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NEWS Click on text to read news by category: General | Product | People | Worldwide

Chinese Import Boom Set to Continue in 2018

January 18, 2018

Global Times reported that Chinese importers are optimistic about the prospects for 2018, following the strong growth seen in 2017. Mr. Shi Xinyu general manager of Yiwu Ziguang Trade Co in Yiwu, East China’s Zhejiang Province, told the Global Times

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Air Products to Acquire Shell’s Coal Gasification Technology Business and Patent Portfolio

January 17, 2018

Air Products has entered into an agreement to acquire Royal Dutch Shell’s Coal Gasification Technology business as well as Shell’s patent portfolio for Liquids (Residue) Gasification. Financial terms are not being disclosed, and the acquisition is expected to close in

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Sinopec Secures Conditional Approval to Acquire Chevron South Africa for $900 Million

January 16, 2018

The South African Competition Commission has conditionally approved China Petroleum & Chemical Corporation’s (Sinopec) proposed $900m deal to acquire stake in Chevron South Africa (CSA). In March 2017, SOIHL HK, which is owned by state-owned Chinese company Sinopec, had signed

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Swala to Acquire $130 Million Stake in Pae Panafrican Energy

January 16, 2018

Swala Oil & Gas has agreed to acquire up to 40 percent of stake in Orca Exploration Group’s wholly-owned Mauritius subsidiary, PAE PanAfrican Energy (PAEM) for a total consideration of up to $130m. Of this amount, US$16.3 million will be

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Brazil’s Petrobras to Pay $2.95 Billion to Settle U.S. Class Action Lawsuit

January 16, 2018

Petroleo Brasileiro (Petrobras) has agreed to pay $2.95bn to settle a class action lawsuit filed by its investors in the US. The lawsuit was filed against the Brazilian state-controlled oil company in the United States District Court for the Southern

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Oslo Court Approves Norway’s Plan for More Oil Exploration in Arctic

January 15, 2018

An Oslo court has approved Norwegian government’s plans to expand oil exploration activities in the Arctic. The court acquitted the government while dismissing a lawsuit filed against it by Greenpeace Norway, Nature and Youth and the Grandparents Climate Campaign. The

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Nexif Energy Signs EPC Contract for 110 MW Gas-Fired Cogen Project in Thailand

January 12, 2018

Nexif Energy, a leading independent power producer in Asia and Australia, has signed an engineering, procurement and construction (EPC) contract for its 110 megawatt (MW) cogeneration project in Thailand’s Rayong Province. Nexif acquired the project in June 2017 and is

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Assala Energy Completes Acquisition of Shell’s Gabon Onshore Assets for $628 Million, Africa

January 10, 2018

Carlyle-backed Assala Energy has completed the acquisition of Shell’s onshore assets in Gabon, Africa, for a total of USD $628 million including an amount equivalent to interest. With this transaction, Assala Energy will assume debt of USD $285 million. With

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BP Awards Jacobs EPCM for Phase 2 of Khazzan Tight Gas Project, Sultanate of Oman

January 10, 2018

Jacobs Engineering Group Inc. has been selected by BP to provide engineering, procurement and construction management (EPCM) services for the Phase 2 of the Khazzan Project in the Sultanate of Oman. Under the terms of the three-year contract, Jacobs will

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Sino Gas & Energy Submits Development Plan of Sanjiaobei Gas Field, China

January 9, 2018

Australian energy company Sino Gas & Energy has submitted the development plan of the Sanjiaobei gas field in China to PetroChina CBM (PCCBM), its production sharing contract (PSC) partner for approval. Compiled in collaboration with the state-owned PCCBM, the Overall

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