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News Archive for: July 2012

How the shale boom is causing a drop in the NGL price:

The shale oil boom is causing a steep price drop in Natural Gas Liquids (NGLs) in North America, hurting gas producers.

Natural Gas Liquids are the raw, associated gases and liquids that come up along with oil and natural gas from the well. NGLs are very important-vital even-now for regular,…

Technip awarded substantial UK North Sea contract:

Technip was awarded by Ithaca Energy (UK) Ltd an EPIC(1) subsea contract for the Greater Stella Area (GSA) development, located 280 kilometers East-Southeast of Aberdeen, Scotland at a water depth of approximately 90 meters.

Technip’s operating center in Aberdeen will execute the contract, which is scheduled to be completed in…

Chevron to expand Bangladesh gas project:

US supermajor Chevron has announced plans to expand its Bibiyana natural gas field in north-west Bangladesh.

The new project will include expansion of the gas plant to process increased natural gas volumes from the Bibiyana field, additional development wells, and an enhanced gas liquids recovery unit.

Chevron stated that it would…

Tax break ‘would bring massive investment to North Sea oil fields’:

THE Treasury must set the right decommissioning tax breaks if the North Sea is going to successfully compete with East Africa and North America for foreign investment, oil and gas industry experts have warned.

Overseas investors and private equity firms are known to be circling UK waters following last week’s…

The UK government can’t afford to say no to China’s North Sea oil deals:

State-controlled energy giant CNOOC last Monday unveiled a $15.1bn (£9.7bn) bid for Canada’s Nexen, the second biggest oil producer in the North Sea. If successful, the takeover will be China’s largest ever foreign investment.

That same day, Chinese refiner Sinopec said it would pay $1.5bn for a 49pc stake in…

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