Tag: oil and gas
ExxonMobil to Move Out of North Sea Oil & Gas
ExxonMobil has recently announed that they are planning to leave the North Sea Oil & Gas industry. The company, one of the largest international oil and gas providers, is in talks with a number of other firms for the sale of its stakes in 40 Oil & Gas fields, with total expected value of £1.6 billion (USD $2 billion).
Circor Will Divest its Upstream Oil and Gas Business
Circor International revealed it will dispose of its long-cycle upstream oil & gas engineered valve business to P&P Flow Control, an affiliate of Certina Holding AG, with an earnout of 50% of net income over seven years up to a maximum of €18M.This transaction is consistent with the company’s strategy to exit non-core businesses and further simplification.
B.C. LNG project receives approval
The British Columbia (B.C.) Oil and Gas Commission has approved a liquefied natural gas (LNG) project located just outside of Squamish, B.C.
Rising oil prices encourage more spending
Rising oil prices encouraged more spending by small and intermediate oil and gas companies in Western Canada during the first six months of 2018.
RDS & Kavin Partner for Oil and Gas Projects
RDS, a KCA Deutag business, and Kavin Engineering And Services Private Limited have announced that they have entered into a strategic alliance that will see the two companies combine their strengths and expertise to jointly pursue design and engineering projects across the upstream and midstream oil and gas market.
Government: U.S. set to be world’s top oil producer
The U.S. government sees oil production further climbing next year. The Energy Information Administration sees U.S. crude output averaging 11.