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Month: June 2019

Death toll rises at Glencore mine in Congo after collapse

June 28, 2019
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The number of artisanal miners killed by a landslide at a copper and cobalt mine run by Glencore in Congo rose to 43 on Friday and officials said the army would deploy at the mine as the search for more victims continued. Thursday’s accident occurred in the KOV open-pit mine at the Kamoto Copper Company (KCC) concession near

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Oil and Gas Headcount Up 17% Down Under

June 27, 2019
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Recent employment figures from the Australian Bureau of Statistics (ABS) show an increase in employment in Australia’s oil and gas industry, fuelled by renewed growth in the sector. The ABS employment figures for the oil and gas extraction industry showed 3,800 new jobs were created since February 2019, equating to about a 17 per cent increase. APPEA Chief Executive,

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Saudi Aramco signs 12 agreements worth billions of dollars

June 27, 2019
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Saudi Aramco and its affiliates signed 12 agreements with major South Korean companies to reinforce relationships with South Korea, expand international operations, and support the region’s energy security with the expansion of Arabian crude oil supply to Asian markets. Commenting on the agreements, Saudi Aramco President and CEO, Amin H. Nasser, said: “Only a few decades ago, Korean

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ExxonMobil and Total grab two blocks offshore Crete

June 27, 2019
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Greece on Thursday awarded licenses to ExxonMobil and Total to search for hydrocarbons off the island of Crete, marking the country’s first major foray into an oil and gas search in the region. The companies, in consortium with Hellenic Petroleum, have an eight-year research and exploitation license in two offshore blocks lying south and south-west of Crete. “Within two

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Dolphin declares bankruptcy with $1 bln debt

June 26, 2019
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Norwegian oil and gas rig operator Dolphin Drilling ASA said it would file for bankruptcy on Wednesday after failing to reach a deal with creditors, falling victim to a prolonged downturn in the oil services sector. Formerly known as Fred. Olsen Energy, Dolphin had debt of just over $1 billion at the end of 2018 and a net

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Maersk Drilling secures contracts for Maersk Valiant in Mexico

June 25, 2019
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Maersk Drilling has secured contracts for a two-well project for the drillship Maersk Valiant with Repsol Exploración Mexico, S.A. de C.V. for work in Block 10 and 29 offshore Mexico in the Gulf of Mexico. The contracts have an expected duration of 138 days and are set to commence in March 2020. In addition to the firm

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Petrobras hands over $690.8 million to Vantage

June 24, 2019
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Vantage Drilling International (“Vantage†or the “Companyâ€) announced that Petrobras Venezuela Investments & Services, BV (“PVISâ€), a subsidiary of Petroleo Brasileiro S.A (“Petrobrasâ€), entered into an agreement with Vantage Deepwater Company (“VDEEPâ€), a wholly-owned subsidiary of Vantage, pursuant to which PVIS paid VDEEP approximately $690.8 million to satisfy the previously rendered arbitration award and related U.S. judgment

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ADES lands two year contract for the Admarine IV

June 24, 2019
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ADES International Holding won a two-year contract for its ADMARINE IV offshore jack-up rig in Egypt, and has signed a one-year contract extension for its onshore rig RIG 828 in Algeria. The ADMARINE IV contract was awarded by a leading Egyptian energy company through tendering and has a term of an initial one-year engagement, with an option to

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