Energy

The energy regulator Ofgem has agreed to fast-track plans by ScottishPower that will see £2.6 billion invested into power upgrades between 2013 and 2021.

The plans will see the creation of up to 1,500 new jobs in Scotland. 

ScottishPower’s detailed proposals outline investment priorities up to 2021 that will enable upgrades to the electricity network in central and southern Scotland. The plans are also designed to help achieve European carbon reduction targets.

Energy service giant Halliburton today announced net income of $906 million for Q4 2011, and $3 billion for the full year.

Income from continuing operations for the fourth quarter of 2011 was $921 million (excluding a $15 billion environmental-related charge), up from $867 million in the third quarter.

UK infrastructure developer Aeternum has revealed plans to develop an energy park near Blackburn in Lancashire, as well as new residential housing.

The company has acquired the 118-acre site of the former Sappi Paper Mill in Feniscowles to the south-west of Blackburn, which it will develop alongside sites at Castleford and Bromborough for mixed use (using the existing attributes of its power station, reservoirs and brownfield land where the mills were situated), together with new homes within the borough.

Iraq has disclosed detailed information about the revenue it received from oil and gas exports in 2009 in a special report.

Iraq's disclosure of the $41 billion it received demonstrates its commitment to the EITI standard, the global standard for transparency of resource revenues.

The information is published in Iraq's first EITI Report, which details production figures and revenues from the sales of oil abroad in 2009.

American DG Energy Inc. has been awarded a $27.4 million contract to supply clean energy to multiple residential buildings located in New York.

Under the terms of the 15-year agreement, the company will install 14 combined heat and power (CHP) systems at multiple residential buildings. The CHP systems, totaling 1050 kW, will be owned and operated by American DG Energy.

American DG Energy offers clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities.

Global M&A activity for upstream oil and gas deals in 2011 totaled $170 billion in 726 deals, according to a new report.

The report from PLS, Inc. in conjunction with international partner Derrick Petroleum Services, includes all upstream oil and gas deals with values disclosed.

"Total deal value in 2011 dropped 19 percent from 2010 record levels, yet the number of deals increased 15 percent to a record of 726,” said Ronyld W Wise, president of Houston-based PLS, Inc.

ThermoEnergy Corp has announced the completion of a 28,000 square foot expansion of the manufacturing facility at its Worcester, Massachusetts corporate headquarters.

The expansion will more than double the manufacturing space available to ThermoEnergy, a diversified technologies company engaged in the development and sale of municipal and industrial wastewater recovery and clean power generation technologies.

Sulaiman Al-Rumaih, vice president of the Energy and Industrial division of the Tamimi Group, talks about the dynamic expansion of the business within the Kingdom of Saudi Arabia and beyond. Jayne Alverca reports.

Afric Oil, South Africa’s first BEE oil company, is embarking on a strategy to achieve security of supply and growth in the marketplace, as finance director Mangadi Dikotla explains to Gay Sutton.

UK-based Subsea 7 has won a contract worth $185 million from Elf Exploration UK on the West Franklin Field in the Central Graben area of the North Sea.

The scope of the subsea, umbilicals, risers and flowlines (SURF) contract includes engineering, procurement, fabrication, installation and commissioning of the Sealine Package associated with the West Franklin Phase 2 Development.