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Statoil and Gassnova pick Kollsnes site for CO2 terminal

Thursday, 9 Nov 2017 09:08am EST

Nov 9 (Reuters) - Statoil Asa :‍Gassnova and Statoil have concluded that a CO2 receiving terminal will be located at premises of CCB Kollsnes​.‍Construction of full-scale project including onshore terminal is subject to Norwegian parliament making a positive investment decision, scheduled for 2019.Establishment of an onshore CO2 storage plant is part of the Norwegian authorities’ plans for developing full-scale CO2 handling in Norway.CO2 will be captured from onshore industrial plants in Eastern Norway and transported by ship from the capture area to the onshore reception plant. At this plant, the CO2 will be pumped from the ship to onshore tanks before it is sent in a pipeline and injected for permanent storage 1000-2000 metres below the seabed​.

Statoil, ExxonMobil in Brazil asset trade after auction win

Friday, 27 Oct 2017 10:30am EDT

Oct 27 (Reuters) - Statoil Asa :Reg-Statoil asa: statoil shapes and strengthens its position in the carcará oil discovery in brazil.‍consortium comprising statoil (operator, 40%), exxonmobil (40%) and galp (20%) presented winning bid (67.12% of profit oil) for carcará north block in santos basin​.‍pre-determined signature bonus to be paid by consortium is brl 3.0 billion, approximately usd 910 million. Statoil's share is usd 364 million​.‍statoil, exxonmobil and galp have also agreed a number of subsequent transactions in adjacent bm-s-8 block to align equity interests across two blocks that together comprise carcará oil discovery​.‍aggregate total potential consideration to be received by statoil in these transactions is around usd 1.55 billion and, following licensing round, potential net cash inflow to statoil is around usd 1.19 billion​.‍statoil has agreed to divest 33% out of its current 66% interest in bm-s-8 to exxonmobil for a total potential consideration of around usd 1.3 billion​.‍upfront cash payment of around usd 800 million and a contingent cash payment of around usd 500 million​.‍upon future closing of its acquisition of 10% interest in bm-s-8 held by queiroz galvão exploração e produção (qgep), statoil has agreed to divest a further 3.5% to exxonmobil and 3% to galp for a total consideration of around usd 250 million, comprising an upfront cash payment of around USD 155 million and a contingent cash payment of around USD 95 million.

Total says paid $200 million to settle tax issue in Angola

Friday, 27 Oct 2017 09:47am EDT

Oct 27 (Reuters) - Total Sa :French oil major Total <<>> paid $200 million in the third quarter to settle a tax issue in Angola, its Chief Financial Officer Patrick de La Chevardiere told analysts during a call on Friday. .Speaking after Total's third quarter results, de la Chevardiere said the company's Yamal LNG project in Russia was expected to start on time at the end of the year and was on budget..Answering questions from analysts, the CFO said Total had received a waiver on Brazil's local content rules, and expected to sanction the First Libra project FPSO soon..Commenting on uncertainties in Iran after U.S. President Trump decertified the Iran nuclear deal, he said Total was carrying on with activities in Iran despite and clarity expected in coming months..He said the group was proceeding with plans to announce tenders for its Iran South Pars gas project and the main contract would be awarded at beginning 2018 when there would be clarity from the U.S..Asked about Total's interest in Iraq, he said the company will not accept terms refused by competitors in Iraq's Majnoon field..He said after completing its $10 billion divestment programme, Total plans to sell high breakeven and non-core assets for around $1 billion per year going forward at the right price..Source text for Eikon: [ID:].

Total says paid $200 million to settle tax issue in Angola

Friday, 27 Oct 2017 09:47am EDT

Oct 27 (Reuters) - Total Sa :French oil major Total <<>> paid $200 million in the third quarter to settle a tax issue in Angola, its Chief Financial Officer Patrick de La Chevardiere told analysts during a call on Friday. .Speaking after Total's third quarter results, de la Chevardiere said the company's Yamal LNG project in Russia was expected to start on time at the end of the year and was on budget..Answering questions from analysts, the CFO said Total had received a waiver on Brazil's local content rules, and expected to sanction the First Libra project FPSO soon..Commenting on uncertainties in Iran after U.S. President Trump decertified the Iran nuclear deal, he said Total was carrying on with activities in Iran despite and clarity expected in coming months..He said the group was proceeding with plans to announce tenders for its Iran South Pars gas project and the main contract would be awarded at beginning 2018 when there would be clarity from the U.S..Asked about Total's interest in Iraq, he said the company will not accept terms refused by competitors in Iraq's Majnoon field..He said after completing its $10 billion divestment programme, Total plans to sell high breakeven and non-core assets for around $1 billion per year going forward at the right price..Source text for Eikon: [ID:].

