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Cenovus Energy Inc. has completed the purchase of a crude-by-rail transloading facility in Bruderheim, Alta., from Canexus Corp. Both companies are based in Calgary.

Posted: September 1, 2015, 6:48 pm

Total SA has agreed to sell its service-station network and commercial sales, supply, and logistics properties in Turkey to Turkish conglomerate Demiroren Holding for about $356 million.

Posted: September 1, 2015, 5:03 pm

Ajax Resources LLC, a newly formed exploration and production company backed by private equity firm Kelso & Co., has agreed to acquire all interest in Yellow Rose field belonging to Houston-based W&T Offshore Inc. for $376 million.

Posted: September 1, 2015, 4:58 pm

EIM Capital, a private equity fund in Mexico City, announced a long-term partnership with an affiliate of American Energy Partners LP (AEP) of Oklahoma City to explore for unconventional resources in Mexico although financial terms were not disclosed.

Posted: September 1, 2015, 3:38 pm

The price for light, sweet crude oil for October delivery regained momentum after stalling briefly on the New York market Aug. 31 to settle above $49/bbl, hitting the highest closing price in nearly 6 weeks and marking the third consecutive day of an oil-price rally.

Posted: September 1, 2015, 2:58 pm

Rand Corp. released two energy workforce development studies commissioned by the US Department of Energy’s National Energy Technology Laboratory in Morgantown, W.Va., on Aug. 31.

Posted: September 1, 2015, 2:38 pm

Chris Kendall has been named chief operating officer of Plano, Tex.-based independent Denbury Resources Inc., assuming responsibilities lately handled by Pres. and Chief Executive Officer Phil Rykhoek.

Posted: September 1, 2015, 2:23 pm

An investigation is under way into a fire that occurred early on Aug. 29 at Syncrude Canada Ltd.’s upgrader in the Mildred Lake oil sands production area, about 40 km north of Fort McMurray, Alta.

Posted: August 31, 2015, 6:19 pm

The White House quietly refused to rule out oil and gas development in Alaska as US President Barack Obama, Secretary of State John F. Kerry, and other top officials prepared to participate in a two-day Arctic issues conference Aug. 31 and Sept. 1 in Anchorage with other dignitaries from as many as 20 other countries.

Posted: August 31, 2015, 4:49 pm

The architect of a UK strategy to boost offshore oil and gas work has called on the government and industry to apply “clever thinking to incentivize investment.”

Posted: August 31, 2015, 4:33 pm

The crude oil price for October delivery climbed more than $2/bbl on the New York market Aug. 28 to settle above $45/bbl, ending a volatile trading week in which light, sweet crude oil prices gained nearly 12% during a week that started out with multiyear lows before rebounding steeply.

Posted: August 31, 2015, 3:43 pm

Senate liberals made motivations clear when they demanded that the US Securities and Exchange Commission enhance requirements for the disclosure of risks associated with oil and gas drilling.

Posted: August 31, 2015, 3:25 pm

Encana Oil & Gas (USA) Inc., a wholly owned subsidiary of Encana Corp., has agreed to sell its Haynesville natural gas assets in northern Louisiana to GEP Haynesville LLC, a joint venture formed by GeoSouthern Haynesville LP and funds managed by Blackstone Group LP's GSO Capital Partners LP, for $850 million.

Posted: August 31, 2015, 3:24 pm

Development of a shale-gas industry in Northern Territory could drive significant long-term economic growth and generate as much as $1 billion (Aus.) of government revenue, according to recent study by Deloitte Access Economics commissioned by the Australian Petroleum Production & Exploration Association.

Posted: August 31, 2015, 3:22 pm

The Alberta Energy Regulator on Aug. 28 ordered Nexen Energy ULC to shut 95 pipelines at its Long Lake oil sands operations due to noncompliance in pipeline maintenance and monitoring. The lines carry crude oil, natural gas, salt water, fresh water, and emulsion.

Posted: August 31, 2015, 3:19 pm

Uganda's government has granted approval to 16 companies to bid on exploration rights for six blocks in the nation's Albertine Graben region.

Posted: August 31, 2015, 3:17 pm

Just 5 companies submitted 33 bids on 33 tracts in Gulf of Mexico western planning area Lease Sale 246, the US Bureau of Ocean Energy Management (BOEM) reported following the event in New Orleans on Aug. 19. The sum of apparent high bids totaled just $22,675,212.

