Investment & finance

Nicholls Transport

Nicholls Transport has opened an LNG refuelling station at its Kent, UK base. Opened together with Gasrec, the station will be used to support an initial order for 10 Stralis NP 460 6×2 tractor units from local dealer Haynes Trucks. Nicholls follows a steady line of major own-account and 3PL fleets in embracing a cleaner …

U.S.

Oil spiked as tensions in the Middle East flared after a U.S. strike near Baghdad international airport killed a top Iranian general. Futures in New York and London surged more than 4% after the attack. The strike killed Qassem Soleimani, the Iranian general who led the Revolutionary Guards’ Quds force, according to two people familiar …

oil prices

At December’s meeting in Vienna, OPEC plus agreed production cuts of 500,000 barrels a day for the first quarter of 2020. This is over and above the production cut of 1.2 million b/d (m b/d) announced a year ago. Furthermore, Saudi Arabia continues to shoulder most of the extra voluntary cuts in output, in an …

Barnett shale assets

Kalnin Ventures announced that an affiliate of its investment vehicle BKV Oil & Gas Capital Partners, has entered into a Purchase and Sale Agreement to acquire Devon Energy’s assets in the Barnett shale. The expected closing date is in 2020, subject to customary closing conditions, and the overall transaction is worth $770 million. The transaction …

equinor

The Johan Castberg partners – consisting of Equinor, Vår Energi, and Petoro – have studied a possible development of a downscaled ship-to-ship oil transfer terminal at Veidnes in Finnmark county in North Norway, and have concluded that the costs of constructing a terminal would be too high. Equinor informed on Friday that, due to the …

Maersk

Offshore drilling contractor Maersk Drilling has signed agreements with Halliburton and Petrofac to collaborate on the exploration program to be delivered under Maersk Drilling’s master alliance agreement with Seapulse. Maersk Drilling and Seapulse signed the master alliance agreement in December 2018 under which Maersk Drilling is responsible for providing fully integrated drilling services, including the …