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News

CNOOC Given Green Light for $15.1 Billion Takeover of Nexen Inc.

CNOOC Given Green Light for $15.1 Billion Takeover of Nexen Inc.

Dec 10, 2012 at 16:53 | Joao Peixe

After months of deliberation Canada’s Prime Minister, Stephen Harper, has approved CNOOC’s $15.1 billion takeover of Nexen Inc.The deal will be largest stake in a foreign company that…

Permian Oil Glut Sees Producers Lose Out on $1.2 Billion Profit

Permian Oil Glut Sees Producers Lose Out on $1.2 Billion Profit

Dec 10, 2012 at 16:52 | James Burgess

A huge increase in shale oil production from the Permian basin in Western Texas, coupled with a lack of pipelines in the area, has led to a bottleneck of crude…

EU Looks to Introduce Regulations in Order to Control UK's Fracking Plans

EU Looks to Introduce Regulations in Order to Control UK's Fracking Plans

Dec 10, 2012 at 16:51 | Charles Kennedy

Last week the Chancellor of the Exchequer George Osborne announced that the UK government would off tax breaks to fracking firms and set up a new regulator just for the…

Chevron Announces $36.7 Billion Capital Expenditure Budget for 2013

Chevron Announces $36.7 Billion Capital Expenditure Budget for 2013

Dec 07, 2012 at 16:49 | Charles Kennedy

Chevron Corp. (NYSE:CVX) announced yesterday that it has set an energy exploration and investment budget of $36.7 billion for 2013; about 12% more than this year’s budget.About 90%…

Capital Expenditure in the Eagle Ford Estimated to Reach $28 Billion in 2013

Capital Expenditure in the Eagle Ford Estimated to Reach $28 Billion in 2013

Dec 07, 2012 at 16:48 | Joao Peixe

A new analytical study by Wood Mackenzie has predicted that capital expenditure in the Eagle Ford shale formation in 2013 will reach $28 billion. That will be equal to a…

One Step Closer to Solar Cell Fabrics

One Step Closer to Solar Cell Fabrics

Dec 07, 2012 at 16:47 | Joao Peixe

The military is very interested in developing solar cells that can be created from flexible materials and therefore be woven into uniforms to provide individual soldiers with power stations for…

UK Pledges £113 million to Renewable Energy Projects in Africa

UK Pledges £113 million to Renewable Energy Projects in Africa

Dec 07, 2012 at 16:46 | Charles Kennedy

Upon his arrival in Doha for the UN climate talks the UK Energy Secretary Ed Davey said that, “climate change is a global threat and with every passing year, the…

Gazprom to Start Building South Stream Pipeline, EU Disagrees

Gazprom to Start Building South Stream Pipeline, EU Disagrees

Dec 07, 2012 at 16:45 | Eurasianet

Russia's Gazprom says construction will begin this week on the underwater section of its South Stream pipeline, which will carry natural gas beneath the Black Sea and into the European…

Scientists Find Mega-Oil Field ... 1,300 Light Years Away

Scientists Find Mega-Oil Field ... 1,300 Light Years Away

Dec 06, 2012 at 16:37 | James Burgess

Have our wishes been answered? Scientists have found an oil field which contains 200 times more hydrocarbons than there is water on the whole of the Earth.Time to…

Solar Plane to Attempt Non-Stop Flight Around the World in 2015

Solar Plane to Attempt Non-Stop Flight Around the World in 2015

Dec 06, 2012 at 16:35 | James Burgess

In 1999 Bertrand Piccard became the first person to travel around the world nonstop in a balloon. The trip used a huge quantity of fuel and resources and left Piccard…

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