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Teen solves centuries-old math problem
Chinese companies approached by Shell
Royal Dutch Shell is discussing partnerships with Chinese oil companies to develop oil fields in Iraq.
Shell's chief executive, Jeroen van der Veer, was recently in China, meeting with officials from companies, including refineries, though he would not release specifics, Xinhua reports.
Officials from China National Petroleum Corp. and China Petroleum and Chemical Corp. did not know whether they might be considered as partners.
Van der Veer said Shell wants to be able to bid on oil fields in Iraq jointly with Chinese oil companies. The bids will take place later this year in June or July.
Peter Voser, who will take over Van der Veer's post July 1, said Shell is planning to maintain its spending at last year's level.
ABB to supply technology to Algeria
Switzerland-based ABB, a leading power and automation technology company, announced it won a $490 million contract to work on Algeria's el-Merk oil and gas project.
The contract is through Algeria's Groupement Berkine, and the project is to develop hydrocarbon deposits in the el-Merk basin in Algeria's portion of the Sahara.
Construction is scheduled to begin around 2012.
"The new installations will help our customer improve output and achieve their production targets," said Veli-Matti Reinikkala, head of ABB's Process Automation division.
The contract in Algeria is one of several projects recently awarded to ABB, including a $400 million transmission order in Kuwait and a $550 million order from Ireland.
Ecopetrol, Anadarko sign agreement
Colombia's Ecopetrol S.A. has signed an agreement with the Anadarko subsidiary Anadarko Exploracao e Producao de Petroleo e Gas Natural Ltd.
The deal was made through Ecopetrol's Brazilian subsidiary, Ecopetrol Oil Gas do Brasil Ltd.
Ecopetrol Oil Gas do Brasil Ltd. will have a 50-percent stake in the offshore BMC-29 concession in Brazil, according to the agreement.
The offshore oil field is located in the Campos Basin in Brazil and has a water depth between 30 and 100 meters.
The agreement is part of Ecopetrol's goal of expanding its presence in Brazil. Ecopetrol is already involved working on other oil blocks in Brazil with Petrobras.
Ecopetrol is also involved in oil and gas internationally in Peru and the U.S. areas of the Gulf of Mexico.
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Closing oil prices, April 14, 3 p.m., London
Brent Crude oil: $52.45
West Texas Intermediate crude oil: $49.95
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(e-mail: energy@upi.com)
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