Archive for Press Releases

Energy Transfer LP to acquire Tulsa, Okla.-based SemGroup Corp.

Energy Transfer LP to acquire Tulsa, Okla.-based SemGroup Corp.

September 17, 2019 No Comments

Energy Transfer LP (NYSE: ET) (“ET” or “Energy Transfer”) today announced that it has entered into a definitive merger agreement whereby Energy Transfer will acquire SemGroup Corporation (NYSE: SEMG) (“SemGroup”) in a unit and cash transaction valued at $17 per share, or a total consideration including the assumption of debt of approximately $5 billion, based […]

Qingdao McDermott Wuchuan Awarded Module Fabrication Contract

Qingdao McDermott Wuchuan Awarded Module Fabrication Contract

September 17, 2019 No Comments

McDermott International, Inc. (NYSE: MDR) today announced that its joint venture Qingdao McDermott Wuchuan Offshore Engineering Co. Ltd (QMW) in Qingdao, China, has been awarded a large* contract to provide three complex modules for the Arctic LNG 2 Project in the Yamal-Nenets Autonomous Region in Russia. “This award recognizes QMW’s experience and excellent performance in […]

Eni starts production of Baltim South West field offshore Egypt

Eni starts production of Baltim South West field offshore Egypt

September 17, 2019 No Comments

Eni announces the successful commissioning and start-up of production of the offshore Baltim South West gas field in Egypt. Discovered by Eni in June 2016, the field goes on-stream in a record time, just 19 months after the final investment decision (FID) was approved in January 2018. This result further confirms the success of the […]

Dow Jones Sustainability Indices

Dow Jones Sustainability Indices

September 17, 2019 No Comments

Neste has been selected for inclusion in the Dow Jones Sustainability Indices (DJSI) for the 13th consecutive year. The company was included in the DJSI World and DJSI Europe, once again, among the most sustainable companies in the world. Neste’s performance received the industry’s best scores in materiality, human capital development, and water-related risks, contributing […]

Vallourec has been awarded a USD 900 million contract with ADNOC

Vallourec has been awarded a USD 900 million contract with ADNOC

September 17, 2019 No Comments

Vallourec has been awarded a contract by Abu Dhabi National Oil Company for the supply of tubing and casing, over a five year period, with a possible 2-year extension, for an amount of USD 900 million. ​It covers a full range of products, from standard API to high end premium OCTG for both onshore and […]

Utgard field on stream

Utgard field on stream

September 17, 2019 No Comments

On 16 September, Equinor and its partners started production from the Utgard gas and condensate field, spanning the Norwegian-UK border in the North Sea. The project is delivered without any personal injuries, ahead of schedule and 25% below the cost estimate. Recoverable Utgard resources are estimated at around 40 million barrels of oil equivalent (boe) […]

Gas discovery in the Norwegian Sea

Gas discovery in the Norwegian Sea

September 17, 2019 No Comments

Equinor and its partners AkerBP and Wellesley Petroleum have found gas in the Ørn exploration well south-west of the Marulk field in the Norwegian Sea. Recoverable resources are estimated at 8–14 million standard cubic metres of oil equivalent, corresponding to 50–88 million barrels of oil equivalent (boe). “This is good news. The Ørn discovery proves […]

Hanwha Total Petrochemical Increases Ethylene Production Capacity by 30%

Hanwha Total Petrochemical Increases Ethylene Production Capacity by 30%

September 17, 2019 No Comments

The Daesan integrated refining and petrochemicals complex in South Korea, owned by Hanwha Total Petrochemical , has started its new ethylene production capacities. With a $450 million investment, the site can now produce 1.4 million tons per year of ethylene, an increase of 30%. This project was launched in April 2017 and is the first […]

OIL PRICE SPIKE AFTER SAUDI ATTACK LIKELY SHORT-LIVED

OIL PRICE SPIKE AFTER SAUDI ATTACK LIKELY SHORT-LIVED

September 16, 2019 No Comments

In an update to clients after the biggest attack on oil infrastructure since the Gulf War, Bjørnar Tonhaugen, head of oil market research at Rystad Energy, made the following remarks: “The bullish reaction in oil prices will likely be limited by Saudi Arabia’s vast quantities of crude in storage, estimated to equal roughly 26 days […]

Pemex to repay and refinance debt

Pemex to repay and refinance debt

September 16, 2019 No Comments

Pemex announced a series of measures intended to improve its financial condition. This operation considers a capital contribution from the Federal Government equivalent to 5 billion US dollars to be used for the prepayment of debt. In line with the strategy of strengthening the company’s finances under a zero net indebtedness premise in real terms, […]

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