A £1m engineering award up for grabs!

As reported by the BBC, the award, named The Queen Elizabeth Prize of Engineering, will be awarded every two years for outstanding advances in engineering. The prestigious award will be launched later today at London’s Science Museum.

The award, which will be awarded to teams of up to three people, and will be awarded by the Royal Academy of Engineering and overseen by Lord John Browne, former CEO of BP. The award will also be funded by companies such as BAE Systems, Shell and GlaxoSmithKline,  Speaking of the award, Browne stated,

“Engineering underpins every aspect of our lives. As the bridge between scientific discovery and commercial application, engineering feeds and clothes us and enables us to work, travel and communicate.

“But too often the engineers behind the most brilliant innovations remain hidden. The Queen Elizabeth Prize aims to change that.”

It is hoped that the award will help boost the profile of engineering and help encourage more young people to consider it as a career path.

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Shell Profits Allow For New Projects

The BBC has reported that oil and gas giant Shell recorded a 77% rise in profits in the second quarter of 2011.

The $8 billion profit is roughly double that of the same period in 2010, with the company attributing this to sales of assets in the first half of the year, amounting to $4 billion.

The sales were said to be a “key driver” in the reduction of costs and improvement of operating performance throughout the business. Shell has disclosed that production is down in the second quarter, though it also said that three large scale projects are beginning, increasing European imports and hopefully creating jobs. Chief Executive Peter Voser says that the “new projects should drive [Shell’s] financial performance in the coming quarters.”

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