Industry News

• Teak plans Eagle Ford pipeline

  22 February 2012 @ 6:48 am

  Teak Midstream will build a $280 million natural gas pipeline system in Texas that will link fields run by Talisman Energy and Statoil in the Eagle Ford basin to Teak's new processing plant in South Texas.

• Statoil awards Technip Asgard contract

  22 February 2012 @ 6:29 am

  Statoil has awarded an installation contract valued at over €150 million ($198.6 million) for its Asgard subsea compression project offshore Norway to Technip, the French engineering company has announced.

• BHP gets nod for Philippines farm-in

  22 February 2012 @ 5:15 am

  The Philippines government has approved the transfer to BHP Billiton of a 60% operating interest in deep-water exploration block SC55 where the Cinco-1 well is planned to be drilled.

• Dyna-Mac down on lower volumes

  22 February 2012 @ 5:14 am

  Singaporean specialist module fabricator Dyna-Mac earned net profit of S$5.6 million (US$4.4 million) in the seven-month period ended 31 December 2011, down 54% year-on-year due to a lower work volume.

• Brent falls on euro zone worry

  22 February 2012 @ 5:02 am

  Brent crude fell toward $121 on Wednesday, retreating from a nine-month high, as China's manufacturing sector shrank for a fourth straight month and worries about the euro zone debt crisis resurfaced, casting doubt on global economic health and prospects for fuel demand.