The £2.2 billion ($2.7 billion) takeover of Amec Foster Wheeler by rival engineering giant Wood Group plc is on course to be completed next month following approval from the UK’s competition watchdog. Watchdog approval The Competition and Markets Authority (CMA) launched an investigation in June over concerns that the deal would harm competition in the …
French oil giant Total is set to acquire its Danish rival Maersk Oil and Gas for $7.45 billion dollars. Danish Maritime giant Maersk A/S informed on Monday it had entered into an agreement to sell its subsidiary Mærsk Olie og Gas A/S to Total S.A. for $7.45bn in a combined share and debt transaction. This …
Renewable energy projects The oil industry may be committing up to a fifth of their total investment in green energy projects after 2030 as hydrocarbons production declines. A growing number of key oil and gas players are starting to invest in renewable energy projects. Analysis from Wood Mackenzie suggests that major energy companies like Royal Dutch …
OPEC oil cuts Kuwait joined Saudi Arabia and Russia in supporting an extension of oil cuts by OPEC and other global producers through the first quarter of 2018 to help trim global stockpiles. An extension of the cuts at already agreed-upon output volumes is needed to reach the goal of paring world inventories to their five-year …
Wood Mackenzie survey indicates that upstream players are grappling with the current uncertain situation The oil and gas industry is facing a challenging year. Oil prices remain volatile, and uncertainty remains about whether prices will recover from around $50/bbl. Across the upstream sector, companies are considering their next investments, while weighing up how to remain …
Legislation is part of plan to double investment in the sector to $25bn in eight years. Argentine authorities, mining industry players and unions are expected to sign this week a long awaited federal mining agreement. This agreement unifies existing legislation across the country, as part of an ongoing effort to jump-start investment in the sector. The …
Improving gold and copper prices to support development, says BMI Research. Ecuador, until recently only known by its oil resources, will continue to attract investors to its mining sector. The value of the dawning industry is set to jump from $1.1 billion this year to $7.9 billion in 2021, a new report shows. MINING INVESTMENT HOT …
Copper production in figures Preliminary production by the top 10 copper mining companies compiled by IntelligenceMine totalled 9,448 kilotonnes of copper in 2016. That represents a 4% increase compared to 2015 and makes up ~49% of global copper production that reached 19,400 kt last year. Six out of 10 companies increased their copper output while …
The Scottish government has given the green light to the development of one the largest floating offshore wind projects in the world. KINCARDINE OFFSHORE WINDFARM PROJECT The Kincardine Offshore Windfarm Project will have a generating capacity of 50 megawatts (MW) and will be capable of supplying enough power for roughly 56,000 homes when it is commissioned …
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