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Hanwha and Total to Invest $300 Million to Expand Daesan Petrochemicals Platform, South Korea
December 18, 2017
Hanwha Total Petrochemical will invest over $300m to expand polymer production at its South Korean integrated refining and petrochemicals platform located in Daesan. Established in 2003, Hanwha Total Petrochemical is 50/50 joint venture owned by South Korean business conglomerate Hanwha
Centrica and Bayerngas Norge Launch European E&P Joint Venture Spirit Energy
December 18, 2017
Centrica has completed merger of its exploration and production businesses with Bayerngas Norge to form a joint venture named as Spirit Energy which has commenced trading as an independent oil and gas operator. The British utility Centrica will own a
Chevron Releases $18.3 Billion Capital and Exploratory Spending Program for 2018
December 18, 2017
Chevron has announced a 2018 capital and exploratory spending program of $18.3bn. This figure includes $5.5 billion for the company’s share of expenditures by affiliated companies. “Our 2018 budget is down for the fourth consecutive year, reflecting project completions, improved
Saudi Aramco and SABIC to Develop $20 Billion Crude Oil to Chemicals Complex, Saudi Arabia
December 14, 2017
State-owned firm Saudi Aramco has signed a memorandum of understanding (MoU) with petrochemical producer Saudi Basic Industries (SABIC) to build a $20bn fully integrated crude oil to chemicals (COTC) complex in the country. Expected to process 400,000 barrels per day
Statoil Submits Development and Operation Plan for Johan Castberg Project, Norwegian Barents Sea
December 14, 2017
Statoil has submitted plan for development and operation (PDO) for the NOK49bn ($5.91bn) Johan Castberg project in the Norwegian Barents Sea and has also awarded a $480m contract to Aker Solutions. Located in PL 532, around 100km north of the
World Bank Group to End Financing for Upstream Oil and Gas Projects by 2019
December 14, 2017
The World Bank Group (WBG) has announced plans to stop financing upstream oil and gas projects after 2019, to help combat climate change. The announcement was made by the WBG, which includes the World Bank and three other institutions, at
Canada to Create Office to Oversee Canadian Mining, Oil and Gas Companies’ Activities Abroad
December 14, 2017
Ottawa plans early next year to create an independent office to oversee Canadian mining, oil and gas companies’ activities abroad, a government spokesman said on Tuesday, a move that environmental and human rights groups have long demanded. The office would
Rio Tinto Starts Recruitment Drive for New Roles at Its Bauxite Mines in Far North Queensland
December 13, 2017
Rio Tinto has launched a recruitment drive for more than 100 new roles at its pioneering bauxite mines on western Cape York Peninsula in Far North Queensland. The opportunities are available across Rio Tinto’s operations at Weipa including existing mines
BASF and LetterOne Sign LOI to Merge Oil and Gas Business Units
December 12, 2017
Germany-based chemical giant BASF has signed a letter of intent with LetterOne to merge their oil and gas subsidiaries Wintershall and DEA, respectively, to create one of the largest independent exploration and production firms in Europe. Under the terms of
Mineral Resources Launches Bid to Acquire Australian Oil and Gas Firm AWE
December 12, 2017
Mining infrastructure provider Mineral Resources (MRL) has proposed to acquire AWE, an Australian oil and gas exploration and production company for A$484m ($364m) in a share-exchange deal. The offer from the Australia-based MRL is higher than last week’s revised takeover
