Narendra Modi, the Prime Minister of India, has inaugurated an INR 60 billion ($830 million) propylene derivative petrochemical complex at the BPCL Kochi refinery in Kerala. The propylene derivative petrochemical complex will produce niche petrochemicals such as acrylic acid, oxo-alcohol, and acrylates, that have been traditionally imported in India. As a result, the Modi government […]
Canadian oil and gas companies ARC Resources and Seven Generations Energy have agreed to merge in an all-stock deal worth nearly CAD 8.1 billion ($6.38 billion) with an objective to become a leading producer in the Montney Formation in the country. Apart from the Montney region in Alberta and northeast British Columbia, ARC Resources’ operations […]
EnQuest has signed a deal worth up to $375 million to acquire Suncor Energy UK’s entire stake of 26.69% in the Golden Eagle development in the UK North Sea. As per the terms of the deal, the UK-based oil and gas company will pay an initial consideration of $325 million and a contingent consideration of […]
Reliance Industries has signed a $250 million worth deal to offload its stake in some producing assets in the Appalachian Basin in US held by its fully-owned subsidiary Reliance Marcellus to Delaware-based Northern Oil and Gas. The assets are located in the Marcellus shale play in south-western Pennsylvania, that are currently operated by EQT’s affiliates. […]
Oil and gas giant BP has signed a deal worth $2.6 billion to divest a 20% participating stake in the producing Block 61 in Oman to Thailand-based PTT Exploration and Production Public Company (PTTEP). Upon closing of the deal, BP will continue as operator of the block with a 40% stake. The other partners in […]
The DOF Group has been awarded a long-term contract for the Skandi Kvitsøy offshore supply ship in the North Sea from an undisclosed multinational energy company. The Norwegian supply shipping company did not disclose the value of the charter contract, which will begin in Q1 2021. The contract is for a duration of one year […]
Equinor Energy has secured drilling permit from the Norwegian Petroleum Directorate (NPD) for well 31/11-1 S in production licence 785 S (PL 785 S) in the Norwegian North Sea. The company will drill well 31/11-1 S with the Deepsea Atlantic drilling facility. The wildcat well will be drilled 62 kilometres, south of the Troll field. […]
Petrobras has discovered the presence of hydrocarbons in the CM-411 block in the Campos Basin pre-salt, offshore Brazil, through the drilling of the Urissanê well (1-BRSA-1377-RJS well). The Urissanê well, which is contained in a water depth of 2,950 meters, found oil in reservoirs in the pre-salt section. Petrobras said that it will analyze the […]
Indian Oil Corporation Limited (lndianOil) said that its board has sanctioned the construction of an INR29.3 billion ($400 million) oil refinery at Cauvery Basin, Nagapattinam in Tamil Nadu with a capacity of 9 MMTPA. The oil refinery project will be taken up by IndianOil’s subsidiary – Chennai Petroleum Corporation Limited (CPCL). The CPCL refinery is […]
Italian oil and gas giant Eni has been awarded the P2511 licence, a new production licence in the UK part of the North Sea, during the 32nd UK Offshore Licensing Round. The P2511 licence is spread over an area of around 340 square kilometers. It is located nearly 250km offshore UK in the Northern North […]