Oil and gas industry announcements: February 3 2015

AEN

America’s Energy Network (AEN) will be launching a television service dedicated exclusively to the energy industry. The network will film the debut of its premiere show NAPE TV, at the NAPE Summit, Houston, Texas. In order to meet the network’s full time launch in the fall of this year, Jim McGowan, President and CEO of AEN has teamed up with Dallas based Arkleus Broadcasting to handle production.

Edison

Kim Fustier, Analyst, Edison Investment Research has commented on BP’s results. “BP’s results were more resilient than expected thanks to decent downstream results and the positive impact of a weaker rouble on Rosneft’s earnings. Some of these impacts are transitory and could wash out in the next few quarters. Unlike at Shell, BP chose to take large impairments this quarter in upstream to reflect the lower crude price environment, mainly in the North Sea, Angola and Brazil.

“BP’s 20% capex cut in 2015 versus previous guidance will come as no surprise after Shell’s and Chevron’s earlier announcements. However, the scale of the reduction highlights BP’s greater capex flexibility compared to some of its supermajor peers, as BP has less capital tied up in mega projects.

“2015 will be a challenging year for BP given weaker oil prices and further potential Mocondo liabilities, but with gearing under 17% its dividend is well supported in the medium term.”

HARC

Research scientists from several leading US atmospheric chemistry laboratories plan to perform state of the art air quality measurements in the Manchester, Galena Park and Milby Park neighbourhoods of Harris County, Texas, as part of the Benzene and other Toxics Exposure (BEE-TEX) study. Their efforts will take place during this month and will be coordinated and evaluated by the Houston Advanced Research Center (HARC) through a grant of US$3.2 million from Harris County under a Coastal Impact Assistance Program (CIAP) award from the US Department of the Interior.

Measurements will include Computer Aided Tomography (CAT) scans of air over a community bordering industrial facilities using light emitting diodes (LEDs) and mirrors mounted on towers. Human exposure to ambient air pollution will also be evaluated with cultured human lung cells. In addition, three mobile laboratories equipped with fast chemical monitoring devices, portable meteorological stations, and global positioning systems (GPS) will map ground level pollutant concentrations while travelling through neighbourhoods.

Prometheus Energy

As temperatures plunge across the US and the hearty residents of the Northeast weather another polar vortex filled winter, Prometheus Energy Group, Inc. is helping energy users fight back with an unlikely solution. Similar to fighting fire with fire, they are battling the bitterly cold weather with an even colder cryogenic fuel; LNG. Building off the success of last year’s regional activity, Prometheus Energy is now engaged in multiple local LNG supply agreements, including the above referenced turnkey LNG service. At this particular site, LNG is used to fuel numerous steam boilers and a cogeneration facility providing a cleaner burning, reliable, and better priced natural gas fuel solution throughout the winter months.

Edited from press releases by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/refining/03022015/oil-gas-sector-announcements/