Energy Roundup: Gulf Hit Hard by Ike, Iraq to List New Fields, Exec Moves, and More
Gulf production hit harder than thought by Ike -- The federal Minerals Management Service has revised its calculation of Gulf rigs destroyed or severely damaged by Hurricane Ike. At present, Gulf oil production stands at 48 percent and natural gas at just over 47 percent. Twenty-three rigs have been confirmed destroyed and 111 of 694 manned platforms currently stand evacuated. [Source: RigZone]
Iraq to announce list of new fields to be tendered -- Iraq says it plans to announce a list of oil fields, expected to be in the southern, central and northern parts of the country, to be tendered in its second licensing round since the war. [Source: RigZone]
PetroSun going green in China -- PetroSun has inked a $40 million deal to build a commercial algae farm pilot study with Shanghai Jun Ya Yan Technology Development in mainland China. The algae farm plant is to produce algae biomass to make biodiesel and ethanol, as well as other commercial products. [Source: NewsBlaze]
RWE buys biomass project from Helius for $28 million --In other biomass news, Germany's RWE Innogy will pay some $28 million for an unfinished biomass plant project in Stallingborough, U.K. developed by Helius Energy. Helius says it reckons a profit of about $20 million on the deal. RWE says it will invest $380 million to complete the plant, which is scheduled to begin operations in 2011 with a capacity of 65 megawatts. [Source: StrategyEye Cleantech]
Exec moves at Smith, W&T Offshore -- Smith International, the oilfield drilling technologies supplier, announced that John Yearwood will become the company's new, president and COO starting next year, replacing Doug Rock. Yearwood, is currently Smith's EVP and president of completion and production and is a member of Smith's board of directors. W&T Offshore, an independent oil and natural gas exploration and acquisition company, has announced the appointment of Jamie L. Vazquez as president. Tracy W. Krohn previously held the position and will stay on to as chairman and CEO. [Source: Rigzone, Rigzone]
Thin-film solar firm Sencera gets $15.6 million from Quercus --Sencera, a thin-film solar firm from North Carolina, has won $15.6 million in series B funding from Quercus Trust to help finance its new $37 million factory in Charlotte, N.C. Sencera says it hopes to produce 35 megawatts of solar cells beginning in 2009. [Source: StrategyEye Cleantech]
Wind turbine firm Northern Power raises $37 million -- Vermont-based wind turbine producer, Northern Power, says it's getting $37 million from RockPort Capital Partners and Allen & Co. The company says its total equity funding now stands at $56 million. Northern Power, a subsidiary of Wind Power Holdings, will use the cash to develop its Northwind 100 turbine to produce more than two megawatts of turbine for utility-scale wind farms. [Source: StrategyEye Cleantech]