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SapuraCrest Petroleum Bhd gets $873 mln contract
Malaysian energy services firm SapuraCrest Petroleum Bhd has won a 3 billion ringgit ($873 million) contract from a unit of state oil firm Petronas [PETR.UL], SapuraCrest said on Friday.
The deal came one day after the company won a 200 million ringgit ($58.2 million) oil pipeline contract from the Malaysian unit of U.S. energy giant Exxon [...]
Samudra to start using second drilling rig in Q4
Kejuruteraan Samudra Timur Bhd (KSTB) expects its second land-drilling rig to be operational by the fourth quarter, said executive director Datuk Chee Peck Kiat.
“It will be based in the Middle East or South-East Asia,” he said after the company AGM yesterday. The first unit is currently mobilised in India.
Chee said the second rig [...]
Deleum shares up on bullish O&G sector
Oil support services provider Deleum Bhd, which made an impressive debut on Bursa Malaysia main board last Friday, continued on its winning streak yesterday, with its shares putting on RM1.22, or 29.2%, and closing at the day’s high of RM5.40.
Analysts said the growing demand in the oil and gas (O&G) sector and expectations that [...]
OGA 2007 To Boost Malaysian Oil And Gas Industry
The local oil and gas exploration and production industry is expected to receive a boost from the 11th Asian Oil, Gas and Petrochemical Engineering Exhibition (OGA) 2007 which will held here from June 13 to 15.
The event is expected to draw more than 800 companies from over 50 countries, including the United States, the United [...]
Exxon Mobil exec retiring after lengthy career
An Exxon Mobil Corp. division president is retiring after 36 years with the company.
Philip J. Dingle, 58, president of Houston-based Exxon Mobil Gas & Power Marketing Co., is retiring effective Oct. 1, the company said Wednesday.
The Irving-based oil giant has appointed Andy P. Swiger as the new president of the segment. He will become [...]
Chadian president takes on powerful oil interests to reduce his political isolation
N’DJAMENA, Chad (AP) – President Idriss Deby’s decision to expel two international oil companies and take more control over oil revenues marks the latest effort in Chad’s seemingly never-ending attempts to rewrite the rules governing the country’s young oil industry.
Deby’s actions may be inspired by the example of Venezuela and Mauritania, which have recently re-negotiated [...]
Chad minister defends expulsion of Chevron and Petronas
Kuala Lumpur: A Chad minister denied yesterday that his country’s expulsion of two foreign energy companies was aimed at winning greater control of its oil resources.
Chad ordered US giant Chevron and Malaysia’s Petronas on Saturday to leave the country for failing to honour tax obligations.
“The solution is to pay their tax,” Mahamat Bechir Okormi, the [...]
Shell, Esso post strong second quarter profits
The two oil majors listed on Bursa Malaysia reported large increases in their second quarter (Q2) results.
Shell Refining Co Bhd’s net profit surged 77% to RM145.8mil for its Q2 ended June 30 compared with the same quarter last year. The latest Q2 profit works out to earnings per share (EPS) of 48.6 sen [...]
Black gold dreaming
When Chad became an oil producer its needy people anticipated benefiting from the incredibly profitable industry. Instead, the World Bank has frozen the country’s wealth in London bank accounts. Edmund Sanders reports.
When Chad became an oil producer its needy people anticipated benefiting from the incredibly profitable industry. Instead, the World Bank has frozen the country’s [...]