Posted: August 31, 2015, 3:16 pm

In its August Oil Market Report the International Energy Agency's forecast shows stronger-than-anticipated global oil demand and non-OPEC supply growth swinging into contraction next year.

Posted: August 31, 2015, 3:05 pm

Establishing difficult goals can be worthwhile if contradictions aren't so extreme that the goals become ridiculously impossible. It's still not certain whether the Obama administration avoided this pitfall when it proposed tougher methane emissions requirements for more of the oil and gas industry on Aug. 18.

Posted: August 31, 2015, 2:57 pm

Fossil fuel interests, conservative think tanks, and groups funded by billionaires Charles and David Koch are fiercely fighting a growing wave of alternative energy in the US, President Barack Obama told participants at a clean energy conference in Las Vegas on Aug 24.

Posted: August 31, 2015, 2:49 pm

Two political celebrities in the US seem able to say anything about energy, no matter how outrageous, with impunity. One of them, of course, is President Barack Obama.

Posted: August 31, 2015, 2:44 pm

For the majority of US small and midsized exploration and production companies, credit secured by liens on their assets represents the best way to get debt capital, according to industry analysts at Raymond James Financial Inc. Loans are backed by reserves valued by oil prices. As prices fall, collateral value falls as well.

Posted: August 31, 2015, 2:35 pm

International news for oil and gas professionals

Posted: August 31, 2015, 5:00 am

The US Environmental Protection Agency and Army Corps of Engineers began to implement their controversial Waters of the United States (WOTUS) rule in all but 13 states on Aug. 28 after federal district court judges in North Dakota and West Virginia issued conflicting orders.

Posted: August 28, 2015, 8:11 pm

A presidential decision on TransCanada Corp.’s cross-border permit application for its proposed Keystone XL crude oil pipeline is not imminent, White House Press Sec. Josh Earnest said.

Posted: August 28, 2015, 6:02 pm

The earliest possible construction start for the Mackenzie Gas Project, which would connect natural gas fields in the Canadian Arctic with northwestern Alberta, is 2022, according to a request by project sponsors for an extension in federal approval.

Posted: August 28, 2015, 5:54 pm

Tap Oil Ltd. reported its entry into Myanmar following the signing of the production-sharing contract for shallow-water Block M-7 in the Moattama basin offshore Myanmar. Tap holds 95% participating interest in the block and has assumed operatorship.

Posted: August 28, 2015, 5:47 pm

A relatively light hurricane season anticipated for 2015 and an overall decline in the Gulf of Mexico’s share of US crude oil and natural gas production both serve to minimize the risk of supply disruptions, the US Energy Information Administration noted in its Aug. 28 energy update.

Posted: August 28, 2015, 4:26 pm

Rosneft Group unit Rosneft Trading SA and Egyptian Natural Gas Holding Co. (Egas) have signed a master LNG supply and purchase agreement.

Posted: August 28, 2015, 3:54 pm

The crude oil price for October delivery settled up nearly $4/bbl on the New York market Aug. 27, marking its biggest single-day gain in more than 5 years. Brent crude oil prices on the London market leaped by more than $4/bbl, marking Brent’s biggest single-day rise since December 2008.

Posted: August 28, 2015, 2:50 pm

PetroChina Co. Ltd. reported first-half increases in output of crude, natural gas, and refined products compared with a year earlier.

Posted: August 27, 2015, 8:12 pm

The US Bureau of Land Management’s Moab, Utah, field office began a 90-day comment period on Aug. 21 for a draft proposed Master Leasing Plan for 946,469 acres of public land overseen by the US Department of the Interior agency near the southeastern Utah community. The proposed MLP—Utah’s first—will follow a pattern BLM has used in developing similar plans in Colorado and Wyoming.

Posted: August 27, 2015, 7:44 pm

CNOOC Ltd. said first-half net production of oil and gas rose 13.5% to 240.1 million boe, primarily due to contributions from new projects in Bohai and the eastern South China Sea.

Posted: August 27, 2015, 4:14 pm

Houston independent Apache Corp. is taking Woodside Petroleum Ltd. to court over an alleged unpaid $64 million cash call associated with the sale of Apache’s interest in the Wheatstone LNG project in Western Australia.

