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Oil & Gas

MP self-funds trip to the US as decision looms over shale bid in his own constituency

01/10/2015

An MP whose constituency has a decision date on a fracking application looming self-funded a trip to the US in a bid to find out more about the production method. Thirsk and Malton MP Kevin Hollinrake flew out to the state of Pennsylvania for a week to meet with industry leaders, regulators and academics. The decision to go on the fact-finding mission was prompted by fracking applications in his own area.

Oil & Gas

Oil supply and demand more balanced, says Vitol chief

01/10/2015

The Scot at the helm of oil trading giant Vitol said yesterday he saw signs emerging of a better balance between global oil supply and demand. Ian Taylor refused to speculate on where oil prices may be headed next, adding: “Traders always get these things wrong.” But addressing delegates of the Kazenergy Eurasian Forum in Kazakhstan, he said the market seemed to be settling after months of volatility.

Oil & Gas

Cameroon FLNG gas convention signed

30/09/2015

A milestone has been reached in the Cameroon floating liquefied natural gas project after parties signed a gas convention. The final investment decision commits the project to a targeted start date for commissioning in the second quarter of 2017. At a signing ceremony in Cameroon the country’s state-owned oil company Société Nationale des Hydrocarbures (SNH), Perenco Cameroon, Golar Hilli Corporation and Golar Cameroon executed a an agreement which endorses and governs the installation and operation of the GoFLNG vessel in Cameroon waters offshore of Kribi.

Oil & Gas

September saw largest three-day gain in Brent price since 1990

30/09/2015

Brent prices jumped by $11 in the month of September marking the largest gain in three days since 1990, according to a market update. The latest findings from KPMG showed volatility in the oil markets has persisted in August and mid-September brought on by China’s financial slump and its wider effect on the markets. The price jump per barrel was influenced by speculation of an OPEC production cut.

Oil & Gas

Renewables to boost Japan’s energy capacity

30/09/2015

Data shows Japan’s cumulative installed capacity will rise from 317.5 Gigawatts (GW) last year to an estimated 389.8 GW by 2025. The jump represents a moderate compound annual growth rate (CAGR) of 1.9%, according to research and consulting firm GlobalData. The company said while thermal sources are likely to contribute to the majority of installed capacity other renewable sources, including hydropower, will more than double by the end of the forecasted period.

Oil & Gas

XPD8 wins two-year North Sea contract with CNR International

30/09/2015

XPD8 Solution has signed a two-year contract with CNR International to provide monitoring services to five of the company’s platforms in the North Sea. The company has previously provided cover to CNR International’s UKCS assets over the past eight years. The latest contract will take XPD8 to a decade of working for the Canadian oil and natural gas company.

Oil & Gas

San Leon makes gas discovery in Morocco

30/09/2015

San Leon Energy said it had made a new gas discovery onshore Morocco but gave no further details of a takeover bid made last month. The company said the Laayoune-4 well on the Tarfaya conventional licence had been drilled and suspended with gas shows. San Leon has completed £29million of fundraising through the placing of ordinary shares together with a share capital reorganisation.

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