Business news

Coatings contractor Socotherm sees its participation in the offshore oil and gas industry expand after Valle Silencioso SA increases its stake.

Royal Dutch Shell and Chevron Corp. have won the right to develop the Ukrainian shale gas fields, Yuzivska and Olesska.

Concho has announced that it has agreed to a deal to purchase US$ 1 billion worth of Permian assets from Three Rivers Operating Company.

Marathon Oil has agreed to acquire Paloma Partners II LLC for US$ 750 million in cash as the company is expanding its activities in the Eagle Ford Shale where Paloma holds significant acreage.

An independent assessment of Original Gas-in-Place for Dart Energy’s shale portfolio has estimated it at a top level of 143 trillion ft3, with a best estimate of 76 trillion ft3.

GL Noble Denton, National Grid and ALH Systems Ltd have, in partnership, won the Utilities category at the 2012 Pipeline Industries Guild Awards.

As energy supplies around the globe look less reliable, Russia is seizing the opportunities to strengthen its position as a major oil and gas exporter. Dr Hooman Peimani reports.

Shell has reported that it has uncovered two further onshore oil pipeline leaks in Nigeria’s Delta, soon after the company declared force majeure on crude exports due to theft-related outages.

KBR has won the contract for the construction of a 200 million standard ft3/d sweet natural gas processing plant near Fort St. John, British Columbia, Canada.

The EIC predicts that Iraq should see huge levels of investment over the next five years as the security situation improves.

Sumitomo Corporation and Tokyo Gas Co., Ltd. have started negotiation with Dominion to conclude a final terminal service (TSA) agreement with Dominion to export shale derived LNG from the Cove Point LNG terminal.

India reports great progress in TAPI natural gas pipeline project, which has seen participating countries debating over transit prices and volume.

The Sierra Club, a leading environmentalist group in North America, has filed a formal protest with the US DOE about Cameron LNG’s proposals to export LNG from its Lake Charles facility. The group has previously opposed four other LNG export plants.

COOEC has awarded Technip a pipeline installation contract for the Liwan 3-1 shallow water project, located in the Pearl River Mouth Basin, China Sea, 300 km South of Hong Kong, China.

Egypt has terminated it’s gas supply contract with Israel, EMG has called the attempt unlawful and is seeking arbitration.