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California oil producer applies for LCFS credits for producing crude oil using solar-generated power

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Under California’s Low Carbon Fuel Standard (LCFS), crude oil producers may generate credits for oil that has been produced using innovative methods and delivered to California refineries for processing. Seneca Resource Corporation (Seneca) has applied for LCFS credits for producing crude oil using solar generated electricity.

Oil 150
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Record $86B in 2011 US oil and gas upstream deals, led by unconventional sector with $62B

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United States M&A activity for upstream oil and gas deals set records in 2011 for both deal values and deal counts, according to PLS, Inc., a provider of information, marketing and advisory services for the oil and gas industry. We expect continued strong activity in oil and liquids-rich resource plays in 2012.

El Paso 225
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Saft delivers first Intensium Flex Li-ion system to ECO-H Technologies for oil and gas industry

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The ECO-H System is a patent-pending Hybrid Power Management System for the oil and gas industry developed by ECO-H Technologies and distributed by Tesco Corporation. Saft delivered the battery in December 2013 and will continue working with distributors on systems opportunities in the coming years.

Li-ion 218
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China Yuchai inaugurates new gas engine development project

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China Yuchai International Limited’s main operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL) has inaugurated a new project to develop and produce a full portfolio of natural gas powered engines to complement its existing suite of diesel engines. China’s 12 th Five-Year Plan targets natural gas to make up 8.3%

Gas 199
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Marathon Announces First Oil from Deepwater Droshky Development in Gulf of Mexico

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Marathon Oil Corporation announced that its Droshky development in the deepwater Gulf of Mexico has begun production on time and under budget. At year-end 2009, Droshky had booked proved reserves of approximately 26 million boe. The new well had already been drilled at the time of the incident.

Mexico 307
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Repsol and Alliance Oil to form an exploration and production JV in Russia

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Repsol and Alliance Oil Company have signed a Memorandum of Understanding to form a joint exploration and production (E&P) venture that will serve as a growth platform for both companies in the Russian Federation, the world’s largest oil and gas producer. Repsol also owns a 74.9%

Russia 210
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Exxon Mobil Acquiring XTO Energy in $41B Deal; Enhances US Position in Unconventional Natural Gas and Oil

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Exxon Mobil Corporation is acquiring XTO Energy Inc. The agreement, which is subject to XTO stockholder approval and regulatory clearance, will enhance ExxonMobil’s position in the development of unconventional natural gas and oil resources. in an all-stock transaction valued at $41 billion.

Oil 186