Business and Finance

  • TotalEnergies signs agreements for development of Iraq's natural resources

    PROJECTS

    TotalEnergies sells its non-operated interest in block 14 in Angola

    TotalEnergies has signed an agreement together with Inpex to sell the company Angola Block 14 B.V. to the Angolan company Somoil, with the transaction subject to the approval of Angolan authorities. Angola B... more

  • bp and NYK Line to collaborate on solutions to help decarbonise shipping sector

    PROJECTS

    bp and NYK Line to collaborate on solutions to help decarbonise shipping sector

    bp and Japanese shipping company NYK Line have signed a memorandum of understanding (MoU) to collaborate on future fuels and transportation solutions to help industrial sectors, including shipping, decarbonise.... more

  • Empowering and advocating for culturally diverse women in the workplace

    PROJECTS

    Empowering and advocating for culturally diverse women in the workplace

    A new executive program targeting women from culturally and linguistically diverse (CALD) backgrounds, is aiming to break down barriers and address inequalities experienced by women in the workplace. Monash ... more

  • PROJECTS

    IOG inks gas sales agreement with GM&T

    IOG plc has announced the execution of a gas sales agreement (GSA) with Gazprom Marketing & Trading Limited (GM&T). The news follows a competitive offtake process involving more than 10 bidders over rec... more

  • TotalEnergies sells its non-operated interest in block 14 in Angola
    24 Jan, 2022
  • bp and NYK Line to collaborate on solutions to help decarbonise shipping sector
    15 Sep, 2021
  • Empowering and advocating for culturally diverse women in the workplace
    13 Aug, 2021
  • IOG inks gas sales agreement with GM&T
    30 Jul, 2021

Eni strengthens presence in Vietnam through Block 115 acquisition

13 Apr, 2021
Eni, through its affiliate Eni Vietnam, has completed the acquisition from Krisenergy (Vietnam 115) Ltd. of a 100 per cent participating interest and the operatorship in Block 115/09, offshore central Vietnam. The area is adjacent to Block 114 where the operator Eni Vietnam and its partner Essar Exploration and Production Limited have recently announced the Ken Bau gas and condensates discovery currently under appraisal. The new acreage also borders with Block 116, also operated by Eni Vietnam with a 100 per cent participating interest. The block covers an area of 7,382 square kilometres, with a water depth ranging from 90…

NBIM makes first investment in unlisted renewable energy infrastructure

09 Apr, 2021
Norwegian oil fund, Norges Bank Investment Management (NBIM), has signed an agreement to acquire a 50 per cent interest in Ørsted’s 752 megawatt Borssele 1 & 2 offshore wind farm located in the Netherlands. The agreement was signed on 7 April 2021, with completion expected in the second or third quarter of 2021. NBIM will pay 1,375 million euros for its 50 per cent interest in the offshore wind farm. No external debt financing will be involved in the transaction. Ørsted will remain co-owner and operator of the project, which is expected to produce green energy equivalent to the annual…

Chevron and Hokkaido Gas sign LNG agreement

08 Apr, 2021
Chevron Corporation’s wholly-owned subsidiary Chevron U.S.A. Inc. (Singapore Branch) (CUSA) has signed a binding Sale and Purchase Agreement (SPA) with Hokkaido Gas Co., Ltd. for the delivery of liquefied natural gas (LNG) from Chevron’s global LNG portfolio to the Hokkaido area. Under the agreement, CUSA will supply Hokkaido Gas with about a half-million tons of LNG over a period of five years starting April 2022. John Kuehn, President of Chevron Global Gas, a division of CUSA, said that the company is delighted to design and execute an SPA with Hokkaido Gas that will bring Chevron LNG directly to Hokkaido, a key growth area. “It broadens our customer base in Japan,…

Qatar Petroleum enters two offshore exploration blocks in Namibia

07 Apr, 2021
Qatar Petroleum has entered into an agreement with Shell to become a partner in two exploration blocks offshore of the Republic of Namibia. Under the terms of the agreement, which is subject to customary approvals, Qatar Petroleum will hold a 45 per cent participating interest in the PEL 39 exploration license pertaining to Block 2913A and Block 2914B, while Shell (the Operator) will hold a 45 per cent interest, and the National Petroleum Corporation of Namibia (NAMCOR) will hold the remaining 10 per cent interest. In commenting on the agreement, His Excellency Saad Sherida Al-Kaabi, the Minister of State for…

Strike moves to integrate gas, manufacturing and renewables

07 Apr, 2021
Strike Energy Limited (Strike) has signed a non-binding term sheet to acquire 100 per cent of the existing geothermal rights of the Perth Basin via the acquisition of Mid West Geothermal Power Pty Ltd (MWGP). Strike’s CEO and Managing Director, Stuart Nicholls, said that between Strike’s gas resources and potential future geothermal power, the Perth Basin could be a supplier of low-cost and low to zero-carbon energy into WA for more than 50 years. “As one of the leading experts of the Perth Basin’s Permian sandstones Strike has recognised the renewable energy potential of the area which it believes could…

Insufficient financial reporting may lead to underestimation of environmental liabilities

01 Apr, 2021
European listed companies in the energy and mining sector provide, to say the least, sparse information on future environmental costs in their annual reports. Researchers believe that stricter guidelines are required as the lack of information may lead to underestimation of environmental liabilities, resulting in that future generations may have to bear the burden of clean-up costs. Mari Paananen, associate professor of business administration at the School of Business, Economics and Law at the University of Gothenburg, said: “I believe that the future environmental liabilities such as decommissioning costs are often underestimated, and few understand the burden these costs might…

Worley, Morrison join forces to support decommissioning projects in the GoM

31 Mar, 2021
Worley has recently signed a regional master services agreement with Morrison to provide engineering services for decommissioning projects in the Gulf of Mexico. Under the agreement, Worley will be responsible for the engineering services scope of Morrison’s decommissioning projects. Both companies have decades of experience supporting facilities in the Gulf of Mexico. The partnership will deliver specialised decommissioning and asset management services and a ‘one-stop-shop’ for operators of offshore hydrocarbon facilities reaching end of life. The combined offering decreases operating, planning and management costs, while ensuring safe, environmentally-responsible project execution. Global Decommissioning Lead at Worley, John Cox, said that they…