fetching latest news

News tagged in:  

Investment NEWS

Saudi plans on investing $100 billion in India
Sept. 30, 2019

Saudi plans on investing $100 billion in India

Saudi Arabia is planning to invest $100 billion in India. Considering the growth potential of the country, Saudi Arabia will invest in energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining. For India, Saudi is the source of over 17% of crude and 32% of LPG requirements. "India's invitation to Saudi Arabia to invest in its strategic petroleum reserve reflects the trust and goodwill the two countries share", said Saudi Ambassador.

India aims at doubling non-fossil fuel target to 400 GW
Sept. 24, 2019

India aims at doubling non-fossil fuel target to 400 GW

In his address to the United Nations Climate Action Summit yesterday, Prime Minister Modi emphasized on taking action on climate change issues, rather than talking. The PM announced about increasing India’s renewable energy capacity to much beyond 175 GW by 2022, and later till 450 GW. He also added that the country is working towards increasing the proportion of the biofuel blend in petrol and diesel.

India to invest Rs 5 trn in oil and gas sector
Aug. 28, 2019

India to invest Rs 5 trn in oil and gas sector

India should expect an investment of around Rs 5 trillion in oil and gas, informed Petroleum Minister, Mr Dharmendra Pradhan. The country will witness investments in various sectors including exploration, distribution, marketing, regasification, pipeline network laying. Mr. Pradhan also informed about the long-term contracts for importing LNG. Also, domestic natural gas production would soar high touching 39.3 bcm by 2020-21.

HPCL plans Rs 74,000 crore in next five years
Aug. 22, 2019

HPCL plans Rs 74,000 crore in next five years

Aimed at expanding its capacity, an investment of around Rs 74,000 crore will be made by Hindustan Petroleum Corporation over the next five years. It will invest Rs 14,900 crore in the current year. HPCL's Chairman said, "We are focused on strengthening refining and marketing through expansion of our refining capacity, supply chain capabilities and customer reach".

IOCL plans to invest big in green projects
Aug. 20, 2019

IOCL plans to invest big in green projects

India's downstream giant, IOCL has planned to invest Rs 25,000 crore in green energy projects. In its annual report, the company said, "Indian Oil has developed a road map and action plan to usher in clean and green energy alternatives to mitigate the risk of global warming". The company will invest in solar and wind power plants, bio-fuels plants, and solar panels at filling stations.

Pemex to invest $10 billion for onshore and offshore development
Aug. 9, 2019
Source: World Oil

Pemex to invest $10 billion for onshore and offshore development

Pemex has received approval from Mexico’s National Hydrocarbon Commission (CNH) to develop onshore and offshore exploration opportunities. The firm has committed a 25-year investment of $10-billion. Pemex has planned to develop 22 new offshore fields in 2019. According to the current plan, Pemex will invest $330 million for the development and extraction operations in its Octli field.

Cluff Natural Resources raises £15m through share placing
June 7, 2019
Source: Energy Voice

Cluff Natural Resources raises £15m through share placing

To pay for its share of drilling costs, Cluff Natural Resources (CLNR) has raised £15m through placing of 854.2million shares with new and existing investors. Shell has recently completed a 70% farm-in to the P2252 licence in the southern sector, containing the 100 million-barrel Penascola prospect. It also signed a deal to farm in 50% to Cluff’s P2347 licence which contains the Selene discovery.

INEOS marks its first investment in Saudi Arabia
June 4, 2019

INEOS marks its first investment in Saudi Arabia

INEOS, the UK based chemicals multinational, has collaborated with Total to build chemical plants in Saudi Arabia worth $2 billion. The Jubail 2 complex would be developed which will host INEOS’ first ever plants in Saudi Arabia. “This is a major milestone for INEOS that marks our first investment in the Middle East,” said INEOS chair Jim Ratcliffe.

Looking at India as a rising economic power: Saudi FM
Feb. 25, 2019

Looking at India as a rising economic power: Saudi FM

The world's biggest oil exporter, Saudi Arabia, is planning to invest billions of dollars in India to make it a regional supply hub of crude oil. Saudi's Foreign Minister said that "We are investing in infrastructure that will help India boost its ability to import and export of petroleum products". Further, Saudi is already a part of a JV project that will set up USD 44 bn refinery in Maharashtra.

