NEWS — Click on text to read news by category: General | Product | People | Worldwide
Saffron Energy Extends Offtake Agreement with Shell Energy Italia
April 7, 2017
Natural gas developer and producer Saffron Energy announces the extension of the natural gas offtake contract between its Italian subsidiary Northsun and Shell Energy Italia (Shell Energy Italia), a subsidiary of Shell- for energy commodity trading and marketing. The contract
Ineos to Acquire BP’s Forties Pipeline System for $250 Million, North Sea
April 5, 2017
BP has signed an agreement to sell its Forties Pipeline System (FPS) business to energy giant Ineos for $250m. The FPS business compromises assets including the main Forties offshore and onshore pipelines and other associated pipeline interests and facilities. The
Glencore to Divest Stake in Oil Storage Assets and Logistics Business to HNA for $775 Million
April 5, 2017
Swiss-based commodity trading and mining company Glencore has agreed to divest 51 percent stake in its petroleum products storage and logistics business to HNA Innovation Finance Group for $775m in an all cash deal. HNA Innovation Finance Group is a
Buru Energy Restarts Production at Ungani Oilfield, Australia
March 31, 2017
Buru Energy (Buru) is pleased to advise that it has completed a restart plan for the Ungani Oilfield. Production from the field will be trucked to Wyndham, stored in CGL’s 80,000 barrel tank and exported via ship to SE Asian
Chevron Starts Production from Third Train at $54 Billion Gorgon LNG Project, Australia
March 31, 2017
Chevron has started production from the third of the three liquefied natural gas (LNG) production units at the $54bn Gorgon LNG project located off Western Australia. The Gorgon LNG project, which is operated by Chevron, is located on Barrow Island
Asian Infrastructure Investment Bank Approves $60 Million Loan for Bangladesh Gas Project
March 31, 2017
The Asian Infrastructure Investment Bank (AIIB) has approved $60m loan for Bangladesh Natural Gas Infrastructure and Efficiency Improvement Project, co-financed with the Asian Development Bank. To address the gas supply deficit that will eventually impact Bangladesh’s energy security and constrain
Erin Energy Enters Farm-out Deal with FAR for Gambia Oil Blocks, Offshore Senegal
March 30, 2017
Erin Energy Corporation has entered into a definitive farm-out agreement with FAR Ltd., an Australian Securities Exchange listed oil and gas company, whereby FAR will acquire an 80 percent interest and operatorship of Erin Energy’s offshore A2 and A5 blocks
Saudi Aramco to Acquire Stake in Petronas’ RAPID Refinery Project for $7 Billion, Malaysia
March 29, 2017
Saudi Arabian Oil Company (Saudi Aramco) has signed an agreement with Malaysian firm Petroliam Nasional Berhad (Petronas) to acquire stake in the latter’s refining and petrochemicals project in the Asian country for $7bn. Located in the southern Malaysian state of
Assala to Acquire Shell’s Onshore Assets in Gabon for $587 Million
March 29, 2017
The Carlyle Group’s portfolio firm Assala Energy has agreed to acquire Royal Dutch Shell onshore assets in Gabon for around $587m. The deal will also include the assumption of $285m debt. The purchaser will make additional payments of about $150m
China’s Sinopec to Acquire Chevron’s South African Assets for $900 Million
March 24, 2017
China’s China Petroleum & Chemical (Sinopec) has agreed to acquire Chevron’s assets in South Africa for about $900m in a bid to expand its operations. The assets considered for acquisition include 75 percent stake in the 100,000 barrel-per-day oil refinery
