Shell Gas Holdings (Malaysia) Limited made an announcement regarding the sale of equity in Malaysia LNG Tiga Sdn Bhd (MLNG Tiga) for US$750 million. The economic date of the transaction is Sept 1, 2017, and Shell has been paid a final amount of US$640 million after the dividend adjustments. The sale is in line with...

Before the meet in Vienna, the OPEC members discuss a modest hike in oil output in order to strike a balance between Russia’s proposal for a big hike and Iran’s opposition for no change in production.   A compromise in the output hike indicates that the resulting increase in supply might be lower than the...

Upland Resources has raised a fund of £3 million through a share placing, winning support from both existing and new investors. Upland also said that the fundraising will strengthen the balance sheet of the company ahead of a busy schedule which includes spudding of Wick well in the third quarter and other activities. The placing...

Saudi Arabia, the world’s largest exporter of oil, has put forth several plans for a hike in the production of oil to the other OPEC members, as it aims to bridge the gap with Russia. Saudi Arabia has put up different scenarios to raise the oil output including a two-step hike to smoothen the effect...

Bahrain has planned to invite international oil companies to help develop the first major discovery in decades. It hopes to begin production in 5-years. Currently, this oldest and smallest energy producer of the Persian Gulf derives most of its revenue from crude exports. However, its finances are under strain due to lower oil prices. This...

The oil and gas industry has seen some horrific incidents in its existence. Learning from these incidents help us understand what went wrong as well as figure out what could have been done differently. 1. Piper Alpha Disaster, North Sea, UK This is by far the deadliest accident in this industry which claimed 167 lives in...

There has been a cyber-attack on Latitude Technologies, which supplied electronic data interchange services to several large energy providers in the US. Following this, several major US natural gas pipeline was shut off, out of which at least 5 confirmed a service disruption caused due to hacking. However, the companies didn’t alert the US Transportation...

The Canadian energy sector is predicted to face extinction unless certain mergers and acquisition takes place. There is some opportunity for the same north of the Canadian border. The choice is now to merge and innovate or to face extinction. The mix of potential M&A candidates varies, with natural consolidators among the oil-weighted producers “self-explanatory,”...

A worker died on the North Sea Platform of Repsol Sinopec’s Tartan Alpha platform. The incident is believed to be non-work related and the cause of death is being termed as natural. The police have informed the family. All production from the platform has been stopped. Source: Oil Industry News  

An oil leak and a subsequent fire killed at least 4 people in Balikpapan, an Indonesian oil town in the East Kalimantan province. A state of emergency was declared post the leak. The oil leak has stretched over 7 square miles and has contaminated the sea and the air. The port city, which has a...