It has been revealed that the Argentinian government’s recent decision to nationalise the Repsol-owned company YPF has interrupted a non-binding takeover agreement with Sinopec valued at more than US$ 15 billion. Additionally, the Spanish government has threatened to retaliate via economic action.
Chevron is to supply Chubu Electric Power Company with 1 million tpy of LNG under a long term sales agreement from the Wheatstone LNG project.
Despite the threats of legal action and the use of diplomatic and possible economic pressure from Spain and the EU, the Argentinean government has nationalised YPF, a company in which the Spanish player Repsol had a 57.4% stake.
The Spanish government, which has a vested interest in YPF, has warned Argentina against nationalising the company and threatened to use “all its might” to defend Spanish interests.
Keppel Corp has signed a LOI for the construction of five semisubmersible rigs for Sete Brazil in a deal worth US$ 4.12 billion.
GDF Suez is to supply Gasnor AS with 7.5 TWh of LNG over a 12 year period, starting in 2013.
At a recent meeting, Vladimir Putin, unveiled a new set of rules for offshore development in Russian territory as well as long awaited tax breaks that look set to make formally economically unviable projects possible.
North West Shelf LNG seller shave extended an existing supply deal with Kyushu Electric for an additional six years until 2023.
The UN Security Council has voiced a demand for an “immediate and unconditional” end to the violent conflict that has erupted between Sudan and South Sudan.
The SuperMajor Shell has reported that an oil sheen discovered near two of its platforms in the Gulf of Mexico had dissipated and was “very confident” that its operations had nothing to do with the incident.
Aker Solutions has won a contract from Bapetco to supply surface wellhead equipment for its operations in Egypt’s Western desert.
In the most recent escalation of violence between Sudan and South Sudan, the disputed border town of Heglig and the surrounding oilfield were captured by South Sudanese forces causing international alarm.
Technip has won a contract worth € 245 million for the development for the Wheatstone and Iago fields, which will provide gas for the Wheatstone LNG project.
BHP Billiton has announced the closure of the Norwich Park metallurgical coal mine, part of its BMA joint venture with Mitsubishi Corp., after a seven week review of the mine’s viability.
Tsakos Energy Navigation Limited (TEN) has ordered a state-of –the –art LNG carrier for delivery Q1 2015 from a major South Korean yard. The vessel is of the new tri-fuel design enabling the ship to run on fuel oil, marine diesel/gas oil and natural gas offering attractive alternatives to charterers.