South Africa to invest $1 billion in South Sudan
Nov. 24, 2018

South Africa to invest $1 billion in South Sudan

South Africa is up for the largest investment in South Sudan, the war prone country which has the third largest oil reserves of Africa. South Africa will invest $1 billion, confirmed the oil minister of South Sudan. Both the countries signed the memorandum of understanding on Friday. Oil ministry has informed that the money will be used in R&D, refining and processing of oil and gas and in technology.

BHGE and GE arrive at long-term collaboration
Nov. 16, 2018
Source: World Oil

BHGE and GE arrive at long-term collaboration

Baker Hughes, a GE company, and General Electric have entered into a long-term agreement that will elevate their commercial and technological relationships to the next level. The agreements emphasize long-term collaboration on critical rotating equipment, BHGE access to GE Digital software and technology, and operations and pricing within BHGE digital solutions. With these, both the firms look forward to delivering high-value technologies and solutions to customers across the globe.

ADNOC to invest $1.4 billion in Bu Hasa
Nov. 15, 2018
Source: World Oil

ADNOC to invest $1.4 billion in Bu Hasa

ADNOC has taken an important step towards the execution of its 2030 smart growth strategy by investing $1.4 billion in its Bu Hasa field. This investment is to develop and expand the field which in return will increase its crude oil production capacity to 650,000 bpd. ADNOC Onshore, subsidiary of ADNOC operates the field and has awarded EPC contract to Tecnicas Reunidas SA.

Exxon and Chevron upset the analysts
July 28, 2018
Source: Bloomberg

Exxon and Chevron upset the analysts

The investors showed disinterest towards investment in big projects of Exxon and Chevron on Friday. Although they accepted Chevron’s stock buyback of $3 billion, ExxonMobil’s market value was scraped by $11 billion. Both the companies failed to meet the profit estimates of the analysts. The crude price of Brent went up by 50 percent higher than next year but both these companies failed to take full advantage.

Suncor Canada earnings calm investors
July 27, 2018
Source: World Oil

Suncor Canada earnings calm investors

The Syncrude outage last month had investors worrying, but the latest report on second-quarter profits of Suncor Energy have dispelled all the concerns. Despite the Syncrude facility shutoff, Suncor managed to generate $1.87 billion in cash from operations in the last quarter, a rise of 46% from 2Q2017. The Calgary-based oil sands firm has projected 740,000 to 750,000 boed in output this year.

UK extends bilateral cooperation to Angola
July 27, 2018
Source: ANGOP

UK extends bilateral cooperation to Angola

UK Ambassador to Angola, Jessica Hand, has described the relationship between UK and Angola to be excellent, with emphasis on the oil sector. She also stated that her country wants to extend bilateral cooperation in other areas as well, such as renewable energy, agriculture, and even democratic support to Angola. Ambassador Hand went on to praise Angola’s efforts to encourage foreign investment, especially from the UK.

Halliburton slips on Q2 profit
July 24, 2018
Source: World Oil

Halliburton slips on Q2 profit

Houston-based Halliburton International yesterday reported a drop of some 7.6% in profits in the second quarter, owing to the slowdown in the Permian shale and other parts of the United States. The fracing-service provider had a consistent performance since 2015, but the 2Q2018 saw a $789m operating profit for the company. Halliburton’s oil-service peer, Patterson-UTI Energy also suffered a 7.4% drop, on the disappointing outlook.

KZN to explore oil and gas industry
July 23, 2018

KZN to explore oil and gas industry

The provincial government of KwaZulu-Natal (KZN) in South Africa is looking towards investing more than R200 billion for infrastructure development. The government has shifted its focus on offshore oil and gas exploration. The acting KZN Premier, who is currently attending the BRICS Business Council Investment Opportunities conference, spoke about how the provincial government is actively taking interest in oceans economy.

Shell’s gift to Kwara school of Nigeria
July 23, 2018

Shell’s gift to Kwara school of Nigeria

In an attempt to spread its social investments across Nigeria and to promote the study of science subjects among secondary school students, Shell’s Nigerian subsidiary, SNEPCo has donated four ultra-modern science labs to Erku Secondary Commercial School in Kwara State. The State Commissioner for Education and Human Capital of Kwara state has made an appeal to the parents and teachers to encourage the students to learn science and technologies.

Please Login to Save News for Later