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Saipem Secures EPCI Contract for Trans Adriatic Pipeline Project to Run from Greece to Italy
April 20, 2016
Italy-based firm Saipem has received an engineering, procurement, construction and installation (EPCI) contract for the offshore section of the Trans Adriatic Pipeline (TAP) project that will run from Greece to Italy. Under the contract, which has been awarded by Trans
British-based Centrica to Cut 3,000 Jobs as Its UK Arm Returns to Profit
April 20, 2016
British Gas owner Centrica PLC is cutting 3,000 jobs this year despite returning to profit in the UK in the first quarter. Centrica said the cuts, including about 800 in the first three months of the year, would contribute to
Egypt’s State-owned EEHC Secures $4 Billion to Develop Three Gas Power Plants
April 20, 2016
Egypt’s state-owned Egyptian Electricity Holding Company (EEHC) has secured €3.5bn ($4bn) in financing from Deutsche Bank, HSBC and KfW’s Ipex Bank to fund the development of three gas power plants, which have a combined capacity of 14.4GW in Egypt. Deutsche
Genoil Receives $5 Billion LOI from China Bank for Oil Project Upgrades in Middle East
April 20, 2016
Genoil, along with consortium partner Shaanxi Yanchang Petroleum Group subsidiary Beijing Petrochemical Engineering (BPEC) have received $5bn letter of intent to cover the initial cost of an upgrade project in Middle East. The $5bn letter of intent, which has been
Rockhopper Exploration Strikes New Deal to Acquire Egypt Oil Assets
April 20, 2016
Rockhopper Exploration Plc has struck new terms for a proposed acquisition of production and exploration assets in Egypt. Last summer the AIM listed oil company attempted to acquire the assets from Beach Energy but the deal didn’t proceed due to
Oil Prices Tank After Doha Output Talks Fail
April 19, 2016
Crude prices have tumbled after the world’s top producers failed to reach an agreement on capping output aimed at easing a global supply glut, sparking fears it could set off another round of price falls. In Asia trading Monday morning,
WEX Expands Geographic Coverage for Oil Customers in Asia
April 18, 2016
WEX Inc. has reached several key milestones as part of its expanding fleet services in Asia, where it has been serving oil companies for nearly a decade. WEX’s white label solution has expanded from providing hosting and transaction management services
Trelleborg’s Offshore Operation in Norway Signs Framework Agreement with Statoil
April 18, 2016
Trelleborg’s offshore operation in Norway has signed a framework agreement with Statoil for the supply of Elastopipe™ corrosion protection, Passive Fire Protection (PFP), as well as Thermal Insulation (Vikotherm R2, S1 and P7). The framework agreement is signed for six
Premier Oil Begins Production at Its Solan Oil Field in the North Sea
April 15, 2016
Premier Oil Plc confirmed that the Solan field, in the North Sea, safely achieved ‘first oil’ production. Production commenced on April 12, it told investors, and the first well P1 flowed naturally at a deliberately restricted initial rate. During this
Eland Oil & Gas Ready to Boost Production at Opuama Oil Field, Nigeria
April 15, 2016
Eland Oil & Gas Plc told investors it expects to complete flow testing of the Opuama-3 well in Nigeria over the coming weeks, following a work-over. It was envisaged that the well’s output would rise by 50-100 percent as a
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