Regional News

ExxonMobil awards FPSO contract to SBM Offshore

June 22, 2017 | Oilfield Services, Rigs & Vessels, South America

London, UK | – American multinational oil and gas corporation, ExxonMobil, has confirmed the award of contracts for the next phase of the Liza project in Guyana – including one for SBM Offshore. SBM Offshore will construct, install, lease and operate a FPSO vessel for the firm. The company’s chief executive Bruno Chabas welcomed the news, and put the award down to the company’s experience. He said: “We are proud that ExxonMobil awarded SBM Offshore the contracts for the Liza FPSO. The Liza Field offshore …

Wood Group wins Statoil concept and feasibility study contracts

June 12, 2017 | Company Operations, Contracts, North Sea & Western Europe

Aberdeen, UK | –  Wood Group has been awarded two new contracts by Statoil to deliver concept and feasibility studies to their Norwegian North Sea assets. Effective immediately, the company will deliver a topside concept study evaluating the tie in of Total’s Garantiana field development to Statoil’s Gullfaks B and Visund facilities. In addition, Wood Group will provide a feasibility study for Statoil’s Tampen oil pipeline, covering subsea pipelines and risers and topside modifications. The two contracts are awarded under an evergreen master services agreement …

Oil giant Shell plans to cut 90 jobs at its Scottish headquarters in Aberdeen

June 02, 2017 | Company Operations, Employment, North Sea & Western Europe

  Shell told staff on Thursday that the positions are expected to go by the end of 2017 London, UK | – British–Dutch multinational oil and gas company, Shell said the move is not connected to plans to sell off £3 billion of assets to North Sea rival Chrysaor. Shell is also cutting 380 jobs in Glasgow with the closure of its offices in the city. Steve Phimister, UK vice president for upstream operations, said: “We intend to reduce the size of the organisation by approximately 90 onshore …

Trump dismays, angers allies by abandoning global climate pact

June 02, 2017 | Health, Safety & Environment, Renewable Energy, United States & Canada

London, UK | – President Donald Trump on Thursday said he would withdraw the United States from the landmark 2015 global agreement to fight climate change, drawing anger and condemnation from world leaders and heads of industry. Trump, tapping into the “America First” message he used when he was elected president last year, said the Paris accord would undermine the U.S. economy, cost U.S. jobs, weaken American national sovereignty and put the country at a permanent disadvantage to the other countries of the world. “We’re …

ExxonMobil to acquire one of world’s largest aromatics plants

May 11, 2017 | Asia, Asset Acquisitions & Divestitures, Company Operations

London, UK | – ExxonMobil Chemical Company announced today that its Singapore affiliate has reached an agreement with Jurong Aromatics Corporation Pte Ltd to acquire its plant located on Jurong Island in Singapore. The plant, one of the largest in the world with an annual production capacity of 1.4 million tonnes, presents operational and logistical synergies for ExxonMobil’s integrated refining and petrochemical complex nearby. The company expects to complete the transaction in the second half of 2017. “As a leading global manufacturer of aromatics, the …

ConocoPhillips sells San Juan basin assets for $3 billion

April 13, 2017 | Asset Acquisitions & Divestitures, Company Operations, Gulf of Mexico

Houston, Texas US | – The world’s largest independent exploration and production company, based on proved reserves and production of liquids and natural gas, ConocoPhillips announced it has entered into a definitive agreement to sell its interests in the San Juan basin to an affiliate of Hilcorp Energy Co for up to $3.0 billion of total proceeds, comprised of $2.7 billion in cash and a contingent payment of up to $300 million. The cash portion of the proceeds is subject to customary closing adjustments. The …

China binging on African oil like never before after OPEC cuts

April 07, 2017 | Africa, Energy Trading & Markets, OPEC

London, UK | – China is set to import record amounts of crude oil from West Africa this month as OPEC’s supply cuts pave the way for other nations to gain a greater foothold in the fast-growing Asian market. West African producers led by Angola and Nigeria are poised to send crude to China at the rate of 1.48 MMbpd in April, the most since Bloomberg began compiling the data in August 2011, according to loading programs and traders. Overall Asian imports of West African …

Italy’s Enel Green Power signs PPA for 34MW PV project in Zambia

April 05, 2017 | Africa, Renewable Energy

London, UK | – Italian multinational renewable-energy corporation, Enel Green Power has signed a 25-year PPA with Zambia’s state-owned utility ZESCO for a 34MW PV project in the Lusaka South Multi-Facility Economic Zone in southern Zambia. Enel won the Ngonye project in June during the first round of the International Finance Corporation’s (IFC) Scaling Solar Programme in Zambia, notorious for its record-low tariffs. This is Enel’s first foray into Zambia’s renewable energy market, with the company investing around US$40 million in the construction of the …