Woodside Energy’s Post

ENOC Group, a leading integrated global energy player, has signed an agreement with FPPL (Flow Petroleum Private Limited), a prominent oil marketing company headquartered in Lahore, to authorise the distribution of the UAE’s premier lubricants brand in Pakistan. This agreement marks a strategic step for ENOC in expanding its market share and reinforcing its global presence. The signing ceremony took place at ENOC’s head office in Dubai and was attended by senior officials from both organisations including Burhan Alhashemi, Managing Director, ENOC Commercial and International Sales and Imran Khan, General Manager of Lubricants and Marketing at FPPL. H.E. Saif Humaid Al Falasi, Group CEO of ENOC, said: “We place our full trust in FPPL to effectively distribute our products in the Pakistani market. This partnership will not only bolster our global presence but also deliver significant value to our customers through FPPL's trusted network. We are confident that this collaboration will yield fruitful results, benefiting both our organisations and positively contributing to the growth of Pakistan's economy”. Under this agreement, FPPL is empowered to exclusively sell, market, and distribute ENOC’s premium lubricants in Pakistan. The addition of ENOC lubricants to Flow Petroleum’s portfolio enhances its diversification and integration within the country’s oil and gas value chain, while also exploring new business opportunities in areas such as aviation fuels and gaseous fuels. Muhammad Waris, Group CEO of FPPL, mentioned: “Our partnership with ENOC represents a significant milestone for FPPL as we diversify and expand our product offerings within the oil and gas sector. By introducing ENOC’s world-class lubricants to Pakistan, we are well-positioned to meet the growing market demand and solidify our standing as a leading oil marketing company. This collaboration opens new avenues for growth and allows us to provide exceptional value to our customers”. As ENOC continues to extend its global reach, this collaboration is set to drive substantial growth in Pakistan's lubricants market and foster new opportunities for innovation and advancement in the region’s energy industry. For further information, #ENOC #expand #international #pakistan #

The acquisition of the idled SAPREF refinery by South Africa's Central Energy Fund (CEF) has major implications which include. Enhanced Energy Security: Reduces dependence on imported fuel and hopefully a reduction in the price of fuel. Economic Growth: Creates jobs and stimulates local economies which is desperately needed especially in the Durban South Basin, Strategic Investment: Strengthens energy infrastructure. Sustainability: Opportunity to modernize with cleaner technologies. Boost to Local Industry: Supports the broader supply chain. This deal can significantly strengthen South Africa's refining capacity and align with economic and environmental goals which is a win win situation.

Announcements of closures for high-cost assets, especially in #Europe and northeast #Asia, are likely to accelerate in coming quarters as the global #petrochemicals industry is forced to rationalize, according to Antulio Borneo Earlier in 2024, US energy major #ExxonMobil said it was to shut its cracker in Gravenchon, France, and Saudi petrochemicals major #SABIC said it would shut its facility in Geleen, the Netherlands. “High-cost assets reside mainly in Europe and northeast Asia; the pressure to rationalize old and inefficient assets will intensify as time passes, but it will be expensive”. Read more here: https://lnkd.in/dEcmWzT5

PetroTal announces its Q4 and 2023 Financial and Operating Results. PTAL achieved avg production during the period of ca.14.25k bopd, within guidance for the year, & a production growth rate of 17% over 2022.   Manolo Zuniga, CEO: “PetroTal’s operational and financial targets were achieved in 2023, increasing average production 17% over 2022, repaying $80 million in debt and returning over $61 million to shareholders in the form of dividends and share buybacks. The Company managed through a challenging dry season, to achieve market guidance and exit December 2023 with production of approximately 20,000 bopd.    2024 is off to a record start having maintained nearly 19,000 bopd over the first two months in an eighty-dollar oil price environment, enabling us to maintain a robust cash position through the first quarter. With continued advancements on the OCP oil export pilot through Ecuador, the Company will continue to prioritize derisking oil sales so PetroTal can embark on new production growth projects.”   PetroTal will host a webcast today at 9am CT (Houston). Please click on this link to register: https://lnkd.in/eCpkunXR   The full announcement can be found here: https://lnkd.in/eAVKDZz6

The Prax Group Announces Successful Acquisition Of OIL! Tankstellen In Latest European Expansion #PraxGroupAnnouncesSuccessfulAcquisitionOf #TankstellenInLatestEuropeanExpansion

Exciting developments for Trafigura in Europe! We’re pleased to announce that our consortium “Rhône Energies”, formed with refinery operator Entara LLC, has entered into exclusive negotiations to acquire Esso’s Fos-sur-Mer refinery and the Toulouse and Villette de Vienne terminals. Rhône Energies brings together the strengths of Entara, established by former executives of Crossbridge Energy who have a track record of managing and optimising refinery assets, including at the Frederica refinery in Denmark, with Trafigura’s expertise in energy and commodities. Entara will manage the Fos-sur-Mer asset, overseeing operations, maintenance, asset integrity, commercial, health, safety and environmental performance. “We would be delighted to acquire and assume stewardship of the Esso’s Fos-sur-Mer refinery operations and look forward to engaging with the operational management, employee representatives and government stakeholders over the coming weeks and months to confirm our commitment to the operation and our plans for the future,” said Entara’s CEO, Nicholas Myerson. Ben Luckock, Trafigura's Global Head of Oil said: “The refinery will continue to be an important contributor to energy security in the region and would benefit from Trafigura’s global trading and logistics network. Oil and petroleum products will continue to play an important role in supporting growing global energy demand during the transition currently underway to a low-carbon economy.” Read the full story below:  https://lnkd.in/eHQ-6yYu #ConnectingVitalResources #Trafigura #SecurityofSupply #OOTT #FosSurMer

Precision and timing are everything, in the intricate world of 𝘀𝗶𝘁𝗲 𝘀𝗲𝗹𝗲𝗰𝘁𝗶𝗼𝗻 and 𝗶𝗻𝗰𝗲𝗻𝘁𝗶𝘃𝗲 𝗻𝗲𝗴𝗼𝘁𝗶𝗮𝘁𝗶𝗼𝗻. We recently navigated a challenging situation for a Fortune 500 client in the petrochemical sector that highlights the depth of our expertise and commitment to client success. Challenge A premature announcement put crucial state incentives at risk, a misunderstanding with substantial financial implications. Approach GMJ engaged in rigorous negotiations, presenting a compelling case to the state based on the assumption that the incentive package was secured. Outcome Through expert negotiation, we secured the incentives, cementing the project's location and underscoring the importance of precise expertise. #SiteSelection #IncentiveNegotiation #StateIncentives #EconomicDevelopment #PetrochemicalIndustry #CaseStudy #Fortune500 #SuccessStory #BusinessConsulting #GMJinc https://lnkd.in/gc4K9vnY

Private capital continues to take greater share in energy, to be continued

The Prax Group Announces Successful Acquisition Of OIL! Tankstellen In Latest European Expansion #PraxGroupAnnouncesSuccessfulAcquisitionOf #TankstellenInLatestEuropeanExpansion

RT @aramco: Our strong Q2 and half-year 2024 financial results reflect strong performance as key milestones advance our long-term growth strategy, enabling a secure and more sustainable energy future #AramcoResults #aramco