Energy

Total sells equity stake in Hazira Terminal
Energy

Total sells equity stake in Hazira Terminal

Total said it has signed a binding Letter of Intent (LOI) with Shell for the sale of its 26% minority equity stake in Hazira LNG regasification terminal in India. The company said the transaction remains subject to the approval of regulatory authorities. In parallel, Total has signed an agreement to […]

Shell plans to acquire Brazil’s Electrobras
Energy

Shell plans to acquire Brazil’s Electrobras

Royal Dutch Shell said it is evaluating the acquisition of the assets of Centrais Eletricas Brasileiras SA’s, Electrobras. The affected assets of Electobras are being put up for sale as part of the state-owned utility’s debt reduction and privatization plans. Shell’s chief executive for the Brazilian unit, Andre Araujo told […]

Saudi reportedly cancels Saudi Aramco proposed listing
Energy

Saudi reportedly cancels Saudi Aramco proposed listing

Latest reports from Reuters News claims that Saudi Arabia has canceled the proposed public listing of Saudi Aramco, its state-owned oil corporation. The report claimed that Saudi Arabia has also disbanded the financial advisors for the deal. According to unnamed sources, the country will instead buy a strategic stake in […]

Total quits iran’s South Pars gas project
Energy

Total quits iran’s South Pars gas project

Oil and gas firm, Total confirmed that it had notified the Iranian authorities of its withdrawal from the multi-billion dollar South Pars gas project after it failed to obtain a waiver from U.S. sanctions, Reuter reports. “The contractual process is ongoing,” Total said in an emailed statement. “As for the […]

Nigeria’s NNPC to list on the local stock exchange
Energy

Nigeria’s NNPC to list on the local stock exchange

Nigeria’s national oil company, the Nigerian National Petroleum Corporation, NNPC, said it will take itself public. The NNPC is the continent’s largest producer with over 1.5 million barrels of crude production daily. The NNPC said in a statement that it will list 40% of it’s equity on the local bourse, […]

Petrofac secures USD370 million Southern Iraq contract
Energy

Petrofac secures USD370 million Southern Iraq contract

Petrofac has been awarded a contract worth around USD370 million by Basra Oil Company (BOC) for expansion of the Central Processing Facility (CPF), located in the Majnoon Field, Southern Iraq. Under the terms of the 34-month contract, the lump-sum engineering, procurement and construction (EPC) project scope of work includes two […]