Market Leadership
Pemex awards Litoral A series of offshore platforms In October 2012, the national oil company Petroleos Mexicanos (Pemex) selected Dragados Offshore from Spain for the Compresion Alta Litoral A (CA Litoral A) project. This CA Litoral A project is part of the Litoral A Pemex‘s program to develop recent oil discoveries in the shallow waters of […]
Saudi Aramco to require “In-Kingdom EPC” contracts After implementing the General Engineering Services Plus (GES+) initiative at the design phase of the projects, Saudi Aramco is planning to enforce its requirements for the Saudi localization at the execution phase with the “In-Kingdom EPC” contracts. For some years, Saudi Arabia is investigating all the opportunities to use […]
A new force in Exploration and Production On September 2011, Genel Energy (Genel) appeared as a new company resulting from the merger between Vallares PLC and Genel Energy International with a new Chief Executive Officer named Tony Hayward, the former CEO of BP. Immediately, Genel Energy got registered in Jersey, listed at the London Stock […]
Samsung submitted the lowest bid on Luberef refinery Saudi Aramco and Jadwa Investment are reviewing the final technical and commercial offers submitted by the engineering companies for the engineering, procurement and construction (EPC) contracts of the Luberef Yanbu Lube Oil Refinery Expansion. Estimated to require $1 billion capital expenditure, this Luberef Yanbu Lube Oil Refinery Expansion project was tendered […]
World Bank and European Bank for Reconstruction & Development to provide funding to reduce flared gas The World Bank and the European Bank for Reconstruction and Development (EBRD) are calling the oil companies and the producing countries to cut the gas flaring by 30% in the next five years. According to 2011 estimations, about 140 […]
To be a world-leading Energy and Chemical Company China Petrochemical Corporation (Sinopec Group) was established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group is a state wholly owned company with Headquartered in Beijing, China and a registered capital of RMB 182 billion ($30 billion). As a state-owned company, Sinopec Group […]
Genel to export Kurdish Iraq natural gas to Turkey Genel Energy is considering a $2.5 billion gas central processing facility to turn Miran gas field into production. The Miran natural gas field is located in the Kurdistan Region in Iraq and had been awarded through a production sharing contract (PSC) by the Kurdistan Regional Government (KRG) […]
Solvay and Sibur to produce oil field process chemicals The Russian petrochemical company SIBUR and the Belgium chemical group Solvay signed Heads of agreement in London to produce jointly surfactants and oil field process chemicals. According to the agreement, SIBUR and Solvay Novecare will create a 50/50 joint venture called RusPAV. The joint venture RusPAV should […]
