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Enbridge Cutting 1,000 Jobs in US and Canada
(Wednesday, March 22, 2017) Following the closing of its acquisition of Spectra Energy, Enbridge is trimming its workforce by 6%.
Petrobras Raises Asset Sale Goal to $21 Bln for 2017-2018 Period
(Wednesday, March 22, 2017) Petrobras downstream director Jorge Celestino said the company remains very interested in finding partners for its refining business.
Centrica CEO's Annual Remuneration Package Rises Nearly 40 Pct
(Wednesday, March 22, 2017) Iain Conn, chief executive of Britain's largest energy supplier Centrica, received a nearly 40 percent rise in annual remuneration to more than 4 million pounds, the company's yearly report showed on Wednesday.
Exxon Must Confer with NY Atty Gen'l on Tillerson Emails -Judge
(Wednesday, March 22, 2017) A New York state judge on Wednesday ordered ExxonMobil Corp to work with New York's attorney general to recover lost emails from an account once used by U.S. Secretary of State Rex Tillerson when he was the oil company's chief executive.
Wood Group Aims to Grow Employment in Long-Term Following Amec Deal
(Tuesday, March 21, 2017) Wood Group refuses to provide any detail on potential job losses as a result of its decision to buy Amec Foster Wheeler, but insists that its aim is on growing employment in the long term.
Dutch Bank ING Sells Dakota Pipeline Loan Share to 'Send Message'
(Tuesday, March 21, 2017) Dutch bank ING Groep on Tuesday said it has agreed to sell its $120 million share of the loan for the Dakota Access Pipeline, the first bank to offload its debt from the project.
Berkshire's Lubrizol to Take Majority Stake in India Joint Venture
(Monday, March 20, 2017) Lubrizol Corp, the specialty chemicals unit of Warren Buffett's Berkshire Hathaway Inc, said on Monday it plans to take majority control of its Indian joint venture with state-run Indian Oil Corp, boosting its stake to 74 percent from 50 percent.
Exxon Eyes Sale of Italian Service Stations -Sources
(Friday, March 17, 2017) Exxon Mobil is seeking to sell half of its 2,500 petrol stations in Italy for up to 500 million euros ($537 million), several sources close to the process said.
Petrobras Resorts to Top Court to Free Divestment Plan
(Friday, March 17, 2017) A regional oil workers' union said on Thursday that an injunction freezing sales of assets by Brazilian state-run oil company Petrobras, including its fuels distribution unit, will continue to block divestiture.
EPA Hit Hardest As Trump Budget Targets Regulation
(Thursday, March 16, 2017) President Donald Trump's administration proposes a 31% cut to the Environmental Protection Agency's budget.
Cargill Says Macquarie Group to Buy Its Petroleum Business
(Thursday, March 16, 2017) Australian investment bank Macquarie Group Ltd agreed to buy Cargill Inc's petroleum business, the commodities trader said on Thursday, the latest reshuffling of its business following an almost three-year slump in oil prices.
Unpaid Wages, Sackings Stir New Tension in Nigeria's Oil Hub
(Thursday, March 16, 2017) The moment a group of Nigerian contractors met executives from Italian oil major Eni to discuss unpaid wages they started shouting, calling them fraudsters and liars until a police commander restored calm.
Oman Refiner Said to Hire Credit Agricole for $6 Billion Project
(Wednesday, March 15, 2017) Spokesmen for Oman Oil and Credit Agricole didn't respond to requests for comment.
Malaysia's Petronas Warns on 2017 Outlook Despite Swing to Q4 Profit
(Tuesday, March 14, 2017) Malaysia's Petroliam Nasional Bhd warned on Tuesday of a cautious outlook for 2017, although sharp cutbacks in expenses by the state-run oil major allowed it to swing to a fourth-quarter profit from a loss in the year-ago period.
Wood Group to Acquire Amec in $2.7 Billion All-Share Deal
(Monday, March 13, 2017) John Wood Group Plc agreed to acquire Amec Foster Wheeler Plc in an all-share deal that values the U.K. engineering-service provider at about 2.23 billion pounds ($2.7 billion). The shares of both companies surged.
Odebrecht Mess Leaves Devastation Trail From Andes to Caribbean
(Monday, March 13, 2017) A $7.3-billion pipeline project in Peru is only one among numerous victims of the region-wide scandal emanating from Latin America's biggest builder.
Harmony Merger Corp and Pvt LNG Company NextDecade to Merge
(Monday, March 13, 2017) Acquisition company Harmony Merger Corp and privately held liquefied natural gas developer NextDecade LLC said on Monday that they would merge in an all-stock deal valued at about $1 billion.
Exxon-BP Acquisition Talk Resurfaces: Is a Deal Really Likely?
(Friday, March 10, 2017) While a bid for BP can't be ruled out, reports about Exxon's interest have been around for years and analysts from Macquarie Capital Ltd. to Canaccord Genuity said a deal was unlikely.
Ex-BP Exec Charged in Singapore for Receiving $3.95 Mln in Bribes
(Thursday, March 09, 2017) A former regional director for marine fuels with BP was charged with taking bribes from an executive at a petroleum products supplier in order to advance the company's business interests with BP, according to the charge sheet.
Shell Expects To Split Motiva Assets With Saudi Aramco In Q2
(Tuesday, March 07, 2017) Shell Oil Co, the U.S. unit of Royal Dutch Shell Plc, expects to divide the refineries and other assets of its Motiva Enterprises venture with co-owner Saudi Aramco in Q2.