International

Abu Dhabi started exporting its first crude from a pipeline that bypasses the Strait of Hormuz on July 16, shipping the fuel from the neighboring sheikhdom of Fujairah to a refinery in Pakistan, according to Bloomberg.

Tarahumara Pipeline, S.de R.L. de C.V, a subsidiary of Grupo Fermaca, has been selected in a public auction by the Mexican Federal Electricity Commission (CFE) to build and operate the natural gas pipeline for the northern region of Mexico in the state of Chihuahua.

Gazprom's exports to Europe fell 12% in the first four months of 2012, calling the company's annual plans to export 150 Bcm of gas into question. Sales from January to April dropped from 58 Bcm last year to 51 Bcm this year.

Oil prices remain a threat to the fragile global economic recovery despite a recent fall, the International Energy Agency's chief economist told Reuters last month, adding the IEA remained ready to release emergency oil stocks if needed.

ENI’s subsidiary, Saipem has signed a deal to lay pipelines that will carry oil and gas from an offshore Caspian Sea field. Saipem and LUKoil, which plans to launch the Vladimir Filanovsky field by the end of 2015, haven't named the price of the contract.

Hungarian Prime Minister Viktor Orban described Nabucco as a deeply troubled project and predicted that Hungarian MOL would withdraw from the project consortium. While acknowledging that Budapest needed Nabucco to reduce dependence on Russia, Orban expressed hope for Hungary to be included in Gazprom’s South Stream project, if implemented.

NDT System & Services has been acquired by the Weissker Group, an international, mid-sized business holding based in Greiz in Thuringia in east-central Germany.

A Rigzone report says Burmese workers are building what is being called “one of the most lucrative foreign-funded development projects in the country's history.”

Fourteen companies, including Gazprom and three other Russian firms, are bidding to acquire DEPA and its fully owned subsidiary DESFA, the Greek state-controlled gas transportation systems. Additionally, Gazprom is targeting Greece’s dominant oil company, Hellenic Petroleum, part-owner of DEPA, for possible acquisition.

Pakistan authorized the Interstate Gas Systems (ISGS) to execute the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project's Gas Sale Purchase Agreement (GSPA) with Turkmenistan.

Syndicate content