European oil giant Total says the market overreacted to the company's natural gas leak in the North Sea and that after plugging the leak it anticipates resuming production by the end of the year, Bloomberg reports.
LAGOS, Nigeria (AP) — French oil company Total SA said Sunday it stopped a natural gas leak at one of its plants in Nigeria's crude-rich southern delta after 54 days, an emergency that forced the firm to shut down the field and evacuate the area.
Total said it used heavy fluids and cement plugs to stop the gas flow from its Obite natural gas field in Rivers state, in the heart of the country's Niger Delta. Workers will put a cement seal on the well to permanently staunch the flow from the well, Total said in a statement.
Fred Ohwahwa, a spokesman for Total's Nigerian subsidiary, said Sunday that the company hoped to restart gas production at the plant soon, but that he didn't know an exact date. Crude oil production at the facility continued while the gas plant there was shut down during the leak, he said.
French oil company Total saw its revenues grow strongly in the first quarter of the year but said Friday that a drop in European demand for petrochemicals hit profits.
While energy prices have soared amid unrest in the Middle East and tension in Iran, the economic slowdown in Europe has weighed on demand. Those high prices have buoyed Total's production business, but other sectors are struggling amid the poor economic environment.
In an abrupt move, Scott O’Malia, a Republican on the Commodity Futures Trading Commission, has tendered his resignation to President Obama effective Aug. 8, after spending more than four years as a CFTC regulator, Platts reports.
The replacement for the departing Deputy Administrator Bob Perciasepe at EPA could come from the ranks of the agency’s regional administrators, according to E&E, with enforcement chief Cynthia Giles another possibility.
Energy Secretary Ernest Moniz was talking about infrastructure challenges in the age of drilling in the Bakken and Marcellus Shale, while he was being questioned about the role of renewable and sustainable energy over the long term, during a session at Carnegie Mellon University Monday that was linked to the Obama administration's Quadrennial Energy Review, the Pittsburgh Post-Gazette reports.
Apache should stick to drilling in the U.S. and sell off its international operations, as it’s lagging behind companies that operate exclusively in American shale, according to a letter sent Monday by activist investor and hedge fund Jana Partners LLC, which owns at least a billion dollar stake in the company, The Wall Street Journal reports.
An experiment in carbon capture technology at a Saskatchewan power plant will have to be replicated many times if the fight to rein in greenhouse gas emissions is to gain any traction, The New York Times reports.
An analysis by the group Media Matters found more air time on Sunday talk shows was devoted to climate change issues during the first half of this year than in the last four combined, The Hill reports.
Conservationdrones.org is working to boost the use of the small unmanned craft for conservation purposes around the world, from monitoring illegal fishing in Belize to keeping track of seabird populations in Australia to studying caribou in Greenland, The New York Times reports.