Oil and gas industry announcements: 2 April 2015

Agility

Agility Fuel Systems has announced that UPS has ordered 445 of its news 160 DGE Behind the Cab CNG fuel systems for delivery in 2015. UPS has led the industry in the adoption of natural gas in heavy duty on road trucking and with this new order, will be operating almost 1600 heavy duty trucks equipped with CNG or LNG fuel systems applied by Agility. These trucks, once fully deployed, are projected to run more than 230 million miles/y and with Agility’s comprehensive field support, are achieving up time results that are comparable to diesel trucks.

Caltex

Caltex Australia Limited has advised that Chevron employees Barbara Burger, Richard Brown and Ryan Krogmeier have resigned from the board with effect from 2 April. Accordingly, Krogmeier will no longer stand for reelection at Caltex’s Annual General Meeting on 7 May 2015. Caltex Chairman Elizabeth Bryan thanked Burger, Brown and Krogmeier for their contribution to the Caltex Board and for their support of the company’s transformational activities.

CB&I

CB&I has announced that it has been awarded a contract for approximately US$60 million for the engineering, procurement, fabrication and construction of storage tanks in Venezuela. Luke Scorsone, President, CB&I Fabrication Services operating group said, “CN&I has a long history in Venezuela for providing reliable storage solutions at the highest quality. This award underscores the confidence the customer has in CB&I to continue to provide fabrication work for their projects safely and on time.”

GE

GE Oil & Gas and Statoil have issued their final call for their Open Innovation Challenge which launched in January 2015. With less than a month until the final deadline, GE is inviting entries to scoop one of the five US$25 000 cash prizes. Each winning respondent will also have an opportunity to receive additional funding for a 6 month period, from a total prize pool of up to US$375 000. The challenge was launched to invite engineers, technical innovators and startups to submit ideas to address the use of sand in unconventional operations like hydraulic fracturing. The gaol of this challenge is to find technologies to reduce the amount of or replace sand required to drill and maintain productive wells.

Par Petroleum

Par Petroleum Corporation has announced that it has completed the previously announced acquisition of Koko’oja Investments Inc., the parent company of Mid Pac Petroleum LLC based in Honolulu, Hawaii. The acquisition includes 85 retail outlets and four terminals in Hawaii, for a total purchase price of US$107 million plus working capital.

Sunoco

Sunoco LP has completed the acquisition of 31.58% equity interest in Sunoco, LLC, from ETP Retail Holdings, an affiliate of Energy Transfer Partners. The transaction is valued at approximately US$816 million. Sunoco paid US$ 775 million in cash and issued to ETP 785 482 new SUN units valued at US$40.8 million.


Edited from press releases by Claira Lloyd

Published on 02/04/2015


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