![Singapore: Sembawang Increases its Stake in SKL from 19.9 to 40 pct]()
Sembcorp Marine’s wholly owned subsidiary Sembawang Shipyard has exercised its option to increase its shareholding in Sembmarine Kakinada Ltd (SKL), a joint venture between Sembawang Shipyard and Kakinada Seaports Limited, from 19.9% to 40% of the joint venture’s initial investment of US$50 million, making it the largest single shareholder of the joint venture facility. The [...]
![Iran’s Gas Production Capacity to Increase to 1.4 bcmpd Over 3 Years]()
Iran will have the potential to export up to 250 million cubic meters of gas in next two to three years, managing director of the National Iranian Gas Company (NIGC), Javad Owji announced here. According to the report of the public relations of the NIGC, he said that Iran with 33 trillion cubic meters of [...]
![Oil & Gas UK: Surprise Tax Increase Forces Investors to Think Twice]()
Oil & Gas UK, the leading representative organisation for the UK offshore oil and gas industry, responds to reported drop in UK Exploration. Mike Tholen, Oil & Gas UK’s economics director, said: “The drop in UK exploration and appraisal activity compared to other sectors of the North Sea since the Budget is a worrying reflection [...]
![U.S. Gov’t Preparing New Set of Rules to Increase Offshore Drilling Safety]()
The government is poised to propose new rules that aim to boost the safety of offshore drilling and tighten standards for emergency … By Jennifer Dlouhy (Chron) Source:Chron , June 23, 2011;
![USA: Republicans Vote for Increase in Offshore Energy Production]()
Today, U.S. Representative Diane Black (R-TN), voted for H.R. 1230, the Restarting American Offshore Leasing Now Act, which would require… Read more at The State Column Source:The State Column , May 10, 2011;
![Hardy Oil and Gas Decides Not to Increase its Interest in D3 Licence Offshore India]()
Hardy Oil and Gas plc , the oil and gas exploration and production company with assets in India, announces that it has elected not to exercise an option to increase its participating interest, by three per cent, in the D3 (KG-DWN-2003/1) exploration licence. Following BP’s announcement with respect to the acquisition of a 30 [...]
![Philippines: Otto Energy Announces Increase in Galoc Oil Field Reserves]()
Otto Energy Ltd provides an update on remaining oil reserves balances at the Galoc field as at 1 January 2011. The Operator and 59.84% participant in the project, Galoc Production Company WLL, in which Otto is a 31.38% shareholder, annually commissions a review on behalf of the Galoc joint venture of the remaining oil [...]
![Pemex to Splash USD 1 Billion to Increase Oil Output from its Gulf of Mexico Assets]()
State-owned Petroleos Mexicanos said Wednesday it plans to invest almost $1 billion over five years to boost heavy and extra-heavy crude … Source: Latin American Herald Tribune Source:laht , April 7, 2011;
![The Netherlands: SBM Offshore Posts 2010 Net Profit of USD 276 Million. 20 pct Increase from 2009]()
SBM Offshore’s consolidated result for 2010 is a net profit of US$ 276.0 million, a 20.0% increase in comparison with the 2009 net profit of US$ 230.0 million. This result includes non recurring items which generated a net gain of US$ 9.0 million in 2010 (US$ 32.4 million in 2009). Net profit attributable [...]
![Investments of USD 11.58 Billion to Increase Recovery in Ekofisk Area Off Norway]()
The Norwegian Ministry of Petroleum and Energy today received Plans for Development and Operation (PDO) on the Ekofisk and Eldfisk fields. The projects (Ekofisk South and Eldfisk II) will entail investments in the region of NOK 65 billion(USD 11.58 billion). -I am happy to recieve new PDOs in the Ekofisk area. 40 years ago, [...]
