Oil & Gas Journal News

A government official proposing to overhaul energy use should ground arguments in facts and present them with balance.

The US drilling rig count shot up 12 units to 1,883 rigs working during the week ended July 25, Baker Hughes Inc. reported.

Work is beginning on a platform complex in the second phase of development of Nasr oil field off Abu Dhabi.

US Sen. John Hoeven (R-SD) introduced an LNG export bill that he said represents a compromise between measures introduced from both sides of the aisle. S. 2638 would give the US Department of Energy 45 days to make a national interest determination after an export project sponsor filed an application with the US Federal Energy Regulatory Commission, Hoeven said on July 24.

Malaysia’s state-run Petronas has let a contract to Zelan Construction Sdn. Bhd., a subsidiary of Zelan Bhd., Kuala Lampur, for the basic design, detail engineering, procurement, construction, and commissioning (EPCC) of the material offloading facilities (MOLF) jetty for Petronas’ planned refinery and petrochemical integrated development (RAPID) complex at Pengerang in southeastern Johor, Malaysia.

Crude oil futures prices in New York and London markets continued to draw back July 24 from recent high levels. Analysts with Raymond James & Associates Inc. noted that investors shrugged off fears that sanctions imposed by the European Union could impact Russian oil supplies.

JSC Gazprom Neft reports that oil production from Badra field will soon be flowing into Iraq’s main pipeline system and then to the Basra export terminal.

OAO Gazprom reported that Turkey has approved the environmental impact assessment (EIA) for the South Stream gas pipeline in the Black Sea.

The Texas Petro Index (TPI), a composite index based on a comprehensive group of upstream economic indicators released by the Texas Alliance of Energy Producers (TAEP), continued to produce record highs last month amid an “economic tsunami.”

Breitburn Energy Partners LP, Los Angeles, and Houston-based QR Energy LP have signed a definitive merger agreement where Breitburn will purchase QR Energy in an all-stock transaction valued at $3 billion by the companies.

Power Engineering News

Seminole Financial Services, a national lender in renewable energy, has successfully closed $7.35 million in financing for the construction and installation of three wind projects throughout California with developer Foundation Windpower (FWP).

NextEra Energy Inc. (NYSE: NEE) today announced the appointment of Naren Gursahaney to its board of directors.

The Colorado State University’s Center for the New Energy Economy held a meeting last week in Denver to discuss how states could work together on the carbon-emission cuts proposed by the Obama administration. Thirteen states across the western U.S. attended.

Sen. Al Franken says the Obama administration may scale back projected cuts to ethanol and other renewable fuels production.

Industrial battery manufacturer, Saft, was awarded a multi-million dollar contract by Kauai Island Utility Co-operative (KIUC) to provide a Li-ion Battery Energy Storage System (BESS) consisting of 8 Intensium Max 20 M containers to stabilize the Kauai island electrical grid.

Bankrupt power giant Energy Future Holdings terminated its restructuring agreement and announced plans to auction its stake in the profitable power transmission business Oncor Electric Delivery Co., according to a filing Thursday with the U.S. Securities and Exchange Commission.

Candu Energy Inc. signed a binding and exclusive cooperation agreement with China Nuclear Power Engineering Co. Ltd. (CNPEC) to build two CANDU 6 nuclear reactors at the Cernavoda Nuclear Power Plant in Romania.

One of Germany's newest coal-fired power plants rises here from the banks of a 100-year-old canal that once shipped coal mined from the Ruhr Valley to the world.

A U.S. science advisory report says Japan's Fukushima nuclear accident offers a key lesson to the nation's nuclear industry: Focus more on the highly unlikely but worst case scenarios.

The Sacramento Municipal Utility District (SMUD) received a new 50-year license from the Federal Energy Regulatory Commission (FERC) to continue operating the 688-MW Upper American River Project.