Growth of carbon capture and storage stalled in 2011
Global funding for carbon capture and storage technology, remained unchanged at US $ 23.5 billion in 2011 in comparison to the previous year, according to a new report from the Worldwatch Institute.
Investor Ideas.com, 8 May 2012, http://tinyurl.com/cldnptb
Norway opens CO2 Capture test facility
Norway has inaugurated a CO2 capture test facility at the Technology Centre Mongstad (TCM). Partially based on Alstom's Chilled Ammonia technology, Mongstad's new test centre will be Europe's largest such centre for CO2 capture
Energy Business Review, 8 May 2012, http://tinyurl.com/c2jd9pm,
Siemens, Masdar Institute complete carbon capture and storage project
Siemens and Masdar Institute of Science and Technology in Abu Dhabi, UAE, have jointly revealed the conclusion of their first carbon capture and storage (CCS) research collaboration project.
Energy Business Review, 15 May 2012, http://tinyurl.com/d6dmcrp
Need to know: Natural resources
Statoil has posted its highest ever quarterly profit and was optimistic about its new Arctic tie-up with Rosneft.
The Times, 9th May 2012, p.34.
Foster Wheeler signs EFA with Shell
Foster Wheeler AG (FWLT) announced that a subsidiary of its Global Engineering and Construction Group has signed an Asian Enterprise Framework Agreement (EFA) with Shell Global Solutions International B.V. (Shell). Under this agreement Foster Wheeler will provide engineering and project management services for Shell's downstream projects in Asia. The agreement is for a five-year period, with an option to extend for another five years. Work will be released under individual work orders, and Foster Wheeler will record bookings as work orders are received.
Stainless Steel World Weekly News Update, 15th May 2012.
Operation to stop gas release from Elgin well given environmental go-ahead
The Department of Energy and Climate Change has granted TOTAL environmental permits to a undertake a dynamic kill operation in an attempt to stop the gas release from the Elgin well. The operation will use heavy drilling mud pumped into the G4 well from the wellhead to stop the gas release. DECC has carried out full environmental assessment of the operation and the Health and Safety Executive has confirmed it has no objections to this intended activity. The well intervention operation will use the West Phoenix drilling rig as the pumping vessel, which will be located alongside the Elgin complex.
Department of Energy and Climate Change, 3 May 2012. http://tinyurl.com/c9fzu99
Global Oil and Gas Survey 2012-2013: Market Trends, Marketing Spend and Sales Strategies
Details a new report which analyses how oil and gas companies' media spend, marketing and sales strategies and practices and business planning are set to change in 2012-2013. The report provides the current size of the marketing and advertising budgets of global oil and gas suppliers and how spending by suppliers will change, providing insight into global marketing behaviour. It also identifies future growth of buyers and suppliers and M&A activity. Notes that the top priorities for the global oil and gas industry in 2012 are 'improving operational efficiency', 'expand in current market' and 'stabilising company finances'.
ICD Research, Apr. 2012.
