Technology
The Directors of Arrow Energy NL announces the signing of a Letter of Intent (“LOI”) with EIG Energy Infrastructure Group AB (“EIG”) of Sweden for a farm-in to a portfolio of predominantly exploration coal seam gas assets in the Eastern coastal region of Queensland. 
Houston, Texas based Unicorp, Inc. has entered into an agreement that identifies and provides engineering, technical and intellectual data, including 3D seismic, on a new prospect located in South Texas with estimated gross reserves of 3.5 Bcf of gas. 
U.S. President George W. Bush told Amercians in a radio address at the weekend that his proposed new budget includes $2.7 billion for renewable energy research, a 53 percent hike over 2006. 
A first-ever gas-and-wind-power offshore energy project was launched Friday by U.K. Energy Minister Lord Truscott, as Eclipse Energy’s 30 turbines gear up to generate power for 70,000 homes. 
The 35 percent field stake of Norway newcomer, Rocksource ASA, has highlighted the value of Norwegian offshore acreage, where a concentration of technology and capital is “promoting” production acreage a la the U.K. sector. 
London-listed Fortune Oil in China has nearly doubled its paper holdings after a study of rock strata by Chinese geologists revealed 40.5 billion cubic metres of gas in place at the Liulin block, Shanxi province. 
The five oil companies once told they were not needed are invited back to develop the giant Shtokman gas field in the Russian Barents Sea, Bloomberg news reported from Davos, Switzerland Friday. 
Canada-based shipping giant Teekay and Japan’s turnkey financiers Marubeni have announced their involvement in the first compressed natural gas carrier approved by a major classification society.
Reliance CEO deflects talk of new "strategic partner" Jan 22, 2007
Contrary to some news reportrs, Indian producer Reliance Industries is not planning to turn create a company around the Krishna Godavari gas field, according the Economic Times of India. 
Future oil-company revenues in the United States took a blow late Thursday, as the new Democrat-lead House of Representatives passed the Clean Energy Act, which “rolls back subsidies and tax breaks for Big Oil”, the House speaker said. 
Criticized and harried for safety hurdles at U.S refineries, BP will implement new process safety measures worth $500M a year until 2010, the company’s answer recommendations made by an expert safety committee. |
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