Petrofac, STEP Ink $1.5B EPC Contract in Algeria
Petrofac and STEP Polymers SPA, which is a 100% subsidiary of Sonatrach that works for petrochemical complex in the Arzew Industrial Zone in Algeria, have entered into a definitive agreement.
News / International
KSA Energy Minister: OPEC+ Working Against ‘Uncertainities and Sentiment’
Saudi Arabia's energy minister Prince Abdulaziz bin Salman that the most recent OPEC+ deal included fundamental reforms but also aimed to combat "uncertainties and sentiment" in the market,
Aramco Expected to Provide Complete Oil Volumes to Some Asian Refiners in July
Despite Saudi Arabia’s announcement of cutting oil output from 10 million barrels per day (bbl/d) to 9 million bbl/d in July, Aramco said it will send full nominated volumes of crude oil to number of North Asian customers in July, according to several sources with knowledge on the matter,
Chevron to Invest $500M in Argentina Vaca Muerta Shale Area
Chevron, the U.S.-based oil company, will start $500 investment to develop the Trapial block before July in western Neuquen province, Argentina's economy ministry announced after a meeting between Economy Minister Sergio Massa and company officials, Reuters added.
Iraq to Pay $2.76B in Gas, Electricity Debt to Iran
After securing a sanctions waiver from the United States, Iraq agreed to pay Iran $2.76 billion in gas and electricity debt, a senior official in the Iraqi foreign ministry said, Reuters added.
Leak Pauses Unit at Shell’s Pernis Oil Refinery in Rotterdam
A unit of Shell's Pernis oil refinery in Rotterdam has been shut down due to an unidentified leak, Reuters reported referencing a company statement.
Eni, Libya Ink MoU to Reduce Emissions, Accelerate Energy Transition
Eni, the main international gas producer in Libya, inked a memorandum of understanding (MoU) with Libya to study and identify opportunities to reduce greenhouse gas emissions and develop sustainable energy in the country.
ADNOC Drilling Acquires Two New Jack-Up Rigs
ADNOC Drilling Company has inked an agreement to acquire two premium high-specification Gusto MSC CJ46 design offshore jack-up drilling units (the “rigs”). The $220 million-rigs will be brought into the waters off Abu Dhabi, where they will start producing revenue in the fourth quarter of 2023.
Shell to Exit European Home Retail Energy Businesses
Shell announced that it will exit home retail energy businesses in Britain , Germany, and Netherlands due to “tough market conditions” stated Wael Sawan, Shell’s CEO, Reuters reported.
Chevron Produces First Gas from Gorgon Stage 2 Development Project
Chevron has begun to produce first Gas from the Gorgon Stage 2 development project off the coast of Western Australia, the project of which Chevron operates and owns 47% of it, Reuters reported.
