This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a charterparty.
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.
Iran is discussing a plan to lay a $4.5 billion subsea pipeline to export natural gas to India, but the proposal of another pipeline between the two countries through Pakistan is off the table due to waning Indian interest, National Iranian Gas Export Company's managing director Alireza Kameli said.
Iran has agreed a $3 billion contract with a consortium of Indian companies to develop the Farzad B gas field in the Persian Gulf, according to the Mehr news agency.
Royal Dutch Shell Plc (NYSE: RDS.A) on Dec. 3 won approval from Australia's Foreign Investment Review Board for the company's proposed $70 billion takeover of BG Group Plc, leaving China as the last regulatory hurdle to the deal.
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.