Oil / Gas Exploration / Production

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Interra Resources Ltd's Goldwater KP Pte. Ltd Announces Incorporation Of Subsidiary

Monday, 15 Jul 2013 05:25am EDT

Interra Resources Ltd announces that the Company’s wholly-owned subsidiary, Goldwater KP Pte. Ltd. (GKP), has incorporated a subsidiary known as Mentari Pambuang Internasional Limited (MPIL) under the laws of the British Virgin Islands with a total issued and paid-up capital of USD100. GKP holds 49% of the issued and paid-up share capital of MPIL. The other shareholders of MPIL are Energy Alam Mandiri Ltd and Mentari Abdi Nusa Limited, which respectively hold 10% and 41% of the issued and paid up capital of MPIL.

Hibiscus Petroleum Berhad Announces Incorporation Of Wholly-Owned Subsidiary In Labuan

Thursday, 11 Jul 2013 08:00pm EDT

Hibiscus Petroleum Berhad announced that Oceania Hibiscus Sdn Bhd, its wholly-owned subsidiary, has on July 12, 2013 incorporated a wholly-owned subsidiary company in Labuan under the Labuan Companies Act, 1990, namely Althea Corporation Limited, with an issued and paid-up share capital of 1 ordinary share of AUD1.00 each. The principal activity of Althea is investment holding and as of the date of this announcement, is a dormant company.

Oil and Natural Gas Corporation Ltd's ONGC Videsh Ltd Withdraws Press Statement On Mozambique Deal Along With Oil India Ltd-Business Standard

Monday, 10 Jun 2013 11:12am EDT

Business Standard reported that After announcing a major deal, Oil and Natural Gas Corporation Ltd's ONGC Videsh Ltd withdraws press statement that said it along with Oil India Ltd will buy Videocon Industries Ltd's 10% stake in Mozambique gas field for $2.475 billion. The acquisition is to be done through a joint venture of OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC) and OIL, the earlier statement issued by ONGC said. OVL will hold 60% stake in the joint venture while OIL will have the remaining 40%.

ONGC Videsh Ltd And Oil India Ltd To Buy Stake In Mozambique Gas Field For-INR140 Billion-Business Standard

Monday, 10 Jun 2013 08:44am EDT

Business Standard reported that ONGC Videsh Ltd and Oil India Ltd have agreed to buy a 10% stake in a Mozambique oil and gas field from Videocon Industries for about INR140.00 billion. The acquisition will be implemented through a new entity, in which ONGC Videsh and Oil India are expected to hold 60% and 40% stakes, respectively, said a statement from ONGC.

YPF SA, Pluspetrol Resources Corporation BV And Pluspetrol Energy SA Sign Agreement To Divide Pluspetrol Energy SA And Allocate Part Of Its Assets In New Company

Thursday, 6 Jun 2013 12:26pm EDT

YPF SA (YPF) announced that on June 4, 2013 the Company, Pluspetrol Resources Corporation BV (PPRC) and Pluspetrol Energy SA (PPE) signed an agreement to divide PPE, without dissolving, and allocate part of its assets in a newly created company. Consequently, YPF will not hold a stake in PPE and PPRD will not receive the shares of the new company. The total amount of shares will be held by YPF and other company controlled by YPF. In addition, the Company announced that on June 5, 2013 the shareholders of PPE approved the division and creation of the new company.

Mitsubishi Electric Corp Could Open Plant in Romania-AGERPRES

Thursday, 9 May 2013 08:00pm EDT

AGERPRES reported that Mitsubishi Electric Corp is assessing the possibility of opening a plant in Romania, depending on the market demands, according to an Economy Ministry of Romania release remitted on May 9, 2013. Economy Minister Mr. Varujan Vosganian met on May 9, 2013 representatives of the management of Mitsubishi Electric Corp. The Company’s representatives mentioned they had been present on the Romanian market only through intermediary companies with a reduced market share of about USD 3 million and they wanted to enter this market directly, by opening a subsidiary. Mitsubishi Electric Corp also aims to promote the air conditioning appliances for the industrial sector and for household use, the infrastructure of visual information systems, the industrial mechanizations, the semiconductors and the auto parts. Minister Varujan Vosganian underscored the support that the Ministry can grant to some investment projects in production activities, by facilitating the purchase/rental of production spaces in the industrial parks and even fiscal facilities for investments.

Statoil ASA and BG Group PLC Plan East African Liquefied Natural Gas (LNG) Terminal-Reuters

Monday, 18 Mar 2013 11:04am EDT

Reuters reported that following Statoil ASA's new find offshore Tanzania of 4 trillion-6 trillion cubic feet (tcf) of gas, the Company and Britain's BG Group PLC plan a USD 10 billion East African liquefied natural gas (LNG) terminal for exports to Asia. To allow exports of the fuel there will be a need for plants to turn gas into freezing liquid for transport by ship to major markets.

PetroEnergy Resources Corp's Subsidiary Incorporates PetroWind Energy Inc.

Wednesday, 6 Mar 2013 07:00pm EST

PetroEnergy Resources Corp announced that the Securities and Exchange Commission has approved on March 6, 2013, the incorporation of PetroWind Energy Inc. (PWEI), a wholly owned subsidiary of PetroGreem Energy Corporation (PGEC). PWEI has been organized to undertake PGEC's renewable energy projects. PGEC is a wholly owned subsidiary of the Company.

Ganger Rolf ASA and Bonheur ASA's Bold Tern Ltd. Takes Delivery of "Bold Tern" New Build

Monday, 18 Feb 2013 02:58am EST

Ganger Rolf ASA announced that Bold Tern Ltd., a wholly owned subsidiary of Fred. Olsen Windcarrier AS, which is indirectly owned on a 50/50 basis by Bonheur ASA and Ganger Rolf ASA, has taken delivery of the new build "Bold Tern" from the Lamprell Shipyard in Dubai. The "Bold Tern" is the second of two self-elevating vessels for installation of offshore wind turbines and associated equipment delivered from the yard. The "Brave Tern" was delivered in October 2012. Both vessels will be operated through Fred. Olsen Windcarrier to provide transport and installation services to the expanding offshore wind markets. The "Bold Tern" will shortly mobilize to perform its first contract.

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