has announced the appointment of Paul Napoli to vice president of power markets, effective immediately.

Department of Energy (DOE) Secretary Ernest Moniz announced that the department will invest more than $53 million for 40 research and development (R&D) projects that aim to drive down the cost of solar energy, tackling key aspects of technology development in order to bring innovative ideas to the market more quickly.

AECOM Technology Corp. (AECOM, NYSE ACM) announced the final results of elections made by former stockholders of URS Corp. (NYSE: URS) regarding the form of consideration to be received in connection with the proposed merger.

The Department of Energy (DOE) and Skyonic Corp. marked the opening of a project demonstration for converting carbon dioxide into commercial products.

Innergex Renewable Energy has received a government decree from the Quebec government for a $324 million 150-MW wind energy project.

Southern Power, a subsidiary of Southern Co. (NYSE: SO) acquired the 150-MW Solar Gen 2 facility in California from First Solar Inc. (Nasdaq: FSLR).

Just days after issuing license extensions for both reactors at the Limerick nuclear plant in Pennsylvania, the U.S. Nuclear Regulatory Commission (NRC) says it will increase oversight of the plant.