Offshore Market Reports

Shell has completed the sale of a 31.2% shareholding in Showa Shell Sekiyu K.K. to Idemitsu Kosan Co. Ltd. for a total amount of JPY159 billion (approximately US$1.4 billion). Completion follows anti-trust approval from the Japan Fair Trade Commission. John Abbott, Shell Downstream Director, said: “Shell has enjoyed a long…
Chevron Corporation announced a $19.8 billion capital and exploratory investment program for 2017. Included in the 2017 program are $4.7 billion of planned affiliate expenditures. "Our spending for 2017 targets shorter-cycle time, high-return investments and completing major projects under construction. In fact, over 70 percent of our planned upstream investment…
Shell has reached an agreement with Dansk Olieselskab ApS for the sale of A/S Dansk Shell in Denmark, which consists of the 70 thousand barrels per day Fredericia refinery and local trading and supply activities, for approximately $80 million including working capital.The transaction includes long-term agreements for the supply of…
Saudi Kayan Petrochemical Company has posted a net profit for the first time in 18 months, following five straight quarterly losses.                                                          …
Statoil ASA and Lundin Petroleum have completed their previously announced transaction, whereby Statoil has sold its entire 15 percent interest in the Edvard Grieg field for an increased shareholding in Lundin Petroleum.   The transaction also included the divestment of associated pipeline interests and a cash consideration of approximately USD…
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