Energy

Total sells 15% stake in Gina Krog to Kuwait’s KUFPEC
Energy

Total sells 15% stake in Gina Krog to Kuwait’s KUFPEC

France’s oil major, Total said it has divested its remaining stake in Gina Krog Field located in Norway to Kuwait Foreign Petroleum Exploration Company (KUFPEC). The agreement is an add-on to a 2016 transaction between Total and KUFPEC concerning Norwegian North Sea assets, which included a 15% interest in Gina Krog. […]

Rio Tinto’s opens Silvergrass mine worth USD338 million
Energy

Rio Tinto’s opens Silvergrass mine worth USD338 million

Rio Tinto has opened Silvergrass iron ore mine in Western Australia. The US$338 million project is the 16th mine at Rio Tinto’s iron ore operations. The Silvergrass mine will produce low-phosphorous ore crucial to maintaining Rio Tinto’s premium Pilbara Blend product. Rio Tinto chief executive J-S Jacques said “Silvergrass is […]

Statoil declares non-commercial gas at Korpfjell
Energy

Statoil declares non-commercial gas at Korpfjell

Statoil said it has discovered non-commercial gas volume in the Korpfjell well in the Barents Sea southeast. Korpfjell is the first exploration well drilled in the Norwegian section of a formerly disputed area between Norway and Russia. “We have all the time pointed out the high level of geological uncertainty […]

Nigeria to extend gas pipeline to Ivory coast
Energy

Nigeria to extend gas pipeline to Ivory coast

The Nigerian National Petroleum Corporation (NNPC) has said the West African Gas Pipeline (WAGP) would be extended from Ghana to Ivory Coast as part of the Federal Government West African energy integration policy. The Group Managing Director of the NNPC, Dr. Maikanti Baru, made this disclosure on Wednesday while receiving […]

Chevron posts USD1.3 billion net income for Q2
Energy

Chevron posts USD1.3 billion net income for Q2

Chevron Corporation is reporting net income of USD1.5 billion ($0.77 per share – diluted) for second quarter 2017, compared with a loss of $1.5 billion ($0.78 per share – diluted) in the second quarter of 2016. According to the result, there were impairments and other non-cash charges totaling $430 million, partially offset by gains on asset sales of $160 […]