Photo: Samho Jewelry crew rescue operation by Korean Navy

Posted on 1/21/2011 / 0 comments / Read More

China annual gas demand to rise 143% by 2015

China's annual average gas consumption is expected to jump 143 per cent from 2010 to reach 260 billion cubic metres (bcm) by 2015, the Shanghai Securities News said on Friday.
China, the world's top energy consumer, is expected to produce 170 bcm of natural gas and import a net gas volume of 90 bcm by 2015 as part of the country's 12th Five-Year plan, the paper said, citing an unidentified official from the planning agency National Development and Reform Commission (NDRC).
[Read more]
Source: Business Spectator

Posted on 1/21/2011 / 0 comments / Read More

China renews Iran oil deal with steady volume: sources

China, the world's largest buyer of Iranian crude oil, has renewed its annual import agreements for 2011, keeping the volumes steady at some 460,000 barrels per day (bpd), two sources told Reuters.
China's commitment to keep volumes firm came as India, Iran's second-biggest oil buyer, was locked in a payment dispute with the Islamic Republic over its crude imports of around 400,000 bpd and as Japan scaled back further Iranian oil buys.
[Read more]
Source: Business Spectator

Posted on 1/21/2011 / 0 comments / Read More

Amadeus receives conditional offer

Shares in oil and gas explorer Amadeus Energy Ltd have gone into a trading halt, as the company said it had received an unsolicited proposal to buy out the company.
Amadeus said the offer, from an unnamed bidder, was "an unsolicited, conditional proposal that may result in an offer being made for all the shares in the company".
[Read more]
Source: Ninemsn

Posted on 1/21/2011 / 0 comments / Read More

Beach Energy Limited Second Shale Gas Exploration Well To Spud Imminently And Second USA Shale Oil Well Flowing

Despite recent localised rain in the Cooper Basin, Beach Energy Ltd is expecting to spud its second shale gas well, Holdfast-1, later today. Holdfast-1 is approximately 24 kilometres to the northeast of the first shale gas well, Encounter-1. The well is targeting the same Roseneath-Epsilon-Murteree shales which are expected to be of a similar order of thickness to the first well. Holdfast-1 is planned to reach a total depth (TD) of 3,625 metres in around 60 days. Further extensive coring is planned for this second well which will assist with gas in place estimates as well as assessing the mechanical properties of the rock for optimizing fracture stimulation design.
The Henderson Federal 4-26H well (Beach ~18.4% working interest, 14.7% net revenue interest, operator Helis Oil & Gas Co. LLC) in North Dakota USA has completed fracture stimulation operations and the well has been flowing for several days as part of the clean up process. The maximum daily rate during the clean up was 1,900 barrels of oil per day (bopd). Beach is very pleased with the initial flow rates which follow on from the successful Henderson 4-25H well that continues to flow at expected rates.
Source: Press release

Posted on 1/21/2011 / 0 comments / Read More

ONGC detects leakage in Mumbai Uran Trunk oil pipeline

The Regional Contingency Plan (which is the existing emergency response measure) has been activated immediately on detection of the leak.
A leakage has been detected at ONGC’s Mumbai Uran Trunk (MUT) oil pipeline at 0845 hours this morning. The leakage was observed 2kms from BPB platform (Bassein oil and gas field) in western offshore, 80 kms from Mumbai coast.
[Read more]
Source: IIFN

Posted on 1/21/2011 / 0 comments / Read More