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Abu Dhabi’s Top Petrochemicals Executive Al-Kaabi Has His Eye on North American Shale
January 17, 2019
While North American shale may be competition for OPEC members, some crude-exporting countries in the Arabian Gulf are simultaneously taking advantage of the commodity’s ability to fuel lucrative investments beyond oil. For the United Arab Emirates’ Musabbeh al-Kaabi, chief executive
Hess Releases Updates on Drilling and Development Activities, Offshore Guyana
January 16, 2019
Hess Corporation said that drilling has begun on the Haimara-1 exploration well offshore Guyana, the first of two planned exploration wells in January. The Stena Carron drillship is drilling the Haimara-1 well, located 19 miles (31 kilometers) east of the
BP and Lotte to Invest $175 Million to Expand Petrochemicals Facility, South Korea
January 15, 2019
BP and Lotte have agreed to undertake a major expansion at their jointly owned petrochemicals facility in South Korea with an expected investment of $175m. The expansion project will increase their joint venture Lotte BP Chemical’s petrochemicals facility located in
Valor Resources Signs Deal with Rio Tinto to Advance Polymetallic Project, Peru
January 15, 2019
Valor Resources Ltd has signed a joint venture option agreement with Kennecott Exploration Company, part of the Rio Tinto group, in respect of the Berenguela copper-silver-manganese project in Peru. Kennecott will spend US$2 million on exploration expenditure on the project
2019 Could Make or Break OPEC
January 7, 2019
When OPEC+ agreed to begin cutting crude oil production again in December, hardly anyone in the cartel thought the effect of the news on prices would be as lackluster as it turned out to be. It took some time for
China’s CNOOC Signs Strategic Cooperation Agreements with Nine International Oil Companies
January 4, 2019
China’s National Offshore Oil Corporation (CNOOC) has signed Strategic Cooperation Agreements with nine international oil companies including Chevron, ConocoPhillips, Equinor, Husky, KUFPEC, Roc Oil, Shell, SK Innovation and TOTAL. The move comes as the nation celebrates 40 years since its
China Cracks Open Door for U.S. Natural Gas Imports as Wintry Cold Hits
January 4, 2019
China last month imported two tankers of U.S. liquefied natural gas, nudging open a doorway that had been closed shut for a month at a time when America is rapidly expanding its ability to export the heating fuel. The three
Cheniere Energy Signs 20-year LNG Supply Deal with Malaysia
January 3, 2019
Cheniere Energy, the nation’s largest natural gas exporting company, announced a 20-year deal with Malaysia’s government-owned oil company on Tuesday to provide the Asian country with a steady supply of U.S. liquefied natural gas. Malaysia’s PETRONAS has agreed to purchase
Israel, Greece, and Cyprus to Sign Natural Gas Pipeline Deal
December 28, 2018
Prime Minister Benjamin Netanyahu on Thursday said that Israel, Greece and Cyprus will sign an agreement early next year to build a pipeline to carry natural gas from the eastern Mediterranean to Europe, while the United States pledged its support
Sempra Energy Taking Two-coast Approach to LNG Export Business
December 28, 2018
Sempra Energy, which is investing billions of dollars in a liquefied natural gas export terminal in Port Arthur, is pursuing a two-coast strategy that would mostly target Europe from two LNG plants along the Gulf Coast while a facility planned
