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UT Austin to Lead $58 Million Effort to Study Potential New Energy Source

Methane hydrate may soon become a new energy source due to a $58 million fund that will allow for a research team, led by The University of Texas at Austin, to explore frozen methane under the Gulf of Mexico. The Institute for Geophysics and the Jackson School of Geosciences at the university will be teaming…

Chevron Invests $800,000 in The University of Texas at AustinNews

Chevron Corp. has been a long-time partner of The University of Texas at Austin through its University Partnership Program and has recently gifted the university $800,000. The University Parnership Program mainly supports programs in the McCombs School of Business, Cockrell School of Engineering and Jackson School of Geosciences. Chevron and its subsidiaries have invested over…

UT gets money to study new energy source in Gulf

The University of Texas at Austin has just received one of its largest government grants ever: $41.2 million to go toward investigation of methane hydrate as a potentially massive energy resource. The government grant combined with industry and research partner funding equal $58 million that will fund the effort. The research team will start by…

Mexico upstream bidding to start with shallow-water assets

Mexico will be publishing its bidding requirements in November, outlining technical logistics for the first found of upstream bidding. The country will be opening the bidding sequence with shallow-water assets, and from there move into extra-heavy oil, unconventional assets, and deep water. by Paula Dittrick, Oil & Gas Journal, October 20, 2014 Mexico plans to publish…

Fuel pipeline will go from Mexico to U.S.

Fuel pipeline will go from Mexico to U.S.

San Antonio-based NuStar announced Wednesday its plans to develop a pipeline in partnership with PMI, an arm of Mexico’s Pemex. The two companies will share costs of construction on the pipeline and storage assets, and NuStar will manage construction and operation of the line. The pipeline is planned to transport liquefied petroleum gas and refined…

Argentine Senate OKs Energy Bill Aimed At Luring Shale Investors

On Thursday, the Argentina Senate approved a bill aimed at increasing incentives to lure foreign investors in order to develop vast shale reserves and erase the country’s costly energy deficit. Argentina is said to need as much as $200 billion in investment over the next 10 years in order to exploit its Vaca Muerta oil…

Pemex signs MOU with ExxonMobil for upstream, downstream cooperation

A memorandum of understanding and cooperation between Pemex and ExxonMobil was signed Thursday. This MOU follows similar agreements between Pemex and BHP Billiton and Malaysia Petronas, following the opening of Mexico’s oil and gas sector to foreign investment. The wording of the agreement with ExxonMobil allows for a potential alliance as the first rounds of…

China faces risks in Brazil’s energy sector

Since 2009 China has invested over $10 billion for oil development in Brazil. Currently, due to price controls, local content requirements and the looming Brazilian presidential election, the investment is entering a cautious mode. by Paul Welitzkin, China Daily USA, October 12, 2014 China has put billions in Brazil’s energy sector since 2009, but a report…

Pemex Optimistic for Ultra-Deep Water Find in Gulf of Mexico

According to Pemex Exploration and Production Director Gustavo Hernandez, the company is expecting to make a crude oil discovery at the Vasto-1 ultra-deep water exploratory by the end of the year. This expectation is coming after the newly found evidence of hydrocarbon content in the well. by Adam Williams, Bloomberg, October 10,2014 Petroleos Mexicanos, Mexico’s…

TT’s oil production hits two-year high

TT’s oil production hits two-year high

T&T’s oil production hit a two-year-high in September according to the Ministry of Energy, producing an average of 84,848 barrels per day. This information came to public eye after an October 3 meeting of Energy Ministry officials. by Aleem Khan, Petroleum World, October 13, 2014 The Ministry of Energy said T&T’s oil production hit a two-year…

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