Oil and Gas News

February 26, 2013

Sinopec buys $1bn US shale stake from Chesapeake
New York (AFP) Feb 25, 2013
Chinese oil giant Sinopec is investing $1.02 billion in a US shale field as it teams up with Chesapeake Energy Corp. in a 50-50 joint venture, the companies said Monday. China Petroleum & Chemical Corp. (Sinopec) will buy a 50 percent interest in Chesapeake's 850,000 acres in Mississippi Lime shale in northern Oklahoma, they said in a joint statement. The two companies will share the costs of all future exploration and development, while Chesapeake will be in charge of leasing, drilling and oper ... read more

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BP accused of greed, lax safety at US oil spill trial Prosecutors accused BP of letting greed triumph over safety Monday in the opening of a multi-billion dollar trial over the devastating 2010 Gulf of Mexico oil spill. ... more		F-35 flights should resume soon: Pentagon official The Pentagon's director of the F-35 programme said Monday the next-generation US fighter jet could be back in the air within a fortnight after an engine crack forced the grounding of test flights. ... more		Chevron pursues Australian shale Energy giant Chevron is entering Australia's shale natural gas sector. ... more
				The End of the Shale Era: Big Shift in Junior Oil Exploration The oil and gas game can be a tricky one for junior companies, but if played right the pay-off can be massive. At a time when juniors are risking a lot in volatile venues in the Middle East and Afri ... more		Engineering cells for more efficient biofuel production n the search for renewable alternatives to gasoline, heavy alcohols such as isobutanol are promising candidates. Not only do they contain more energy than ethanol, but they are also more compatible ... more

CubeSats, SmallSats and MicroSats

Europe bids to tighten offshore drilling rules Europe moved Thursday towards agreement on new rules governing offshore oil and gas drilling in response to a major environmental disaster off the United States, but environmentalists criticised the omission of terms covering Arctic exploration. ... more		Avoiding virus dangers in 'domesticating' wild plants for biofuel use In our ongoing quest for alternative energy sources, researchers are looking more to plants that grow in the wild for use in biofuels, plants such as switchgrass. However, attempts to "domesti ... more		The first animals on Earth may have been sea sponges, study suggests Wildfire-induced thunderstorms recreated in Earth system models for first time Fengyun satellite strengthens China global weather forecasting capacity		Estonia plugs electric cars as power prices soar It brought the world Skype, Europe its first capital with free public transport, and now Estonia is touting the globe's first fast-charging network for electric vehicles. ... more
				China's Geely to set up research centre in Sweden Chinese automaker Geely, owner of Sweden's Volvo Cars, said it would set up a research and development centre in the Scandinavian country to capitalise on advanced European technology. ... more		Israel OKs oil drilling on occupied Golan Israel's go-ahead for oil exploration on Syria's Golan Heights, largely occupied since the 1967 Middle East war, is likely to stir a diplomatic hornet's nest and possibly even retaliatory action by forces engaged in Syria's civil war. ... more

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BP heads to court in 2010 oil spill The case against BP in the Gulf of Mexico oil spill is set to go to trial but the New York Times said Saturday government lawyers want to settle out of court. ... more		Mobile apps reshape urban taxi landscape Before the smartphone, riders summoned a taxi by waving an arm or calling a dispatcher - but mobile apps are changing that, helping both drivers and passengers. ... more		Maintaining US space dominance requires rapid and reliable delivery of new systems Germany pledges EUR35 bn for space defence against Russia, China Blackbaud Reviews: Key Insights To Consider Before Choosing an LMS		US plans $16 billion Gulf spill settlement with BP: report US authorities plan to propose a $16 billion settlement to British energy giant BP for civil claims related to the disastrous 2010 oil spill in the Gulf of Mexico, The Wall Street Journal said. ... more
				First F-35 Production Model Takes Flight The first Lockheed Martin production model F-35C carrier variant, known as CF-6, flew its first sortie Thursday. Upon delivery later this year, the jet will be assigned to US Navy Fighter Atta ... more		Merkel cautious on 'fracking' in Germany Chancellor Angela Merkel on Wednesday expressed caution over whether the revolutionary oil and gas technique of "fracking" could be introduced in Germany, saying public safety was the main concern. ... more

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Sinopec buys $1bn US shale stake from Chesapeake

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Technical hitch closes Slovenian nuclear plant

Taiwan mulls nuke plant referendum

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Denmark closes airspace to civilian drones amid rise in sightings

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California is the Top State in US for Advanced Biofuel Companies

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Israel gets ready for F-35s, new trainers

India keen to sign Rafale deal by mid-2013: air force chief

India orders probe into Italy chopper bribe allegations

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