Sonangol, Maersk Oil and partners strike oil with their first deepwater pre-salt well offshore Angola

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Fully appraising the discovery will take several years and it is far too early to guess the outcome. Maersk Oil entered Angola in June 2005, when it acquired a 50% interest and operatorship of Block 16. In November 2006, it acquired a 50% interest and operatorship of Blocks 8 and 23 with Svenska Petroleum Exploration (30%) and Sonangol (20%). Sociedade Nacional de Combustíveis de Angola Empresa Pública (Sonangol, E.P.),

Algenol Partners With Valero Services on Algae to Ethanol

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and algae-to-ethanol company, and Valero Services, Inc., is a privately owned company founded in 2006. It recently made a series of announcements including the award of a $25 million grant from the Department of Energy as part of the American Recovery and Reinvestment Act, to build a facility in concert with its partner on the project, The Dow Chemical Company. Algenol Biofuels Inc.,

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GM Brazil to Invest R$2B in Expansion and New Line of Chevrolet Small Cars

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General Motors Brazil will invest R$2 billion (US$1.033 billion) to launch a new Chevrolet line of vehicles and to expand its plant in Gravataí, Rio Grande do Sul. The investment is the largest made by the company in its 84 years in Brazil. In 2005 and 2006, it received investments of about US$480 million, resulting in the launch of the Chevrolet Prism in October 2006 and the expansion of its production capacity to 230,000 vehicles per year.

Tokyo Electric Power Licenses Aker Wade to Build Level III Fast Chargers

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Aker Wade Power Technologies has entered into a licensing agreement with Tokyo Electric Power Company (TEPCO) to manufacture and market Level III DC fast chargers for electric vehicles. Since 2006 it has tested more than 300 battery powered cars in the greater Tokyo area.

Major spill from the ExxonMobil Pegasus pipeline in Arkansas

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ExxonMobil said that it observed a few thousand barrels of oil in the area (approximately 84,000 gallons), but is staging a response for more than 10,000 barrels (420,000 gallons) to be conservative. It carries 90,000 barrels of oil per day, almost exclusively Western Canadian crude oil.

Oil 1

Mercedes-Benz hybrid bus to make world debut

Green Cars News

According to the company, the Citaro FuelCELL Hybrid represents a step towards zero emission public transport and an important element in the development of the mobility solutions of the future. A total of 36 buses equipped with fuel cell drivers have already performed well in service with 12 public transport operators as part of the CUTE test carried out by the European Union from 2003 to 2006.