Posted: August 27, 2015, 3:41 pm

North Sea Midstream Partners Ltd. (NSMP) has agreed to acquire 67% operated interest in the Shetland Island regional gas export system (SIRGE), 100% interest in the Frigg UK gas pipeline (FUKA), and 100% interest in the St. Fergus gas terminal from Total SA for $905 million.

Posted: August 27, 2015, 3:37 pm

Crude oil prices dropped modestly on the New York market on Aug. 26 after a weekly government report showed an unexpected draw in US commercial crude oil inventories, helping light, sweet crude oil prices settle higher although the contract for October delivery remained under $39/bbl.

Posted: August 27, 2015, 3:22 pm

China Petroleum & Chemical Corp. (Sinopec) reported a first-half operating loss in exploration and production of 1.8 billion yuan while refining earned 15.3 billion yuan.

Posted: August 27, 2015, 3:19 pm

A New Jersey Superior Court judge approved a $225-million environmental settlement between the state and ExxonMobil Corp. to resolve environmental damages over several decades from refineries in Linden and Bayonne and retail outlets and other facilities across the state.

Posted: August 26, 2015, 7:42 pm

Crude oil prices bounced up on both New York and London markets on Aug. 25, gaining more than $1/bbl for US light, sweet crude while Brent crude oil prices gained about 50¢ on the same day that the People’s Bank of China announced it cut interest rates for the fifth time since November 2014.

Posted: August 26, 2015, 3:43 pm

Development of a shale-gas industry in Northern Territory could drive significant long-term economic growth and generate as much as $1 billion (Aus.) of government revenue, according to recent study by Deloitte Access Economics commissioned by the Australian Petroleum Production & Exploration Association.

Posted: August 26, 2015, 2:54 pm

Eagle Ford wells brought online are expected to fall to around 2,700 from 4,000 in 2014, according to analyst group Wood Mackenzie Ltd. The company’s most recent analysis cites that production growth is slow in the near term, but the full effect of lower oil prices is moderated by improved recoveries in core areas.

Posted: August 26, 2015, 2:41 pm

Schlumberger Ltd. has agreed to buy Cameron International Corp. in a deal valued at $14.8 billion. Company officials said the acquisition will position Schlumberger to better compete in the oil and gas industry’s current price environment.

Posted: August 26, 2015, 2:29 pm

Fossil fuel interests, conservative think tanks, and groups funded by billionaires Charles and David Koch are fiercely fighting a growing wave of alternative energy in the US, President Barack Obama told participants at a clean energy conference in Las Vegas on Aug 24.

Posted: August 25, 2015, 7:32 pm

Santos Ltd. reported that David Knox, managing director and chief executive officer, will step down after 7 years in the position once a successor has been appointed.

Posted: August 25, 2015, 5:46 pm

Encana Oil & Gas (USA) Inc., a wholly owned subsidiary of Encana Corp., has agreed to sell its Haynesville natural gas assets in northern Louisiana to GEP Haynesville LLC, a joint venture formed by GeoSouthern Haynesville LP and funds managed by Blackstone Group LP’s GSO Capital Partners LP, for $850 million. The deal, effective Jan. 1, is expected to close in the fourth quarter.

Posted: August 25, 2015, 3:56 pm

Crude oil prices for October delivery settled at $38.24/bbl on the New York market Aug. 24, down $2.21 from the previous trading session, and Brent also dropped by more than $2/bbl on the London market to close at under $43/bbl for October delivery. Brent has fallen more than 30% since May.

Posted: August 25, 2015, 2:50 pm

An investigation remains under way into a fire that broke out at an unidentified unit of Royal Dutch Shell PLC’s Pulau Bukom manufacturing site on Bukom Island, Singapore, which houses a 500,000-b/d refinery, 1 million-tonne/year (tpy) ethylene cracker complex (ECC), and 155,000-tpy butadiene extraction plant.

Posted: August 25, 2015, 2:20 pm

The global oil product market could experience a surplus of gasoline supply as early as 2017, according to the latest long-term oil product market forecast from Wood Mackenzie Ltd. The research and consultancy firm explains that the surplus, combined with a deficit of middle distillate and fuel oil, would put significant pressure on refiners by the end of the decade.

Posted: August 24, 2015, 6:04 pm

Houston independent Erin Energy Corp. has entered into the next phase of onshore exploration in Kenya after being given government approval to enter the first additional exploration period (FAEP) on its L1B and L16 onshore blocks.

