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Samsung Awards Clough $34 Billion Hook-up Services Contract for Ichthys LNG Project, Australia
February 2, 2016
Engineering group Clough has received a contract from Samsung Heavy Industries (SHI) to provide hook-up services for the $34bn Ichthys LNG project central processing facility (CPF) in Australia. The Ichthys CPF, which is expected to the world’s largest semi-submersible platform,
Indo Mines to Acquire Indonesian Mining and Oil Services Supplier
February 2, 2016
Indo Mines will add an interesting asset to its portfolio after signing an agreement to acquire control of an Indonesian mining and oil services supplier. Indo Mines will acquire a 51 percent stake in Sapex Oil Tools Limited which has
JGC Wins EPC Contract for Gas Processing Plant, Bahrain
February 2, 2016
JGC announced that it has received a contract to build the gas processing facilities in Bahrain. The Gas Processing Project, located in the Bahrain oil field area south of Awali, near Jebel Al-Dukhan, the Kingdom of Bahrain 20 kilometers south
UK to Invest $720 Million to Boost Oil and Gas Industry
February 2, 2016
UK Prime Minister David Cameron announced that the Scottish and UK governments will invest a total of £504m ($720m) in Aberdeen and Scotland which are vital to the country’s North Sea oil and gas industry. The two governments will equally
GE to Invest $600 Million in Oil and Gas Research and Development Projects in Italy
February 2, 2016
GE Oil & Gas has signed a memorandum of understanding (MoU) to invest $600m in research and development projects in the oil and gas sector in Italy over the next five years. The firm, in cooperation with universities, research labs,
BG Group Votes in Favor of Merger with Shell
February 1, 2016
Royal Dutch Shell plc has reported the positive result of the BG Group plc shareholder meetings, resulting in votes in favor of the recommended combination between Shell and BG. The transaction is expected to complete on February 15, 2016, subject
Schlumberger Plans to Cut 10,000 Jobs to Reduce Costs
January 29, 2016
Oilfield services company Schlumberger has announced its plan to axe 10,000 jobs in a bid to reduce cost amid fall in oil price. The firm plans to cut 10,000 jobs in the fourth quarter as a result of loss of
Shell Plans to Cut 10,000 Jobs to Reduce Costs
January 29, 2016
Royal Dutch Shell is planning to cut 10,000 jobs upon completion of acquisition of BG Group in order to further reduce costs amid plunging oil prices. The Anglo-Dutch energy company expects the $70bn deal to acquire BG Group to be
Iran Signs Oil Deal with Russia’s Lukoil
January 29, 2016
Iran has signed a deal with Russia’s Lukoil over two exploration projects in the country’s southwestern oil-rich Khouzestan province. Hormoz Qalavand, the director for exploration affairs of the National Iranian Oil Company (NIOC), has said that Lukoil is to look
Iran to Supply Crude Oil to Greece’s Hellenic Petroleum as Sanctions End
January 29, 2016
The National Iranian Oil Company of Iran has signed an agreement to supply oil to Greece’s main oil refiner, Hellenic Petroleum, after lifting sanctions. The deal is the first Iranian crude sale to a European country following lifting of the
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