Crude Oil Price by oil-price.net

Oil and Gas Energy News Update

Showing posts with label germany. Show all posts
Showing posts with label germany. Show all posts

Tuesday, June 28, 2011

AF Group Awarded Decommissioning Work Offshore Germany

- AF Group Awarded Decommissioning Work Offshore Germany

Tuesday, June 28, 2011
AF Group

The AF Group has been awarded a Letter of Intent with Statoil, on behalf of Gassco as operator, regarding removal and recycling of the Norpipe H7-platform.

The platform is located at the German continental shelf of the North Sea, and has been a part of the pipeline which exports gas to Europe. The Letter of Intent covers planning, engineering, removal and demolition of the installation. The Letter of Intent also includes an option to decommission a similar platform, B11.

Environmental Base Vats on the west coast of Norway will be used as decommissioning site. The site is Europe's most modern decommissioning facility for decommissioned offshore installations.

The contract value is approx. NOK 420 million, excl. abovementioned option works. A condition for the contract is a final decision by the ownership Gassled on the implementation of the removal project.

The work will start immediately, and is planned to conclude by the end of 2016.

"The AF Group has built up expertise and capacity to handle removal and recycling of obsolete petroleum installations. It is therefore a recognition that Statoil, on behalf of Gassco, has chosen us for this mission. The work lays the foundation for further growth within our environmental business in the North Sea," said Pål Egil Rønn, CEO of the AF Group.

Oil & Gas Post

Promote Your Page Too

Wednesday, June 15, 2011

Germany Unveils New Africa Policy, Drops Sudan Visit

- Germany Unveils New Africa Policy, Drops Sudan Visit

Wednesday, June 15, 2011
Deutsche Presse-Agentur (dpa)

Germany unveiled its new policy towards Africa, which shifts the stress away from selfless development aid and puts more emphasis on the German interest in obtaining minerals and oil.

Foreign Minister Guido Westerwelle set out the details just before he was due to leave Berlin on a visit to Sudan. His trip was however cancelled because drifting ash from a volcano erupting in Eritrea, made aviation in the area unsafe.

German business is to be encouraged to negotiate deals that combine investment in the 53-nation continent with extraction rights under the new policy.

The European country's approach to Africa would be "internally consistent, set realistic objectives and serve our values and interests," according to the policy paper.

The center-right government's policy is binding on all ministries and agencies dealing with Africa.

Germany was a colonial power in Africa until the end of the First World War in 1918, when it lost control of all the territories that are today known as Namibia, Tanzania, Rwanda, Burundi, Cameroon and Togo.

Its interest in Africa revived in the post-colonial period, with many Germans eager to use their wealth to end world poverty, but disillusionment soon set in amid reports of waste and corruption.

Under the new policy Berlin adopts a tougher approach to Africa, that requires future development aid spending to achieve "value for money" and better market access for German companies. The 29-page policy document talks of a "partnership between equals" and gives "peace and security in our neighborhood" as Germany's prime objective.

The document also mentions "irregular migration" from Africa as something Berlin wants to prevent.

The paper said Germany will stress its own values in Africa, including good governance and democracy, and hopes the 32 African nations that allow the death penalty will abolish it.

Berlin will also push for more rights for women and an end to laws against homosexuality. However the policy paper does not suggest that aid would be conditional on such countries changing their laws.

"We don't need to infect Africa with the germ of a love of freedom. It exists there already," said Westerwelle.

Referring to the revolts in North Africa, he said, "What we are experiencing in Africa is perhaps the most fascinating proof that the world is changing."

Africa was not being given a big enough place in world diplomacy, according to Westerwelle, noting that no African nation had a permanent UN Security Council seat.

"Africa is seriously under-represented in the global balance," he said.

Several aid groups in Berlin criticized the proposals to put aid under tough scrutiny and require it to yield economic benefits.

A joint response by several non-government organizations said the policy ignored the reality of the lives of the majority of Africans who live in rural areas, putting business interests ahead of beating poverty.

One aid group, Welthungerhilfe criticized the policy's hostility to import controls that protect African industries.

"Sometimes it serves economic development to protect newly created markets for a certain time," said the group's secretary, Wolfgang Jamann.

Chancellor Angela Merkel's cabinet meanwhile passed a resolution to recognize southern Sudan as Africa's 54th independent state when it gains independence from Khartoum on July 9. Westerwelle had been set to visit both parts during his scheduled three-day trip.

Germany will be chairing the UN Security Council when the new state is admitted to the UN next month.

Copyright 2011 dpa Deutsche Presse-Agentur GmbH

Oil & Gas Post

Promote Your Page Too

Friday, May 20, 2011

Arbitration Tribunal Orders Siemens To Pay Areva $927 Million

- Arbitration Tribunal Orders Siemens To Pay Areva $927 Million



May 20, 2011

Siemens AG (NYSE:SI) has been ordered by an arbitration tribunal to pay $927 million to French state-controlled company Areva SA, finding the Munich, Germany based company failed to meet contractual obligations in a nuclear joint venture it exited earlier this year.

The payment, plus interest, will be recorded in Siemens' fiscal Q3 ending in June. Siemens sold its stake in the joint venture to Areva in March for a pretax gain of $2.17 billion.

The French joint venture, previously called Framatome, was the world's biggest maker of nuclear reactors and when it was created a decade ago when Areva and Siemens merged their nuclear reactor businesses in France, Germany and the U.S.

Shares of Siemens are trading down 2.94% at $130.76.

Oil & Gas Post

Promote Your Page Too

Monday, April 11, 2011

Google Shares Down 0.4%; Firm Agrees to Take Stake in German Solar Project

Google Shares Down 0.4%; Firm Agrees to Take Stake in German Solar Project




Shares of Google (GOOG) are down in mid-day trading as the company will pay $5.1 million to buy nearly half of a 18.7 megawatt solar project near Berlin, Bloomberg reports.

A German private-equity company agreed to sell the Internet search giant a 49% stake in the project.

Google shares are down 0.39%, or $2.25, to $575.91.

Thursday, April 7, 2011

Google to invest in German solar power plant

Google to invest in German solar power plant



Google (GOOG) announced today that it has agreed to make its first clean energy project investment in Europe - a EUR3.5M investment in a solar photovoltaic power plant in Germany. The transaction still requires the formal approval of the German competition authorities and is subject to other customary closing conditions. The recently completed facility is located near Berlin.

The power plant has a peak capacity of 18.65MW, which puts it among the largest in Germany. Google agreed to jointly invest in this project with the German private equity company Capital Stage.