Industry News

BP, whose US headquarters are located in Florida, has agreed to buy stakes in gas-heavy exploration areas off the coast of Mauritania and Senegal from Kosmos, a Dallas-based energy company, days after announcing the long-awaited renewal of an onshore oil concession in Abu Dhabi.

ExxonMobil, whose headquarters are located in Texas, has announced that Chairman and Chief Executive Officer (CEO) Rex Tillerson will retire from XOM at year-end, and Darren W.

Quebec’s legislature passed a bill that will pave the way for more oil and gas exploration, providing a boost to drillers.

LINAK, a producer of actuators and actuator systems used in industrial automation, agricultural machinery, healthcare and more, plans to add a 145,000-square-foot warehouse at 2200 Stanley Gault Parkway, Louisville, spending USD $14 million on a building addition and new equipment.

Japanese trading group Mitsui & Co., Ltd recently stated that it had reached a deal with Royal Dutch Shell to buy a 20 percent working interest in four blocks in the Gulf of Mexico owned by a Shell subsidiary.

Diakont, a Russia-based global designer and manufacturer of robotic technology for oil and gas pipelines and storage, has established its first North American regional office in Houston.

Shareholders of Brazil's state-run oil company Petrobras have approved the sale of a 90 percent stake in pipeline unit Nova Transportadora do Sudeste (NTS) to a group led by Canada's Brookfield Asset Management.

A Texas-based oil and gas company has reached a USD $430 million deal that will clear the way for more production in southeastern New Mexico.

Unique Group, a leading integrated subsea and offshore solution provider, with offices in Canada and the US, has announced that its On-Site Engineering division, through its Wellube brand, has partnered with KSB Group, a producer of valves, pumps and related systems, to offer a new service to its customers in the Middle East and Africa region.

A Houston-based company, Raven Petroleum, plans to build the largest new US oil refinery in nearly 40 years on 200 acres of South Texas ranch land, strategically located to process the Eagle Ford shale field’s lighter crude and export it to Mexico.