The Suncor-Petro-Canada merger has amounted to a giveaway of billions by Petro-Canada shareholders, a Montreal investment firm alleges in the first major public criticism of the proposed deal. For full story, click here
Unable to find a suitable partner for manufacturing offshore oil rigs due to huge investment requirement, the state-run BHEL declared that it has decided to shelve the plans altogether. Mr K Ravi Kumar, CMD of BHEL, stated: We are abandoning offshore business, we tried our best to have collaboration but we could not get one [...]
Simon Storage Ltd. announced that it has completed the latest phase of its investment programme to deliver major improvements to pipeline systems serving Simon’s storage facilities and jetties at its Immingham Terminals located on the south bank of the River Humber. For full story, click here
UAE Minister of Energy HE Mohammed bin Dhaen Al Hamli reported that a new round of heavy oil investments will be required if the world is to avoid another cycle of high oil prices. Al Hamli stated: Such investments represent a major burden for resource-holders all of which have their own development agendas and competing [...]
Oil and Natural Gas Corp, Reliance Industries and Indian Oil Corp the nation’s biggest companies, are reported to come together for the first time to bid jointly for oil field Blocks in Venezuela’s Carabobo areas in the extra heavy oil orinoco belt which will require an investment of USD 16 to 18 billion. For full [...]
Syria announced that it will invite bids for seven heavy oil fields as early as next month in its latest attempt to attract foreign upstream investment. For full story, click here
Saudi Arabia is reported to have warned of the risks that could result from energy supply shortages unless large amounts of investment are directed to the sector. For full story, click here
Here’s the threshold below which production from the extra heavy oil sand in Canada would not give a satisfactory return on Investment. For full story, click here
Malaysia is set to invest up to $14 billion in Iran’s energy sector. For full story, click here
Investment budgets are being sharply reduced in key areas like heavy oil development in Canada, where costs are extremely high, as well as other large, high cost oil projects. For full story, click here
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