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Russia’s Rosneft to Acquire Controlling Stake in India’s Essar Oil for $12.9 Billion
October 24, 2016
Russian oil major Rosneft and a consortium of commodities trader Trafigura and private investment group United Capital Partners have agreed to acquire 98 percent stake in India’s Essar Oil (EOL) for around $12.9bn. As per the terms of the deals,
UK’s OGA: More Than Three Billion Barrels of Oil Remain in Unsanctioned Discoveries
October 24, 2016
UK’s Oil and Gas Authority (OGA) has estimated that the more than 3 billion barrels of oil equivalent (boe) remains in approximately 350 unsanctioned discoveries across the UK Continental Shelf (UKCS). According to the study, a majority of the potential
BP Scraps Oil Exploration Drilling Plans, Offshore South Australia
October 24, 2016
UK energy firm BP is scrapping plans to undertake deep-water exploration drilling program in the Great Australian Bight (GAB), offshore South Australia. The decision to abandon the oil-exploration wells drilling follows completion of BP’s upstream strategy, which determined that the
Aker to Build Johan Sverdrup Pipeline Receiving Facility at Mongstad, Norway
October 21, 2016
Aker Solutions has received a contract from Statoil to build the pipeline facilities, modifications and tie-ins needed at the Mongstad terminal to receive oil from the North Sea Johan Sverdrup field. The contract, valued at about NOK 350 million, is
Condor Begins Production at Taskuduk Oilfield, Kazakhstan
October 21, 2016
Condor Petroleum (Condor) announced that commercial oil production has commenced at the Taskuduk oilfield in Kazakhstan. The production from Taskuduk complements the Shoba commercial production which began in September. The combined flow rates from these 100 percent owned oilfields have
Prospex Secures Approval to Drill Boleslaw-1 Gas Well, Onshore Poland
October 21, 2016
Prospex Oil and Gas has secured approval from the Ministry of Environment to drill the Boleslaw-1 well in the 1,150km2 Kolo license, onshore Poland. Boleslaw-1 is targeting gas in an active petroleum system and remains on track to be drilled
Koch Supply & Trading Exploring Potential Strategic Sale of Rotterdam Refinery, Netherlands
October 20, 2016
Koch Supply & Trading is exploring a potential sale of its Rotterdam refinery. “Since acquiring the Rotterdam refinery in 1998, we have successfully grown the business into the largest producer of naphtha in Northwest Europe with a strategic location at
Hyundai Heavy Industries Delivers World’s Largest Semi-submersible Drilling Rig to Diamond Offshore
October 19, 2016
Hyundai Heavy Industries (HHI) has completed the delivery of Ocean Greatwhite semi-submersible drilling rig to US-based Diamond Offshore. The rig measures 123 m in length and 78m in width. It has the capacity to operate in waters up to 3
Mayan Energy Begins Gas Production at Shoats Creek Field in UK
October 19, 2016
Mayan Energy has announced the commencement of gas production from the Shoats Creek Field and the impact of cost cutting measures introduced by its new management team. COMPLETION OF SHOATS CREEK GAS PIPELINE AND INITIATION OF GAS SALES A 600
Eni’s FPSO Vessel Ready to Sail for Operations, Offshore Angola
October 19, 2016
Italian oil and gas company Eni has announced that its Armada Olombendo floating production, storage and offloading (FPSO) vessel is ready to sail for operations in offshore Angola. The FPSO will operate in Block 15/06, offshore Angola, for the East
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