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SNC-Lavalin Secures $800 Million Oil and Gas Contract in Middle East
March 4, 2016
SNC-Lavalin is pleased to announce that it has been awarded a significant oil and gas contract in the Middle East with an approximate value of $800m. The contract further cements SNC-Lavalin’s position in the Middle East. The project will involve
Nigerian Firms Dominate Bid List for Uganda’s Oil
March 4, 2016
Uganda has announced that seven companies have submitted bids for exploration of oil in the next round of licensing. In October 2015, government announced that at least 16 firms had expressed interest in acquiring oil exploration blocks in the Albertine
Statoil Begins Production Well Drilling at Johan Sverdrup Oil Field, Offshore Norway
March 4, 2016
Norwegian firm Statoil and its partners have commenced drilling of the first production well as part of the first phase of the Johan Sverdrup field development in the North Sea. The drilling of the first of 35 production wells is
APR Energy Commissions Gas Turbine Plant for Industrial Customer ETHYDCO, Egypt
March 3, 2016
APR Energy has commissioned its new power plant in Egypt. The plant will support development of a large-scale industrial complex being built for the Egyptian Ethylene and Derivatives Company (ETHYDCO), a manufacturer and leading provider of value-creating plastics and rubber
Delek and Partners Submit Revised Plan for Leviathan Gas Field, Offshore Israel
March 2, 2016
Delek and partners are seeking approval for the revised development plan from the Israel’s Ministry of National Infrastructures, Energy and Water Resources’ Petroleum Commissioner for the Leviathan gas field in the eastern Mediterranean Sea. The revised plan looks to cut
Brazil State-controlled Oil Producer Petrobras Secures $10 Billion Loan with China Development Bank
March 2, 2016
Brazil’s state-controlled oil producer Petroleo Brasileiro (Petrobras) has signed a term sheet with the China Development Bank for $10bn financing to help pay most of its 2016 debt. As per the term sheet, Petrobras will receive $10bn loans in exchange
Oil Prices Rally Amid Latest Saudi Pledge
March 2, 2016
Crude prices kept higher on Monday amid reports of a new supportive pledge out of the Middle East. Saudi Arabia, the world’s largest producer and the driving force behind OPEC, has said it may work with other producers to limit
UK-based Centrica Plans to Further Reduce Workforce by 3,000
March 1, 2016
UK-based Centrica is planning to axe 3000 jobs by year-end in a bid to cost cuts amidst plunging oil price. The decision, which is in addition to the earlier announced plan to axe 2,000 jobs, comes as a result of
Largest LNG Buyers Seek Alliance to Boost Bargaining Power
March 1, 2016
Japan’s Jera Co. said it’s in talks with other LNG companies to create an alliance of buyers that account for more than one-third of global trade. Jera, a joint venture between Tokyo Electric Power Co. and Chubu Electric Power Co.,
Repsol Discovers Natural Gas in Caipipendi Block, Southern Bolivia
March 1, 2016
Spanish oil and gas group Repsol has reportedly made major natural gas discovery in the Caipipendi block in southern Bolivia. The firm discovered 4 trillion cubic feet (tcf) of potential natural gas reserves in Bolivia and expects to start production
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