Energy

It was in December 2010 that two of the world’s foremost oil and gas companies came together in one of the globe’s most exciting locations for oil and gas development, Brazil. Repsol Sinopec Brasil was born out of a capital increase, in which Sinopec, the largest oil and petrochemical company in China, contributed more than $7.1 billion towards Repsol Brazil. The transaction gave rise to a company that today possesses a market value of some $ 17.8 billion.

Officially recognised as the fifth largest oil exporting country in the world, the Bolivarian Republic of Venezuela also boasts the largest reserves of heavy crude oil, estimated at more than 99 billion barrels as of 2010. When putting such an astronomical figure into context it is easy to see why the petroleum industry is universally seen as being the backbone of the country’s economy, accounting for half of total government revenues and approximately one-third of its annual GDP.

The two fields have produced a combined total of nearly 400 million barrels of oil since 1998, however fresh estimates suggest that there are a further 450 million barrels still available, much more than originally thought.

Since 2012, a number of companies of all shapes and sizes based in Aberdeen, Shetland, Fife and other UK locations have benefitted from the contracts that have been awarded.

The on-going £3 billion upgrade of the fields is aimed at extending production to 2035 and beyond.

Classed as unconventional gas along with coalbed methane and so called 'tight' gas, shale gas is fast heading out of that category. In the USA it has already had a significant and irreversible effect on the economy, as evidenced by a recent report from consulting firm IHS which says the boom in domestic energy now directly or indirectly supports 1.2 million jobs and adds more than $1,200 to average disposable income – and that these figures will increase to 3.3 million jobs and $2,000 per household by 2020.

Despite being Africa’s biggest oil producer, Nigeria lacks refining capacity. It is Dangote’s belief that in building what will be Africa’s largest refinery the country will be transformed into an importance petroleum exporter.

Dangote, who made his estimated $16 billion fortune in cement, flour and sugar, claims that the refinery will eventually go on to create thousands of jobs, something that is desperately needed in Nigeria’s oil-producing southern Niger Delta region, whose people are among the its poorest.

A European leader when it comes to the distribution of wear resistant and high yield strength steels, it is a hugely important belief within Abraservice that it should be seen to be more than just a supplier of such products. Rather it has successfully fashioned itself into a specialised provider of its customers’ complete solutions, from the analysis of their needs to the supply of finished and machined parts, ready for assembly.

The deal, which will see Sinopec pay $3.1 billion in cash, represents the latest in a series of similar transactions by Chinese oil firms who are looking to secure energy supplies in order to meet growing domestic demand.

"Sinopec is an ideal partner for us, and we look forward to the growth and value generation ahead for both companies through the expansion of our collaboration to other projects," Steven Farris, chief executive of Apache, said in a statement.

The Africa of the 21st century is often highlighted by the vast metropolitan cities that have been building up steadily to become centres of economic prosperity, yet the continents land is still home to a vast expanse of frontier land. It is on this land, particularly along coastal areas, that many of today’s most exciting oil and gas finds are being made. However, when it comes to operating in such areas, where logistical infrastructure is sometimes non-existent, it often calls for companies to rely on expert advice and local knowledge.

Located in the Western Province of Kenya, Mumias is home to one of the country’s largest and most established businesses, Mumias Sugar Company. The history of the company dates back to 1967, when the government of Kenya first commissioned Booker Agriculture and Technical Services to carry out a feasibility study on the viability of growing sugarcane in Mumias, before then initiating a pilot project.