capital expenditure
Definition: The “NOC” acronym means “National Oil Companies” and refers to the local oil producing companies owned by their respective government. Therefore there are nearly as many “NOCs” as countries in the world, but the most famous ones are: Saudi Aramco, Gazprom, Statoil, Petrochina, Sinopec, Petrobras, ADNOC, Qatar Petroleum, etc…. Comment: Historically the “NOCs” used […]
Technip, in partnership with Daewoo Shipbuilding & Marine Engineering (DSME), was awarded by Dong E&P and Bayerngas, a contract for the HEJRE project development, offshore Denmark, at a water depth of 70 meters. Dong owns 60% of the Hejre field and Bayerngas 40%. Estimated to cost $2.18 billion, this contract covers engineering, procurement, fabrication, hook-up, […]
Well supported by its financial performances and the sustainable price of the oil, Statoil has announced on the last weeks a series of projects. Snorre A Platform revamping Statoil awarded Aker Solutions the $179 million contract for the revamping and up grading of the drilling equipment and system on the Sorre A platform to extend […]
On February 27th the gas price in North America reached a new low at $2.57 per million btu with all chances to stay below $3 for a while. In dividing the gas price by four since its peak at $13.5 per million btu in July 2008, the massive development of the shale gas is not […]
TNK-BP is planning to invest $4 billion during the next three years to develop Arctic oil and gas fields. The intention is to compensate the natural decline of production from the aged Russian fields. “TNK-BP is developing four oil fields in Northern Russia’s Yamal region with first oil planned in 2016 and production to reach […]
According to the last financial study released by Al-Rajhi Capital, the growth forecast of the Saudi Arabian petrochemical companies is healthy, despite lingering uncertainties in the global economies. Because of their diversified activities, companies like SABIC or TASNEE should not be impacted by the feedstock costs increase in 2013 as could be the “pure-play producers”. […]
For 2011, Shell reported $470 billion revenues and $37 billion in free cash flow, well supported by an average price of the barrel over $100 and a shift in the gas market toward countries with higher added value. Today the gas business represents more than 50% of Shell revenues. With a cash flow expected to […]
INPEX has established a joint venture with Total, a France-based firm, with the parties holding 76% and 24% shares, respectively. They announced on January 13th 2012 that they have taken the final investment decision for the Ichthys liquefied natural gas (LNG) project in Australia. The project budget jumped by 70%, from US$20 billion dollars to […]
