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360 Articles

Source: Reuters/Arnd Wiegmann

BP raises Asian profile with Chinese acetic acid plant plan

Source: Reuters LONDON (Reuters) – BP is increasing its Asian presence with an initial agreement, or memorandum of understanding, with China’s Zhejiang Petroleum and Chemical Corporation (ZPCC) to build a 1 million tonne a year acetic acid plant, BP said on Friday. The planned production site for acetic acid, which is used in chemical products such as paints and adhesives,[Read More…]

October 18, 2019 - 12:30 pm 360 Articles, Closing Bell Story, Energy News, International
Source: Qatar Petroleum

Qatar Petroleum Partners with Total in Africa, South America

By Tyler Losier, Energy Reporter, Oil & Gas 360 Qatar Petroleum signs agreement to farm Total-held exploration acreage in Namibia, Guyana and Kenya Qatar Petroleum (QP), Qatar’s state-owned energy company, has signed an agreement with French supermajor Total SA (stock ticker: TOT), under which the company will farm into Total-held exploration acreage in Namibia, Guyana and Kenya. With regards to[Read More…]

Source: Angkor Gold Corp.

Angkor Subsidiary Receives Approval for Cambodian Oil and Gas Concession

By Tyler Losier, Energy Reporter, Oil & Gas 360 EnerCam Resources receives approval from the Royal Government of Cambodia to develop Petroleum Block VIII EnerCam Resources Co. Ltd., a subsidiary of Canadian mineral company Angkor Gold Corp. (stock ticker: ANK:CA, ANKOF), has received approval from the Royal Government of Cambodia on its application for a 7,300 square kilometer oil and[Read More…]

Source: Oryx Midstream Services

Oryx Midstream Lands $550 Million from Qatar Investment Authority

By Tyler Losier, Energy Reporter, Oil & Gas 360 Qatar Investment Authority acquires significant stake in Oryx Midstream Services from an affiliate of Stonepeak Infrastructure Partners Qatar Investment Authority (QIA), the country’s sovereign wealth fund, will be acquiring a significant interest in Permian crude operator Oryx Midstream Services from an affiliate of Stonepeak Infrastructure Partners, in addition to chipping in[Read More…]

Source: Borr Drilling

Borr Drilling Awarded Contract by Pemex

By Tyler Losier, Energy Reporter, Oil & Gas 360 Borr Drilling is awarded its fourth Mexican contract in less than nine months Borr Drilling (stock ticker: BORR), an international drilling contractor headquartered in Bermuda, has been awarded a contract by Petróleos Mexicanos (Pemex) for the employment of a jack-up drilling rig. Previously, the company has entered into two other similar[Read More…]

Icahn Enterprises Completes Sale of Brazilian Resource Company

Icahn Enterprises Completes Sale of Brazilian Resource Company

By Tyler Losier, Energy Reporter, Oil & Gas 360 Icahn Enterprises closes sale of Ferrous Resources to Vale S.A. for $550 million Icahn Enterprises L.P. (stock ticker: IEP), a conglomerate company owned by American investor Carl Icahn, has closed on its previously announced sale of Ferrous Resources Limited to Brazilian mining company Vale S.A. for a total consideration of $550[Read More…]

Source: CSV Midstream Solutions

Paramount Resources Closes Sale of Karr 6-18 Nat Gas Facility

By Tyler Losier, Energy Reporter, Oil & Gas 360 Paramount Resources completes divestiture of its Karr 6-18 facility to CSV Midstream Solutions Paramount Resources Limited, a liquids-focused independent E&P based in Calgary, has completed the sale of its Karr 6-18 natural gas facility to CSV Midstream Solutions for a total of approximately $470 million. The consideration includes approximately $330 million[Read More…]

Source: Enbridge Inc.

