The Talley Group

Romanian Black Sea gets deepwater gas find

admin — Wed, 22 Feb 2012 21:28:00 +0000

A deepwater wildcat in the western Black Sea off Romania has discovered an accumulation initially pegged at 1.5 to 3 trillion cu ft of gas whose commerciality isn’t assured, press reports said Wednesday.

‘Miracle material’ graphene is thinnest known anti-corrosion coating

admin — Wed, 22 Feb 2012 18:31:31 +0000

New research has established the "miracle material" called graphene as the world's thinnest known coating for protecting metals against corrosion.

Oil costs, taxes still key gasoline price components, says API

admin — Wed, 22 Feb 2012 18:12:00 +0000

Crude oil costs and taxes are still bigger influences than refinery production and product exports in gasoline price increases, American Petroleum Institute Chief Economist John C. Felmy said.

Mitsubishi to buy stake in Talisman Papua New Guinea gas assets

admin — Wed, 22 Feb 2012 18:04:00 +0000

Mitsubishi Corp. agreed to pay Talisman Energy Inc. $280 million for a stake in nine natural gas blocks in Papua New Guinea's onshore Western Province, subject to approvals by government and joint venture partners.

Shell unit makes offer to buy Cove Energy

admin — Wed, 22 Feb 2012 18:01:00 +0000

A Royal Dutch Shell PLC subsidiary has offered to buy Cove Energy PLC for $1.6 billion in a move that would mark Shell’s entry into Mozambique and Kenya. Cove also has holdings in Tanzania where Shell already has a presence.

Connacher delays oil sands expansion, names CEO

admin — Wed, 22 Feb 2012 17:54:00 +0000

Connacher Oil & Gas Ltd., Calgary, which last month disclosed a strategic review following key management changes, has delayed the planned expansion of its Alberta oil sands production project and named an interim chief executive officer (OGJ Online, Jan. 20, 2012).

Another Williston diesel refinery studied

admin — Wed, 22 Feb 2012 17:08:00 +0000

Another refinery designed to produce diesel from Bakken crude oil is in prospect in the Williston basin.

MARKET WATCH: Iran, Greek concerns boost crude oil prices

admin — Wed, 22 Feb 2012 17:00:00 +0000

The front-month contract for crude oil soared above $106/bbl in a late rally Feb. 21 in the New York market before closing slightly lower. Natural gas fell, however, ending a two-session resurgence.

Magellan extends Crane-to-Houston crude line open season

admin — Wed, 22 Feb 2012 16:43:00 +0000

Magellan Midstream Partners LP extended by a week the binding open season to solicit commitments from shippers to transport crude oil from Crane, Tex., to the partnership’s East Houston terminal for further delivery to the Houston and Texas City-area refineries through Magellan’s distribution system.

Technip gets subsea compression contract

admin — Wed, 22 Feb 2012 16:26:00 +0000

Statoil has let a contract to Technip for work on what it calls the world’s first subsea natural gas compression facility, to be installed in Asgard area in the Norwegian Sea.