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NNPC Signs Financing Deals with Chevron, Shell to Advance Nigerian Oil Projects
August 8, 2017
The Nigerian National Petroleum Corporation (NNPC) has inked oil financing deals with two of its joint ventures (JV), one with Shell and the other with Chevron to advance two JV projects, estimated to bring in $16bn revenue. The two sets
IndianOil to Invest $2.4 Billion to Expand Gujarat Refinery
August 8, 2017
IndianOil has got the approval from its board to expand the crude oil processing capacity of its refinery in Gujarat state from 13.7 to 18 million metric tonnes per annum (MMTPA) with an investment of about INR15,034cr ($2.4bn). The Indian
ONGC Acquires Stake in GSPC Block in Krishna Godavari Basin for $995.3 Million
August 8, 2017
India’s Oil and Natural Gas Corp (ONGC) has completed the acquisition of an 80 percent stake in an offshore block owned by the Gujarat State Petroleum Corporation (GSPC) in the Krishna Godavari Basin for $995.3m. ONGC will now assume operatorship
UK Competition Watchdog Raises Concerns Over $2.7 Billion Wood Group-Amec Merger
August 8, 2017
The UK’s Competition and Markets Authority (CMA) has raised concerns over Wood Group’s proposed £2.2bn ($2.7bn) takeover of energy services company Amec Foster Wheeler. Following an initial investigation into the merger, the competition watchdog said that the take over could
Reliance Industries Commissions $1.5 Billion Dahej Ethane Plant in India
August 7, 2017
Reliance Industries has commissioned its ethane unit at its Dahej manufacturing facility in the Indian state of Gujarat. Considered to be the largest and most complex ethane project in the world, the Reliance plant was built at an investment of
Buru Energy Restarts Production at Ungani Oilfield
August 7, 2017
Buru Energy announced that it has re-commenced oil production from the Ungani Oilfield located in the Canning Basin in northwest Western Australia. The field restart program was completed on time and under budget with no incidents. During the next week,
NuEnergy Gets Nod for Coal Bed Methane Plan in Indonesia
August 7, 2017
Globaltec Formation Bhd said its Australia-listed 44 percent-owned subsidiary NuEnergy Gas Ltd has received approval to prepare a plan of development for its Tanjung Enim production sharing contract (PSC) in South Sumatra, Indonesia. The approval marks a significant milestone for
Ineos Secures Court Injunction in UK Against Shale Protesters
August 3, 2017
Petrochemical giant Ineos has got an injunction in the UK High Court against unlawful protests at its shale gas locations in the country. The injunction means that the protesters will face a risk of contempt of court if they attempt
ExxonMobil Acquires Stake in Offshore Deepwater Suriname Block
August 1, 2017
ExxonMobil has acquired 2.8 million acres in offshore Suriname to expand its operated acreage in the Guyana-Suriname basin. The petrochemical major stated that its subsidiary ExxonMobil Exploration and Production Suriname had inked a production sharing contract alongside co-venturers Hess and
Rosneft Discovers First Oil in Laptev Sea on Eastern Arctic Shelf, Russia
August 1, 2017
Rosneft has discovered hydrocarbon deposits on the Eastern Arctic shelf in the Laptev Sea, Russia. The exploratory well named Tsentralno-Olginskaya-1 was drilled by the Russian oil giant from the Khara-Tumus Peninsula shore on the Khatanga Bay shelf. Rosneft stated that
