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The Kuwait Oil Company (KOC) has awarded Saipem an onshore engineering and construction contract worth an estimated US$850 million.
The scope of work includes the construction of a system of pipelines of varying diameters, approximately 450 km in length, for the transportation of crude oil and gas from various KOC South Tank Farm manifolds to the new Al Zour refinery on the coast of the Arabian Gulf.
The project also includes the development of a network for the transportation of the refined ...Continue Reading ?
The $11 billion Nord Stream 2 project to add a second Russian trans-Baltic gas export pipeline will be implemented regardless of how new U.S. sanctions are interpreted, an official at Gazprom told a conference call.
Gazprom’s officials also said during a call with investors that the newly imposed sanctions by the United States did not bar the company from borrowing abroad.
The United States has introduced several rounds of sanctions against Russian companies and individuals for Moscow’s involvement in the Ukraine crisis ...Continue Reading ?
The Federal Energy Regulatory Commission has given the go-ahead to the Rover natural gas pipeline project’s Phase 1A, which will transport gas from Cadiz to the Midwest Hub, near Defiance in Ohio. The hub will serve as a distribution center for 68 percent of the gas Rover transports across the States.
The US$4.2-billion pipeline, still under construction, will eventually have a daily capacity of 3.25 billion cu ft from the Marcellus and Utica shale plays. While the bulk of the gas ...Continue Reading ?
The Federal Energy Regulatory Commission has given the go-ahead for construction of the controversial $2 billion, 257-mile NEXUS Gas Transmission pipeline project that will go through northwest Ohio.
The $2 billion project is designed to carry 1.5 billion cubic feet of gas per day from the Utica and Marcellus shale fields in Appalachia across northern Ohio and into Michigan and Ontario, Canada was given certificates of approval Friday.
DTE Energy and Spectra Energy, which merged this year with Enbridge, a Canadian company, ...Continue Reading ?
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 ...Continue Reading ?
Standard Bank Group Ltd.’s Ugandan unit plans to raise $3 billion for a crude pipeline by the second half of next year as the East African country prepares to start oil production by 2020.
Stanbic Bank Uganda was appointed alongside Japan’s Sumitomo Mitsui Banking Corp. as joint financial adviser for the 1,445-kilometer (898-mile) pipeline, Patrick Mweheire, the chief executive officer of the Kampala, Uganda-based business, said in an interview on Tuesday. The companies will explore raising bank debt or loans from ...Continue Reading ?
The government of British Columbia, Canada’s westernmost province, vowed Thursday to use every legal option to stop construction of Kinder Morgan Inc.’s planned expansion of a pipeline connecting the Alberta oil sands with the Pacific Coast.
Under new, left-leaning leadership and citing risks to its environment and food supply, the province began to detail its plan to halt the energy project that Prime Minister Justin Trudeau approved late last year.
The development sets up another showdown over the need to get Canada’s ...Continue Reading ?