Enbridge Holds Open Season for Canadian Mainline Pipeline

By Tyler Losier, Energy Reporter, Oil & Gas 360 Enbridge seeks up to 20-year contracts for transportation services on its Canadian Mainline pipeline system  Enbridge Inc. (stock ticker: ENB), an energy infrastructure company headquartered in Calgary, will be holding an open season for transportation services on its Canadian Mainline pipeline system. As of right now, 100% of the Mainline’s capacity[Read More…]

Occidental and Ecopetrol Team Up in the Midland

Occidental and Ecopetrol Team Up in the Midland

By Tyler Losier, Energy Reporter, Oil & Gas 360 Occidental Petroleum and Ecopetrol S.A. form joint venture in the Midland Basin Occidental Petroleum Corporation (stock ticker: OXY), the fourth largest public E&P by market capitalization, has formed a joint venture (JV) with Colombia-based Ecopetrol S.A. (stock ticker: EC) to develop 97,000 net acres of Occidental’s Midland Basin properties, subject to[Read More…]

Toronto's Portlands Energy Centre (source: CNW Group/Ontario Power Generation Inc.)

TC Energy to Sell Ontario Natural Gas-Fired Power Plants for US $2.18 Billion

By Tyler Losier, Energy Reporter, Oil & Gas 360 TC Energy to sell three natural gas-fired power plants to Ontario Power Generation subsidiary for USD $2.18 billion TC Energy Corporation (stock ticker: TRP), an energy infrastructure company based out of Calgary, has entered into an agreement through its wholly-owned subsidiary, TransCanada Energy Limited, to sell interests in three Ontario natural-gas[Read More…]

Source: Abu Dhabi National Oil Company

Singapore’s Sovereign Wealth Fund Joins KKR and BlackRock in Abu Dhabi Pipeline Investment

By Tyler Losier, Energy Reporter, Oil & Gas 360 Combined investment in Abu Dhabi National Oil Company’s pipeline project reaches almost $5 billion Source: Abu Dhabi National Oil Company Singapore’s sovereign wealth fund, GIC, has entered into an agreement with the Abu Dhabi National Oil Company (ADNOC) to contribute $600 million towards crude pipeline infrastructure, joining other prominent investors such[Read More…]

Source: Boor Drilling

Borr Drilling Goes Public

By Tyler Losier, Energy Reporter, Oil & Gas 360 Borr Drilling Limited launches IPO of five million common shares Borr Drilling (stock ticker: BORR), an international drilling contractor headquartered in Bermuda, has launched an initial public offering (IPO) in the United States for 5 million of its common shares. The newly public security will trade under the ticker symbol “BORR.”[Read More…]

Japan’s Osaka Gas to Acquire Haynesville Shale-Focused American E&P

Japan’s Osaka Gas to Acquire Haynesville Shale-Focused American E&P

By Tyler Losier, Energy Reporter, Oil & Gas 360 Japanese company Osaka Gas to acquire Texas-based Sabine Oil & Gas Corporation Osaka Gas, a vertically integrated Japanese energy company, has entered into a definitive agreement with Houston-based Sabine Oil & Gas Holdings to acquire 100% of the outstanding shares of its subsidiary, Sabine Oil & Gas Corporation. Should the deal[Read More…]

Excelerate Energy’s EXCALIBUR LNG carrier (source: PR Newswire)

YPF Partners with Excelerate on LNG Exports

By Tyler Losier, Energy Reporter, Oil & Gas 360 YPF S.A. reaches preliminary agreement with Excelerate Energy to charter LNG carrier YPF S.A., the state-operated oil company of Argentina, has reached a preliminary agreement with Excelerate Energy, a U.S.-based LNG company, for the charter of a carrier to export LNG produced from YPF’s TANGO floating LNG unit. Both parties will[Read More…]

