capital expenditure
The $3.6 billion ERC Refinery to move on again The Mostorod Refinery project had been left on hold for more than one year because of the political context in Egypt while Egyptian Refining Company (Takrir) S.A.E. (ERC), a special purpose company established by Citadel Capital, has awarded the engineering, procurement and construction (ECP) contracts to a consortium of […]
BP to invest $15 billion to develop Oman tight gas BP’s Khazzan tight gas project in Block 61 is one of the company’s top five upstream projects globally. BP’s Khazzan project is also the first and largest of its kind in the Middle East. In January 2007 BP signed a major exploration and production sharing agreement with […]
Lukoil awarded $1West Qurna Phase 2 to Samsung Engineering Samsung Engineering officially signed a contract, worth approximately $1 billion, with LUKOIL Mid-East Ltd. (Lukoil) for the development of the West Qurna Phase 2 Contract Area and thereafter to provide assistance to LUKOIL with its carrying out of the commissioning and start up. This engineering contract covers: –Project Management […]
Petrofac won the first Oil Central Processing Facility (CPF) The Gazprom Neft (Gazprom) Badra oil field is located in the Wasit Province at the Southeast of Iraq. The Badra oil field stakeholders are Gazprom, the operator with 30% share, then KOGAS with 22%, Petronas with 15%, TPAO with 7.5% The project will reach its full […]
Two leaders build energy Market Leadership with coal gasification Shenua Group (Shenua), from China, and GE, from USA, create the new GE Shenhua Gasification Technology Company Ltd., a 50-50 joint venture (JV) with Headquarter located in Shanghai, China. The firm will sell industrial gasification technology licenses in China, conduct research to improve cost and performance. The company has registered capital of $6 million. Patents and proceeds obtained by the joint venture will be shared evenly. The cooperation is also part of Sino-US joint efforts to develop clean energy, and gasification is a crucial component of that goal. China and USA hold respectively the first and second biggest […]
AkzoNobel invests $180 million for 50% increase in Frankfurt Chloride and Caustic Soda facilities Caustic Soda is one of the most widely used chemicals in the industry. The increasing requirements in Europe for chlorine and derivatives over the past five years means the current plant is not meeting demand. Caustic soda is a solution of […]
After Kitimat LNG, LNG Canada will boost LNG Export Shell Canada Limited, Korea Gas Corporation (KOGAS), Mitsubishi Corporation (MC), and PetroChina Company Limited (PetroChina or CNPC) today announced they are jointly developing a proposed liquefied natural gas (LNG) export facility near Kitimat, British Columbia,Canada. The demand for natural gas, the cleanest burning fossil fuel, remains […]
Apache, EOG and Encana lead British Columbia gas development for export The Kitimat LNG project started in 2006 with the signature of a partnership agreement with the Haisla First Nations It took a decisive step forward in 2010 when Apache purchased a majority interest in the proposed project. Today Kitimat LNG is owned: – 40% […]
