New York Times Feed
New investment fund, Engota, will begin working internationally within the finance industry to build a portfolio of oil exploration and production assets in the lucrative Nigerian market.
“Nigeria holds some of the richest and lowest cost of production oil deposits in the world. Engota’s indigenous status opens the door to significant opportunities,” said"...Continue Reading >
Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.57 billion in the first quarter of 2013.
Income from continuing operations attributable to Schlumberger, excluding charges and credits, was $1.59 billion—a decrease of 11% sequentially but"...Continue Reading >
Energy Intelligence announced today that Emilio Lozoya Austin, CEO of Petróleos Mexicanos (Pemex), has earned the distinction of his peers as “Petroleum Executive of the Year.” The 2014 award, as selected by top global industry executives, will be presented to Mr. Lozoya on October 29 at an honorary dinner during the 35th Annual Oil & Money Conference in London. Energy Intelligence jointly convenes Oil & Money with the International New York Times.
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The door is open for local and international companies to submit bids to the Energy Ministry to develop the Risheh gas field near the border with Iraq after British Petroleum ended its project there, according to a senior official.
“Any company working in the field of gas exploration can apply to develop the field, especially since BP withdrew from the project and is expected to fully end operations in Jordan in June,” Energy Minister Mohammad Hamed"......Continue Reading >
Newmont Mining Corporation (NYSE: NEM) today published its 2013 sustainability report, Beyond the Mine. The report reflects Newmont’s reporting obligations as a founding member of the International Council of Mining and Metals (ICMM) as well as its commitments under the Voluntary Principles on Security and Human Rights (VPSHR), the United Nations Global Compact and the Global Sullivan Principles. Finally, the report complies with the Global Reporting Initiative’s (GRI) international standard for sustainability reporting.
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Archer Daniels Midland Company (NYSE: ADM) today announced three significant actions in the company’s ongoing portfolio management: an agreement to sell the company’s South American fertilizer business, pursuit of the sale of the company’s chocolate business, and the acquisition of the remaining stake of Alfred C. Toepfer International GmbH.
“We are"...Continue Reading >
Saudi Arabian Chevron Inc. announced today that an integral project entered the construction phase, as leaders from Wafra Joint Operations, the Kuwait Gulf Oil Company, Saudi Arabian Chevron and key business partners supporting the project gathered for a ceremonial groundbreaking on the Main Gathering Center (MGC) Revamp Project.
“This investment is a commitment to"...Continue Reading >
A series of multibillion projects to generate oil from oil shale and build oil shale-fuelled electricity plants will start operation in the next few years, relieving the country’s rising energy bill that accounts for 20 per cent of the country’s gross domestic product, officials said Monday.
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North America Western Asia Holdings (NAWAH), U.S. Steel Tubular Products, a subsidiary of United States Steel Corporation, and MRC Global Inc. have announced an alliance to bring critical oil well equipment into the natural resources-rich region of southern Iraq. The consortium will serve an international lineup of leading oil and gas companies charged with developing Iraq’s giant oil and gas fields.
This"...Continue Reading >
The Jordan Phosphate Mines Company (JPMC) signed a Memorandum of Understanding with Karak International Oil (KIO) on Monday to facilitate the purchase of KIO's products, namely sulphur, fuel, and mined phosphate.
The MoU was signed by Chief Executive Officer of the JPMC, Shafiq Ashkar, and the Chairman of the KIO, Munther Akroush, in the presence of the JPMC Chairman, Amer Majali.
Under the deal, the JPMC will purchase sulphur"...