Interesting engineering news and general interest to get you through the week. » Latest Engineering News » Mining, Oil & GasMining, Oil & Gas Where would we be without the benefits that mining, oil and gas have provided us. This is an important sector, providing energy to keep our society going.
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Clipped to the Drawing Board by John William
THE massive tripling in coking coal prices secured by Australian miners for 2008/09 is being called a temporary "spike" caused by the Queensland floods, and analysts are expecting prices to fall back significantly next year.
However, 2009/10 prices are still likely to be around double last year's price, setting up the industry for several more years of windfall revenues.
The world's largest engineering steel producer, Arcelor Mittal, has reportedly agreed to a $US305 a tonne contract price with major producer BHP Billiton, up from $US98 a tonne last year.
On top of that, South Korea's Posco has confirmed it has agreed on a price of around $US300 a tonne, putting pressure on Japanese steel mills to follow suit.
The price-spike has eclipsed the previous record high of $US125 a tonne, which was set in 2005/06.
....click the link to read more
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Wednesday 9 April, 2008 06:27 PM |
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Clipped to the Drawing Board by Barot Casha
Australian-based clean coal engineering energy technology developer, GTL Energy, has been selected by a North American energy consortium to provide its coal beneficiation technology to the proposed $1.4 billion South Heart coal-to-synthetic gas project in North Dakota. Under a Memorandum of Understanding, project partners, Great Northern Power Development (GNPD) and Allied Syngas Corp, said GTLE’s beneficiation technology had been chosen from a worldwide review of coal beneficiation technologies to upgrade the low-quality lignite reserves at South Heart.
The GTLE engineering technology is critical to transforming the local low grade coal into low moisture high grade briquette feedstock for use in the joint venture’s proposed $1.4 billion plant at South Heart in southwest North Dakota, to produce synthetic natural gas by 2013. The commitment validates Adelaide-based GTLE’s proprietary technology which has been developed in the US since installation of its pilot plant facilities in Colorado.
....click the link to read more
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Tuesday 8 April, 2008 11:03 PM |
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Clipped to the Drawing Board by Adam Crighton
With energy prices soaring and oil-company ranks graying, petroleum-engineering graduates have become a hot commodity.
As a result, students are swelling the ranks of college engineering programs, positioning themselves for energy-industry jobs with salaries that make tenure-track professors envious. Top-ranking petroleum-engineering graduates this year can expect starting pay of $80,000 to $110,000, plus signing bonuses and other perks.
....click the link to read more
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Monday 7 April, 2008 06:09 PM |
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Clipped to the Drawing Board by Administrator
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OSLO (Thomson Financial) - Acergy said it has been awarded a pair of contracts by StatoilHydro for subsea engineering work at the Gjoa and Morvin licenses in the North Sea, worth a combined 60 mln usd. ....click the link to read more
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Sunday 30 March, 2008 06:03 AM |
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Clipped to the Drawing Board by Administrator
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March 17 (Bloomberg) -- Royal Dutch Shell Plc, Europe's largest oil company by market value, replaced 124 percent of the oil and natural gas it pumped last year with new discoveries.
So why is oil trading at $110 plus per barrel ??? ....click the links to read more
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Tuesday 18 March, 2008 10:04 AM |
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Clipped to the Drawing Board by Administrator
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THE world’s largest aluminium producer, Rusal , was this weekend putting the finishing touches to $4.5 billion (£2.3 billion) fundraising that should allow it to buy a 20% stake in Norilsk Nickel.
The move will be a significant step towards the creation of a Russian metals and mining group on the scale of industry majors such as BHP Billiton and Vale. Norilsk is the world’s largest producer of nickel. ....click the link to read more
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Monday 17 March, 2008 06:02 AM |
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Clipped to the Drawing Board by John William
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Doom-laden forecasts that world oil supplies are poised to fall off the edge of a cliff are wide of the mark, according to leading oil industry experts who gave warning that human factors, not geology, will drive the oil market. ....click the link to read more
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Monday 21 January, 2008 06:28 AM |
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Clipped to the Drawing Board by Administrator
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IN the tussle over relative value between BHP Billiton and Rio Tinto , commodity futures markets are backing the takeover target. ...click the link to read more
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Sunday 20 January, 2008 02:01 PM |
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Clipped to the Drawing Board by Administrator
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SOFIA, Bulgaria — Russia strengthened its grip on Europe’s energy supplies on Friday as it signed a major gas deal with Bulgaria that analysts said would further undermine the European Union’s attempts to diversify its energy sources. ...click the link to read more
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Sunday 20 January, 2008 04:36 AM |
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Clipped to the Drawing Board by Bob Smith
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The uranium industry says Britain's expansion of nuclear power will bolster Australia's role as a supplier.
The British government has invited companies to construct new nuclear power stations to meet its climate-change goals and will not set a limit on how many are built. ....click the links to read more
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Monday 14 January, 2008 02:03 PM |
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Clipped to the Drawing Board by Tony Elmasri
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The Taca Taca copper-gold porphyry deposit, owned by Canada's Global Copper, has been explored previously by several mining companies - including BHP - but engineers never developed the mine.Seeking to further shore up its defenses against takeover by BHP, Rio Tinto has agreed to spend up to $US203 million ($260.7 million) to gain control of the Taca Taca deposit in Argentina. Rio can earn a 75 per cent interest in Taca Taca after paying Global Copper $US83 million over three years, completing 25,000 metres of drilling and taking responsibility for the first $US120 million of development funding.
...click the links to read more
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Saturday 12 January, 2008 02:03 AM |
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Clipped to the Drawing Board by jackson Browne
RIO TINTO has revealed plans to ship at least 9 million tonnes of iron ore a year via a new $US315 million ($358 million) fleet of three giant vessels to help lock in low long-term freight rates.
