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Industry Moves Archive: November to December 2005

 Jan - Mar   Apr - May   Jun - Aug   Sep - Oct 
 
EnCana Divests Its Natural Gas Liquids Business01/11/2005
EnCana Corporation and certain affiliates reach agreement to sell substantially all of their natural gas liquids business to Provident Energy Trust for approximately US$586 million (C$697 million), before adjustments.


AMEC Creates Combined Design and Project Services Business08/11/2005
AMEC merges its UK design and construction businesses into a new Design and Project Services division employing a total of 4,500 employees. In the North West, operations at Birchwood and nearby Adlington will be merged. Most of the 200 employees at Adlington will move to Birchwood, although it is likely that there will be some redundancies amongst office support service staff.


Snorre A Blowout Causes Analysed08/11/2005
An extensive causal analysis of the gas blowout on Statoil's Snorre A platform on 28 November 2004 has been submitted to the Petroleum Safety Authority Norway (PSA). This study has been conducted to identify how the incident could occur on the North Sea installation and to assess further measures for improving safety in Statoil.


Hydro Develop Hywind Concept for Producing Power at Sea09/11/2005
Hydro develop new concept for producing power at sea named Hywind. Floating concrete construction technology developed for the North Sea oil industry will be applied to offshore windmills.


Halliburton AS Acquires Norwegian Process Technology AS09/11/2005
Halliburton's Norwegian affiliate, Halliburton AS, acquires assets of Norwegian Process Technology (NPT) AS to support the increasing market demand for nitrogen services within energy production and processing industries.


TransCanada and ConocoPhillips Pipe Line Co Sign MOU09/11/2005
TransCanada Corporation, ConocoPhillips Company, and ConocoPhillips Pipe Line Company (a wholly owned subsidiary of ConocoPhillips Company), enter into Memorandum of Understanding which commits ConocoPhillips Company to ship crude oil on the proposed Keystone oil pipeline and gives CPPL the right to acquire up to a fifty per cent ownership interest in the pipeline, subject to certain conditions being met.


EU Urged to Review Russia-Germany Gas Pipeline10/11/2005
Presidents of Estonia, Latvia and Lithuania call on European Union to seriously consider their countries' environmental concerns over a planned gas pipeline that would run through the Baltic Sea between Russia and Germany.


Greece and Italy To Sign Gas Pipeline Agreement10/11/2005
Greece and Italy sign agreement for construction of an undersea natural gas pipeline between the two countries, the Greek Development Ministry said. The 212 km pipeline will be built by Poseidon, a joint venture of Greece's state-owned gas supplier Depa and Italy's Edison SpA, at a total cost of EUR300 million.


U.S. Department of Energy Fund Methane Hydrate Projects10/11/2005
U.S. Department of Energy announces a total of $2 million in funding to five research projects that will assess the energy potential, safety, and environmental aspects of methane hydrate exploration and development. Termed the "ice that burns," methane hydrates are crystalline solids that release a flammable gas when melted.


Emission Trading in Russia14/11/2005
Statoil sign collaboration agreement with Danish company Russian Carbon Fund (RCF) to buy emission quotas for greenhouse gases in Russia. The deal will help meet quota obligations and fulfil the Kyoto protocol.


BP and Sinopec Establish Nanjing Acetic Acid JV14/11/2005
BP and Sinopec Corp. held a ceremony at The Diaoyutai State Guest House to celebrate the establishment of BP YPC Acetyls Company (Nanjing) Ltd., an acetic acid joint venture between BP and Sinopec Corp. The joint venture will build a 500,000 tonne per year acetic acid plant which is expected to be on stream in the 2nd half of 2007.


Brazil Launches Program to Train 70,000 Oil Workers23/11/2005
Brazil's government is launching a BRL220 million ($99 million) program to train 70,000 new employees in the booming oil sector through the end of 2007, Brazil's state-run oil firm Petroleo Brasileiro SA, or Petrobras, has stated. The program plans to train 64,000 basic level employees and 6,000 with university educations.


Shell to Start Seismic Operations in Libya23/11/2005
Shell EP Libya GmbH, together with partner National Oil Corporation of the Great Socialist People's Libyan Arab Jamahiriya (NOC) started seismic operations in the onshore Sirte Basin this week. Contracts awarded for deployment of four seismic crews with phased start up between November 2005 and March 2006.


Hydro Acquires EnCana's Interest in Chinook Field Offshore Brazil24/11/2005
Norsk Hydro ASA Hydro enters agreement with independent Canadian oil and gas company EnCana Corporation to acquire all of the issued shares of an EnCana subsidiary for a cash consideration of 350 million US dollar on a debt-free basis. The EnCana subsidiary holds a 50 percent interest in the promising Chinook discovery in the Campos basin in Brazil.


Statoil Sign Agreement with Scottish Power for UK Gas Delivery28/11/2005
A 10-year agreement to deliver 500 million cubic metres of gas per annum from October 2007 has been concluded by Statoil with the Scottish Power gas and electricity supplier in the UK. Statoil has about 10 per cent of the UK gas market.


AMEC Initiates Sale Process of AMEC SPIE28/11/2005
AMEC initiates sale process of AMEC SPIE following completion of the first stage of an ongoing review of AMEC's options for maximising long-term growth. AMEC has built three businesses, which when reviewed showed increasingly different investment propositions.


BP Forms BP Alternative Energy29/11/2005
BP to double its investment in alternative and renewable energies to create new low-carbon power business with growth potential to deliver revenues of around $6 billion a year within the next decade. BP Alternative Energy will be based in Sunbury, Middlesex and initially employ some 2,500 people around the world.


Shell and Naftogaz Ukrainy Sign Cooperation Agreement02/12/2005
National Joint Stock Company Naftogaz Ukrainy and Shell Exploration and Production have signed a Cooperation Agreement covering licenses, agreed work programme levels and the main terms of joint activities at a ceremony attended by President of Ukraine Victor Yushchenko, British Prime Minister, the Right Honourable Tony Blair, Chairman of the Board of NAK Naftogaz Ukrainy Olexiy Ivchenko and Shell's Executive Director for Exploration and Production, Malcolm Brinded.


UK Oil & Gas Producers Respond to Pre-Budget Report06/12/2005
UKOOA shocked by Chancellor's decision to impose a 20 percent Supplementary Corporation Tax rate on UK oil and gas producers, which will raise the rate at which the industry pays Corporation Tax to 50 percent. This will take an extra £6.5 billion out of the industry over the next three years when Treasury will already reap £11 billion in tax revenues from North Sea producers this year, double the amount paid last year, and treble the amount forecast 2 years ago.


Massive Explosions Hit Fuel Depot11/12/2005
Three large explosions rock fuel depot near Hemel Hempstead in England. Police have reported casualties and emergency services are at the scene. The first explosion happened at 0603 GMT at the Buncefield fuel depot.


Aker Kvaerner To Create New Jobs On Teesside23/12/2005
Aker Kvaerner Offshore Partner Ltd, headquartered in Aberdeen, to open satellite office in Stockton-on-Tees, UK, responsible for a range of upstream oil and gas projects, and modification work. The office is located within the existing Aker Kvaerner premises at Ashmore House, Stockton-on-Tees and will be operational from January 2006.


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