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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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Four major orders worth US $ 217.45 million for L & T.

Date : Not Given

Four EPC orders from Qatar, U.A.E. and Oman has been given to the L&T. The contracts that are worth a total of US $ 217.45...

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Power Grid to Bid Rs 1,300cr Contract for Power Project

Date : Not Given

Power Grid Corporation of India will be competing for a domestic contract with Indian and foreign rivals for the first time since its inception. The corporation will bid for the Rs 1,300-crore contract, the first after the government in January made it...

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Petrobras Inks Ethanol Supply Contract

Date : Not Given

Petrobras Distribuidora .BR. and Petrobras Biocombust?vel .Biofuels. have executed with A??car Guarani S.A. .Guarani. a contract for the supply of up to 2.2 billion liters of ethanol during four years. The contract was executed under market conditions...

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RIL, RNRL Sign Gas Supply Contract

Date : Not Given

Anil Ambani-promoted Reliance Natural Resources .RNRL. Friday signed a revised gas supply agreement with Reliance Industries...

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Maaden, Alcoa Begins Construction of Aluminium Rolling Mill in KSA

Date : Not Given

Alcoa Inc., the largest US aluminum producer, has started construction of an aluminum refinery in Saudi Arabia, reported on 11 Aug. The project was marked on Aug 10 by an official groundbreaking at the refinery site and the pouring of the first concrete...

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KPCL to Begin Shimsha Power Plant Development by June End

Date : Not Given

The foundation stone of the Karnataka Power Corporation Ltd's .KPCL. 5-MW grid-connected solar power plant is expected to be laid by the end of this month at Shimsha in Mandya district. According to KPCL sources, the project preparations are under way to...

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THDC Signs $648mn Loan Deal with World Bank for Hydro Power Project

Date : Not Given

The World Bank has inked a $648 million loan agreement with THDC India Ltd .THDC. to construct the Vishnugad Pipalkoti Hydro...

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Cairn India instigated production in Mangala oil field.

Date : Not Given

Cairn India has instigated production over the weekend at Mangala oil field, Rajasthan block. Oil Minister Mr. Murli Deora said...

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Raichur Power Plant Yet to Complete Power Evacuation Work

Date : Not Given

Work related to setting up a 3-MW solar power plant has been completed in Raichur. However, the plant is yet to begin power generation as power evacuation work .drawing transmission lines. is yet to be completed. According to the sources, the plant is...

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Coal India May Extend Bid Deadline for CBM

Date : Not Given

According to the sources, Coal India Ltd may extend the August 17 deadline for receiving bids for extraction and commercial...

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