News / International
Massive Earnings Loss Makes BP Unattractive to Acquire
BP is less likely to be acquired following its $18.7 billion settlement over the 2010 Macondo oil spill, Chief Executive Officer Bob Dudley said on July 28.
Conflict in Libya Costs BP $600m
Libya has become a major headache for European oil companies as a four-year conflict forced BP to join Total in writing off millions of dollars in investments in the North African country.
GE Buys $2.5bn Worth of Oil from Africa
General Electric Co. booked $2.5 billion of orders from sub-Saharan Africa in the past 11 months, including oil and gas equipment for Eni SpA in Ghana and locomotives for Angola.
Production to Begin Soon in Nigeria’s Aje Field
The Aje shallow-water field offshore Lagos might begin crude oil production before the year runs out following the commencement of drilling on the Aje-5 production well on the Oil Mining Licence 113.
Tullow Manages to Reduce its Losses
Tullow Oil Plc, an Africa-focused energy producer, reported a smaller first-half loss after exploration writedowns shrank.
Italian Green Power Firm Looking Abroad for Projects, Partnering with Eni
Power grid company Terna is looking to develop new business outside Italy by working with oil major Eni and renewable energy group Enel Green Power on power line projects in places like Latin America and Africa.
Saipem Cuts Jobs Amid Q2 Losses
Saipem SpA, Italy’s biggest oil and gas contractor, will cut jobs and exit businesses as writedowns led to an unexpected loss and an earnings target reduction.
Kuwait to Spend $11.5 Bn to Build Middle East’s Largest Refinery
Kuwait National Petroleum Co (KNPC) awarded 3.48 billion dinars ($11.5 billion) worth of contracts on Tuesday to build the al-Zour oil refinery,
