Saudi Aramco and SABIC have formalized a previously announced agreement to conduct a joint feasibility study for the development of a fully integrated crude oil-to-chemicals complex in Saudi Arabia. The companies have signed a memorandum of understanding to execute front-end engineering design for the proposed COTC complex, which they expect will process 400,000 b/d of […]

Royal Dutch Shell PLC plans to cut by half the emissions of carbon dioxide from its own work and from the use of its products. In a strategy update, Chief Executive Officer Ben van Beurden said the company would target a 20% cut in emissions by 2035 and the full 50% cut by 2050.  […]

A Venezuelan military leader has been named president of Petroleos de Venezuela SA and minister of petroleum. Maj. Gen. Manuel Quevedo was appointed by President Nicolas Maduro to replace Nelson Martinez as PDVSA chief and Eulogio Del Pino as petroleum minister. Source: News

Texas tops a list of 97 jurisdictions ranked by oil and gas executives for investment allure in an annual survey by the conservative Fraser Institute of Canada. Venezuela ranked last in the survey, which had 333 respondents.  Source: News

Eni SPA has become operator of the Cabinda North Block in Angola under an agreement with state-owned Sonangol, the former operator. Eni describes Cabinda North as an onshore block in the little-explored northern part of the country. Source: News