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DNO Receives Payment for Crude Deliveries from Tawke

Date : Apr 03, 2020

DNO ASA, the Norwegian oil and gas operator, reported receipt of US$77.2 million as payment for October 2019 crude oil deliveries from the Tawke license in the Kurdistan region of Iraq.

 

The funds for deliveries to the export market, will be shared by DNO and partner Genel Energy plc pro-rata to the companies' interests in the license.

 

Separately, a payment of $5.71 million was also been received net to DNO, representing three percent of gross October 2019 Tawke license revenues, as provided for under the August 2017 receivables settlement agreement with the Kurdistan Regional...

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Saudi Energy Firms Pledge $140mn in fight against Coronavirus

Date : Apr 03, 2020

Joining hands with the government in the fight against the coronavirus pandemic, major Saudi energy companies have contributed a whopping SR525 million to the country’s Health Endowment Fund.

 

The move follows Custodian...

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World Bank offers $1bn for COVID-19 India Emergency

Date : Apr 03, 2020

The World Bank has offered USD one billion to the Indian government for a proposed India COVID-19 emergency response and health systems preparedness project. The four-year project aims to develop the preparedness of India’s...

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NTPC Signs Share Purchase Agreement to Acquire THDC, NEEPCO

Date : Apr 03, 2020

NTPC has executed share purchase agreement for acquisition of the North Eastern Electric Power Corporation (NEEPCO) and THDC India (THDCIL).

 

The company has executed the agreement with the President of India...

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ADNOC Distribution Proposes $700mn Annual Dividend for 2020, 2021

Date : Apr 02, 2020

ADNOC Distribution has proposed an annual dividend of 2.57 billion dirhams ($700 million) for 2020 and 2021, and a shift to its previous policy to a dividend equal to 75 per cent of distributable profits from 2022...

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Oil Slumps to New Lows amid Pandemic-Hit Demand and Rising Supplies

Date : Apr 02, 2020

Oil price slumped to a 17-year low this week as coronavirus lockdowns barrelled through the world’s largest economies, leaving the market overwhelmed by slumping demand and swelling inventories.

 

Brent...

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CCI Approves JV between Adani Green Energy and Total S A

Date : Apr 02, 2020

The Competition Commission of India (CCI) has approved the formation of a joint venture (JV) between Adani Green Energy and Total S A in the business of power generation through solar energy in India.

 

The...

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India Stocks Enough Petrol, Diesel, LPG to Last Lockdown – IOC

Date : Apr 02, 2020

India, the world's third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stocks to last way beyond the three-week nationwide lockdown as all plants and supply locations are fully operational, Indian Oil Corp...

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India: Anil Agarwal for the 1st Time Takes Board Position on Vedanta Ltd

Date : Apr 02, 2020

Metals and mining magnate Anil Agarwal has for the first time taken a board position on his flagship Indian firm, Vedanta Ltd, replacing his brother Navin. Agarwal, 66, who turned a tiny scrap metal business into a mining...

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Saudi Aramco Sees 2019 Profit Fall; Spending Cuts in 2020

Date : Apr 01, 2020

Saudi Aramco announced its full year 2019 results that saw its net profit drop by 21 per cent and see the oil giant cut its 2020 spending to $25-$30 billion, compared to $32.8 billion in 2019.

 

The Saudi...

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STATS Group Strengthens Pipeline Technology Operations in Oman

Date : Apr 03, 2020

STATS Group, a pipeline technology company, has strengthened its presence in Oman with the opening of a new workshop, storage and testing facility in Muscat.   The expansion comes after the pipeline technology specialist secured a two year extension to a master services agreement with Petroleum Development Oman (PDO) to provide pipeline isolation and hydrostatic testing services.   Also in the Middle East, STATS have trebled the size of their operation in Abu Dhabi in a move to a larger workshop and office facility in the Mussafah district.   STATS Group are market leaders in the supply of pressurised pipeline isolation, hot tapp...

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Indian Renewable Energy Projects Get Extension due to Lockdown

Date : Apr 03, 2020

All renewable energy projects under implementation will be given extension of time considering period of lockdown and time required for remobilisation of work force due to Corona virus outbreak.

 

The pandemic...

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Iran to Resume Gas Exports to Turkey Soon – NIGC

Date : Apr 02, 2020

National Iranian Gas Company (NIGC) says Iranian gas exports to Turkey will resume in a few days after repairing the gas pipeline from Iran to Turkey which was hit by an explosion on Tuesday morning.

 

Turkish...

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Sharjah’s SNOC Slightly Delays Mahani 1 Gas Project

Date : Mar 31, 2020

UAE's Sharjah National Oil Company (SNOC) said that current impact of the coronavirus outbreak will delay the startup of production at its Mahani gas exploration project.

 

"In terms of the Mahani...

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Sinopec Deploys Giant Crawler Crane at Duqm Refinery Project Site

Date : Mar 31, 2020

Chinese specialist heavy lifting and transportation contractor Sinopec Heavy Lifting & Transportation Company (SLT) has deployed the world's largest crawler crane - its fully-owned XGC88000 machine - to lift into place a massive piece...

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India: Over 62 GW Coal-Based Power Plants Under Construction

Date : Mar 31, 2020

Coal based power plant projects of 62.23 GW capacity are currently under various stages of construction in the country.

 

Of this, 19.78 GW are central sector coal-based projects, 18.72 GW state sector power...

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Consortium Finalises Financing for Ibri Solar PV Power Plant

Date : Mar 30, 2020

A consortium consisting of ACWA Power, GIC and AEPC have finalised financing for the US$400 million 500 MW solar photovoltaic (PV) power project at Ibri in Oman, which is also the largest utility scale solar plant in the country as of...

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Gujarat to Install Solar Systems to Power 15 Water Treatment Projects

Date : Mar 30, 2020

Gujarat’s Chief Minister Vijaybhai Rupani has approved the proposals to install solar systems in the state at an approximate cost of Rs. 136.1 million. The solar energy generated from these solar systems will be utilized for 15...

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UL, GCC Labs Inaugurate First Renewable Energy Services Lab in Dammam

Date : Mar 27, 2020

UL, global safety science organisation, and Saudi-based GCC Electrical Testing Laboratories (GCC Labs) inaugurated their first joint venture lab in Dammam under the patronage of Prince Abdulaziz bin Salman, Saudi Arabia's Minister...

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JSPL Mulls Setting Up Steel Plant at Patratu

Date : Mar 27, 2020

Jindal Steel and Power (JSPL) is exploring possibility for setting up a steel plant at Patratu in Ramgarh district of Jharkhand. The plant will have a capacity of two to 2.5 million tpa.

 

The company...

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