Contribution By Saif Bepari
December 22, 2018
The company made the decision following its review of Lava Jato corruption case currently under investigation by federal prosecutors. The corruption scheme may have favored Vitol inside the field of oil & fuel trading for five years at the very least. Petróleo Brasileiro S.A. (Petrobras), …
EnergyAustralia, Genex ink long-term agreement for 250MW hydro project
December 21, 2018
Genex Power has reportedly announced that it has entered into a non-binding agreement with Melbourne based EnergyAustralia for a long-term energy storage service agreement for Genex’s Kidston pumped hydro project as well as possibly an equity investment in the project’s second stage. Apparently, the agreement …
Shell secures 49% stake in Asia-based renewables firm Cleantech Solar
December 20, 2018
Royal Dutch Shell Plc has reportedly acquired a 49 percent stake in a solar energy systems developer, Cleantech Solar, which is focused on India and Southeast Asian markets. The acquisition is allegedly said to be worth USD 100 million, which could be the first investment …
Sonangol and BP team up to develop the Platina field offshore Angola
December 19, 2018
Angola-based Sonangol has recently made it to the headlines for entering into an agreement with BP Plc, the London-headquartered oil & gas industry major, for working towards an FID (final investment decision) on the Platina field development in deep-water Block 18, offshore Angola. Reportedly, the …
Uniper inks LNG transportation agreement with Mitsui OSK Lines
December 18, 2018
Uniper, the global energy supply company, has reportedly entered into agreements with the Japanese shipping company Mitsui O.S.K. Lines to handle transport deliveries of liquefied natural gas (LNG) into Germany. Lately, there have been intense discussions about LNG in Germany, as the regional government aims …
Shell in talks to buy Endeavor Energy as the company price tag drops
December 18, 2018
Chevron, ExxonMobil, and ConocoPhillips had also expressed their interest to buy Endeavour, however, their interests have now waned. Shell is conducting negotiation talks to acquire the company for approximately $8 billion. Royal Dutch Shell plc. (Shell), a renowned British-Dutch oil & gas firm, is reportedly …
Hitachi to buy ABB’s power grid business in an estimated $7 bn deal
December 17, 2018
Japanese conglomerate Hitachi is reportedly in talks with the Swiss engineering group ABB to acquire its power grid division for about USD 7 billion for an initial 50% stake in the company. Reportedly, the two companies, which were previously in talks announced that they will …
Chrysaor to purchase California-based Chevron’s North Sea assets
December 15, 2018
Chrysaor, a private equity-backed oil company has reportedly hired advisers before initiating talks to buy Chevron’s gas and oil fields of British North Sea for more than $2.5 billion, stated industry and banking sources. As per reliable sources, Chrysaor has signed up investment banks BMO …