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.
A host of influential Democratic politicians and policymakers descend on Las Vegas Thursday to attend the National Clean Energy Summit backed by Sen. Majority Leader Harry Reid, headlined this year by likely presidential candidate Hillary Clinton, National Journal reports.
SolarWorld is asking the Commerce Department to look into claims that the Chinese military hacked into its computers, suggesting that tariffs could be imposed in retaliation for cyberattacks, The New York Times reports.
Weak factory data in China and Europe weighed on oil prices Tuesday. U.S. benchmark crude for October delivery, at $95.23 a barrel in electronic trading on the Nymex, was 73 cents lower than Friday’s close, while in London Brent crude dropped 87 cents to $101.91, Reuters reports.
In a study examining 100 water wells across the Barnett Shale last year, University of Texas researchers reported finding what could be unhealthy levels of arsenic, although an industry spokesman expressed doubt that drilling would be responsible, the Denton Record-Chronicle reports.
Sonoma County is at the forefront of a movement gaining traction in a number of places around the country: Local governments going into the business of generating clean energy for their residents, the Los Angeles Times reports.
A report for the Maine Technology Institute – commissioned by a man since fired by Gov. Paul LePage – found that the alternative energy sector holds the promise of generating jobs when backed by seed money and investment, according to the Portland Press Herald.
An analysis from the World Resources Institute says 38 percent of the world’s shale gas and oil reserves are located in areas with limited water supplies and concludes that may limit the global development of fracking, FuelFix reports.
Ahead of Toyota’s intended launch next year of a hydrogen fuel cell-powered car, an affiliate of the company has started construction on a hydrogen filling station in Nagoya, Japan, The Wall Street Journal reports.