Suncor expects Fort Hills project to operate at 90 pct capacity by Q4 2018

Thursday, 26 Oct 2017 10:37am EDT

Oct 26 (Reuters) - Suncor Energy : :CEO says company has made progress towards resolving commercial dispute with Fort Hills partner Total SA <<>>.Expects to be operating 190,000 bpd Fort Hills oil sands plant at 90 percent capacity by this time next year .Suncor CEO expects 2018 capital spending to be in C$4.5 billion to C$5 billion range.CEO says unit 1 upgrader at oil sands base plant will undergo major turnaround next year, maintenance also planned at Edmonton refinery.CEO says looking at using automated vehicles at Fort Hills oil sands plant to help reduce operating costs.Says once Fort Hills operating, company will sell nearly 200,000 bpd of its production to third parties.

Oando responds to Securities and Exchange Commission's findings​

Wednesday, 25 Oct 2017 01:05am EDT

Oct 25 (Reuters) - Oando Plc :‍OANDO PLC'S POSITION ON SECURITIES AND EXCHANGE COMMISSION'S ALLEGED FINDINGS​.‍SEC COMMISSION FINDS THAT GCEO RESPONSIBLE FOR FIXING REMUNERATION OF OTHER EXECUTIVE DIRECTORS IS IN VIOLATION OF PART B, 14.3 OF SEC CODE."OANDO IS OF THE VIEW THAT THE SEC’S DIRECTIVES ARE ILLEGAL, INVALID AND CALCULATED TO PREJUDICE THE BUSINESS OF THE COMPANY"‍​.‍COMMISSION FINDS LAST BOARD EVALUATION OF OANDO PLC WAS DONE BY KPMG IN 2012, A VIOLATION OF PART B, 15.1 OF SEC CODE OF CORPORATE GOVERNANCE​.

Shell divests from Norway's Polarled pipeline, cuts Nyhamna stake

Friday, 20 Oct 2017 04:51am EDT

Oct 20 (Reuters) - Royal Dutch Shell Plc :Says agreed to sell its 9 percent stake in the Polarled gas pipeline venture and a 3 percent stake in the Nyhamna gas processing plant to Cape Omega for an undisclosed sum.Says Shell will retain a 12.03 percent stake in Nyhamna.Says Shell's holding in the Ormen Lange field, supplying gas to Nyhamna, will remain unchanged at 17.8 percent.Cape Omega is owned by private equity investment firm HitecVision.Polarled pipeline expected to start transporting gas from Norway's Arctic Aasta Hansteen field to Nyhamna in 2018.

Total says Maersk Oil $3 bln decommissioning liabilities taken into account

Monday, 21 Aug 2017 08:47am EDT

Aug 21 (Reuters) - Total :CEO Patrick Pouyanne says the company took account of about $3 billion decommissioning liabilities linked to Maersk Oil deal valuation..Total <<>> is buying Maersk's oil and gas business in a $7.45 billion deal which the French energy major said would strengthen its operations in the North Sea and boost earnings and cash flow. nL8N1L70XF."We took all rights and obligations of the portfolio. In terms of cash flow, it is limited in impact on the first years and postponed beyond 2035-2040, so the decommissioning liabilities are fully taken into account and there are no surprises," Pouyanne told analysts in a call. .

Petronas Lubricants says IPO an option but not soon

Thursday, 20 Jul 2017 04:22am EDT

July 20 (Reuters) - Petroliam Nasional Bhd [RIC:RIC:PETR.UL] :Petronas Lubricants International Group Chief Commercial Office Giuseppe Pedretti told briefing in Bangkok:.IPO still an option but probably not for next three years.Expects strong growth in oil retail market.Sees 10 percent growth in global sales volume year on year.Says Syntium Diesel strong performer in Asia, with China key driver, also South America.Says plant in China operational this year.

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