BHP SANCTIONS RUBY PROJECT IN TRINIDAD AND TOBAGO
The BHP Board has approved US$283 million (BHP share) in funding to develop the Ruby Project in Trinidad and Tobago. Total investment for the oil...Read More+
Total has signed a shareholders’ agreement with Chinese state-owned Zhejiang Energy Group (ZEG), to create a joint venture company dedicated to the supply and delivery of low-sulfur marine fuels in the region of Zhoushan, China.
The agreement, signed on the sidelines of the IPEC conference in Zhoushan, follows a Memorandum of Understanding concluded by Total and ZEG in April 2019 to explore opportunities in the supply and distribution of energy in China. Total China Investment (TCI) will hold a 49% share in the new company while Zhejiang Zheneng Petroleum New Energy (ZZPNE) will hold the remaining.
Zhoushan region covers both Ningbo and Shanghai ports, the busiest shipping hub in the world in terms of cargo tonnage.
By combining ZEG’s historical anchoring in the energy business in the region and Total’s longstanding expertise in the trading and marketing of international bunkers, the new company aims to actively contribute to the development of this fast growing market.
“This new partnership is fully aligned with our strategy to support and supply our shipping customers wherever they go.” declared Philippe Charleux, Senior Vice-President Lubricants & Specialties of Total. “Providing them with low sulphur fuels fully compliant with IMO regulation in China will further contribute to the transition towards a sustainable shipping industry.”
The creation of the new company ensures the continuity of Total’s business development strategy initiated almost 40 years ago in China.
Total has been present in China for almost 40 years. The Group was the first international energy company to enter China’s offshore oil and gas exploration and refining business. With a team of more than 4,000 employees the company is actively present across the entire value chain of China’s energy industry, including Exploration & Production, Gas, Renewables & Power, Refining & Chemicals, and Marketing & Services activities. Total is constantly developing new business opportunities with Chinese partners both in China and globally.
Hydraulic fracturing operations in the Permian shattered old records in June, according to Rystad Energy. The prolific shale basin in Texas and parts...Read More+
Talos Energy advised that operations are concluding on the Green Canyon 21 Bulleit prospect. The well encountered approximately 140 feet of net true...Read More+
BP and Reliance Industries Limited (RIL) today announced that they have agreed to form a new joint venture that will include a retail service station...Read More+
Equinor and YPF Luz announced that the companies have entered an agreement where a subsidiary of Equinor will subscribe to shares in Luz del León....Read More+
Independent Oil and Gas, the development and production company focused on becoming a substantial UK gas producer, confirmed that the Maersk Resilient...Read More+
Deep Down, Inc., an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services...Read More+
Asahi Tanker Co., Ltd., Exeno Yamamizu Corporation, Mitsui O.S.K. Lines Ltd., and Mitsubishi Corporation announced their agreement to create a strategic...Read More+
Helix Energy Solutions has entered into a contract for its new-build semi-submersible well intervention vessel, the Q7000. The vessel will be performing...Read More+
Borr drilling advised that the comapny secured contracts for the jackups Grid and Gersemi offshore Mexico. Reference is made to Borr Drilling...Read More+
After a major construction phase, the 3,500 tonne Dvalin module has been lifted safely aboard the Heidrun platform in the Norwegian Sea. The three-hour...Read More+