India to Buy Russian Crude Oil
Russian oil and gas giant Rosneft has signed a contract with India’s largest fuel retailer Indian Oil Corporation (IOC) for supply of 2 million tonne (MT) crude oil to India by end 2020.The Moscow-headquartered integrated energy company said in a press release that the oil will be shipped to the refiner via the…
Aramco Rapidly Restores Production Capacity
Saudi Arabia's oil and gas giant Saudi Aramco announced that it will fully restore its production capacity by the end of September, in light of the Saturday's drone attacks that caused disruptions on around half of the country's oil capacity.Prince Abdulaziz Bin Salman, Minister of Energy, and HE Yasir Rumayyan, Chairman of Saudi Aramco, Mr.
KNOT Signs Charter Contract with Total
Knutsen NYK Offshore Tankers AS (KNOT), a NYK Group company, has concluded a time-charter contract for a maximum 15-year period starting from 2021 for a shuttle tanker with French oil and gas giant Total for its Brazilian activities.The contract aims to use a 152,000 DWT Suezmax tanker equipped with a dynamic-positioning system built in China by COSCO (Zhoushan) Shipyard Co., Ltd.
Shell Joins W2C Rotterdam
The British-Dutch oil and gas giant Royal Dutch Shell plc, commonly known as Shell, joins as equity partner with Air Liquide, Enerkem, Nouryon and the Port of Rotterdam, the largest port in Europe.The proposed project in Rotterdam will be the first of its kind in Europe to make valuable chemicals and bio-fuels out of non-recyclable waste materials…
Dutch Prosecutors Target Shell Over Nigeria Oil Deal
Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over the $1.3 billion acquisition of an Nigerian offshore oilfield, ramping up pressure on the energy firm that already faces bribery charges in Italy over the case.Within hours of Friday's announcement on the Nigerian case, the Dutch prosecution…
Anadarko, Bharat Petroleum Sign LNG Deal
American petroleum and natural gas exploration and production company Anadarko, on behalf of the Mozambique Area 1 partners, signed a deal with Bharat Gas Resources (BGR) for the supply of liquefied natural gas (LNG) volumes from the Mozambique LNG development.The sale and purchase agreement (SPA) is for 1 million tonnes per annum (MTPA) for a term of 15 years.
As Renewables Soar, BP sees China Hitting Brakes
Global demand for renewable power will soar at an unprecedented pace over the coming decades, BP said in a benchmark report on Thursday, while China's energy growth is seen sharply decelerating as its economic expansion slows.Still, China is set to remain the largest energy consumer by a long stretch into 2040 although…
BP Partners with Eni For Exploring Oman Block
British multinational oil and gas company BP and Italian oil and gas giant ENI have signed a heads of agreement with the Ministry of Oil & Gas of Oman to explore Block 77 in central Oman.In addition, Eni has signed with the Ministry of Oil & Gas and with BP a Head of Agreement (HoA) that sets up the principles for…
Shell Sets Carbon Cutting Targets
Royal Dutch Shell caved in to growing investor pressure over climate change on Monday with plans to set short-term targets for reducing its carbon footprint.BP and Total have already set short-term targets, but Shell Chief Executive Officer Ben van Beurden had previously resisted setting hard goals, saying it would…
Gazprom 95% Completes TurkStream Gas Pipeline's Offshore Section
Russian oil and gas giant Gazprom is progressing a number of gas pipeline stretching across the Black Sea projects with three major projects already 95.5 percent complete, the company claimed.The TurkStream will soon see the completion of its offshore section, bringing closer a consistent the supply of Russian…
Total, Aramco Sign Deal to Start Jubail Petrochem Engineering Works
French energy group Total and Saudi Aramco signed an agreement on Monday to start engineering studies for the $5 billion construction of a petrochemical complex at the Jubail Satorp refinery on the eastern coast of Saudi Arabia.Start-up of the complex, which will include a mixed-feed cracker with capacity of 1.5 million tons per year of ethylene and related high-added-value petrochemical
BP Shareholders Approve CEO's Pay
BP shareholders on Monday approved Chief Executive Bob Dudley's 2017 remuneration package by a more than 96 percent majority.Dudley's remuneration rose by 13 percent to $13.4 million last year as the oil and gas giant's profit more than doubled and production soared.In 2016 Dudley's pay package was cut by 40 percent after a majority of shareholders opposed the company's pay policy.Report
Total Says Libya's NOC Knew of Plans to Buy Marathon's Business
France's Total said on Wednesday it had informed Libya's authorities of plans to acquire Marathon Oil's stake in the Waha field for $4.5 billion even though it believed it did not require their consent."The deal with Marathon has closed and Total owns Marathon's stakes in Libya.
BP's Dudley Sees Pay Rebound
BP Chief Executive Bob Dudley's remuneration rose to $13.4 million in 2017, when the oil and gas giant's profits more than doubled and production soared. Dudley's salary was up 13 percent from 2016, when his pay package was cut by 40 percent after a majority of shareholders opposed the company's pay policy. Royal…
Shell Bets on Petrol Stations as Electric Revolution Looms
Shell to build 10,000 new petrol stations by 2025 with China, India and Mexico as primary growth targets. Royal Dutch Shell is placing a big bet on petrol stations and convenience stores in China, India and Mexico as it looks to shore up profits during the electric car revolution. By 2025, the oil and gas giant…
Petronas Says RAPID Project on Track for 2019 Start-Up
Malaysia's state oil firm Petroliam Nasional Berhad said on Thursday its new $27 billion refining and petrochemical complex project in the southeast Asian country is on track for start-up in 2019. Sources familiar with the matter told Reuters on Wednesday that Saudi Aramco had shelved its plans for a partnership with the company…
Total Looks Beyond Bolivia's Incahuasi to Regional Gas Market
Oil and gas giant Total could start the second phase of its Incahuasi gas project in Bolivia as early as 2017 if the right market conditions and incentives for investments are in place, the company's director for the Americas said on Friday. The $1.2 billion Incahuasi gas and condensate project which will officially be inaugurated on Friday, began production at three wells in August.
Shell's U.S Deal to Unlock Global Asset Sales
Shell lines up large North Sea asset sale; Gulf of Mexico deal sets deal value at $60/bbl. Royal Dutch Shell's first oil field sale after its $54 billion BG Group acquisition bodes well for its disposal talks in the North Sea, Gabon and New Zealand, according to sources, signalling buyers will meet its expectations on value.
Shell's US Deal to Unlock Global Oil Asset Disposals
The $425 million deal in the Gulf of Mexico is welcome news for the Anglo-Dutch oil and gas giant which has struggled to kick off its plan to dispose of $30 billion of assets by 2018 or so in order to pay for the February deal and maintain a generous dividend policy amid soaring debt. The sale of the Brutus/Glider fields to U.S.
Straightpoint Load Cells Weigh Hulking Flare Stack
Speedy Services used load monitoring and suspended weighing load cell equipment from Straightpoint to weigh and calculate the centre of gravity of a 298t flare stack bound for a BP oil rig in the North Sea. Speedy utilised four 150t wireless compression load cells and wireless centre of gravity software with supplementary SW-HHP handheld displays.