Posted: August 24, 2015, 6:00 pm

Cobalt International Energy Inc. has agreed to sell its interests in two blocks in deep water offshore Angola to state-owned Sonangol for $1.75 billion and will concentrate on appraisal and development of deepwater discoveries in the Gulf of Mexico.

Posted: August 24, 2015, 3:23 pm

Crude oil prices for October delivery touched a low of $39.86 on the New York market Aug. 21 before bouncing back to settle above $40/bbl, and the contract recorded a decline of 87¢ for the day compared with the previous trading session.

Posted: August 24, 2015, 2:53 pm

The Obama administration will begin to allow limited US crude oil swaps with Mexico, multiple news organizations reported. The US Department of Commerce is "acting favorably on a number of applications" to export US crude in exchange for imported Mexican oil, Reuters quoted an unnamed official as saying.

Posted: August 24, 2015, 2:50 pm

Leaders in the US House of Representatives are demanding answers from BP PLC regarding the early August unplanned and still ongoing shutdown of a major processing unit at its 413,000-b/d refinery in Whiting, Ind.

Posted: August 24, 2015, 2:41 pm

The US Environmental Protection Agency's proposal to reduce ozone limits is both costly and unnecessary, 370 state business groups from across the country-including petroleum councils affiliated with the American Petroleum Institute-told White House Chief of Staff Dennis McDonough.

Posted: August 24, 2015, 2:39 pm

Late summer may not seem like an appropriate time to prepare for avalanches in Washington at first. The nation's capital feels deserted as Congress takes its August recess, and many others are away for a week's vacation.

Posted: August 24, 2015, 2:36 pm

The US Environmental Protection Agency has proposed requirements aimed at reducing emissions of methane and volatile organic compounds (VOC) from all US oil and gas industry segments.

Posted: August 24, 2015, 2:33 pm

Attention returns to the antique US ban on exports of crude oil with reports that limited shipments to Mexico have been approved. The oil and gas industry should use the moment to expand the discussion to energy in general.

Posted: August 24, 2015, 5:00 am

International news for oil and gas professionals

Posted: August 24, 2015, 5:00 am

With the current low oil-price environment fast becoming the oil and gas industry's "new reality," even the most efficient of companies will have to do more than just make financial adjustments.

Posted: August 21, 2015, 6:55 pm

Royal Dutch Shell PLC has extinguished a fire that occurred at one of the units at the company’s Pulau Bukom manufacturing site on Bukom Island, Singapore, which includes a 500,000-b/d refinery, 1 million-tonne/year (tpy) ethylene cracker complex (ECC), and 155,000-tpy butadiene extraction plant.

Posted: August 21, 2015, 6:08 pm

Total petroleum deliveries, a measure of demand, rose 2.2% from July 2014 to average nearly 19.6 million b/d last month, according to the American Petroleum Institute’s most recent Monthly Statistical Report.

Posted: August 21, 2015, 2:55 pm

Statoil ASA reported the plan for development and operation (PDO) for Johan Sverdrup field in the North Sea has been approved by Norway’s Ministry of Petroleum and Energy.

Posted: August 21, 2015, 2:37 pm

Crude oil prices on the New York market edged above $41/bbl Aug. 20, but started sliding again in early Aug. 21 trading and looked to be on track for the eighth straight weekly loss, which would mark its longest decline in 29 years. Meanwhile, Brent crude fell for a second day on the London market Aug. 20.

Posted: August 21, 2015, 2:26 pm

Eleven US Senate Democrats and Independent Bernard Sanders (Vt.) asked the US Securities and Exchange Commission to make Royal Dutch Shell PLC disclose to the public and investors inherent risks offshore oil drilling poses if there is a spill or other environmental accident.

Posted: August 20, 2015, 5:06 pm

DNO ASA reported average second-quarter production of 153,346 bo/d from Tawke field in the Kurdistan region of Iraq after doubling the field’s capacity to 200,000 bo/d during the first half.

Posted: August 20, 2015, 4:09 pm

PJSC Lukoil said Iraq’s prime minister had visited West Qurna-2 oil field, which is now producing 450,000 b/d.

Posted: August 20, 2015, 2:40 pm

Eulogio Del Pino has been named Venezuela’s minister of petroleum and mining. He remains president of Petroleos de Venezuela SA (PDVSA).

