Carlyle Group has entered an agreement with Port of Corpus Christi Authority to build the first onshore crude oil loading-servicing terminal at Harbor Island, US.
The terminal will provide services for fully laden very large crude carriers (VLCCs) with a transportation capacity of two million barrels of oil. It will include two loading docks and crude oil storage tanks developed on land belonging to Carlyle.
The crude oil terminal is expected to be operational by 2020 and will make the global markets more accessible for US crude oil producers.
Carlyle Group is a US-based private equity company, while Port of Corpus Christi Authority is the port’s environmental and management regulatory organisation.
Eni has signed an agreement with Sonatrach to purchase a 49% stake in three oil concessions in Algeria.
Covering an 8,500km² area at the onshore North Berkine Basin, the three oil concessions include Sif Fatima II, Zemlet El Arbi, and Ourhoud II.
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By GlobalDataSonatrach will hold a 51% stake in the concessions, while the remaining 49% will be held by Eni. The two companies have also agreed upon carrying out exploration and development activities on the blocks, which are estimated to hold145 million barrels of oil equivalent.
Eni is an Italy-based oil and gas company, while Sonatrach is an Algerian gas exploration company.
Chevron has announced plans to acquire the Petrobras-owned Pasadena Refining System located at Houston Ship Channel, Texas, US.
Upon acquisition, Chevron will upgrade the refinery, which has been non-operational since a fire broke out in its coking unit in 2011. When the improvements are complete, the refinery is expected to add more than 110,000 billion barrels of oil a day to Chevron’s total production.
Chevron is a US-based energy company, while Petrobras is a Brazilian petroleum company.
The acquisition will enable Chevron to expand its oil and gas business.
NuStar Energy has signed a $270m agreement with Inter Terminals to divest its stakes in seven storage terminals.
Inter Terminals will acquire six gas facilities in the UK and one in Amsterdam by the end of the year, under the agreement.
Wells Fargo Securities is the financial adviser for the transaction.
NuStar Energy is a US-based hydrocarbons terminal and pipeline operator, while Inter Pipeline subsidiary Inter Terminal is a UK-based bulk liquid storage provider.
TechnipFMC has been awarded an engineering, procurement and construction (EPC) contract by the Middle East Oil Refinery (MIDOR) for a refinery expansion project in Alexandria, Egypt.
Expected to commence in 2022, the expansion project will increase the capacity of the refinery by 60% to 160,000 barrels of crude oil a day.
Under the contract, Technip will provide debottlenecking services for the existing units, a new vacuum distillation unit, a crude distillation unit and a hydrogen production facility for the refinery.
Technip was also awarded a design contract for the Assiut refinery hydrocracker complex in Egypt.
Based in France, Technip is a project management, engineering and construction company, while MIDOR is an Egyptian provider of crude oil refining and petroleum processing services and a subsidiary of Egyptian General Petroleum.
