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Brazil’s Petrobras to Pay $2.95 Billion to Settle U.S. Class Action Lawsuit
January 16, 2018
Petroleo Brasileiro (Petrobras) has agreed to pay $2.95bn to settle a class action lawsuit filed by its investors in the US. The lawsuit was filed against the Brazilian state-controlled oil company in the United States District Court for the Southern
Oslo Court Approves Norway’s Plan for More Oil Exploration in Arctic
January 15, 2018
An Oslo court has approved Norwegian government’s plans to expand oil exploration activities in the Arctic. The court acquitted the government while dismissing a lawsuit filed against it by Greenpeace Norway, Nature and Youth and the Grandparents Climate Campaign. The
Assala Energy Completes Acquisition of Shell’s Gabon Onshore Assets for $628 Million, Africa
January 10, 2018
Carlyle-backed Assala Energy has completed the acquisition of Shell’s onshore assets in Gabon, Africa, for a total of USD $628 million including an amount equivalent to interest. With this transaction, Assala Energy will assume debt of USD $285 million. With
BP Awards Jacobs EPCM for Phase 2 of Khazzan Tight Gas Project, Sultanate of Oman
January 10, 2018
Jacobs Engineering Group Inc. has been selected by BP to provide engineering, procurement and construction management (EPCM) services for the Phase 2 of the Khazzan Project in the Sultanate of Oman. Under the terms of the three-year contract, Jacobs will
Sino Gas & Energy Submits Development Plan of Sanjiaobei Gas Field, China
January 9, 2018
Australian energy company Sino Gas & Energy has submitted the development plan of the Sanjiaobei gas field in China to PetroChina CBM (PCCBM), its production sharing contract (PSC) partner for approval. Compiled in collaboration with the state-owned PCCBM, the Overall
India to Start Construction of Mongolia’s First Oil Refinery
January 5, 2018
Sputnik reported that Mongolia and India are expected to soon start the construction work at Mongolia’s first oil refinery as the landlocked country hopes to eliminate its dependency on its neighbors for energy needs. The Engineers India Limited (EIL) has
Repsol Submits Revised Development Plan for Yme Field, North Sea
January 4, 2018
Spanish oil firm Repsol has submitted a new development plan for the Yme field in the North Sea to the Norwegian Ministry of Petroleum and Energy. Under the new development plan, the Yme field is expected to see an investment
Statoil Submits Development Plan for Snorre Expansion Project, Norway
January 4, 2018
Statoil has submitted a development plan for the Snorre Expansion Project to the Norwegian authorities. Contracts worth up to NOK9bn ($1.07bn) will be awarded for the expansion of the Snorre field, located in the Tampen area, 150 km west of
Inter Pipeline Releases $900 Million Capital Expenditure Program for 2018
January 4, 2018
Inter Pipeline has announced a $900 million capital expenditure program for 2018, with 91 percent of it will be for organic growth initiatives. The remaining $80 million invested for sustaining capital projects. In 2018, the majority of Inter Pipeline’s growth
VNG Norge Submits $1.2 Billion Development Plan for Fenja Field, Norwegian Sea
December 28, 2017
VNG Norge, on behalf of the licensees in PL586, has submitted a development plan for the Fenja field in the Norwegian Sea to the Norwegian Ministry of Petroleum and Energy. The license partners are planning to invest NOK10.2bn ($1.2bn) in
