Saipem scoops $900-million job at Zohr field WorldOil – Saipem and Petrobel have finalized offshore contract variations worth $900 million for Engineering, Procurement, Construction and Installation (EPCI) activities in relation to the “Optimized Ramp Up” phase of the giant Zohr field development project, situated in the Mediterranean Sea off the Egyptian coast. Petrobel is a …
ExxonMobil hits it big in second quarter U.S. oil giant ExxonMobil doubled its profit during this year’s second quarter as oil and gas realizations increased and refining margins improved. ExxonMobil on Friday posted earnings of $3.4 billion for the second quarter 2017, compared with $1.7 billion a year earlier. Revenues for the second quarter 2017 rose to $62.9 …
Canadian traders scramble for heavy crude due to OPEC cuts As seen in Reuters Canada’s struggling oil market has found something of a lifeline as traders scramble for heavy crude due to OPEC production cuts and sinking Latin American output. Output has fallen in Organization of the Petroleum Exporting Countries and non-OPEC Latin American countries …
Canadian traders scramble for heavy crude due to OPEC cuts Read More »
FG adopts Dangote’s new refinery to conserve foreign exchange The Federal Government has adopted the $11billion Dangote refinery, under its new National Petroleum Policy in order to add value to crude oil, reduce high dependence on imported petroleum products and conserve foreign exchange for other developmental projects reports Vanguard Consequently, the Minister of State for …
FG adopts Dangote’s new refinery to conserve foreign exchange Read More »