Archive for Press Releases

NNPC Outline Plans to Attract Private Investment

NNPC Outline Plans to Attract Private Investment

June 22, 2018 No Comments

The Nigerian National Petroleum Corporation (NNPC) has outlined plans to attract private investments, ensure sustainable development and spur growth in the nation’s Oil and Gas Industry. Group Managing Director of the corporation, Dr. Maikanti Baru, disclosed this while speaking on the theme “Investment in the Oil and Gas Industry” at the 7th International Seminar of […]

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Closing of Post Acceptance Debt Financing

Closing of Post Acceptance Debt Financing

June 21, 2018 No Comments

Golar LNG Limited (“Golar” or “The Company”) announces today that following the June 4th announcement of commercial acceptance of Hilli Episeyo, the Company has repaid the $640 million drawn under the $700 million construction financing facility and drawn down on the post acceptance $960 million lease financing facility provided by CSSC Leasing. After the closing […]

Uncertainty Looms Large Over Latin American Oil

Uncertainty Looms Large Over Latin American Oil

June 21, 2018 No Comments

While oil industry analysts and market participants are watching Venezuela closely for clues about how low its oil production will go, several other countries in Latin America are holding key elections this year, elections that will no doubt shape the countries’ short and medium-term oil policies. These developments could spell trouble for oil supply and […]

U.S. To Be The World’s Top Oil Producer By Fall

U.S. To Be The World’s Top Oil Producer By Fall

June 21, 2018 No Comments

The United States is on track to become the world’s top oil producer as early as this fall, unseating the current no.1 Russia, according to Scott Sheffield, the chairman of one of the largest U.S. producers, Pioneer Natural Resources. U.S. oil production will exceed 11 million bpd within the next three to four months, Sheffield […]

Hydrogenated hydrocarbon resin and halobutyl production

Hydrogenated hydrocarbon resin and halobutyl production

June 21, 2018 No Comments

ExxonMobil said today it has started production of hydrogenated hydrocarbon resin and halobutyl rubber at its integrated manufacturing complex in Singapore, the company’s largest integrated refining and petrochemical complex in the world. “These new plants enhance the competitiveness and strategic importance of ExxonMobil’s integrated manufacturing facility in Singapore, and are part of the company’s long-term […]

Eni signs sale agreement with INA

Eni signs sale agreement with INA

June 21, 2018 No Comments

Eni and INA-INDUSTRIJA NAFTE, d.d. have signed an agreement to enable INA-INDUSTRIJA NAFTE, d.d. to acquire 100% of Eni Croatia b.v., that currently produces about 2.5 thousand barrels of oil equivalent day. The sale remains subject to approval by the competent Authorities. Supply of natural gas from Croatia to the Italian market will be secured […]

Eni completes 10% stake sale in Shorouk concession, offshore Egypt

Eni completes 10% stake sale in Shorouk concession, offshore Egypt

June 21, 2018 No Comments

Eni has finalized a 10% stake sale in the Shorouk concession to Mubadala Petroleum, a wholly-owned subsidiary of Mubadala Investment Company. The Shorouk concession is offshore Egypt, where the supergiant Zohr gas field is located. Eni, through its subsidiary IEOC, now holds a 50% stake of the Contractor’s Share, while Rosneft holds 30%, BP 10% […]

Hess Announces Eighth Oil Discovery Offshore Guyana

Hess Announces Eighth Oil Discovery Offshore Guyana

June 21, 2018 No Comments

Hess Corporation (NYSE: HES) today announced an eighth oil discovery offshore Guyana at the Longtail-1 exploration well, creating the potential for additional resource development in the southeast area of the Stabroek Block. The well encountered approximately 256 feet (78 meters) of high-quality, oil-bearing sandstone reservoir. The well was safely drilled to 18,057 feet (5,504 meters) […]

Shell completes sale of stake in Thailand’s Bongkot field to PTTEP

Shell completes sale of stake in Thailand’s Bongkot field to PTTEP

June 21, 2018 No Comments

Shell announced today that its affiliates, Shell Integrated Gas Thailand Pte Ltd and Thai Energy Company Ltd, have completed the sale of their 22.2222% interest in the Bongkot field and adjoining acreage offshore Thailand to PTT Exploration & Production Public Company Limited (PTTEP) and PTTEP International Limited, a wholly-owned subsidiary of PTTEP, for a transaction […]

Shell to sell Draugen and Gjøa interests to OKEA AS

Shell to sell Draugen and Gjøa interests to OKEA AS

June 20, 2018 No Comments

Royal Dutch Shell plc, through its affiliate A/S Norske Shell, has reached an agreement with OKEA AS to sell its entire 44.56% interest in Draugen and 12.00% interest in Gjøa in Norway for $556* million (NOK 4,520 million). The transaction is subject to regulatory approval and is expected to complete in Q4 2018. The transaction’s […]

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