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Uncategorized | OilBrief.com
 

Hatch acquires Upside Engineering

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Hatch announced that Upside Engineering Ltd. has joined Hatch Ltd., bringing together the largest oil and gas process team for complex upstream and downstream flowsheet development in Canada with a well-established firm that specializes in midstream hydrocarbon business.

Nigeria, oil majors start talks to end $62 billion dispute

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Nigeria began preliminary talks with international oil companies to settle a dispute over revenue. The government, citing a 2018 Supreme Court ruling, says it’s entitled to $62 billion from the companies after they failed to comply with a 1993 law that hands the state a greater share of income when oil exceeds $20/bbl.

Oil shock unites China with Asia rivals worried about supply

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Asia accounts for more than 70% of Saudi Arabia’s crude exports, with the four biggest economies – China, Japan, India and South Korea – leading the pack, according to consultancy Wood Mackenzie. That leaves them particularly vulnerable to rising geopolitical tensions in the Middle East that are now causing global crude prices to soar.