Azerbaijan’s ACG field is on the cusp of a significant transformation following the signing of a Non-Associated Gas (NAG) agreement. A consortium of energy giants, including ONGC Videsh, bp, the State Oil Company of Azerbaijan (SOCAR), and others, has added a crucial new addendum to the existing Production Sharing Agreement (PSA) for the Azeri-Chirag-Deepwater Gunashli […]
Aegis Logistics said that it will create a joint venture (JV) called Aegis Vopak Terminals Ltd (AVTL) with Dutch tank storage company Royal Vopak for developing LPG and chemical terminals in India. Aegis Vopak Terminals will operate a network of terminals that are presently located in five ports along India’s east and west coasts. The […]
BHP has started production from the South Flank iron ore project in Australia, which has been developed with an investment of $3.6 billion. The mining giant had achieved the first ore from the central Pilbara region project, within three years of approving it. BHP, which has an 85% stake in the iron ore project, is […]
Verus Petroleum acquisition of Cieco : Scottish oil and gas company Verus Petroleum, has signed a $400 million Sale & Purchase Agreement (SPA) with Japanese commodity trading house Itochu to acquire its subsidiary Cieco Exploration & Production (UK). Verus Petroleum acquisition of Cieco will see the Scottish oil and gas company get a stake of […]
Mining industry news : Australian mining company BHP is all set to move ahead with the development of the South Flank iron ore project in the central Pilbara region in Western Australia after its board approved its share of $2.9 billion in capital expenditure. The total South Flank iron ore project cost is expected to […]