Petrofac Limited sells Petrofac GSA Holdings to Ithaca Energy UK

Petrofac Limited sells Petrofac GSA Holdings to Ithaca Energy UK Petrofac Limited has announced that it signed an agreement to sell Petrofac GSA Holdings Limited to Ithaca Energy (UK) Limited for a total consideration of up to $292 million. Petrofac GSA Holdings Limited owns Petrofac’s 20% interest in the Greater Stella Area development and its …

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Saudi Arabia grants Aramco licence to exploit its hydrocarbon reserve

WorldOil -Saudi Arabia grants Aramco licence to exploit its hydrocarbon reserve Saudi Arabia has granted its state-owned oil company a 40-year concession to exploit the kingdom’s hydrocarbon reserves as part of Aramco’s preparation for a potential initial public offering, a person familiar with the matter said. The pact replaces norms dating in some cases from …

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Oando Plc to boost crude output in 2019 after curbing debt

Oando Plc to boost crude output in 2019 after curbing debt Oando Plc is looking to boost crude output from next year as the Nigerian producer breaks the back of a $2.5 billion debt burden built up through the 2014 acquisition of oil and gas assets from U.S. giant ConocoPhillips reports WorldOil The borrowings will …

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