Energy

Total SA of France has become the first oil major to back shale gas exploration in Britain by announcing that it will commit £30 million to advance drilling projects in Lincolnshire. Total will pay $1.6 million in back costs and fund a work programme of up to $46.5 million, with a $19.5 million minimum commitment.

As we have recently seen in our extensive coverage of Trinidad & Tobago’s state oil company Petrotrin and its engagement in the exploration, development and production of hydrocarbons as well as the manufacturing and marketing of petroleum products, this island nation’s near term future is largely defined by its onshore and offshore resources. Major and junior exploration companies are scrapping over new licences and preparing to pour billions of dollars into development projects.

Over the last two decades the West African country of Ghana has successfully evolved into a stable and mature democracy. Hand-in-hand with this development has been the emergence of its blossoming economy, one that continues to grow ahead of the average for the African region, with GDP growth registered at 15 percent in 2011 and 7.9 percent in 2012.

According to a new report Cleantech Redefined: Why the Next Wave of Cleantech Infrastructure, Technology and Services Will Thrive in the 21st Century, by research firm Kachan and non-profits As You Sow and the Responsible Endowments Coalition, the second most popular retail investment during 2013, after property, was in clean energy; a quarter of all venture capital in 2012 went into clean technologies; and in the third quarter of 2013 venture capital deals for clean tech were 64 percent higher than in the first quarter, clear sign of an upturn.

The measure opens up state-run oil fields to foreign investment, allowing private firm to explore and extract oil and gas alongside the state-run company Pemex, and subsequently claim a share of any profits made.

Following the Senate vote President Enrique Pena Nieto wrote on Twitter that it was "a significant decision for Mexico". Mr Pena Nieto said it was necessary to modernise Mexico's energy sector and increase oil production, which has dropped from 3.4 million barrels per day in 2004 to the current rate of 2.5 million barrels per day.

It was in 2011 that Range Resources entered into the oil market of Trinidad. A listed oil and gas exploration, development and production company already boasting interests in Puntland, Somalia, Texas, USA and the Republic of Georgia, Range’s arrival on the Caribbean’s southernmost island nation was instigated through the acquisition of 100 percent interest in three production licences, Morne Diablo, South Quarry and Beach Marcelle.

In more than two decades since the first wind farm project was realised in 1992 at Bellacorrick, County Mayo, wind energy’s contribution to Ireland’s electricity supply has steadily risen to the point where it had installed 1.7GW of capacity by the end of 2012.

With the country now tasked with achieving its national targets for renewable energy by 2020, which calls for 40 percent of its electricity to come from renewable sources, an estimated 5,500 to 6,000MW of wind generation is required.

The situation for obtaining gasoline, diesel oil and other oil products in Costa Rica is not ideal just at present. Following an accident in 2011 it was decided that the country’s refinery at Moin, part of the Caribbean, or east coast, port of Limón, was too expensive to run, and since then the country has relied entirely on imported petroleum products.

To some, solar power represents the perfect environmental energy source, one which will be ever present so long as the sun continues to shine. Arguments for solar power also draw on the fact that solar power plants promote clean energy production by producing virtually nothing in the way of pollution, thereby reducing greenhouse gas emissions and the carbon footprint of a project.

The Agete-1 well is located close to the Ugandan border and the discovery there of “sampled moveable oil” marks the fifth such find in Tullow’s exploration across the region, following oil strikes in its Twiga South, Ekales and Ngamia fields.