IRJ – January 24 –The first woman to run one of the world’s top five oil companies, Maria das Gracas Foster, is set to take over the industry’s largest investment plan with Petroleo Brasileiro SA’s $225 billion proposal, aiming to more than double its output over the next 10 years.
Petrobras, the world’s fifth-largest oil producer, announced Foster’s promotion to ...
IRJ – January 24 – The Energy Information Administration has predicted that U.S. natural gas production could potentially triple by 2035.
According to a new report, the 5 million cubic feet of gas produced in 2010 accounted for 23 per cent of the total global dry gas production.
The report predicts that by 2035, gas production could account for 49 per ...
IRJ – January 23 –Last week’s rumours proved true as the European Union (EU) passed plans to enact sanctions on oil trading between its member states and Iran, Monday, but now reports have surfaced which reveal that U.K.-headquartered energy multinational British Petroleum (BP), accompanied by Downing Street, lobbied U.S. legislators to exempt one of the company’s projects from such measures. ...
IRJ – January 23 – The chief executive of Brazilian state-run oil and gas giant Petrobras, Jose Sergio Gabrielli, is to step down from the company and assume a government role in his home state of Bahia prior to running for governor of the state in 2013, according to financial broadsheet Valor Economico, Monday. Gabrielli, who has headed up ...
IRJ – January 20 – Iran is set to incur oil sanctions from the European Union (EU) on Monday, according to an EU Diplomat source speaking to CNN news agency, Friday. In addition, the EU will also target precious metals and gold and seek to freeze the nation’s financial assets, says the source. Data compiled by the U.S. Energy ...
IRJ – January 20 – Four high ranking individuals from the Rwandan army have been detained in custody over alleged involvements in illegal mining activity in the east of the Democratic Republic of Congo (DRC). Their arrest, said to be over “acts of indiscipline,” have aroused suspicion about high level army dealings in criminal activity related to natural resource projects. ...
IRJ – January 19 – Sierra Leone is planning to publish mining revenues online in a bid to up transparency as the sector grows, according to comments made by Mines and Mineral Resources Minister Minkailu Mansaray in Freetown, Thursday. “The extractive sector is projected to improve government revenue considerably both this year and beyond,” he said. “This requires ...
IRJ – January 19 – Rio Tinto’s (“Rio”) general manager of climate change, Allan Jackson, is firmly rooted in the Western Australian government and pastoral industry conscious as he goes about finalising plans to see through a state-first multibillion-dollar agricultural development, The Hamersley Agricultural Project. The project is the first such undertaking that Rio has ever embarked on, and ...
IRJ – January 18 – Shares in Range Resources (ASX: RRS) (AIM: RRL) (“Range”) and Red Emperor (AIM:RMP) (ASX:RMP) (“Red Emperor”) have near-doubled since December as market watchers have keenly anticipated today’s announcement that the partners have spudded their first of two planned exploration wells in Dharoor Valley, Puntland; the first exploration well to be drilled in Somalia for 20 ...
IRJ – January 18 – Explorer-producer Tullow Oil Plc ("Tullow") announced Wednesday that it will team up with energy giant Royal Dutch Shell ("Shell") to explore for "transformational" discoveries in "underexplored frontier basins" in the Atlantic by way of a non-binding memorandum of understanding between the groups. Tullow, whose ascent into the global oil and gas industry consciousness has ...
IRJ – January 18 – Mozambique’s Tete province has seen a mass surge in coal project and related infrastructure development in the past 18 months, and now another player focused on the region, Ncondezi Coal Limited (“Ncondezi”), has teamed up with mining multinational Rio Tinto Group (“Rio”) of London to commence construction studies for port and rail arrangements, Wednesday. ...
IRJ – January 17 – Secret sources from the West African country of Gabon will meet executives from mining giant BHP Billiton to discuss handing over rights to the nation’s biggest iron ore deposit, Belinga, currently held by China Machinery Engineering Corp., Bloomberg reports Tuesday. The undisclosed sources revealed that talks are to be staged at a conference in ...