Posted: August 20, 2015, 2:37 pm

The West Slope Colorado Oil & Gas Association urged the US Bureau of Land Management to move an existing natural gas pipeline, which its owner-operator wants to reroute and upgrade, out of a residential subdivision and onto public land.

Posted: August 20, 2015, 2:30 pm

Crude oil prices on the New York market dropped more than $1/bbl on both the New York and London markets on Aug. 19, with light, sweet crude oil prices for September settling below $41/bbl.

Posted: August 20, 2015, 2:20 pm

Royal Dutch Shell PLC has reported it has created an English and Dutch Caribbean region to be headquartered in Trinidad and Tobago. Shell has said the move is an effort to enhance the focus and coordination of Shell’s business in the area.

Posted: August 19, 2015, 6:59 pm

Just 5 companies submitted 33 bids on 33 tracts in Gulf of Mexico western planning area Lease Sale 246, the US Bureau of Ocean Energy Management (BOEM) reported following the event in New Orleans on Aug. 19. The sum of apparent high bids was just $22,675,212.

Posted: August 19, 2015, 5:35 pm

China National Offshore Oil Corp. Ltd. has signed production sharing contracts with Roc Oil (China) Co. for two blocks in the Pearl River Mouth basin in the South China Sea.

Posted: August 19, 2015, 4:03 pm

Crude oil prices on the New York market increased on Aug. 18, but the upward momentum was short-lived as a report from the US Energy Information Administration showed an unexpected rise in crude inventories.

Posted: August 19, 2015, 3:33 pm

Kuwait National Petroleum Co. (KNPC) plans to restore operations at its 200,000-b/d Al-Shuaiba refinery within the coming days after an Aug. 17 fire forced a complete shutdown of processing activities at the site.

Posted: August 19, 2015, 3:28 pm

Leaders in the US House of Representatives are demanding answers from BP PLC regarding the early August unplanned and still ongoing shutdown of a major processing unit at its 413,000-b/d refinery in Whiting, Ind.

Posted: August 18, 2015, 7:56 pm

The US Environmental Protection Agency has proposed requirements aimed at reducing emissions of methane and volatile organic compounds (VOC) from all US oil and gas industry segments. Officials from several oil and gas associations immediately criticized the Aug. 18 action. Environmental organizations welcomed it.

Posted: August 18, 2015, 7:19 pm

Pennsylvania Gov. Tom Wolf (D) issued a study he commissioned in late April of issues stemming from the growing number of crude oil shipments by rail across the state. The report by Allan M. Zarembski, who directs the Railroad Engineering Program at the University of Delaware’s Civil and Environmental Engineering Department, made 27 recommendations including calls for more frequent track inspections and adoption of several voluntary safety measures.

Posted: August 18, 2015, 4:15 pm

LyondellBasell, Houston, has reached an agreement for the sale of its wholly owned subsidiary Petroken Petroquimica Ensenada SA (Petroken), which operates a 180,000-tonne/year polypropylene (PP) plant in the port city of Ensenada, 50 km southeast of Buenos Aires, Argentina.

Posted: August 18, 2015, 4:10 pm

The Woodside Petroleum Ltd.-led Browse floating LNG (FLNG) project offshore Western Australia has taken another step forward with the Australian government granting conditional environmental approval for development. The approvals are valid until 2070.

Posted: August 18, 2015, 3:09 pm

The light, sweet crude oil contract for September settled at $41.87/bbl on the New York market Aug. 17, which was the lowest closing since Mar. 3, 2009, and the front-month contract set yet another fresh 6-year low. Crude oil prices repeatedly have touched the 6-year-low mark in recent days.

Posted: August 18, 2015, 2:36 pm

The US Bureau of Safety and Environmental Enforcement (BSEE) has given approval to Royal Dutch Shell PLC to drill to total depth the Burger J exploratory well in the Chukchi Sea following the arrival of a capping stack staged on the M/V Fennica vessel.

Posted: August 17, 2015, 7:56 pm

Pieridae Energy (Canada) Ltd. reported that it has been issued long-term licenses by Canada’s National Energy Board to import natural gas from the US and to export LNG from Canada.

Posted: August 17, 2015, 5:38 pm

The light, sweet crude oil contract for September settled above $42/bbl on the New York market Aug. 14 after bouncing up from the trading session’s low set early in the day of $41.35/bbl, which marked the lowest price that the front-month contract experienced since Mar. 4, 2009.

