Cheniere Energy, Inc. ("Cheniere") (NYSE MKT: LNG) announced today that its subsidiary, Corpus Christi Liquefaction, LLC ("Corpus Christi Liquefaction"), has entered into a liquefied natural gas ("LNG") sale and purchase agreement ("SPA") with EDP Energias de Portugal S.A. ("EDP")
Rosneft and Transneft signed a long-term Tariff Agreement as part of their joint project to construct a pipeline offshoot from the East Siberia – Pacific Ocean (ESPO) trunk pipeline to the Komsomolsk Refinery.
Commercial inflows of oil, gas and condensate have been acquired in four exploration wells on Rosneft’s licensed blocks, which were handed over to Verkhnechonskneftegaz for operational activities on geologic survey, exploration and production of hydrocarbon crude. According to the results of drilling and probes, maximum rates totaled up to 60 cbm of oil per day and up to 150 cbm of gas per day.
BASF and Shell have reached an agreement for BASF to sell its share in the 50-50 joint venture ELLBA Eastern, Jurong Island, Singapore to Shell. The joint venture, which is operated by Shell, produces styrene monomer and propylene oxide. Financial details of the transaction were not disclosed. Closing is planned for December 31, 2014.
Atkins has partnered with the University of Edinburgh to launch an “Introduction to Oil and Gas” module for the University’s Chemical Engineering and Mechanical Engineering Masters degrees.
Oil prices have fallen by around 40% since the middle of the year, and The Economist Intelligence Unit forecasts that lower oil prices will persist. In 2015 we are forecasting that Brent will average $80/barrel, rising slightly to $85/barrel in 2016.
Subsea 7 S.A. (Oslo Børs: SUBC; the Company) has been awarded a contract by the Hess Corporation for installation work in support of the Stampede Project in deepwater US Gulf of Mexico.
Technip has been awarded an approximately €100 million contract by Oil and Natural Gas Corporation Limited (ONGC) to build a 6 MMSCMD (1) onshore terminal at Odalarevu in Andhra Pradesh, India, as part of the Integrated Development of Vashishta (VA) & S1 fields.
Fluor Corporation (NYSE: FLR) has started construction activities on a new delayed coker unit for ExxonMobil Petroleum & Chemical BVBA (ExxonMobil) at its Antwerp, Belgian refinery. Construction on the project, which will expand the refinery’s production capabilities, formally kicked off at a groundbreaking ceremony in October.
RN-Uvatneftegaz, a subsidiary of Rosneft, produced 50 millionth ton of oil since the start of Uvat project implementation in 2004. In 10 years of enterprise performance the annual oil output increased almost by 10 times – from 1.2 mln tons in 2004 to about 10 mln tons, expected by the end of the current year.