Company Operations

Protesters say they briefly shut three ENI oil wells in Nigeria

December 12, 2017 | Company Operations, Nigeria, Politics & Social Unrest

Yenogoa, Nigeria | –  Protesters briefly shut three oil wells owned by Italy’s ENI in the Niger Delta region of south-south Nigeria over the weekend and could try do so again, a community leader said on Tuesday. Timiondi Fabofighe, chairman of the Ikebiri Community Development Committee (CDC), said the protests, against the presence of multinational oil companies in Nigeria’s oil production heartland, took place at ENI’s subsidiary Agip in Bayelsa state. ENI declined to comment. It was not immediately clear if the protests had affected …

South Africa’s Sasol signs $3.9 billion credit facility

November 28, 2017 | Budget & Investment, Company Operations, South Africa

Johannesburg, South Africa | – South Africa’s multinational energy and chemicals group Sasol has signed a $3.9 billion five-year credit facility. According to a note to shareholders issued on Thursday, the initial target was $3bn but due to oversubscription, it increased to $3.9bn. The revolving credit facility includes two further extension options of one year each. Chief financial officer Paul Victor, who was speaking at Sasol’s Capital Markets Day in Sandton on Thursday, said the credit facility would help with liquidity and refining the group’s debt. …

Sasol dumps $13-$15 billion U.S. project, to exit Canadian shale

November 28, 2017 | Company Operations, Petrochemicals, South Africa

Johannesburg, South Africa |  – South Africa’s  integrated energy and petrochemical company, Sasol is pulling out of all of its gas-to-liquids (GTL) greenfield projects including one in Louisiana project expected to cost $13 billion to $15 billion, the company said on Thursday. Walking away from the project, which would have been the biggest investment abroad by a South African company, underscores the headwinds the industry is facing in a volatile market with generally depressed prices. “While our current GTL assets are generating good returns and …

Shell partners with automakers on fast-charging stations for battery vehicles

November 27, 2017 | Company Operations, Products, Services & Techniques

London, UK – Royal Dutch Shell, one of the world’s largest multinational Oil and Gas Company has partnered with top carmakers to deploy ultra-fast chargers on Europe’s highways, stealing a march on rivals in the race to remove one of the biggest obstacles facing the electric car sector. Shell’s agreement with IONITY – a joint venture between BMW, Daimler, Ford, and Volkswagen – will initially bring high-powered docks to 80 highway sites in 2019, it said in a statement. Power giants including France’s Engie and …

Algeria’s Sonatrach, Baker Hughes form JV to build Algeria plant

November 12, 2017 | Algeria, Company Operations, Oilfield Services

Algiers, Algeria | – Sonatrach, Algeria’s state energy producer, has signed an agreement with Baker Hughes, a GE company (BHGE), to set up a 2,000-sq-m oilfield equipment manufacturing facility in Arzew Industrial Zone aiming to strengthen Algeria’s position in the upstream oil and gas market to meet local demand. The agreement was signed in the presence of the Minister of Energy, Mustapha Guitouni, at a ceremony hosted by Sonatrach in Algiers. Sonatrach and BHGE will have 51 per cent and 49 per cent ownership respectively, …

Halliburton opens new oil and gas training and research centre in Nigeria

November 10, 2017 | Company Operations, Nigeria, Oilfield Services

Uyo, Akwa Ibom, Nigeria | – American multinational oilfield service corporation Halliburton announced today that it worked with the Akwa Ibom state government  to inaugurate and open Nigeria’s first oil and gas training centre fully-equipped with oilfield operations tools. The Akwa Ibom Oil and Gas Training and Research Centre will provide courses in field development, drilling and completions engineering, well intervention solutions and digital technologies to local energy employees and students. Halliburton Landmark will provide the training curriculum, instructors, software, workstations and tools to be …

34 firms bid to secure NNPC’s downstream assets in Nigeria

November 02, 2017 | Company Operations, Contracts, Nigeria

Abuja, Nigeria |  — The Nigerian National Petroleum Corporation (NNPC) has described the bid by a total of 34 firms to provide security services for its assets across the country as efforts to consolidate on steady supply and distribution of petroleum products in the country. A statement from the Corporation said the public opening of bid is part of the Corporation’s commitment to transparency as a Focused, Accountable, Competitive and Transparent organisation, conducting its business with Integrity (FACTI) as reported by Nigerian newspaper Leadership. The …

Shell takes Exxon Mobil’s cash-flow crown as profit beats estimate

November 02, 2017 | Asset Acquisitions & Divestitures, Company Operations, Earnings Reports

London, UK | – Royal Dutch Shell has taken Exxon Mobil’s cash-flow crown, a year after completing the biggest deal in its history. Europe’s largest energy company vaulted ahead on this closely watched indicator of financial health in the first nine months of 2017, as assets acquired from BG Group from Brazil to Australia churned out cash. For the year as a whole, Shell is on course to surpass its larger U.S. rival on the measure for the first time in about two decades. Shell …