Projects

A small British oil company has found a bonanza of potentially billions of barrels of oil beneath a field near London’s Gatwick Airport. The only problem is how much of the oil is accessible.

UK Oil and Gas Investments (UKOG) said April 9 that 3,000 feet of exploratory drilling at Wytch Farm in the Weald Basin, a rural area just north of the airport, discovered a “world-class potential resource.” The area is now referred to as “Britain’s Dallas.” It was the deepest well dug in the region in three decades.

MEXICO CITY (AP) — Mexico's state-run oil company and U.S.-based First Reserve are announcing a $1 billion deal to invest in the energy sector.

Petroleos Mexicanos says in a statement that the agreement covers potential projects including infrastructure, sea transport, cogeneration and processing.

First Reserve is a global private equity and energy infrastructure investment firm headquartered in Greenwich, Connecticut.

It said in a statement Tuesday that the two companies will invest in infrastructure projects throughout Mexico.

TransCanada postponed the building of its Energy East pipeline project and decided against building a marine and associated tank terminal in Cacouna, Québec. The company said alternative terminal options are under review, and that Québec and New Brunswick refineries would continue to be connected directly to Energy East.

TULSA, Okla. – Transco has filed an application with the Federal Energy Regulatory Commission (FERC) for its Dalton Expansion Project, which would support providing Marcellus shale gas to the Southeast for electricity generation and local natural gas distribution.

Kinder Morgan announced its subsidiary, Tennessee Gas Pipeline Company (TGP), has finalized its anchor shippers for the market path component of the proposed Northeast Energy Direct Project (NED) following the formal close of the anchor shipper period in February.

Collectively, the anchor shippers have executed agreements to transport approximately 500,000 dekatherms per day (Dth/d) of incremental natural gas supplies sourced from the prolific Marcellus Shale region to meet New England’s growing consumer and industrial gas needs, as well as helping to bolster electric reliability.

BUCHAREST, Romania (AP) — Romania has begun transporting natural gas to Moldova, as the former Soviet republic moves toward the European Union and becomes less dependent on Russia.

"It is the first time that gas goes from West to East," said Moldova Foreign Minister Natalia Gherman during a visit to Bucharest.

Moldova gets most of its gas from Russia but wants to import more from Romania. The joint pipeline began pumping a small amount of Romanian gas Wednesday.

Gherman says the government installed last month, which is backed by communists, is committed to joining the EU.

Sunoco Logistics’ Mariner East projects are expected to add up to $4.2 billion to Pennsylvania’s economy and create 300-400 permanent jobs, according to a study by Philadelphia-based Econsult Solutions, Inc. released Feb. 5.

Commissioned by Sunoco Logistics, the economic forecast projected construction of the projects will generate $23 million in personal income tax in the state, as well bringing in $62 million in tax revenues from vendors, employees and related activities.

The Trans Adriatic Pipeline reported that TAP and its existing shareholders EGL, Statoil and E.ON Ruhrgas have reached an agreement with members of the Shah Deniz Consortium to secure funding for the project.

Genesis Energy, L.P. has entered into definitive agreements to acquire from Marathon Oil Company interests in several Gulf of Mexico crude oil pipeline systems, including its 28% interest in Poseidon Oil Pipeline Company, L.L.C., its 29% interest in Odyssey Pipeline L.L.C., and its 23% interest in the Eugene Island Pipeline System.

El Paso Corporation’s wholly owned subsidiary, Tennessee Gas Pipeline, has placed its 300 Line Project in service, marking the completion of one of the largest natural gas infrastructure projects currently under way in the Northeast United States.

Syndicate content