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bp starts oil production at Argos platform in the Gulf of Mexico; first new platform since 2008

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bp has successfully started oil production at its Argos offshore platform, strengthening bp’s position as a leading producer in the deepwater US Gulf of Mexico. Argos is the centerpiece of bp’s Mad Dog Phase 2 project, which extends the life of the super-giant oil field discovered in 1998. Earlier post.) bp is the operator with 60.5%

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Bloom Energy and Samsung Heavy Industries team up to build ships powered by solid oxide fuel cells running on natural gas

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Bloom Energy and Samsung Heavy Industries (SHI), a part of Samsung Group, today are collaborating to design and develop ships powered by Bloom Energy’s solid oxide fuel cell technology. Today, 80% of the world’s shipping fleet runs on heavy fuel oil, or bunker fuel. Bloom Energy Servers use natural gas, biogas or hydrogen as fuel.

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Douglas-Westwood: oil & gas industry need to push High-Pressure - High Temperature envelope

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In its latest Monday note, energy research company Douglas-Westwood wrote that the Exploration & Production industry (E&P), experiencing rising global hydrocarbon demand as well as rising costs, is facing the technical challenge of the development of High Pressure – High Temperature (HPHT) reserves.

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New USGS oil and gas assessment for Bakken and Three Forks formations boosts estimates of recoverable oil two-fold, natural gas three-fold

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The United States Geological Survey (USGS) released an updated oil and gas resource assessment for the Bakken Formation and a new assessment for the Three Forks Formation in North Dakota, South Dakota and Montana, resulting in a two-fold increase in the estimated technically recoverable oil, and a three-fold increase in estimated natural gas.

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Liquid Robotics and Schlumberger form joint venture for wave-powered autonomous marine vehicles for oil and gas industry

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and Schlumberger have created Liquid Robotics Oil & Gas , a joint venture to develop services for the oil and gas industry using Wave Gliders, the first wave-powered, autonomous marine vehicles. Initial customer deliveries of the Wave Glider unmanned maritime vehicle (UMV) took place in 2008. Liquid Robotics, Inc.

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BTG and GoodFuels exploring options for joint investment to convert pyrolysis oil to low-carbon fuel for ships

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Biomass technology group BTG plans to set up a new high-tech technology company that can convert crude pyrolysis oil into diesel fuel suitable for the shipping sector. It will be the first refinery in the world for an advanced marine biofuel based on pyrolysis oil. The new facility will be operated by a new company named BTG-neXt.

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Commentary: Could falling oil prices spark a financial crisis?

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The oil and gas boom in the United States was made possible by the extensive credit afforded to drillers. As is the nature of the junk-bond market, lots of money flowed to companies with much riskier drilling prospects than, say, the oil majors. The situation will compound itself if oil prices stay low.