News Archive - July 2008

Oil slips to seven-week low in US

Gas prices on some American forecourts have dipped below US$4 a gallon for the first time in seven weeks.

Frost & Sullivan award for General Cable

Frost & Sullivan has presented General Cable with the 2008 North American Frost & Sullivan Award for Growth Excellence in the Energy Cables market.

Shell and Iogen team up for major biofuel project

Shell and Iogen Corporation have announced an extended commercial alliance to accelerate development and deployment of cellulosic ethanol.

ExxonMobil awards contracts to Alaskan companies for work to put Point Thomson field on production

ExxonMobil Production Company has announced this week that it has awarded contracts for work in support of the first well of a multi-well drilling program at Point Thomson.

Bush lifts ban on offshore drilling

Despite George W Bush lifting the executive ban on offshore drilling today, July 15, drilling will not start until Congress also lifts its ban.

Texas companies bid for drilling rights off Nova Scotia

Two Texas-based companies have bid US$216 million for the rights to develop several islands off the coast of Nova Scotia.

OPEC chief: Biofuels responsible for 40% of crisis

The price of petroleum will continue to rise because of ethanol, the weak dollar and political tensions, according to an oil cartel's president.

Major find in Gulf of Mexico for Petrobras

Brazilian state-run energy giant Petroleo Brasileiro (Petrobras) has announced the discovery of oil and gas in ultra-deep waters in the Central Gulf of Mexico, in the United States, via its Petrobras America Inc. subsidiary, based in Houston, Texas.

DOE pledges US$90m for EGS development

The DOE (Department of Energy) issued a Funding Opportunity Announcement (FOA) last month for the research, development, and demonstration of enhanced geothermal systems (EGS).