Rio is also currently waiting for clarification or otherwise of the BHP takeover offer.
...click the link to read more
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Tuesday 8 January, 2008 04:23 PM |
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Clipped to the Drawing Board by Tony Elmasri
Rio yesterday approved the development of the Eagle nickel project in the United States, 24 hours after it pledged to spend $US793 million ($928 million) on an expansion of the Kestrel coal mine in Queensland.
The company has approved its second major development in two days and flagged plans to sell more iron ore into the spot market as its steps up its defense against predator BHP Billiton Ltd.
Meanwhile, the Chinese Government has reportedly sanctioned large state-owned corporations to look at three strategies to thwart BHP Billiton's proposed offer for Rio Tinto.
....click the links to read more
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Wednesday 2 January, 2008 06:03 AM |
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Clipped to the Drawing Board by Sean
Walking the tightrope between business and politics has become even more difficult for Royal Dutch Shell as it weighs up its Iran options. Huge gas reserves beckon in Iran's vast South Pars gas field but the opportunity needs to be balanced against the strong political opposition from the US. The opportunities will not be on offer indefinitely as rivals are keenly courting Tehran
Company insiders say Shell is "still 12 months away from a decision"and are currently drawing up a final investment plan, as labor and equipment costs in the industry soar making accurate costing impossible
Shell also risks upsetting Washington, where the Bush administration is putting pressure on companies not to do business with Iran because of its nuclear program Pushing back the decision until the end of 2008 has the advantage of it being after the US elections in November, when a new president might tone down the rhetoric against Tehran but this needs to be balanced against rivals coming into the picture and undercutting
...click the link to read more
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Sunday 30 December, 2007 02:04 PM |
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Clipped to the Drawing Board by Ali Hamoud
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As oil prices again ride the "cost per barrel" roller coaster then inevitable the economics of supply and demand should decide the final resting place of oil (at any given point in time) - However the supply-demand formula has one key element - "supply" - but what happens if the supply is rapidly diminishing - many analysts have concluded that the world has passed the critical Peak Oil point, others dispute the findings and preach an alternative creed ....click the link to read more
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Monday 17 December, 2007 10:07 PM |
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Clipped to the Drawing Board by Rose Shah
Petrochemicals giant Sasol has advised that there is significant progress being made to improve operations at the Oryx plant gas-to-liquids joint venture, in Qatar
Technical and engineering difficulties where encounterded in the first part of this year due to higher-than-expected levels of fine material being produced in the Fischer-Tropsch process.
...click the links to read more
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Sunday 16 December, 2007 10:08 PM |
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Clipped to the Drawing Board by Sean
Canadian and English researchers have reported the results of a chemical engineering study for a new method of producing methane gas from old oil wells.
The system involves feeding fertilizer into the wells and this then takes advantage of the natural process which occurs when microbes slowly degrade oil into methane, the chief ingredient in natural gas.
....click the link to read more
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Friday 14 December, 2007 06:02 AM |
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Clipped to the Drawing Board by Peter Wu
Such is the strength of demand for commodities in China that analysts dismiss the US recession as registering only a blip on the "Richter Scale" of activity within the commodities market.
Internal analysis by Rio Tinto, the worlds second largest miner shows that China has accounted for between 60 to 90 percent of global demand growth for iron ore, copper and aluminum since 2000.
The report notes that only about 1.5 per cent of Chinese steel production is directly exported to the US
...click the link to read more
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Monday 10 December, 2007 02:03 PM |
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Clipped to the Drawing Board by Yan Chu
The largest Coal fired Power Plant in China has recently gone into production.
Equipped with four 1,000 megawatt generating units this facility is believed to be the worlds largest coal fired power plant engineered with Ultra-Supercritical Technologies .
This final stage of development completes a project which was started in December 2006 when the first two generators started production. The plant is owned and operated by the China Huaneng Group
Clean Coal power generation remains the elusive target of numerous research projects by countries around the globe. Whilst not the final step, Ultra-Supercritical Technology brings incremental process improvement to the systems and when coupled with Carbon Capture Techniques which are also being developed, the light at the end of the tunnel begins to glow a little brighter
....click the links to read more
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Saturday 8 December, 2007 10:04 PM |
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Clipped to the Drawing Board by Ryan
There is currently a fight going on for control of the seabed of the
North Pole. Russia, Canada and the US think they have rights to it
and the potentially large reserves of oil and gas that may lie there.
As the arctic ice melts, access to these resources becomes more viable. Russia in fact is also getting quite serious about it, planting a Russian flag on the Seabed earlier this year.
If countries are going to go to these lengths over the North Pole, how are things going to pan out for the Moon?
It is predicted that the Moon is rich in helium-3, which is ideal for
use in fusion reactors and also an ideal place to farm solar energy as
well as prepare for journeys out to other parts of the solar system.
Such a resource would be very valuable and have nations have proven
already, they are more than willing to fight over said resources. In
fact, although a little dubious, you can already purchase your own property on the moon. Countries such as China, India, Japan and the US are planning Moon missions already.
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Tuesday 4 December, 2007 02:08 PM |
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Clipped to the Drawing Board by Peter Wu
The world's sixth largest steelmaker, Tata Steel Ltd of India , has backed BHP Billiton's proposed merger with Rio Tinto Ltd, saying it was time for the industry to consolidate.
Tata Steel managing director B. Muthuraman said while there was concern a combined entity could drive up market prices for iron ore, a merger was a necessary outcome.
....click the link to read more
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Friday 30 November, 2007 08:05 PM |
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