Aramco Overseas Company BV, a subsidiary of Saudi Aramco, will purchase a 17% stake in South Korean refiner Hyundai Oilbank, supporting Aramco’s oil placement strategy by providing a dedicated outlet for Arabian crude to South Korea. Abdulaziz Al-Judaimi, Aramco’s senior vice-president of downstream, said…
As announced in December 2018, Siemens Gamesa Renewable Energy (SGRE) and Aalborg University (AAU) in Denmark are leading the i4Offshore research and development project focused on significantly reducing the cost of offshore wind power. Officially entitled “Integrated Implementation of Industrial Innovations for Offshore Wind…
Petronas has entered into an agreement with I Squared Capital, a leading global infrastructure investor, to acquire 100% interest in Amplus Energy Solutions, also known as M+, a leading Singapore-based company with a portfolio of distributed, renewable energy assets in Asia. The acquisition, which…
A total of 1,000 kilometres of the contentious Nord Stream 2 gas pipeline has now been laid in Finnish, Swedish, and German waters. The twin pipeline is operated by Russian Gazprom’s subsidiary, Nord Stream 2 AG. According to a statement by Nord Stream…
Maersk Supply Service has a signed a contract with Eniram, a Wärtsilä company, to install an energy advisory system on its vessels. Proof of concept will be carried out on two of Maersk Supply Service’s vessels: one M-class anchor handling tug supply vessel and…
Exxon Mobil Corporation is the latest company to raise concerns that a stockpile of US government crude is tainted with poisonous gas. The American energy giant said some of the oil it purchased last year from the Energy Department’s Strategic Petroleum Reserve, or SPR,…
Total and the Ministry of Oil and Gas of the Sultanate of Oman (MOG) have signed a Heads of Agreement (HoA) for the award to Total of an exploration licence on Block 12 with significant prospective gas resources. Under the terms of this HoA,…
Chevron Corporation has agreed to buy Anadarko Petroleum Corporation in a cash and stock deal which values Anadarko at US$50 billion and creates growth opportunities for Chevron in areas which play to its operational strengths. “The combination of Anadarko’s premier, high-quality assets with our…
It is awaiting an investment decision from a “major international oil company” and in the coming months CNOOC’s planned Iolar well could significantly de-risk prospects in Ireland’s Atlantic exploration frontier Europa Oil & Gas Holdings Plc is looking forward to a potential third-party exploration…
Global oil markets are tightening as OPEC supply falls, the International Energy Agency said, while warning it could lower demand forecasts because of economic threats. Crude inventories are set to decline for the rest of the year as Saudi Arabia and its partners curb…
