Turkey on Friday called on major international oil and gas companies seeking a license to search for gas deposits off of Cyprus to withdraw their bids, saying it will not allow exploration to go ahead and threatening to ban them from Turkish energy projects. Israeli firms such as Delek Israel and Avner Oil and Gas as well [...]
BP’s has awarded a £75 million contract to DHL Supply Chain to manage its the warehousing and distribution of goods for its UK convenience retail business until 2018. The contract builds on DHL’s eight-year track record for implementing efficiency improvements for BP UK Convenience Retail, aiming to achieve even greater levels of cost and carbon savings [...]
Investors are bracing for Facebook’s Wall Street debut on Friday after the world’s No.1 online social network raised about $16 billion in one of the biggest initial public offerings in U.S. history. Valued at $104 billion, Facebook is larger than Starbucks Corp and Hewlett-Packard combined, sparking intense speculation on how much higher its valuation will rise once shares [...]
A Shell subsidiary in Nigeria announced it started repairs on a crude oil pipeline in the country following an early May closure and force majeure declaration. Shell declared force majeure on Bonny Light crude, the Nigerian blend, as of May 4. “The action is due to production deferment caused by incessant crude theft and illegal [...]
ABB recently won an order worth $18 million from Daewoo to supply energy efficient propulsion and electrical power systems for two new deep sea pipeline installation vessels that will build oil transport infrastructure off the coast of Brazil. The order was booked in the first quarter. South Korean shipyard Daewoo Shipbuilding and Marine Engineering (DSME) [...]
Enbridge Inc kicked off one of the most sweeping expansions in its history on Wednesday, a C$3.2 billion ($3.2 billion)series of projects across its pipeline system aimed at moving western Canadian crude to Eastern refineries and preventing bottlenecks in the U.S. Midwest. Enbridge, already the largest transporter of Canadian oil exports, said C$2.6 billion worth [...]
Cairn Energy Plc said Thursday it has teamed up with Houston-based Marathon Oil Corp. to jointly bid for oil and gas exploration rights in Cyprus, where huge offshore discoveries of natural gas have reignited international tensions over the divided island. Cairn and joint venture partner Marathon submitted bids May 11, with a decision by the [...]
UK-based energy giant BG Group announced Wednesday its fifth consecutive Tanzanian gas discovery with the Mzia-1 exploration well located in Block 1, offshore southern Tanzania. Mzia-1 is BG Group’s first discovery within the deeper Cretaceous section and opens an extensive new play fairway within the Group’s offshore acreage in Blocks 1, 3 and 4, to complement [...]
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