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Inspirit Capital buys energy business from Lloyd’s Register

October 9, 2020

Global professional services organization, Lloyd’s Register Group (LR), today announced that it has entered into a definitive agreement to sell its Energy business unit to Inspirit Capital, a London-based investment firm focused on building long-term value. The agreement follows a comprehensive review of LR’s business portfolio and strategic direction. The deal will create a new engineering and technical

Stena picks up a new contract in the Mediterranean with Noble Energy

October 9, 2020

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Stena Drilling are pleased to inform that we have signed a new contract with Noble Energy Mediterranean Ltd for a decommissioning campaign offshore Israel, plus a potential optional scope for Noble Energy International Ltd in Cyprus. StenaForth has been selected for this workscope and shall mobilize to offshore Israel between July and August 2021. There are four (4) wells to decommission and the work is estimated to take

Chevron cuts 15% of workforce, employees are being asked to reapply for positions

October 9, 2020

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Chevron Corp employees worldwide are being asked to reapply for positions as part of a cost-cutting program expected to eliminate up to 15% of its workforce, people familiar with the matter said. The No. 2 U.S. oil producer has begun taking steps to streamline its organization this year to reduce costs and revive declining profits. Oil companies have

Trinity Energy to build $500 million refinery in South Sudan

October 9, 2020

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Leading independent energy company Trinity Energy has announced that it will construct a $500 million oil refinery in South Sudan. Located in Paloch, Upper Nile state, the 40,000-barrel per day refinery will supply the East African region with refined petroleum by-products. U.S. firm Chemex will lead the construction of the refinery over the next three years and will also

Exxon sat at the top for over a century, now Chevron takes over

October 8, 2020

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Chevron Corp. overtook Exxon Mobil Corp. as the largest oil company in America by market value, the first time the Texas-based giant has been dethroned since it began as Standard Oil more than a century ago. The reordering of the oil giants says more about Exxon than Chevron. The company has been struggling to generate enough cash to

Brazilian drilling contractor Petroserv restructures

October 8, 2020

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Tobias Cepelowicz and Roberto Jessourun are no longer heading the Ventura group (Petroserv). After almost five decades, the command of the rig and FPSOs company was transferred to Nelson Oliveira, executive of Geribá Investimentos, in the midst of a broad internal restructuring process, whose focus is to remedy the group’s financial situation. Source: PetroleoHoje

Noble’s Tom Madden bags 6.5 years of additional contract work in Guyana

October 8, 2020

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Noble Corporation plc today announced that the ultra-deepwater drillship Noble Tom Madden has been awarded approximately 6.5 years of additional contract term under the Commercial Enabling Agreement ("CEA") with ExxonMobil for work offshore Guyana. The Noble Tom Madden was previously contracted until mid-February 2024 and the additional term will extend the rig contract to mid-August 2030. The rig day rate will be updated at

India counters China with a proposed $6 billion refinery investment in Myanmar

October 7, 2020

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As China further intensifies its energy cooperation with Myanmar, India is working to ramp up its own presence in the same sector in the strategically located neighbour with a booming energy industry. The joint visit by foreign secretary Harsh Shringla and army chief MM Naravane saw the 2 countries discussing the possibility of building a petroleum refinery in

Nigeria forging ahead with exploration

October 7, 2020

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Nigeria is undertaking noteworthy oil exploration activities in the Benue trough, a major geological structure extending about 1,000 km northeast from the Bight of Benin to Lake Chad. During a one-day virtual workshop for oil and gas media professionals that took place last week, Eng. Alex Tarka, President of the Nigerian Association of Petroleum Explorationists (NAPE), said the activities are being undertaken

Hess sells Shenzi interest to BHP in GOM, moves cash to Guyana

October 7, 2020

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BHP today announced that it has signed a Membership Interest Purchase and Sale Agreement with Hess Corporation (Hess) to acquire an additional 28 per cent working interest in Shenzi, a six-lease development in the deepwater Gulf of Mexico. Shenzi is structured as a joint ownership: BHP (Operator, 44 per cent interest); Hess (28 per cent interest) and

Author: Admin

Inspirit Capital buys energy business from Lloyd’s Register

Stena picks up a new contract in the Mediterranean with Noble Energy

Chevron cuts 15% of workforce, employees are being asked to reapply for positions

Trinity Energy to build $500 million refinery in South Sudan

Exxon sat at the top for over a century, now Chevron takes over

Brazilian drilling contractor Petroserv restructures

Noble’s Tom Madden bags 6.5 years of additional contract work in Guyana

India counters China with a proposed $6 billion refinery investment in Myanmar

Nigeria forging ahead with exploration

Hess sells Shenzi interest to BHP in GOM, moves cash to Guyana

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