Posted: August 17, 2015, 3:26 pm

Political gyrations over financial and energy reform camouflage a wicked hypocrisy.

Posted: August 17, 2015, 3:05 pm

Environmental litigation settlements, which proponents say help the public make certain federal agencies are diligently implementing congressionally mandated regulations, actually sabotage sound policymaking, several witnesses told a US Environment and Public Works Committee subcommittee.

Posted: August 17, 2015, 2:58 pm

Utah's oil and gas activity, while not as large as some states, has taken similar hits since crude prices plunged from $100/bbl in mid-2014 to about $45/bbl in early August.

Posted: August 17, 2015, 2:56 pm

Watching a country squabble its endowment of hydrocarbons into developmental stalemate warms few hearts in the international oil and gas industry.

Posted: August 17, 2015, 2:31 pm

International news for oil and gas professionals

Posted: August 17, 2015, 5:00 am

The Obama administration will begin to allow limited US crude oil swaps with Mexico, multiple news organizations reported. The US Department of Commerce is "acting favorably on a number of applications" to export US crude in exchange for imported Mexican oil, Reuters quoted an unnamed official as saying.

Posted: August 14, 2015, 8:14 pm

Unipetrol AS has shuttered production at its Chempark Zaluzi petrochemical complex in Litvinov, Czech Republic, following an explosion and ensuing fire at the site’s 544,000-tonne/year (tpy) ethylene plant.

Posted: August 14, 2015, 7:24 pm

The US Bureau of Ocean Energy Management should ignore a call by groups to delay US Outer Continental Shelf Lease Sale No. 246 and hold it on Aug. 19 as scheduled, National Ocean Industries Association Pres. Randall B. Luthi said.

Posted: August 14, 2015, 6:05 pm

A Rosneft Group subsidiary, RN Assets LLC, has agreed to buy 100% interest in the Russian pressure-pumping unit of Trican Well Service Ltd., Calgary, for $140 million.

Posted: August 14, 2015, 3:41 pm

The US Bureau of Ocean Energy Management plans to prepare a supplemental environmental impact statement for the final Central Gulf of Mexico Planning Area oil and gas lease sale under the current five-year US Outer Continental Shelf program.

Posted: August 14, 2015, 3:08 pm

The front-month light, sweet crude oil contract dropped more than $1/bbl on the New York market Aug. 13 to settle below $43/bbl, putting it back around 6-year lows for the second time since Aug. 11. In early Aug. 14 trading, the New York oil price briefly touched $41.35/bbl, last seen on Mar. 4, 2009.

Posted: August 14, 2015, 2:19 pm

The US Environmental Protection Agency’s proposal to reduce ozone limits is both costly and unnecessary, 370 state business groups from across the country—including petroleum councils affiliated with the American Petroleum Institute—told White House Chief of Staff Dennis McDonough.

Posted: August 13, 2015, 8:19 pm

The governments of India and Nepal have signed a memorandum of understanding for construction of a pipeline to carry oil products from an Indian Oil Corp. depot at Raxaul, India, to Amlekhgunj, Nepal.

Posted: August 13, 2015, 6:30 pm

The front-month light, sweet crude oil contract gained modestly on the New York market Aug. 12, which analysts largely attributed to a monthly market report from the International Energy Agency saying demand for crude is increasing at its fastest pace in 5 years.

Posted: August 13, 2015, 2:54 pm

Lower crude oil prices and reduced demand resulting from a global economic downturn could reduce Canadian oil sands capital expenditures through 2017, the Canadian Energy Research Institute said. Production and capital outlays still are expected to increase well into the future, it emphasized in its latest Oil Sands Supply Update.

Posted: August 12, 2015, 9:47 pm

Declining crude oil production and growing economic challenges make it urgent for Alaska’s business and government leaders to move ahead more quickly on getting a major LNG export project up and running in the state, an American Council for Capital Formation report concluded.

Posted: August 12, 2015, 9:39 pm

Société Anonyme Marocaine de l'Industrie de Raffinage (SAMIR) is planning a financial restructuring of the company in an effort to maintain ongoing operations at its 10 million-tonne/year refinery at Mohammedia, Morocco, north of Casablanca.

Posted: August 12, 2015, 9:28 pm
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