Source: Wintershall Dea

Wintershall Partners with ConocoPhillips in Argentina’s Vaca Muerta

By Tyler Losier, Energy Reporter, Oil & Gas 360 German E&P Wintershall Dea teams up with ConocoPhillips to develop Argentina’s Neuquén Basin Wintershall Dea, a German-based E&P with a global asset portfolio, has signed a sales and purchase agreement (SPA) with ConocoPhillips (stock ticker: COP) to jointly develop the Aguada Federal and Bandurria Norte blocks in the central Argentine province[Read More…]

Source: Security Service of Ukraine

Ukrainian Authorities Detain Russian Tanker

By Tyler Losier, Energy Reporter, Oil & Gas 360 Security Service of Ukraine detains Russian oil tanker, releases crew after threats from Moscow A Russian oil tanker is being detained by Ukrainian authorities in the port of Izmail near the Black Sea in what appears to be an act of retaliation for a similar incident that occurred last November. According[Read More…]

Cuda Oil and Gas Divests Quebec for US $8.05 Million

Cuda Oil and Gas Divests Quebec for US $8.05 Million

By Tyler Losier, Energy Reporter, Oil & Gas 360 Cuda Oil and Gas to sell all of its Quebec assets for a transaction value of US $8.05 Million Cuda Oil and Gas Inc. (stock ticker: CUDA), a Calgary-based E&P with operations across North America, has entered into a series of binding asset purchase agreements (APAs) to sell all of its[Read More…]

How Big is Saudi Aramco?

How Big is Saudi Aramco?

By Tyler Losier, Energy Reporter, Oil & Gas 360 The staggering size of Aramco: Saudi Arabia’s state-owned oil company In 1933, the government of Saudi Arabia signed a concession agreement with the Standard Oil Company of California, creating an entity known as the California Arabian Standard Oil Company. Two years later, drilling began, and in 1938, famed geologist Max Steineke[Read More…]

U.S. Sanctions China’s State-Run Oil Company for Buying from Iran

U.S. Sanctions China’s State-Run Oil Company for Buying from Iran

By Tyler Losier, Energy Reporter, Oil & Gas 360 Secretary of State Mike Pompeo announces sanctions for Zhuhai Zhenrong and its chief executive The United States government will be imposing sanctions on Zhuhai Zhenrong Company Limited, a state-run oil company in China, and its chief executive for purchasing crude oil from Iran. On Monday, Secretary of State Mike Pompeo announced[Read More…]

Iran Seizes Two More Tankers as Strait of Hormuz Tension Escalates

Iran Seizes Two More Tankers as Strait of Hormuz Tension Escalates

By Tyler Losier, Energy Reporter, Oil & Gas 360 British and Liberian-flagged vessels seized by Iran, who President Trump calls “nothing but trouble” Iran has seized two oil tankers – one British-flagged and one Liberian-flagged – in the Strait of Hormuz, following through on its threats to retaliate after one of its ships was seized by U.K. authorities off the[Read More…]

New CEO, Chairman at Schlumberger

New CEO, Chairman at Schlumberger

By Tyler Losier, Energy Reporter, Oil & Gas 360 Schlumberger appoints Olivier Le Peuch as CEO, Mark G. Papa as non-executive chairman of the board Schlumberger Limited (stock ticker: SLB), the largest public oilfield services company in the world by both market capitalization and enterprise value, has elected Olivier Le Peuch as its chief executive officer, effective August 1, 2019.[Read More…]

Iran Reportedly Seizes Oil Tanker in Strait of Hormuz

Iran Reportedly Seizes Oil Tanker in Strait of Hormuz

By Tyler Losier, Energy Reporter, Oil & Gas 360 Iranian Revolutionary Guard seizes foreign tanker, claims it was smuggling fuel Iran’s Islamic Revolutionary Guard Corps Navy has reportedly seized a foreign oil tanker traveling through the Strait of Hormuz, claiming that the ship was attempting to smuggle Iranian oil out of the country. Based on a series of videos released[Read More…]

Oil Tanker Disappears in the Strait of Hormuz

Oil Tanker Disappears in the Strait of Hormuz

By Tyler Losier, Energy Reporter, Oil & Gas 360 UAE denies ownership of the Panama-flagged vessel, which has been missing for two days The Riah, a 190-foot Panama-flagged oil tanker traveling through the Strait of Hormuz, has been missing since Saturday after its transponder stopped broadcasting near the coast of the small Iranian island of Qeshm. According to the Associated[Read More…]

EcoStim Energy Solutions provides completion and stimulation services in Argentina's Vaca Muerta shale play.

