TransRe plans Luxembourg subsidiary in European expansion TransRe, the reinsurance arm of Transatlantic Holdings and a wholly owned subsidiary of Alleghany Corporation, is planning a subsidiary in Luxembourg as it looks to restructure and bolster its presence in the European Union. The new simplified…
John Neal appointed as Lloyd’s CEO Lloyd’s has confirmed that former QBE boss John Neal will replace outgoing CEO Inga Beale. In a statement, Lloyd’s said Mr Neal will take the helm in just over a month’s time, well before Ms Beale’s expected departure,…
Governor of California Edmund Brown has signed two pieces of legislation proposed by Senator Hannah-Beth Jackson and Assembly member Al Muratsuchi to block new federal offshore oil drilling along California’s coast. The governor signed the bills over the last weekend and announced the state’s…
Heads of Gazprom and PetroVietnam have signed a memorandum of cooperation concerning a gas field development offshore central Vietnam. They plan to supply gas from the Bao Vang field, discovered by Vietgazprom – a joint venture between the two companies – to a power plant which will be built in the Quang Tri…
PetroChina Company has signed a deal with Qatargas Operating Company to purchase 3.4 million tons of liquefied natural gas annually, the Chinese company’s biggest supply deal, amid a brewing trade war with the US which threatens to stifle the Asian nation’s purchases of American fuel….
Steel pipe construction specialist EEW Special Pipe Constructions GmbH has received an order from the Dutch company Heerema Marine Contractors (HMC) for 16 pin piles for Noble Energy’s Leviathan project offshore Israel. EEW said that the piles were required for anchoring the Leviathan production…
Last week Norway’s largest and longest pipeline, laid by the vessel Saipem Castorone, reached the Equinor-operated Johan Sverdrup field in the North Sea. Equinor announced on the 10th September that, late last week, the last pipe of what is now Norway’s longest and largest…
Santos said on the 7th September that the transaction was completed for cash proceeds of US$144 million. The sum represents the sale price of US$221 million after standard adjustments including net free cash flows generated by the assets and received by Santos from the…
Oil Minister Jabar Ali al-Luaibi announced on the 9th September the full rehabilitation of the Salahaddin-2 unit at Baiji oil refinery. The refinery was shut down in 2014 due to the actions of the Islamic State group (IS, ISIS, ISIL, Daesh). The Salahaddin-2…
An international tribunal administered by the Permanent Court of Arbitration in The Hague found that a US$9.5-billion judgment that Ecuador’s government lodged against Chevron Corporation in 2011 violated international treaties, investment agreements, and international law. Ecuador breached its obligations under a 1995 settlement agreement…
