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‘Heat Mining’ Backed In Geothermal Energy Report
A comprehensive new MIT-led study of the potential for geothermal energy within the United States has found that mining the huge amounts of heat that reside as stored thermal energy in the Earth’s hard rock crust could supply a substantial portion of the electricity the United States will need in the future, probably at competitive [...]
Read moreTransocean Gets New Statoil Contract, Total Extension With Total Value of Up to $555 Million
Offshore drilling contractor Transocean Inc. said Thursday it got a three-year drilling contract from Statoil and a one-year drilling contract extension from Total E&P UK Plc, with total potential revenues of about $555 million.
The contract for Statoil, which begins in October 2008, could mean $427 million in revenue. It is for operations off Norway’s coast.
Factory orders ring up their best gain in a year
Orders to U.S. factories surged in March by the largest amount in a year, an encouraging sign that the recent slowdown in manufacturing may be ending.
The Commerce Department said Wednesday that total factory orders rose 3.1 percent in March, pushed higher by a big jump in demand for commercial aircraft and the biggest rise in [...]
Australia’s Oil Mining Exploration company was started drilling in the Pendalian-3
Perth-based oil and gas explorer Oilex Ltd (ASX:OEX) said it has started drilling wells to be finished in the Pendalian-3 oil field in Kampar Barat, Central Sumatra in 13 days.
Work will continue on a comprehensive test that will take another 14 days, the management of the company said.
Drilling in the oil field, which was found [...]
Onset of winter drives up coal prices in China
Surging market demand as winter sets in is pushing up coal prices in China.
The price per ton in Shanxi, China’s top coal producing province, was up 40 yuan (about 5 U.S. dollars) on the end of October, and the price of high-quality coal rose even more.
Experts said heavier demand — due to greater dependence on [...]
