Baker Hughes, a GE company (BHGE), has announced an agreement to sell its Natural Gas Solutions (NGS) business to two separate entities, First Reserve and Pietro Fiorentini S.p.A. The sale has a combined value of $375 million. NGS is part of BHGE’s Turbomachinery & Process Solutions (TPS) segment, providing commercial and industrial products such as […]

Shell is reportedly in discussions to sell off two of its Nigerian oil licenses.The sale would include infrastructure assets such as a natural gas-fired power plant. A Blomberg report said the assets are on the market for $2 billion and an indigenous firm is considering the purchase. Discussions have been advanced at times but have […]

TransGlobe Energy’s NW Sitra 9 (NWS 9) exploration well in the Western Desert failed to encounter hydrocarbons for the company. The well was drilled to a total depth of 5,950 ft and abandoned as a dry well. Although disappointing, TransGlobe said the NWS 9 has provided key information that will be integrated into the regional […]