Seasonal Demand Patterns Give Argentinian LNG a Unique Opportunity

By Tyler Losier, Energy Reporter, Oil & Gas 360 Vaca Muerta production growth leads to LNG exports In the past few years, Argentina’s natural gas production has been steadily rising, mainly due to an increased focus on the Vaca Mueta shale and tight gas play, located in the Neuquén Basin. Currently, production from the Vaca Muerta accounts for 23% of[Read More…]

Source: Saudi Aramco

Aramco to Increase Oilfield Production Capacity by 500,000 BOPD

By Tyler Losier, Energy Reporter, Oil & Gas 360 Marjan and Berri oilfields to increase capacity by 550,000 BOPD, 2.5 BSCFD of gas Saudi Aramco, the state oil company of Saudi Arabia, has awarded 34 contracts worth $18 billion for increment programs to increase production in its Marjan and Berri oilfields. More specifically, the company plans to add an additional[Read More…]

Source: Chevron Phillips

Chevron Phillips and Qatar Petroleum Team Up Again

By Tyler Losier, Energy Reporter, Oil & Gas 360 New $8 billion project would include 2,000 KTA ethylene cracker Petrochemical company Chevron Phillips – equally owned by Chevron Corporation and Phillips 66 – has formed another joint venture with Qatar Petroleum (QP), this time to build an $8 billion petrochemical plant in the Gulf Coast region of the United States.[Read More…]

Source: Equinor

Equinor Trades Up to Boost Interest in Johan Sverdrup Field

By Tyler Losier, Energy Reporter, Oil & Gas 360 Equinor swaps 16% stake in Lundin for $1.5 billion, buys 2.6% stake in Johan Sverdrup field on Norwegian continental shelf for $910 million Norwegian supermajor Equinor ASA (stock ticker: EQNR) has struck a deal with independent E&P Lundin Petroleum (stock ticker: LUPE.ST) to divest its 16% interest in Lundin, which equates[Read More…]

Supertanker Suspected of Violating Sanctions Seized Off the Coast of Gibraltar

Supertanker Suspected of Violating Sanctions Seized Off the Coast of Gibraltar

By Tyler Losier, Energy Reporter, Oil & Gas 360 Vessel suspected of carrying Iranian oil to Syria in violation of EU sanctions An Iranian supertanker carrying oil allegedly bound for Syria was detained in Gibraltar by British Royal Marines this Thursday for violating sanctions put in place by the European Union, further straining the already tense relationship between and Tehran[Read More…]

Source: Kuwait Oil Company

Kuwait Teams Up with Halliburton

By Tyler Losier, Energy Reporter, Oil & Gas 360 First offshore project for Kuwait since early 1980s Kuwait Oil Company (KOC) and Halliburton (stock ticker: HAL) have signed an integrated offshore drilling services contract for six high-pressure, high-temperature exploration wells and two jack-up rigs in the Arabian Gulf. This marks the first time since the early 1980s that KOC is[Read More…]

Source: Woodfibre LNG

Canadian LNG Company Signs SPA with BP

By Tyler Losier, Energy Reporter, Oil & Gas 360 Woodfibre LNG to deliver 0.75 Mtpa over 15-year period Woodfibre LNG, a wholly owned subsidiary of Pacific Oil & Gas Limited, has signed a binding sales and purchase agreement with BP Gas Marketing Limited, a wholly owned subsidiary of BP (stock ticker: BP), for the delivery of 0.75 Mtpa of LNG[Read More…]