Energy

Royal Dutch Shell is in exclusive talks with the Finnish fuel distributor St1 to sell the oil major's Swedish refinery, it has been announced.

The Gothenburg refinery has simple-to-medium complexity, allowing it to process low-sulphur light crude from the North Sea; but not high-sulphur crude.

With a processing capacity of about 78,000 barrels of crude oil per day, the refinery supplies the domestic market with specialist fuels, such as diesel that does not freeze in the cold Scandinavian climate.

UK oil giant BP has revived the sale of its Alaskan assets after failing to sell them to US oil and gas company Apache in July, according to a report in the Financial Times.

Houston-based Apache is said to be still in the running to purchase the assets, while US-based Occidental Petroleum is also seen as a potential bidder.

The FT said it is not yet known whether BP is planning to sell its entire 26 per cent stake in the giant Prudhoe Bay oilfield, which includes the operating rights.

Africa-focused oil company Afren has announced strong interim results on the back of higher oil prices, and looks set to double production this year.

The London-based company recorded pre-tax profits for the six months to 30 June of $75.4 million (approximately €59.2 million).

In recent times Ghana has emerged as a potential major new oil player in West Africa’s resource-rich region. Tullow Oil Ghana’s Stuart Wheaton tells Andrew Pelis of the challenges at the forefront of discovery.

As governments around the world invest in power infrastructure, competition has become rife within this specialist construction sector. Mr V. Balasubramanian talks to Andrew Pelis about the strategy that has helped KEC International Ltd to make the most of the opportunity.

The global economic downturn has meant opportunity for AMEC Minproc to expand its activities in Africa, as Ruari McCallion learns from Colin Kubank.

Denman Instrumentation Ltd, based in Hull, England, has secured a major contract with French power engineering company Alstom on a €1 billion joint repowering and new construction project in the southeast of the Netherlands.

The complex project involves the integration of three new gas turbines into a former steam power plant near Maastricht to form a 1,280 MW combined cycle power plant. The project features the most advanced technology available for a power plant and will reduce CO2 emissions by 40 per cent.

Suntech Power Holdings Co Ltd, China's largest maker of solar panels, has signed a deal to develop solar plants in South Africa with up to 100 megawatts in capacity.

The move comes as South Africa looks to increase its clean energy output, as well as boost manufacturing and infrastructure as its seeks to broaden its economic appeal beyond its wealth of natural resources.

The total investment required for building a 100 megawatt solar power plant is estimated to be between $350 million and $400 million.

The race is on to find alternative energy sources that are economical and green. WaterFurnace International vice president Bob Brown explains to Andrew Pelis how one very natural source is fueling the company’s growth.

Any way you look at it, the current climate, both economically and ecologically speaking, has put extra pressure on every household and business. Soaring energy bills and the need to be environmentally aware have changed the approach each of us takes to our everyday lifestyle.

Edinburgh-based Cairn Energy has said it may have found oil in the untapped waters of western Greenland.

Cairn, which is the only firm so far to have been allowed to drill for oil off Greenland, said that it has found gas in thin sands in the Baffin Bay basin, which could be a sign of oil. The area lies around 400 kilometres north of the Arctic Circle.

The company said it is still too early to gauge the significance of the find, as the well has not yet been drilled to its total depth.