FMC Technologies, Technip Agree to $13 Billion Oil-Services Merger.?FMC Technologies and French oil-services rival Technip Thursday said they will?merge in a $13 billion deal,?a sign of accelerating consolidation in the sector hit hard by spending cutbacks by large oil groups amid the recent slump in crude prices. [Wall Street Journal, Oilpro]
Occidental Says It Has “No Knowledge” Reported Takeover Bid For Apache.?Melissa Schoeb, Occidental spokeswoman, told Oilpro via email midday Wednesday,?“We have no knowledge”?of the reported takeover. [Oilpro]
Oil Drops Below $48/bbl.?Oil fell below $48 a barrel on Thursday, pressured by a stronger dollar and as?a surprise increase in U.S. crude inventories?served as a reminder that supply remains ample despite output problems. [Reuters]
Petrobras Extends Offshore Leases Until 2052.?Petrobras and National Petroleum Agency (ANP) has signed the?extension of the concession contracts?for the Marlim and Voador fields, offshore Brazil until 2052. [Offshore Energy Today, Oilpro]
The UK’s Largest Construction Project Since The London Olympics Is Up & Running.The Total-operated Shetland Gas Plant has been officially opened. Said to be the?largest construction project?in the UK since the London Olympics, the plant is capable of supplying energy to two million homes, or around 8% of the UK’s total gas needs, according to Total. [Oilpro]
Will New Panama Canal Be An LNG Game-Changer??In five weeks’ time the expanded Panama Canal will open,?marking the start?of more frequent passage through this strategic waterway by LNG carriers. Next month’s grand ceremony will mark the end of a $5.25bn project almost a decade in the making. [lngworldshipping.com, Oilpro]
How the Mideast’s Second-Richest Nation Is Reacting To Oil Shock.?The man in charge of helping Kuwait navigate the global oil-price shock said?the Middle East’s second-richest nation?is responding to the crisis by “spending as much as possible” to bolster economic growth. [Bloomberg]
Former Presidential Chief Of Staff Dirceu Gets 23 Yrs For Role In Petrobras Bribe Scandal.?The former chief of staff to Brazil’s ex-President Luiz Inacio Lula da Silva (known as Lula)?was sentenced on Wednesday?to more than 23 years in prison for his part in the Petrobras graft scandal. [Splash 247, Oilpro]
Oil Wars: Why Nations Aren’t Battling Over Resources.?A critical question remains: Do countries?fight over oil resources??The question isn’t just pertinent to the South China Sea. The Arctic, Caspian, East China Sea and eastern Mediterranean have all been identified as potential “hot spots” for international oil conflicts. [Washington Post]
Surveys For Subsea Section Of Nord Stream 2 Completed.?Gazprom informed that, as of today, geophysical surveys?have been completed?for the subsea section of Nord Stream 2 and geotechnical investigations are underway. [Subsea World News, Oilpro]
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