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Chevron to invest $6billion in Stampede project:

Oil major Chevron will invest an estimated $6billion in the development of the Hess Corporation operated Stampede project in the Gulf of Mexico.

The company’s subsidiary, Union Oil Company of California (Union), will run the deepwater subsea development which will be tied back to a newly constructed Tension Leg platform.


Brent holds above $86:

Brent oil prices held steady above $86 a barrel on Wednesday as investors awaited guidance from the Federal Reserve on US monetary policy later in the day and after industry data on US inventories came in more or less as expected.Investors were also awaiting data on closely-watched stockpiles from…

HMRC to drop IR35 Business Entity Tests:

The IR35 Business Entity Tests will be dropped from 6 April next year, Her Majesty’s Revenue & Customs (HMRC) has announced.

HMRC’s action follows a review by the IR35 Forum,  in which the tests – designed for businesses to take to self-assess their risk of IR35 – were found to…

Chevron achieves first gas from Bangladesh project:

Chevron today confirmed its Bangladesh subsidiary started natural gas production from its Bibiyana Expansion Project in the northeastern part of the country.

The announcement comes after a major investment injection expanded the existing plant to process increased natural gas volumes, developed additional wells and produced a new enhanced gas liquid…

EnQuest selects Technip for large subsea contract:

Technip was awarded by EnQuest earlier this year a large engineering, procurement, installation and construction (EPCI) contract for the Kraken development located in the North Sea, 400 kilometers North-East of Aberdeen and 130 kilometers East of Shetland, at a water depth of approximately 120 meters.

The contract covers various project…

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