Trafigura-Entara Consortium to Buy French Refinery
Rhone Energies, a consortium of commodity trader Trafigura and Entara LLC, has agreed with ExxonMobil's ESSO SAF to buy the Fos-sur-Mer refinery and Toulouse and Villette-de-Vienne terminals in France."Discussions with the relevant authorities are ongoing and the necessary authorizations are expected by the end of October," Trafigura said in a press release on Thursday.The parties signed the sale agreement having completed an information and consultation procedure with employee representatives, Trafigura said.Trafigura said it would have a minimum 10-year exclusive crude oil supply and product offtake agreement for the 140…
Aker BP Fires up Ivar Aasen
The first oil is produced by Ivar Aasen field in the North Sea. The start is in line with the plan, and the development is completed within budget. Aker BP is operator of the field, which started production on 24 December 2016. First oil from Ivar Aasen field comes four years after the plan for development and operation ( PDO ) was submitted. The plan sets a target for production start in fourth quarter 2016. CEO Karl Johnny Hersvik Aker BP is very pleased that the development is carried out accordingly. "The start-up is a major milestone for Aker BP as a company.
Ivar Aasen Ready for Departure
(Singapore, 22 May 2016) The topside of Ivar Aasen field was completed on Sunday at the shipyard in Singapore and sailed to Norway shortly. The tire was delivered on budget and on time, which enables field development is on track to start production on December 1. "Ivar Aasen field is an important development on the Norwegian Continental Shelf and the Norwegian as operator . We are therefore very pleased to finalize the platform deck according to budget and on time. Work performed in Singapore are of high quality…
Eni Embarks on Green Energy Quest
Italian oil major Eni, which has historically invested little in renewable energy given its strong track record in discovering oil and gas, plans renewable energy projects in Italy, Pakistan and Egypt. As part of a push into green energy, Eni aims to bring 420 megawatts of mostly solar power generation online by 2022 by reusing derelict land linked to existing fossil fuel operations. The world is currently adding more clean energy capacity than coal, oil and gas combined and Eni joins other oil majors in turning to green energy investments to curb carbon emissions and get a foothold in the fast growing sector.
Saras Tenders to Sell up to 270,000 Tonnes of Gasoil
Independent Italian refiner Saras has issued a tender to sell 210,000-270,000 tonnes of 0.1 percent sulphur gasoil between April and December, according to a document seen by Reuters. The tender calls for bids for seven to nine 30,000 tonne cargoes of Egyptian-grade or "Libyan modified"-grade gasoil from the Sarroch, Sardinia refinery. Offers are to be submitted by close of business on Monday and valid until March 23. (Reporting by Ron Bousso, editing by David Evans)
Sechin Visits Sarroch Refinery
Rosneft Chairman of the Management board Igor Sechin made a working visit to the Sarroch refinery of Saras S.p.A., situated in Sardinia, Italy. The Rosneft Head (Saras S.p.A BoD member) along with the management of the company, visited key production facilities of the refinery as well as the new site and facilities that were acquired from the Versalis company in the beginning of the year. Afterwards the parties held a meeting with Saras S.p.A. CEO Massimo Moratti among the participants. The parties discussed Saras S.p.A operatiоns and development plans.
Stolt-Nielsen Buys Stake in Sardinian LNG Project
Stolt-Nielsen Limited announced today that its subsidiary, Stolt-Nielsen Gas B.V., has purchased 10 percent of the shares in HIGAS S.r.L., with an option to acquire up to 80 percent of the company. HIGAS is a joint venture between Gas and Heat S.p.A. and CPL Concordia Soc. Coop, with plans to build and operate an LNG terminal and distribution facility in the port of Oristano, Sardinia. The LNG is to be shipped to the terminal by LNG tankers and distributed to customers via pipeline and trucks. The terminal is expected to be completed in 2017.
E.ON's Italy sale draws bidders as deadline falls
The sale of E.ON's Italian assets has drawn interest from a handful of energy companies and investment funds on the final day for binding bids, sources familiar with the matter said on Monday. Two sources said French energy giant EDF was also looking to make a non-binding bid, outside the official process, for all the assets through its Italian utility unit Edison. E.ON has not yet decided if it will sell its Italy business, which could be worth more than 2 billion euros ($2.5 billion), in a single block or in parts, sources have said.
Saras Urges European Steps on Refining as Profit Slumps
Italy's Saras urged Europe to take steps to restore the competitiveness of the region's refining sector after it posted an 85 percent slump in its core earnings in the first three months due to weak refining margins. Europe's refining sector is facing growing pressure from increasing international competition, excess production capacity and weak domestic consumption. "We hope that the European Authorities will finally become fully aware that the competitiveness of this absolutely strategic sector is progressively being eroded…
