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DNO Receives Payment for Crude Deliveries from Tawke

Date : Apr 03, 2020

DNO ASA, the Norwegian oil and gas operator, reported receipt of US$77.2 million as payment for October 2019 crude oil deliveries from the Tawke license in the Kurdistan region of Iraq.

 

The funds for deliveries to the export market, will be shared by DNO and partner Genel Energy plc pro-rata to the companies' interests in the license.

 

Separately, a payment of $5.71 million was also been received net to DNO, representing three percent of gross October 2019 Tawke license revenues, as provided for under the August 2017 receivables settlement agreement with the Kurdistan Regional...

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Saudi Energy Firms Pledge $140mn in fight against Coronavirus

Date : Apr 03, 2020

Joining hands with the government in the fight against the coronavirus pandemic, major Saudi energy companies have contributed a whopping SR525 million to the country’s Health Endowment Fund.

 

The move follows Custodian...

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World Bank offers $1bn for COVID-19 India Emergency

Date : Apr 03, 2020

The World Bank has offered USD one billion to the Indian government for a proposed India COVID-19 emergency response and health systems preparedness project. The four-year project aims to develop the preparedness of India’s...

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NTPC Signs Share Purchase Agreement to Acquire THDC, NEEPCO

Date : Apr 03, 2020

NTPC has executed share purchase agreement for acquisition of the North Eastern Electric Power Corporation (NEEPCO) and THDC India (THDCIL).

 

The company has executed the agreement with the President of India...

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ADNOC Distribution Proposes $700mn Annual Dividend for 2020, 2021

Date : Apr 02, 2020

ADNOC Distribution has proposed an annual dividend of 2.57 billion dirhams ($700 million) for 2020 and 2021, and a shift to its previous policy to a dividend equal to 75 per cent of distributable profits from 2022...

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Oil Slumps to New Lows amid Pandemic-Hit Demand and Rising Supplies

Date : Apr 02, 2020

Oil price slumped to a 17-year low this week as coronavirus lockdowns barrelled through the world’s largest economies, leaving the market overwhelmed by slumping demand and swelling inventories.

 

Brent...

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CCI Approves JV between Adani Green Energy and Total S A

Date : Apr 02, 2020

The Competition Commission of India (CCI) has approved the formation of a joint venture (JV) between Adani Green Energy and Total S A in the business of power generation through solar energy in India.

 

The...

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India Stocks Enough Petrol, Diesel, LPG to Last Lockdown – IOC

Date : Apr 02, 2020

India, the world's third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stocks to last way beyond the three-week nationwide lockdown as all plants and supply locations are fully operational, Indian Oil Corp...

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India: Anil Agarwal for the 1st Time Takes Board Position on Vedanta Ltd

Date : Apr 02, 2020

Metals and mining magnate Anil Agarwal has for the first time taken a board position on his flagship Indian firm, Vedanta Ltd, replacing his brother Navin. Agarwal, 66, who turned a tiny scrap metal business into a mining...

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Saudi Aramco Sees 2019 Profit Fall; Spending Cuts in 2020

Date : Apr 01, 2020

Saudi Aramco announced its full year 2019 results that saw its net profit drop by 21 per cent and see the oil giant cut its 2020 spending to $25-$30 billion, compared to $32.8 billion in 2019.

 

The Saudi...

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STATS Group Strengthens Pipeline Technology Operations in Oman

Date : Apr 03, 2020

STATS Group, a pipeline technology company, has strengthened its presence in Oman with the opening of a new workshop, storage and testing facility in Muscat.   The expansion comes after the pipeline technology specialist secured a two year extension to a master services agreement with Petroleum Development Oman (PDO) to provide pipeline isolation and hydrostatic testing services.   Also in the Middle East, STATS have trebled the size of their operation in Abu Dhabi in a move to a larger workshop and office facility in the Mussafah district.   STATS Group are market leaders in the supply of pressurised pipeline isolation, hot tapp...

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KEC International Wins Orders Worth Rs 1,047 cr

Date : Mar 27, 2020

KEC International, an RPG Group company, has secured orders worth Rs 1,047 crore across its various businesses.

 

The transmission and distribution (T&D) business and SAE Towers have secured orders worth...

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Abu Dhabi Ports Signs Deal with ACT for Bulk Liquid Terminal at Khalifa Port

Date : Mar 27, 2020

Abu Dhabi Ports has signed a strategic agreement with Saudi Arabia-based Arabian Chemical Terminals (ACT) that will see the development of the emirate’s first greenfield commercial bulk liquid storage terminal at its flagship, deep-water...

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KSEB Gets Approval to Set Up 50 MW of Rooftop Solar Projects

Date : Mar 26, 2020

The Kerala State Electricity Regulatory Commission (KSERC) has approved the proposal by Kerala State Electricity Board’s (KSEB) for implementing 50 MW of grid-connected solar rooftop PV projects under the Phase II of MNRE’s RTS...

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DNO to Complete Peshkabir-to-Tawke Gas Capture Project in April 2020

Date : Mar 26, 2020

Genel Energy plc notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has issued an update on licence activity.

 

DNO has stated that it remains committed to completing the $100 million...

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INOX Signs MoU with Shell Energy India to Develop LNG Market

Date : Mar 25, 2020

The INOX India Pvt Ltd (INOX), has signed a Memorandum of Understanding with Shell Energy India Pvt Ltd, a wholly-owned subsidiary of Royal Dutch Shell, for partnering and developing the market for LNG supply by road from Shell’s LNG...

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Jakson Group Signs PPA for Setting up 70 MW Solar Power Plant

Date : Mar 25, 2020

Jakson Group has inked a power purchase agreement (PPA) with Assam Power Distribution Company (APDCL) for 70 MW solar power plant at Amguri, Sivasagar district in Assam.

 

The company had won the bid to...

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NISOC to Launch New Projects to Maintain Oil Production

Date : Mar 25, 2020

The CEO of the National Iranian South Oil Company (NISOC) said the company was about to launch 7 project packages for maintaining and enhancing crude oil production in the fields it operates.

 

NISOC...

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ONGC Starts Pumping Gas Production from KG Block

Date : Mar 24, 2020

Oil and Natural Gas Corp (ONGC) has begun gas production from its most promising block in the Krishna Godavari basin in the Bay of Bengal and is planning a ramp up production in coming weeks, officials said. ONGC's KG-DWN-98/2 or...

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McDermott Breaks Ground on New Fabrication Yard in Ras Al-Khair

Date : Mar 24, 2020

Saudi Aramco and McDermott have reached a significant milestone with McDermott breaking ground on its new fabrication facility within the King Salman International Complex for Maritime Industries and Services in Ras Al-Khair, Saudi Arabia....

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Trina Solar Announces Pilot Line for Mass Production of 500W V Modules

Date : Mar 23, 2020

Trina Solar Co, a global provider of integrated PV modules and smart energy solutions, has announced the pilot line for the mass production of the 500W+ Duomax V and Tallmax V modules.

 

This marks another...

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