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Saudi Arabia’s government has changed its relationship with the state-held oil and gas company Saudi Aramco and has limited the amount of time in which the group can explore and develop domestic resources to 40 years from a previous contract that gave the company access to them in perpetuity. However, there will be an option to renew the 40-year contract even though this legal move raises questions about Saudi Aramco’s long-term production.

One of the main drivers behind the decision could be the delay behind the preparations for a stock market flotation (initial public offering or IPO) of Saudi Aramco. The new concession contract may have been agreed as part of the IPO process, which also included an overhaul of Saudi Aramco’s financials and an audit of its reserves. Besides, this legal move is expected to formalize the relationship between the government and the company ahead of its opening up to foreign investors.

French oil and gas company Total will sell its 26% minority stake in the Hazira LNG regasificationterminal in India (Surat district, Gujarat) to Shell, which already owns the remaining 74% interest in the facility. The transaction is subject to the approval of domestic regulatory authorities. Meanwhile,….

According to the United States Energy Information Administration (EIA), more than 30% of the global maritime crude oil trade went through the South China Sea as of 2016. This represents approximately 15 mb/d and more than 90% of these volumes transited through the straits of Malacca, which is the shortest sea route between Asian markets and their suppliers in the Middle East and Africa.

US-based utility Duke Energy intends to add more solar and gas-fired power plants to its system along with improvements to its power grids in order to enhance its reliance by 2019. Smart technology will be deployed to increase the energy efficiency of its facilities.

The governments of Uganda and Tanzania have agreed to jointly build a new interconnection gas pipeline, which is expected to ship gas supplies from Tanzania’s fields to potential gas buyers in Uganda. State-run Tanzania Petroleum Development Corporation (TPDC) will look for a contractor to carry out feasibility studies.

Russian state-run nuclear corporation Rosatom has started to load nuclear fuel at the Tianwan-4 nuclear reactor in Lianyungang, in the Jiangsu province of China. Once the first criticality is achieved, the unit will enter the startup stage in September 2018 and be connected to the Chinese power grid before the end of the year.

Element Power’s affiliate Greenlink Interconnector has invited bidders to express their interest to tender for the construction of the 500 MW Greenlink HVDC interconnector project between Ireland and the United Kingdom. Tenders will be sought on the design, construction and maintenance of the main line and the associated converter stations.