As regional producers seek new revenue streams, petrochemicals have moved to the forefront...
- Middle East oil producers target petrochemicals for growth
- DNO ramps up production at Peshkabir field in Iraq
- Eni to buy 50% of BP’s interest in Libyan oil and gas licence
- Report: US and Russia top spenders across oil and gas value chain
- M&As this week: Northern Oil and Gas, Gear Energy, Drillinginfo
Middle East oil producers target petrochemicals for growth
As regional producers seek new revenue streams, petrochemicals have moved to the forefront of their plans, with demand expected to grow by a massive 150% by 2040.
Nine Energy Service to buy Magnum Oil Tools in $493m deal
US-based Nine Energy Service is to acquire downhole technology provider Magnum Oil Tools International in a cash-stock deal valued at nearly $493m.
Echo Energy signs technical evaluation agreement for Rio Salado block
Echo Energy has signed a technical evaluation agreement (TEA) with Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) for the Rio Salado block in Bolivia.
Silver Creek concludes acquisition of Genesis’ PRB midstream assets
Silver Creek Midstream has completed the $300m acquisition of Genesis Energy’s Powder River Basin (PRB) midstream assets in the US.
Indian Prime Minister to meet oil and gas CEOs to secure investment
Indian Prime Minister Narendra Modi is set to meet chief executives of high-profile oil and gas companies to discuss ways to revitalise investment in domestic exploration and production.
Asia and Africa still dominate global refinery spending
GlobalData’s latest report, H2 2018 Global Capacity and Capital Expenditure Outlook for Refineries – Asia and Africa Continue to Dominate Global Refinery Capex and Capacity Additions, indicates that, the global crude distillation unit (CDU) capacity is expected to register significant growth of 15.1% over the next four years, increasing from 101.7 million barrels per day (mmbd) in 2018 to 117.0mmbd by 2022.
M&As this week: Precision Drilling, Baker Hughes, IPC
Precision Drilling has entered an agreement to purchase 100% in Trinidad Drilling for C$1.028bn ($794.28m).
Deals this week: Total, BP Midstream Partners, Eni
Total has signed a concession contract with Sonatrach and Alnaft for the development of the Erg Issouane gas field in Algeria.
DGO buys natural gas producer Core Appalachia for $183m
Diversified Gas & Oil (DGO) is to expand its midstream footprint in Southern Appalachia through acquiring independent natural gas producer Core Appalachia from TCFII Core in a $183m cash-stock deal.
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