Archive for 'Oil and gas'

ExxonMobil enters long-term expansion for Argentina’s Vaca Muerta shale

ExxonMobil Corp. is to launch a Vaca Muerta pilot project that could lead to a staged development of about 300 horizontal wells with an estimated production of 11 million cu m/day once completed.

Argentina’s Neuquen province has approved the company’s 35-year development for Los Toldos I South Block 85 km northwest of Anelo and 175 km northwest of Neuquen City. Initial project investment is $200 million, said ExxonMobil Exploration Argentina SRL (EMEA), which will operate the block with 80% interest. Gas ...

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Total buys Maersk Oil for $4.95 Billion

French oil giant Total SA has agreed to acquire Danish conglomerate A.P. Moeller-Maersk A/S’s oil unit for $4.95 billion, signaling a renewed appetite for deals in the global oil-and-gas industry.

The deal will help Total bolster its position among the world’s largest oil companies, potentially boosting its earnings and cash flow and shoring up its ability to pay dividends.

For Maersk, among the world’s largest shipping companies, the deal streamlines the company as it grapples with historic downturns in both the shipping ...

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Iran agrees to start exporting gas to Iraq for $3.7 billion/year

Iran has announced it is exporting natural gas to Iraq in a deal that will earn the Islamic Republic a reported $3.7 billion per year.

Amir Hossein Zamaninia, the deputy petroleum minister for international affairs in Iran, said that natural gas exports had already begun.

The project is estimated to earn Iran $3.7 billion a year in revenues.

Zamaninia added that Iran will initially send approximately 7 million cubic meters (mcm) per day but it will eventually increase the amount to 35 mcm ...

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Algeria and Italy sign a 10 billion per annum natural gas deal

Algeria has concluded a major gas deal with Italy, supplying 10 billion cubic meters of natural gas annually and thereby strengthening Italy’s (as well as the rest of the EU’s) security of supply. The gas will be shipped through the Transmed pipeline and will meet 16 percent of Italy’s natural gas requirements.

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Duet Group to build western australia’s biggest gas storage facility

Duet Group December 19 said its 100% subsidiary, DBP Development Group, will build the largest gas storage facility, Tubridgi gas storage facility, in Western Australia. The facility will utilise the depleted Tubridgi onshore gas reservoir, about 30 km from Onslow in the north west of Western Australia. It will be near the Chevron-operated Wheatstone and BHP-operated Macedon domestic gas production facilities and will be connected to compressor station 2 on the Dampier to Bunbury gas pipeline via existing gas ...

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New oil discovery in Alaska could reverse decades of decline

A small company just announced that it has made a

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Sunoco Logistics acquires Vitol Crude Platform in Permian Basin

Sunoco Logistics Partners LP has expanded its presence in the Permian Basin production area. The company and the Vitol Group announced Sept. 26 that Sunoco Logistics will acquire Vitol

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Israel approves deepwater Leviathan development

Noble Energy has received approval from Israel

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