The UAE government had announced that it will continue to invest in the oil and gas sector to increase oil production to 3.5 million barrels per day (mbpd) by 2017. The country currently produces about 2.8 million barrels per day.
The Nippon Foundation, a Japanese philanthropic organization that promotes social innovation, has said it is willing to establish a US$100 million endowment fund to support expansive and innovative activities at the World Maritime University (WMU).
In a bid to support President Joko “Jokowi” Widodo’s lofty maritime axis plan, the Financial Services Authority (OJK) has instructed banks to increase credit for the sector by 50 per cent to 128 trillion rupiah (S$13.3 billion) this year, an official says.
The UAE’s investments in the maritime industry are expected to reach $66 billion (Dh242 billion) in the next three years, according to industry estimates released at the Dubai Maritime Summit kicked off on Monday.
Government is considering a special policy dispensation to promote oil and gas investments in the North East region, said UP Singh, additional secretary Ministry of Petroleum & National Gas.
Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced that its Board of Directors has approved a capital program of approximately $2.1 billion in 2016, which represents another record capital budget plan for the Company.
Wood Group has won a new contract worth approximately $90 million to deliver services to one of the world's leading blue-chip international oil companies (IOC) in Iraq. Wood Group PSN (WGPSN) will provide project management for an onshore facility under the three year contract, which is effective immediately.
The Alberta Securities Commission will hear arguments today into whether Canadian Oil Sands should be allowed to keep its defence against hostile takeovers.
The combined entity hopes to withstand falling oil prices by pooling efforts in the Falkland Islands. Two of the biggest oil and gas explorers in the Falklands Islands are to pool their resources in a merger.
Dubai-based oil and gas company, Dragon Oil is in talks to invest in a pipeline that would deliver natural gas from Turkmenistan to India.
Trafigura disclosed $4.3bn (€3.98bn) in oil-related payments to governments in 2013, as part of increased transparency by the third-largest independent OIL TRADER.