IRJ – December 1 – British headquartered oil and gas major British Petroleum (BP) will sell its Canadian natural gas liquids division to Plains Midstream Canada (the Plains All American Pipeline business unit) in a deal totalling US$1.67 billion. It is expected that the transaction, part of circa $45 billion in assets that BP is in the process of ...
IRJ – November 30 –Swiss-headquartered commodities trading behemoth Glencore International has pulled out of plans to purchase a US$475 million 70 per cent stake in Peruvian Marcobre SAC from CST Mining Group Ltd., CST reports Wednesday. The Hong Kong listed copper mining group states that “not all the conditions were satisfied by the 'New Long Stop Date' (November 30)” ...
IRJ – November 30 – The board of London listed African diamond miner, Gem Diamonds Limited (LSE: GEMD), has green lit plans to expand the company’s 5.6 million tonnes per annum Letšeng mine in the Kingdom of Lesotho (“Lesotho”) by almost double its current capacity; to 10 million tonnes per annum at an estimated cost of US$280 million funded from ...
IRJ – November 30 – Aussie fears surrounding gas supply shortages were somewhat staved, Wednesday, by the penning of two new contracts by the multinational Chevron Corporation-led US$37 billion Gorgon LNG project, Western Australia. In two landmark deals for the Barrow Island mega project—fuelled by partners including Chevron, ExxonMobil and Royal Dutch Shell—state-owned power generator, Verve Energy, and power ...
IRJ – November 30 – Oil and gas services giant Wood Group (LON:WG) has bagged a well-timed first contract for its Angola-based joint venture on the eve of launching the subsidiary, Wednesday, with business partner Amílcar Nascimento, under the Wood Group Kianda moniker. The contract which coincides with the launch has been penned with BP. The Angolan partner company ...
IRJ – November 29 – Frictions raged on between Sudan and South Sudan, Tuesday, as South Sudanese Oil Minister, Stephen Dhieu Dau, claimed that Sudan’s decision to block Southern Sudan crude exports, Monday, is an “intimidation tactic”. Dau says that Sudan owes South Sudan approximately US$5 billion in arrears for shipments of crude prior to July when the ...
IRJ – November 29 – The largest iron ore play in Afghanistan will be developed by an AFISCO consortium led by state-owned Steel Authority of India ( SAIL) in a deal worth US$10.3 billion, according to comments made by mining ministry official Abdul Jalil Jumrani, Tuesday. In a deal which further cements friendly ties between both nations, the SAIL-piloted ...
IRJ – November 28 – A senior member of South Africa’s ruling African National Congress ("ANC") party told press that a report containing details set to incrementally shape the nation’s mining sector, including nationalising thereof, is to be redrafted in such a way that it can be read by party members, “not a professor.” ANC Secretary General Gwede Mantashe ...
IRJ – November 28 – Attacks carried out on Egypt’s gas pipeline supplying Jordan and Israel took place in the early hours of Monday, Sinai Peninsula, forcing the route to shut down and bringing gas transit to a halt. According to North Sinai province governor, Abdel-Wahab Mabrouk, attackers laid explosives in three separate locations around the town of el-Arish, ...
IRJ – November 25 – A Washington source has suggested that Pakistan pull out of the Pak-Iran gas pipeline project, Friday, marking the latest in U.S. steps to cut Iran out of the international energy landscape over fears that it is developing nuclear weapons capabilities. Cameron Munter, the U.S. Ambassador in Islamabad, said that the pipeline is not a ...
IRJ – November 25 –Rio Tinto and Aluminum Corp of China (“Chinalco”) have announced a joint venture titled Chinalco Rio Tinto Exploration Co. (or “CRTX”) to explore for copper in China. The agreement was announced on Friday, following mining multinational Rio’s obtainment of business registration for mineral exploration in China. The terms announced to date reveal ...
IRJ – November 25 – Exiting Libyan oil and finance minister, Ali Tarhouni, said Friday that his country is powered by “money, arms and PR”. “The voices that we see now are the voices of the elite,” he said, noting that some 90 per cent of the nation’s citizens are politically mute. “It is about time that we ...
