Europe
Shell mulls sale of downstream businesses in Italy
The potential sale is consistent with Shell’s strategy to concentrate its global downstream businesses where it can be most competitive, according to company officials. Recent examples include the sale of refineries in the UK and Germany and downstream businesses in Finland and Sweden.
Uganda seals deal to build refinery, export pipeline
The agreement to build a refinery with a capacity of just 30,000 bpd was reached following a meeting on Saturday between Mr. Museveni and representatives of the oil companies. It follows a warning from Total in February that failure to include an export pipeline in the plan would stall the development.
IEA cuts global oil demand outlook, warns on supply
The downward revision by the Paris-based consumer group reflects similar moves by other industry forecasters as concerns over the global economy continue to weigh on demand expectations. The decline reflects very weak demand from industrialized countries, particularly in Europe.
EMGC '13: Gas infrastructure development critical for Eastern Mediterranean
Day 2 of EMGC’s technical program addressed regional infrastructure developments in the morning, while the afternoon speakers focused on resource development in Cyprus and Israel.
Algeria to double refining capacity within five years
Algeria's state-run energy group, Sonatrach, has said it plans to invest $80 billion in oil and natural gas projects until 2016 as it seeks to expand the gas resource base, boost refining and petrochemical capacity and curb dependence on imported fuel. The nation produced 1.16 million bpd of oil last month.
Global chemical industry to see modest growth, driven by M&A activity
In its 2013 outlook, Deloitte finds that the financial influences of globalization, market maturation in China, and raw material trends will position M&A as an effective strategic tool.
Shell offers to sell stake in top Czech refinery
"We received an offer from Shell and it's led to negotiations," Industry Minister Martin Kuba said. The minister is also said that Shell offered its stake to the two other shareholders in the refinery, which have an option to purchase the stake before it's offered to third parties.
EMGC '13: Gas gurus discuss resource potential of Eastern Mediterranean
During EMGC’s Tuesday technical program, executives from operating, service and technology companies shared insight into development opportunities and their regional implications.
EMGC '13: Natural gas executives examine benefits of business in Cyprus
Exploration, drilling and production projects are underway, and plans for gas processing and transportation facilities are in progress. Gas exports could commence as early as 2019.
Total to sell French TIGF gas pipeline network
TIGF was put up for sale last autumn as part of a wider strategy to sell €20 billion of assets by 2015 to help boost its cash flow and finance substantial investments. Snam, a gas transportation and storage company, holds 45% in the consortium, with GIC and EDF owning 35% and 20%, respectively.
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