Qatar Petroleum to absorb Tasweeq | Oil & Gas Journal

State-owned Qatar Petroleum will absorb the separate but also state-owned Qatar International Petroleum Marketing Co. Ltd. (Tasweeq) in a merger to be completed by yearend.

Tasweeq markets “regulated products” including LPG, sulfur, field condensates, and refinery products. Under an agency agreement with QP, it also markets “nonregulated” crude and GTL entitlements.

More in General Interest

Rain appointed interim CEO of PetroShale

David Rain was appointed interim chief executive officer of PetroShale Inc. while a search is held for a permanent replacement for Mike Wood, president and chief executive officer, who has left the company to pursue other opportunities.

Seplat to acquire Nigerian producer Eland

Seplat Petroleum Development Co. PLC, Lagos and London, has agreed to buy share capital of Eland Oil & Gas, an independent oil and gas company focused on Nigeria and based in Aberdeen, for £382 million cash.

EPA makes supplemental proposal on calculating renewable fuel volumes

The US Environmental Protection Agency sought additional comments to establish cellulosic biofuel, advanced biofuel, and total renewable fuel volumes for 2020 and the biomass-based diesel volume for 2021 under the federal renewable fuel standard (RFS).

MARKET WATCH: Crude oil benchmarks fall on global growth concerns

Light, sweet crude oil prices dropped below $53/bbl on Oct. 15 on the New York market while Brent crude oil prices settled under $59/bbl on concerns about global growth.

Lukoil enters UAE with 5% Ghasha interest

Lukoil has entered the United Arab Emirates by signing an agreement with Abu Dhabi National Oil Co. to acquire a 5% interest in the Ghasha Concession offshore Abu Dhabi.

Aramco, Gazprom Neft sign joint-study MOU

Saudi Aramco and Gazprom Neft have signed a memorandum of understanding to exchange technical knowledge for oil applications and identify technical studies of interest to both companies.

MARKET WATCH: Crude oil benchmarks fall as trade talk details fall short

Oil benchmark prices on Oct. 14 slipped from gains made on Oct. 11 with light, sweet crude oil prices on the New York market and Brent crude oil prices in London both falling more than $1/bbl.

Neptune to buy interests off UK and Norway

Neptune Energy has agreed to buy Edison Exploration & Production’s upstream assets offshore the UK and Norway from Energean Oil & Gas, which has a conditional agreement to acquire Edison E&P.

California laws aim to cut fossil fuel use

California has six new laws that Gov. Gavin Newsom says makes the state “a leader in the fight to transition away from fossil fuels.” The law responds to moves by the Trump administration to boost federal oil and gas leasing in the state.

Santos buys ConocoPhillips northern Australia assets

Santos signed a deal to buy the northern Australian assets of ConocoPhillips for $1.39 billion. In addition, Santos will pay a further $75 million contingent on a final investment decision being taken on the Barossa gas field development in the Timor Sea.

Parsley Energy to acquire Jagged Peak for $2.27 billion

Parsley Energy Inc. has agreed to acquire Jagged Peak Energy Inc. in an all-stock transaction valued at $2.27 billion, including Jagged Peak’s net debt of $625 million as of June 30.

MARKET WATCH: Crude oil benchmarks up on Iranian tanker news

Oil benchmark prices traded higher on Oct. 11 with light, sweet crude oil prices on the New York market and Brent crude oil prices in London both increasing more than $1/bbl.

US Tenth District 3Q energy activity down ‘moderately’

The Federal Reserve Bank of Kansas City’s third-quarter Energy Survey revealed that energy activity in the Tenth District decreased moderately and “expectations for future activity continued to decline.”

191011 Equinor Hywind Windfarm

Equinor, partners make FID on Hywind Tampen development

Equinor and its partners in the Snorre and Gullfaks developments have made a final investment decision for the Hywind Tampen offshore wind farm project in the Norwegian North Sea.