Europe’s largest engineering conglomerate, Siemens has agreed to acquire Houston-based Dresser-Rand in a $7.6bn (£4.6bn) transaction which will help the German electronics giant to fire-up its oil and gas business in North America. The American firm manufactures oilfield supplies and equipments, and under the arrangement, it will turn into “the platform for oil and gas [...]
State-controlled oil giant, Sinopec Corp, on Sunday unveiled its plans to raise $17.4 billion by offering a stake in its nationwide chain of gas stations to outside investors, indicating the biggest privatization push since President Xi Jinping came to power around two years ago. Sinopec, China’s biggest Petroleum and Chemical Corporation, has arranged to offer [...]
European oil giant Royal Dutch Shell PLC took its first step toward returning to explore in the Arctic. Shell spokesperson Megan Baldino said that on Thursday morning the oil and gas company filed a revised plan to the Bureau of Ocean Energy Management in Anchorage to explore the Chukchi Sea (BOEM, Bureau of Ocean Energy [...]
China Rongsheng Heavy Industries, China’s largest private ship-building and petro-chemical engineering company, is now venturing into oil and gas exploration via HK$2.2 billion acquisition in Kyrgyzstan, it announced on Thursday. The Hong Kong-listed Jiangsu-based company revealed in a statement that it has, through a subsidiary, bought a 60 percent stake in New Continental Oil and [...]
Mexican President Enrique Pena Nieto signed into law on Monday new rules legislating an opening of Mexico’s state-run oil, gas and energy industries to foreign and private owned businesses. Pena Nieto announced that the administration will give out more details to potential investors by Wednesday which blocks of gas and oil fields will be open [...]
Study reveals Keystone XL pipeline’s potential carbon pollution much higher than previously estimated
According to a new study, the much-debated Keystone XL pipeline ports could have a much larger impact on greenhouse gas emissions than the State Department originally estimated. The study which was conducted by a non profit research organization, the Stockholm Environment Institute was published Sunday in the journal Nature Climate Change. It says the pipeline would [...]
Houston billionaire Richard Kinder is disbanding his pipeline empire to fortify it for growth as the U.S. shale drilling boom opens up $1.5 trillion in potential projects. Kinder Morgan, which incorporates a gigantic network of oil and gas pipelines across North America, is set to acquire its three associated organizations and revamp as one organization situated in [...]
Biofuels created from organic sources, for example, plants and green algae could decrease carbon emissions to an extent of 80% in contrast to petroleum-based fuels. Boeing Co. is collaborating with state-owned South African Airways and Dutch aviation biofuels organization SkyNRG to create jet fuel from an entirely new kind of tobacco plant. The effort is [...]
The U.S. Department of Commerce has put on hold at least two companies’ appeal for authorization to trade on ultralight type of crude abroad, sufficiently stonewalling an industry push to export a maddening surplus of oil in the midst of the U.S. shale revolution, sources reveal. Over a month ago in June, the Department of [...]
The U.K is set to begin, the bidding process today, for the next set onshore oil and gas exploration licenses, including shale gas, a solution is viewed as a less expensive and more secure energy source. The details for the bidding are yet to be set out by the Department of Energy and Climate Change. [...]
According to a new study conducted by top US universities, four wastewater wells in Oklahoma, where energy companies dump water following the completion of hydraulic fracturing process, has caused a series of earthquakes, some 30km from the site in the past five years. The report, published in Science magazine, wrapped up on the Midwestern state, [...]
Energy dependence is nothing new. But the fact is that the results of it we can fully observe nowadays, just to mention the ongoing political and military struggle in Ukraine. Saying that Russia is fully responsible for the energy dependence of several countries such as Ukraine, Poland, Bulgaria and others is inappropriate at least. The [...]
Military advances in Southern Iraq by Sunni Islamist anarchists, who took over two Iraqi cities earlier this week could disrupt oil supplies if Baghdad doesn’t re-establish its authority in next to no time. The increasing turmoil in Iraqi soil has induced growing concerns – high oil prices – compelling central banks to raise interest rates [...]
The U.S. Department of Transportation’s Federal Aviation Administration took a giant step on Tuesday by easing restrictions on commercial unmanned aircraft systems (UAS) use over land and water in the U.S. Of all companies, oil company British Petroleum and its drone partner AeroVironment have secured the approval to fly an AeroVironment Puma AE for aerial surveys over Prudhoe Bay oil operations in Alaska (which [...]
The U.S. Environmental Protection Agency (EPA) on Monday has finalized the new Tier 3 vehicle emission standards for cars and gasoline that the agency claims will significantly reduce harmful pollution, improve public health and prevent thousands of premature deaths and illnesses and create a cleaner environment, all by reducing the amount of sulfur that’s released into [...]
Researchers at the the Department of Energy’s Pacific Northwest National Laboratory Pacific Northwest National Laboratory can spin algae into oil. A biofuels company, Utah-based Genifuel Corp., has licensed the technology and is collaborating with an industrial partner to create a pilot plant using the technology.
As the renewable electricity generation and electric cars is rising there is also a growing interest in energy storage technology. On Thursday the U.S. Department of Energy released a report on this emerging technology that points out big problems and potential panacea for encouraging energy storage technology development and installation. Lowering the price of energy storage systems and ensuring they are safe to use are among the big obstacles.
In the past, Americans were concerned about running out of energy to keep their cars revving and their homes heated, but with advanced technologies making oil, natural gas and other fossil fuels more abundant, the risk now is that the world might run out of the water needed to generate power.
According to Exxon Mobil the drive for better living standards around the world will increase the demand for electricity and transportation fuels even as economies revive and governments put a price on pollution.