One day – One News
Shell proposes $1.8 billion cash to acquire Cove Since Shell and PTTEP from Thailand were competing to take over Cove Energy (Cove), Shell had made a first offer based on $0.195 per share, representing $1.57 billion capital expenditure for the acquisition. Then PTTEP submitted a $1.78 billion cash counter offer valued on $0.220 per share. Then Shell came back with a proposal based on $1.8 […]
MoU for 1 million t/y Paraxylene extension in Yeosu Showa Shell Sekiyu K. K. (Showa Shell) from Japan, GS Caltex from South Korea, and Taiyo Oil from Japan signed a Memorandum of Understanding (MoU) for new Paraxylene (PX) project at GS Caltex Petrochemical complex in Yeosu, South Korea. In the downstream of its refinery, GS […]
Jacobs Engineering won the EPCM Services Contract SABIC has awarded a contract to Jacobs Engineering Group to provide engineering, procurement and construction management (EPCM) services to upgrade an Olefins 4 plant at its petrochemical production complex in Geleen, Netherlands. Jacobs said it will carry out the work from its office in Meerssen, Netherlands, which is […]
After ExxonMobil and ENI, Rosneft extends its domino strategy to Statoil Rosneft and Statoil signed a cooperation agreement to jointly explore offshore and onshore fields in the Russian sections The cooperation agreement also provides Rosneft with an opportunity to acquire interests in selected Statoil exploration licences and assets in the North Sea as well as […]
Toyo and SOG create TS Participações S.A. Last month MODEC TOYO Offshore Production Systems Pte. Ltd. (MTOPS), a joint company created by Toyo Engineering Corporation (Toyo) and MODEC, Inc. (MODEC) established in Singapore, has been awarded a EPC contract to install topsides units for a Floating Production, Storage and Offloading (FPSO) system from Dutch company of Cernambi Sul MV24 […]
Russian tax incentive unlock foreign investments The key factor that prompted the companies to sign the agreement was the steps taken by the Government of the Russian Federation to introduce tax incentives for offshore production, including cancelling export duties and introducing a reduced Mineral Extraction Tax rate of 5-15% depending on project complexity. The Russian Government also offered guarantees that the favourable tax regime will remain in […]
Tsusho takes 32.5% of Encana’s Coalbed Methane Toyota Tsusho Corporation (Tsusho) has reached an agreement with Encana Corporation (Encana), Canada‘s largest natural gas producer, to acquire a 32.5% interest in a coalbed methane (CBM) project. Tsusho will pay C$602 million to acquire the interest and in capital expenditure over the coming seven years. Tsusho has […]
Framo Engineering is now part of Schlumberger to create a subsea process and boosting system capable of meeting the demands of the subsea environment and changing flow conditions over the life of a field. The Gullfaks Field is located in the central part of the East Shetland Basin in the Northern Norwegian North Sea and […]
