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Tax laws up for the scrap heap in India

August 6, 2021
| Archives

India proposed scrapping a controversial law that taxed companies retrospectively and said it will refund disputed amounts, a move that could potentially settle its multi-billion-dollar tax cases with Cairn Energy and Vodafone. The amendment to the tax law could resolve at least 17 disputes of tax payments amounting to 500 billion rupees ($6.7 billion) or more and will help

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Ghana and Angola sign MoU strengthening economic ties

August 5, 2021
| Archives

Angolan Head of State H.E. President João Lourenco recently conducted a two-day diplomatic visit to Ghana whereby the two nations signed a Memorandum of Understanding (MoU) to increase economic ties through accelerated trade and investment. With Angola interested in leveraging Ghana’s mining and cocoa experience, and Ghana seeking partnerships to expand its oil and gas sector, the

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Caltex rebrands to Astron Energy

August 5, 2021
| Archives

Caltex, one of South Africa’s top five petroleum brands, has announced that it will rebrand itself under the new name Astron Energy, comprising one of the regional industry’s largest ever logistical undertakings. The rebranding of over 850 Caltex-branded service stations in South Africa and Botswana will take place in phases over the next few years in an attempt

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Guyana Gov crude marketing search draws bidders

August 5, 2021
| Archives

Guyana received bids from 15 different companies aiming to market the government’s share of the crude produced off the South American country’s coast, according to Guyana’s National Procurement and Tender Board Administration website on Wednesday. The government re-launched the search last month after a previous tender was discarded. Bids were due on Aug. 3, and companies were asked

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Williams to provide services to Whale development project

August 5, 2021
| Archives

Williams Companies Inc said on Wednesday it had reached an agreement with Shell Offshore Inc and Chevron USA Inc to provide offshore natural gas gathering and crude oil transportation services for the Whale development project. Royal Dutch Shell last month announced plans to develop a new oilfield in the Gulf of Mexico. The Whale development, operated by Shell

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Danfoss completes US $3.3 billion acquisition of Eaton Hydraulics

August 4, 2021
| Archives

Danfoss has officially finalized its US$3.3 billion acquisition of Eaton’s hydraulics business following confirmation of all necessary regulatory approvals and closing conditions The move will see the Danfoss Group grow in size by a third and establish itself as a global leader in mobile and industrial hydraulics.   Mobile hydraulics has been one of Danfoss’ core and most successful businesses for over

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Algerian Petroleum Institute signs training partnership with Senegal

August 4, 2021
| Archives

The Algerian Petroleum Institute (IAP) has signed a partnership agreement in the field of training with the National Institute of Oil and Gas of Senegal (INPG), the Sonatrach group announced in a press release. The convention was initialed last Tuesday at the IAP headquarters in Boumerdès, in the presence of the Senegalese Ambassador to Algeria, Serigne Dieye, said

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Senegal partners with Nigeria for oil sector development

August 4, 2021
| Archives

In a bid to expand regional cooperation and cross-border trade, Nigeria has committed to supporting Senegal in its quest to develop a robust oil and gas industry. The pledge was made by Nigeria’s Minister of State of Petroleum Resources, H.E. Chief Timipre Sylva, in a recent State visit to Nigeria by H.E. Aissatou Sophie Gladima, Minister of

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Noble reports on Q2 with three new contracts and over $1 billion in backlog

August 4, 2021
| Archives

Noble issued their financial results for Q2 and here are the highlights: Signed three new contracts for legacy Pacific Drilling rigs On track to achieve Pacific Drilling synergy target three months early Successful contract startups for three jackups and two floaters Listed on New York Stock Exchange (NYSE: NE) Jackups Over the course of the second quarter, customers elected to exercise options for

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