Trafigura, Singapore-based commodity trading company, said that it has divested its 10% stake in Russian energy company Vostok Oil to Nord Axis Limited, an independent registered trading company in Hong Kong. The financial terms of the deal were not disclosed by Trafigura, which took up the sal after a review of options. According to Trafigura, […]
Maire Tecnimont has bagged an engineering, procurement, and construction (EPC) contract worth around €1.1 billion from Rosneft for a hydrocracking complex at the Ryazan oil refinery in Russia. The Italian engineering company said that the contract for the vacuum gas oil (VGO) hydrocracking complex was signed by its subsidiaries Tecnimont and MT Russia. Vacuum gas […]
Royal Dutch Shell said that its subsidiary – Shell Deutschland will divest its 37.5% non-operated stake in the PCK oil refinery in Schwedt, Germany (PCK Raffinerie GmbH) to Austria-based Alcmene GmbH, a part of the Liwathon Group. The energy giant did not disclose the financial terms of the transaction. Alcmene is into trading of energy […]
Rosneft said that the Syzran Refinery, which is a part of the refining complex of Rosneft Oil Company in the Samara region in Russia has started production of Residual Marine Low Sulphur (RMLS 40), an environmentally-friendly low-sulphur marine fuel. RMLS 40 is said to be compliant with the IMO requirements, which came into effect since […]
Equinor and Rosneft have sanctioned the first stage of the North Komsomolskoye project, which involves the development of the conventional onshore oil and gas field in Western Siberia in Russia. The first stage of the Russian oil and gas project will see the partner aim to unlock a total estimated recoverable volumes of 250 million […]
Energy acquisition news : Abu Dhabi-based Mubadala Petroleum has forayed into the Shorouk Block, an Egyptian offshore concession in the Mediterranean Sea by completing its acquisition of a stake of 10% for $930 million from Italian energy giant Eni. Through the deal, the Abu Dhabi state-owned Mubadala Investment Company subsidiary, will take part in the […]