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Senate committee passes bill to lift ban on US oil exports

02/10/2015

A bill to pass the 40-year-old ban on US oil exports has been passed by the Senate Banking Committee. The bill, which was sponsored by Democrat Senator Heidi Heitkamp from North Dakota, passed 13 to 9. The politician was the only person from the Democrats to vote for the measure.

Training & Technology

Atlantis Resources boss anticipates sea change in energy mix

02/10/2015

When Atlantis Resources finally completes its world beating tidal energy development in the North of Scotland, don’t expect exciting photo opportunities to mark the occasion - there’ll be nothing to see. Atlantis’ huge MeyGen project in the Pentland firth will be the world’s biggest tidal project: up to 269 turbines providing almost 400MW - enough electricity for 175,000 Scottish homes. But all that power and infrastructure won’t be visible from the nearby Caithness and Orkney shorelines because all the action takes place below the waves.

Other News

Former Arctic engineering exec named director of Subsea Systems Institute

01/10/2015

A former Arctic engineering executive has been named as director of the Subsea Systems Institute in Houston. Bill Maddock will lead the research centre which was initially set –up in the aftermath of the 2010 Deepwater Horizon spill. A collaboration between the University of Houston, Rice University and NASA Johnson Space Centre, the institute will serve as a neutral third party to provide industry and government regulators with new technologies, science-based policies, education and workforce training.

Other News

Hyperdynamics agrees settlement deal, pays fine to SEC

01/10/2015

Hyperdynamics Coporation has agreed a settlement deal with the US Securities and Exchange Commission (SEC) regarding an investigation into improper payments made by a subsidiary working in Guinea. The SEC had issued a subpoena to the Houston-based company concerning possible violations of the Foreign Corrupt Practices Act (FCPA).

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Statoil joins force with Norwegian University to fund energy research

01/10/2015

Statoil and the Norwegian University of Science and Technology (NTNU) have signed an agreement on research funding for future energy solutions. The group, with a total budget of NOK 50million over the next four years, will look to build-up a research group which can help develop sustainable energy solutions. The first move will be to recruit a researcher who can guide the work and build up the research group based at NTNU in Trondheim.

Other News

WWF claim world heritage sites under threat from oil and gas exploration

01/10/2015

Almost a third of the world’s natural World Heritage Sites face the risk of oil and gas drilling or mining, a report has warned. In Africa, almost two-thirds (61%) of the continent’s world-renowned natural sites are under threat of exploration for fossil fuels or minerals, the study by conservation organisation WWF, Aviva Investors and Investec Asset Management found. The 31% of World Heritage Sites under threat worldwide range from Africa’s first national park, Virunga, in the Democratic Republic of Congo, home to critically endangered mountain gorillas, to China’s Sichuan Giant Panda Sanctuaries and Australia’s Great Barrier Reef.

People

Tributes paid to Texan investor who helped oil family make $5billion fortune

30/09/2015

A Texan investor who helped the Bass family turn a $50mllion oil inheritance into a $5billion fortune has died. Richard Rainwater had been diagnosed with progressive supranuclear palsy, a degenerative brain disease,in 2009. The 71-year-old was known for looking for industries that were out of favour and seeking out partners he could back to form companies to bet on a recovery. The father-of-three passed away in Fort Worth, Texas, on Sunday.

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Nigerian President will retain country’s oil portfolio in his new cabinet

30/09/2015

Nigeria’s President Muhammadu Buhari said he will hold the country’s oil portfolio in his new cabinet, rather than trust anyone else with the source of most of its revenue. Buhari, who took office earlier this year, has promised to combat corruption and made clear he wants to overhaul the oil sector in Africa’s biggest economy. At an annual meeting of world leaders at the United Nations General Assembly in New York this week Buhari said he intended to remain as the minister of petroleum resources.

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Scottish Power to learn of Longannet employees job hopes next month

30/09/2015

A taskforce set up after it was revealed the coal-fired Longannet power station was set to close has met for a second time in a bid to help those who face job losses. It is expected Scottish Power will know by the end of October how many Longannet employees wish to take redundancy, seek redployment within the company or find new employment. The Energy Minister Fergus Ewing said detailed work had been taking place by Scottish Power, local councils and the Scottish Government and Scottish Enterprise to help with an economic recovery plan.

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Jeb Bush calls for end to ban on US oil exports

29/09/2015

The Republican presidential candidate Jeb Bush has called for an end to the ban on US oil exports as well as an ease on restrictions on natural gas exports. The former Florida governor is calling for an end to 1970s-era law prohibiting the US from exporting crude oil. It comes at a time when domestic petroleum production has grown rapidly over the past 10 years.

Other News

Metgasco strikes deal with Terrex for seismic work

29/09/2015

Metgasco has signed a contract with Terrex to acquire new seismic in its Northern Rivers petroleum exploration licence in Australia. The program is expected to take about four days to complete and has already been given the approval of the New South Wales government. The purpose of the seismic program is to provide more definition of the northern extent of the Greater Mackellar conventional / tight gas exploration prospect.