The chemicals giant owned by billionaire Jim Ratcliffe has roiled global energy markets after shutting the North Sea's most important oil and gas pipeline system after discovering a widening crack. Ineos, which owns the Grangemouth refinery, said it discovered a small crack in the pipeline outside Aberdeen just weeks after buying the pipeline system from BP. The crack has grown to almost six inches long despite efforts to limit the damage. The shock shutdown propelled the global oil price to two year highs of over $64 a barrel over fears of a potentially major supply disruption for Britain's remaining refineries.
By Offshore Energy Today.. Premier Oil has entered into a sale and purchase agreement to sell its entire equity interest in the Esmond Transportation System (ETS) pipeline in the North Sea to pay off its debts. ... Read Full Article Here For more great articles: Offshore Energy Today.
State Farm has sold and leased back the 370,000-square-foot building it developed at 300 Rio Salado Parkway and four other office buildings in the Phoenix metro. A partnership between Transwestern Investment Group (TIG) and JDM Partners LLC led by principals the principals Jerry Colangelo, David Eaton and Mel Shultz has wrapped up the acquisition of Marina Heights, a five-building office campus on 20 acres from State Farm Automobile Insurance at...
Premier Oil Plc will sell its 30% stake in a North Sea pipeline to UK gas infrastructure company CATS Management Ltd for up to 23.6 million pounds ($31.68 million).
[Independent (Kampala)] Kampala -Oil companies - Total E&P, Tullow Oil and CNOOC - are locked in a bitter fight for control of Uganda's oil sector. The coveted prizes are deals worth about $20 billion.
Sri Lanka formally handed over commercial activities in its main southern port to a Chinese company on Saturday and received US$292 million out of a US$1.12 billion deal, Finance Minister Mangala Samaraweera said.
The European Bank for Reconstruction and Development (EBRD) has said it is providing Isbank, Turkey's largest private bank, with $55 million in financing to support small-scale renewable energy and resource efficiency projects in the country.
The new plans were revealed alongside the national infrastructure and construction pipeline, which sets out projects for the next 10 years. The PS600bn pipeline includes both public and privat...