South Africa’s Sasol Ltd. has let a contract to a division of Emerson Electric Co., St. Louis, Mo., to provide automation services and technology for a proposed integrated ethane cracker and downstream derivatives complex to be built adjacent to the company’s existing operations near Lake Charles in Westlake, La. Source: News
Repsol to divest €6.2 billion in assets, cut spending by 38%
Repsol SA plans to divest €6.2 billion in nonstrategic assets and cut spending by 38% “without altering its company profile” as part of its 2016-20 strategic plan. Source: News
More industries incorporate climate into strategies, speakers say
Industries increasingly are trying to incorporate planning for climate risks into their long-term business strategies, speakers agreed during a natural resources symposium at Georgetown University. Source: News
Kuwait, like UAE, maintaining oil outlays
Kuwait is maintaining its oil industry investments despite the drop since mid-2014 in the price of crude oil. Source: News
Lukoil begins deliveries to Gazprom’s Sosnogorsk gas plant
PJSC Lukoil subsidiary OOO Lukoil-Komi LLC has initiated deliveries of associated petroleum gas (APG) from its group of production fields in northern Russia’s Komi Republic to PJSC Gazprom’s 3 billion-cu m/year Sosnogorsk gas processing plant. Source: News
DEA to buy E.On E&P Norway for $1.6 billion
DEA Deutsche Erdoel AG, Hamburg, said it is acquiring E.On E&P Norway and its interests in 43 licenses on the Norwegian Continental Shelf for $1.6 billion. The deal includes three producing fields. Source: News
Orlen to acquire another Canadian producer
Orlen Upstream Canada Ltd., a unit of Polski Koncern Naftowy Orlen SA, has agreed to acquire all shares of Kicking Horse Energy Inc. for $293 million (Can.). The deal was reported just as Orlen Upstream Sp. z o.o. agreed to purchase FX Energy Inc., a Salt Lake City-based producer with assets in Poland. Source: […]
Lukoil makes natural gas discovery in offshore Romania
PJSC Lukoil has made a natural gas discovery 170 km offshore Romania in the Black Sea. Source: News
MARKET WATCH: Oil prices retreat on IEA oversupply comments
Light, sweet crude oil prices for November delivery dropped on both the New York and London markets on Oct. 13 following a report from a Paris group that world oil oversupply will continue into 2016 and an analyst’s suggestion that low prices could continue until late next year. Source: News
FAR contracts rig for Senegal work
FAR Ltd., Perth, and its joint-venture partners have finalized contracts for the use of Ocean Rig’s Athena drillship for the forthcoming program offshore Senegal. Source: News