ADNOC awards Petrofac $1.65B Dalma Gas Development contract

ADNOC awards Petrofac $1.65B Dalma Gas Development contract

Petrofac Emirates has been awarded two contracts, together worth around US$1.65 billion with Abu Dhabi National Oil Company in the United Arab Emirates. The new 15-year agreement, with an option of a 5-year extension, will enable ADNOC L&S to unlock value. In man-hours, the two FEED contracts, collectively, are the largest awarded by an oil and gas company. The engineering, procurement (including novated long lead items), construction, transportation, offshore installation and commissioning contracts. Under the agreement, ADNOC, the world’s largest exporter of sulphur, will steadily supply OCP, the largest worldwide sulphur importer, until 2025. Company successfully listed its shares on...

Chevron Technology Ventures invests in modular CO₂ capture system

Chevron Technology Ventures invests in modular CO₂ capture system

Carbon Clean Solutions Limited has completed an equity investment of $16 million from three global investors. Company announced that its wholly owned subsidiary Chevron Global Energy Inc. has completed the sell down of its 135 million shares. Company reached a settlement agreement with James Russell DeLeon, the principal funder of the fraudulent lawsuit against Chevron in Ecuador. Chevron U.S.A. Inc., will work with BP Exploration and Production Inc. (BP) and ConocoPhillips Company (ConocoPhillips). It adjoint with WAVE Equity Partners, Chevron Technology Ventures, and Marubeni Corporation. Delivers on core financial priorities, demonstrates commitment to capital discipline and superior shareholder returns. The...

BP’s carbon-neutral pledge puts pressure on Exxon, Chevron

BP’s carbon-neutral pledge puts pressure on Exxon, Chevron

BP’s pledge to zero out all its carbon emissions by 2050 deepens the divide between major European and American oil producers on climate change. BP set a new ambition to become a net zero company by 2050 or sooner. BP, as operator and on behalf of co-venturer Shell, today announced encouraging early production from the Alligin field. It increasing the pressure for Exxon Mobil Corp. and Chevron Corp. to do more. BP issued statement in response to articles by Greenpeace and the Guardian on its consultation on NEPA. The board of BP p.l.c announced that Brian Gilvary, BP chief financial...

Putin keeps OPEC+ waiting for decision on output cuts

Putin keeps OPEC+ waiting for decision on output cuts

President Vladimir Putin, who plays a decisive role in OPEC+ oil policy, hasn’t yet decided whether Russia will support the group’s proposal for deeper production cuts. A delegate made the announcement ahead of the next meeting of the Organisation of Petroleum Exporting Countries on April 17. The cartel has been flooding the world market with cheap oil, apparently in a bid to put shale oil producers out of business. The leader will make up his mind in a “timely” manner, his spokesman Dmitry Peskov told reporters in Moscow on Thursday. One analyst said the output cut ‘feels like a bit...

CGG, Fairfield team up on new Permian multi-client seismic program

CGG, Fairfield team up on new Permian multi-client seismic program

CGG and Fairfield Geotechnologies have signed a second cooperation agreement to acquire a series of large-scale. CGG and Fairfield Geotechnologies on last Thursday reported that they have signed an agreement. Geoscience company CGG has been awarded a contract by Brunei Shell Petroleum. Company announced that is looking to commence discussions with stakeholders. CGG acquired the broadband seismic survey to support Gabon’s 11th Licensing round. The high-density, multi-client surveys in the Central Basin Platform (CBP) of the Permian basin located in West Texas. The multi-survey program is designed to improve industry insight into the region’s geology. CGG reported Thursday that the...

Oil price gains hold while Russia keeps OPEC+ waiting on output cut

Oil price gains hold while Russia keeps OPEC+ waiting on output cut

Oil advanced from a one-year low even as Russia kept OPEC+ waiting on a decision about whether to cut production in response to the coronavirus outbreak. Oil production in the US has continued to expand and now stands at a record level of 12.9 million barrels. All the leading producers are committed to the level. US inventory and a economic growth slowdown. Futures climbed as much as 2.3% in New York on Tuesday, following equities higher. The energy ministers of Saudi Arabia and Russia called on all producers to comply with oil output cuts under an OPEC-led supply deal. OPEC...

Wartsila, DNV GL to collaborate in accelerating marine sector’s digital transformation

Wartsila, DNV GL to collaborate in accelerating marine sector’s digital transformation

Wartsila and DNV GL have signed a Memorandum of Understanding (MoU) in which they agree to work together. The news page has been set up to provide you with the latest details on DNV GL. 13 wind and solar PV projects of innogy’s renewable energy portfolio will be made available. It contribute to the marine industry’s ongoing digital transformation. DNV GL has successfully achieved designation as a Notified Body in Oslo by the Norwegian Health Authorities. DNV GL has launched a new online tool, Solar Resource Compass. Wind parks are totaling 111 GWh per annum of renewable power, the equivalent...

UAE finds 80 tcf gas field, the world’s biggest since 2005

UAE finds 80 tcf gas field, the world’s biggest since 2005

Dubai and Abu Dhabi made what could be the world’s largest natural gas discovery since 2005 as the two biggest sheikhdoms in the United Arab Emirates. UAE is committed to implementing the global plan to reduce disaster losses via the Sendai Framework. It keen to develop a museum and future strategy. It’s aim to push the country to energy self-sufficiency. The rapid urbanisation of Gulf countries in recent decades has highlighted the urgent need for urban risk management. Theresa May will share her perspectives on female leadership in government and the important contribution. The global economy is certainly bearing the...

Following Repsol’s lead, Equinor includes end use in its climate goals

Following Repsol’s lead, Equinor includes end use in its climate goals

Equinor ASA boosted its targets for reducing emissions just as its oil and gas production hit a record high. Company launches a new climate roadmap aiming to ensure a competitive. For the first time, the Norwegian state-controlled producer set a target for carbon-emissions cuts that also includes the end use of the products it sells. Equinor and its partner Shell have completed a joint acquisition of the 49% interest held by Schlumberger. The move, which Equinor had initially resisted, is another illustration of the tremendous pressure building against the oil industry to act on climate change. Company signed an agreement...

Chevron to evaluate CO₂ capture technologies for California facility

Chevron to evaluate CO₂ capture technologies for California facility

Chevron Technology Ventures (CTV) commissioned a pre-FEED study that will explore the potential for trialing carbon-capture technology. Accordingly, Chevron anticipates that Anadarko will terminate the Merger agreement. PRSI’s 466-acre complex in Pasadena, Texas, adds a second refinery to CUSA’s Gulf Coast downstream business. The study will evaluate the feasibility and design of a 10,000 ton per year carbon capture unit from Svante Inc. Inchausti succeeds Jeanette Ourada, who has elected to leave the company. Disciplined capital allocation prioritizes high return, lower risk investments. Company announced that it has sanctioned the Anchor project in the U.S. Gulf of Mexico. In one...