E.ON adds US-based Colbeck’s Corner Wind Farm to its renewable portfolio

by Timothy Reeder | Aug 8, 2016 | News

With Colbeck’s Corner, E.ON is putting a new industrial-scale onshore wind farm into operation in the United States. The project, located east of Amarillo, Texas, has an installed capacity of 200 megawatts. The 112 turbines can generate enough energy to supply...

Leadership changes for Siemens Power Generation Services Division

by Timothy Reeder | Aug 5, 2016 | News

Effective October 1, 2016, Tim Oliver Holt (46), who is currently CEO of the Power and Gas Business Unit within the Power Generation Services Division, has been appointed CEO of the Power Generation Services Division. Holt’s replacement in his Business Unit...

Bolivia: Total starts up production at Incahuasi gas field

by Timothy Reeder | Aug 4, 2016 | News

Total has put on stream the Incahuasi gas and condensate field, the Group’s first operated development in Bolivia, with a production capacity of 50,000 barrels of oil equivalent per day (boe/d). “Incahuasi is one of the largest gas and condensate fields brought...

Statoil acquires operated interest in Brazilian offshore licence containing a substantial part of the Carcará pre-salt oil discovery

by Timothy Reeder | Jul 29, 2016 | News

Statoil ASA and Petróleo Brasileiro S.A. – Petrobras (“Petrobras”)  have agreed that Statoil will acquire Petrobras’ 66% operated interest of the BM-S-8 offshore licence in Brazil’s highly prolific Santos basin. The acquisition includes a substantial part of the...

Shell announces Fort Sumter discovery in Gulf of Mexico

by Timothy Reeder | Jul 29, 2016 | News

Shell today announced a new exploration discovery in the deep water U.S. Gulf of Mexico. The initial estimated recoverable resources for the Fort Sumter well are more than 125 million barrels of oil equivalent (boe). Further appraisal drilling and planned wells in...

World Bank Raises 2016 Oil Price Forecast

by Timothy Reeder | Jul 29, 2016 | News

The World Bank is raising its 2016 forecast for crude oil prices to $43 per barrel from $41 per barrel due to supply outages and robust demand in the second quarter. Oil prices jumped 37 percent in the second quarter of 2016 due to disruptions to supply, particularly...