A.P. Moller – Maersk said it has agreed to sell its oil tanker business for US$ 1.171 billion to its largest shareholder A.P. Moller Holding, which will set up and lead a consortium with Japan’s Mitsui and others for the tankers business.
Saudi Arabia's SABIC continues its global growth with new polypropylene (PP) ventures in Europe with the opening of a pilot plant in the Netherlands and committing to a new investment in a PP extrusion facility at the same location.
Xodus Group has been awarded two Environmental and Social Impact Assessment (ESIA) contracts for projects in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) blocks in Senegal, West Africa.
BP-led consortium and SOCAR, Azeri state energy firm signed a deal to extended a product sharing contract until 2050 for the super-giant Azeri-Chirag-Guneshli (ACG) offshore fields, the largest in the Azerbaijani sector of the Caspian Sea.
Libya’s National Oil Company said tampering with a gas pipeline valve has set it back by almost $2.17 million in losses from cutting back of production and exports and halting supply of gas to local power stations.