Energy Roundup: Exploring Offshore Canada, Denali Pipeline Paperwork Underway, TPAO and ExxonMobil Team Up, and More
Repsol, Husky, Petro Canada team to explore offshore Canada -- Partnering with Canadian firms Husky and PetroCanada, the Spanish oil and gas producer, Repsol, has bought exploration rights off the shores of the Canadian islands of Newfoundland and Labrador. Repsol has bought minority stakes in three exploration blocks spread over about 2,500 square miles, which drew bids worth some $23.5 million. [Source: News1130]
BP and ConocoPhillips take first step toward new Denali pipeline -- Denali-The Alaska Gas Pipeline LLC, a joint pipeline venture that includes BP and ConocoPhillips, has submitted its right of way application for a 2,000-mile proposed gas line project to the U.S. federal Bureau of Land Management. The venture seeks to deliver 4 billion cubic feet of natural gas per day daily from Alaska's gas-rich North Slope to markets in the U.S., Canada and Mexico. The Denali pipeline competes directly with a similar project by TransCanada, the Alaska Pipeline Project. Though the TransCanada project enjoys the backing of Alaska Governor and former vice presidential hopeful Sarah Palin, federal officials have given both projects a slim chance of succeeding. [Source: Anchorage Daily News]
Turkey, ExxonMobil, reach Black Sea exploration accord -- With Turkish officials estimating its Black Sea reserves at some 10 billion barrels, the oil-strapped Mediterranean nation's state oil company, TPAO, is set to ink a deal with ExxonMobil to explore its offshore holdings. Turkey hopes to begin drilling late next year or early 2010. [Source: Rigzone]
Hydrocarbons know no new Cold War -- Ignoring the heated "new cold war" rhetoric over the Polish missile shield, Russia's Gazprom, the world's largest extractor of natural gas, is considering two U.S. companies ExxonMobil and ConocoPhillips, to help extract gas in the Russian Arctic. [Source: Rigzone]
Management changes in Duke's nuclear family -- Brett Carter, currently senior vice president of customer service and business development at Duke Energy, is to replace Ellen Ruff as president of Duke Energy Carolinas. Ruff is to become president of nuclear development, and will take charge of the new Lee nuclear power plant near Gaffney, S.C. In addition, Sandra Meyer, president of Duke Energy Ohio and Duke Energy Kentucky, is to take over as senior vice president of power delivery for U.S. Franchised Electric and Gas, which provides electric transmission and distribution systems in Duke's five-state service area. Duke senior vice president of ethics and compliance, Julie Janson, will replace Meyer. [Source: Charlotte Observer]
Ethanol with a sugar coating -- U.S. Sugar Corp. has entered into an agreement with Coskata to explore building a 100 million gallon a year ethanol facility in Florida. The plant would convert left-over sugar and sugar cane waste biomass into the controversial biofuel, so it should not lead to a frappaccino price hike at Starbucks. [Source: Renewable Energy World]