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Statoil to invest $642m for further development of Snohvit field in Norway

Oil and gas industry news : Statoil and its partners will invest a little over NOK 5 billion ($642 million) for further development of the Snohvit field in offshore Norway by bringing the Askeladd field into production to supply feedstock for the Hammerfest LNG plant at Melkoya. The development of the Askeladd field in the […]

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BHEL bags order for phase 1 expansion of Patratu power plant in Jharkhand

Bharat Heavy Electricals Limited (BHEL) has secured a contract worth INR 11,700 crore ($1.8 billion) to supply three supercritical thermal units of 800MW each for the Patratu power plant in Jharkhand, India. The three units will be part of phase 1 of the expansion project at the coal-based 840MW Patratu power plant at Patratu in […]

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Lumentum to acquire optical components company Oclaro for $1.8bn

California-based optics technology company Lumentum has agreed to acquire optical components company Oclaro for about $1.8 billion in a cash and stock deal. Lumentum, is essentially a telecommunications equipment company, that manufactures optical and photonic products for optical networking and commercial laser customers across the world. Lumentum acquisition of Oclaro is expected to help the […]

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Eni buys stake in Abu Dhabi offshore oil and gas fields in UAE for $875m

Eni has signed a couple of concession agreements to acquire a stake of 5% and 10% in the Lower Zakum offshore oil field and the Umm Shaif and Nasr oil, condensate and gas offshore fields, respectively in offshore Abu Dhabi for a price of around $875 million. The stakes bought from ADNOC are for duration […]

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Eni to sell 10% stake in Shorouk concession to Mubadala Petroleum for $934m

Oil and gas industry news : Italian oil and gas company Eni has struck a deal to divest a stake of 10% in the Shorouk concession, offshore Egypt, containing the super-giant Zohr gas field to Mubadala Petroleum for a sum of $934 million. The UAE-based Mubadala Petroleum is a 100% owned subsidiary of Mubadala Investment […]

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IKEA OAK creek opening date : New IKEA Oak Creek store to open in mid-May

IKEA OAK creek opening date : Home furnishings retailer IKEA will open a new store in Oak Creek on 16 May, which will be the first store of the Swedish company in the US state of Wisconsin. As per the latest updates on IKEA new store openings 2018, the IKEA Oak Creek store for the […]

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Wartsila signs $123m contract for AGL Energy’s Barker Inlet Power Station

Power solutions provider Wartsila has signed a $123 million worth EPC contract for the 211MW Barker Inlet Power Station, a new gas fired power plant in Australia owned by AGL Energy. Under the terms of the EPC contract, the Finland-based Wartsila will a dozen 50DF dual-fuel engines for the new $234 million South Australian power […]

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Cigna to acquire pharmacy benefits manager Express Scripts for $67bn

Cigna acquisition of Express Scripts : US health insurance company Cigna has struck a massive deal of around $67 billion to acquire Missouri-based pharmacy benefits manager Express Scripts, in a move to create an enlarged portfolio of health services. The cash and stock transaction, which has the approval of the board of directors of either […]

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