GE Oil & Gas (LSE:GEC) has been awarded a contract to supply gas turbine-driven compressors for a third natural gas train for the Tangguh liquefied natural gas (LNG) expansion in West Papua, Indonesia.
Blackstone Group LP (NYSE:BX) and ArcLight Capital Partners LLC are close to a deal to buy four power plants from American Electric Power Co. (NYSE:AEP) for US$2.1 billion.
Shell (LSE: RDSB) has announced that production has started from the Stones development in the Gulf of Mexico, which is expected to produce around 50,000 barrels of oil per day by the end of 2017.
Canadian pipeline operator Enbridge Inc. (TSX:ENB) has finalised a deal to buy Houston-based Spectra Energy Corp (NYSE:SE) for US$28 billion to create North America’s largest energy infrastructure company.
The price of oil has jumped by around 3% after Russia and Saudi Arabia reached a deal to set up a task force to review oil market fundamentals and look for ways to sustain the oil market.
Oil giant BP (LSE:BP) has announced a second production sharing contract (PSC) for shale gas exploration, development and production with China National Petroleum Corporation (CNPC).
Chevron Corp (NYSE:CVX) has signed a 10-year term supply deal with China’s ENN to supply up to 650,000 metric tonnes per year of LNG to China from its global supply portfolio.
Royal Dutch Shell Plc (LSE:RDSB), through its affiliate Shell Offshore Inc., has agreed to sell 100% of its record title interests in the Gulf of Mexico to EnVen Energy Corporation for US$425 million.
China’s largest oil company, PetroChina Co. aims to increase natural gas as a share of its production from the current 37%, according to the company's President Wang Dongjin.