Saudi Arabian Oil Company (Aramco) and TotalEnergies have signed an $11 billion contract to start building a new petrochemicals complex in Saudi Arabia, the two companies said in a joint statement on Saturday. “Aramco and TotalEnergies today awarded Engineering, Procurement and Construction (EPC) contracts for the $11 billion “Amiral” complex, …
Read More »Russia’s Gazprom Looks to Africa for Gas Production
Gazprom is ready to help African countries to produce natural gas, representatives of the Russian gas giant said at a meeting with officials from African countries in Johannesburg this week. “I believe that Gazprom’s experience implementing liquefied natural gas and gas pipeline construction projects could be of interest to South …
Read More »China’s Cnooc Plans Offshore Oil, Gas Exploration in Tanzania
China’s Cnooc Ltd. is planning offshore oil and gas exploration with state-owned Tanzania Petroleum Development Corp. as the East African nation seeks to boost the development of its natural resources. The joint work will be conducted in deep-sea blocks 4/1B and 4/1C held by TPDC, according to Tanzanian Energy Minister …
Read More »Japan’s Mitsui Says no Plans to Exit Russia’s Sakhalin-2 LNG Project
Japanese trading house Mitsui & Co has no plans to withdraw from the Sakhalin-2 liquefied natural gas (LNG) project in Russia, a senior executive said on Wednesday, adding the operation was continuing super-chilled fuel exports to Japan. “We have decided last year to keep our stake in the Sakhalin-2 after …
Read More »QatarEnergy, China’s National Petroleum Corp to Sign 27-Year LNG Deal
QatarEnergy will sign a 27-year deal to supply China’s National Petroleum Corp with 4 million tons of liquefied natural gas (LNG) per year, sources told Reuters on Tuesday. CNPC will also take a 5 per cent equity stake of one LNG train of QatarEnergy’s north field gas expansion, sources added.
Read More »Oil and Gas is Too Profitable for Shell to Ignore
One of the world’s largest oil and gas companies—and a favorite target of climate activists and activist investors—is making something of a U-turn on its plans for the future. Shell, which was sued into cutting its oil output, is going back to oil and gas in a big way, and …
Read More »Siemens to Invest US$2.2 Billion to Ramp up Global Production; Plans New Plant in Singapore
Siemens will spend €2 billion (US$2.16 billion) on a new global investment plan, the German engineering and technology group said on Thursday (Jun 15), as it gears up to meet increased demand triggered by global stimulus packages. Siemens will build new factories, research and development centres and training sites around …
Read More »Saudi Aramco to Supply Full Oil Volumes to some Asian Refiners in July
Saudi Aramco has told at least five customers in North Asia they will receive full nominated volumes of crude oil in July, several sources with knowledge of the matter said on Monday, after it pledged to cut production next month. Saudi Arabia, the world’s top oil exporter, vowed to reduce …
Read More »Aramco Eyes Major Opportunity in Iraq
Following the recent China-brokered resumption of relationship deal between historical enemies Saudi Arabia and Iran, a deal for the Kingdom to develop two key projects in Iran’s close ally Iraq is in the offing. The problem with this idea is that it is dependent on two highly unpredictable elements. The …
Read More »Exxon and Chevron Close to Signing Gas Exploration Deals in Algeria
ExxonMobil and Chevron could gain access to Algeria’s vast natural gas resources as the U.S. supermajors are in advanced talks for exploration and production deals in the North African country, The Wall Street Journal reported on Friday, quoting sources with knowledge of the talks and Algerian Energy Minister Mohamed Arkab. …
Read More »