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India’s ONGC to Invest $5.7 Billion to Develop KG Oil Block in Bay of Bengal
April 6, 2016
As the biggest oil crash in a generation prompts producers from Royal Dutch Shell Plc to ConocoPhillips to cancel or delay almost $400 billion in projects, India’s state-run explorer is sticking with plans to keep drilling. Oil & Natural Gas
Nigeria-based Midwestern Oil & Gas Acquires Mart Resources for $89.2 Million
April 1, 2016
Mart Resources on Thursday was acquired by Nigeria-based Midwestern Oil & Gas Company. Acquireco, an indirect wholly owned subsidiary of Midwestern, acquired all of the issued and outstanding common shares of Mart and holders of Mart shares received 25 cents
Russia’s Gazprom and Belgium’s Fluxys to Invest in European LNG Facilities
April 1, 2016
Russia’s gas giant Gazprom and Belgium’s Fluxys have signed a deal to cooperate on developing the small-scale market of liquefied natural gas in Europe, to include construction and operation of LNG receiving terminals, LNG bunkering infrastructure and LNG filling stations,
PetroNeft Resources Secures Funding to Advance Licence 61 Oil Project, Siberia
April 1, 2016
PetroNeft Resources PLC has confirmed that legal documents for the first tranche of a US$35mln loan for the License 61 joint venture has now been executed. Oil India, PetroNeft’s partner in Licence 61, has released U$10mln to the joint venture
Cummins and Olayan Form Middle East Joint Venture
March 30, 2016
Cummins Inc. and The Olayan Group have joined to form Cummins Arabia, a 50:50, three-country distribution joint venture company in the Middle East. This joint venture consolidates the distribution of Cummins products in the United Arab Emirates (UAE), Saudi Arabia
Sakhalin Secures $450 Million Funding for Development of Sakhalin-I Odoptu OIl and Gas Project
March 30, 2016
Sakhalin Oil and Gas Development (SODECO) has secured $450m financing from Japan Bank for International (JBIC) to fund the second development stage of the Sakhalin-I Odoptu field project in Russia. The firm said it has also secured financing from Mizuho
ONGC Approves $5 Billion Investment Plan in Its Indian Oil and Gas Assets
March 30, 2016
India-based Oil and Natural Gas Corporation (ONGC) is planning to invest about $5bn in its east coast oil and gas asset over the next few years in order to boost production. The investment plan, which has been approved by the
Dodsal Group Discovers $8 Billion Worth of Natural Gas Reserves, Onshore Tanzania
March 30, 2016
UAE based energy firm Dodsal Group has reportedly discovered $8bn worth of natural gas reserves in Tanzania. The firm discovered 2.7 trillion cubic feet of natural gas deposits at a field in the Ruvu Basin located about 50km west of
Neste Jacobs to Undertake Energy Study for INA’s Oil Refinery in Croatia
March 30, 2016
Technology, engineering and project management company Neste Jacobs and Industrija nafte (INA) have signed an agreement for Neste Jacobs to perform a comprehensive energy efficiency study of INA’s Rijeka oil refinery in Croatia. The energy efficiency study will be done
Leni Gas Cuba’s Venture Strikes First Import Deal
March 29, 2016
Cuba-focused investor Leni Gas Cuba Ltd told investors it had received its first import contract under the joint venture, struck last November, worth around US$30,000. Leni said the deal was in the tourist sector and the joint venture is also
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