Oil and gas industry announcements: 20 February 2015

Bilfinger

Jurgen Peter von Hollen has assumed the positions of Executive President of the Engineering, Automation and Control division at Bilfinger SE and Chief Executive Officer of Tebodin BV. In this dual function he succeeds Jack Overkamp who left the company by mutual agreement in order to pursue new professional challenges. The Engineering, Automation and Control division is part of the industrial business segment which contributes approximately 3.7 billion Euros to the group’s output volume.

Concordia Maritime

Concordia Maritime has signed an agreement to charter 50% of a Suezmax segment. The vessel has a deadweight of 158 000 t and was built in South Korea in 2012. The charter period is one year from August 2015 with an option for an additional year.

Eco-Energy

Eco-Energy has announced the opening of its distribution facility located within the Knoxville, TN terminal complex. The facility, which is a joint project between Eco-Energy and Kinder Morgan Southeast Terminals, LLC, will be equipped to receive tank cars daily from the CSX Railway for outbound ethanol distribution via pipeline connection and tank truck delivery to all area gasoline blending locations. As part of the operation, Eco-Energy has employed facility operators and truck drivers brining new jobs to the Knoxville area.

International Energy Agency

Prime Minister Shinzo Abe of Japan received a courtesy call on 16 February from IEA Chief Economist Fatih Birol at the Kantei, the official residence of the Japanese Prime Minister. Abe congratulated Birol on his recent appointment as the next IEA Executive Director and expressed his expectation that under his leadership the IEA would help Japan improve its own energy policy while also making a strong contribution to overcoming global energy security and climate change challenges. Abe went on to reassure Birol that the work of the agency would have Japan’s ongoing support.

Texhoma Energy

Texhoma Energy, Inc. has announced that it has entered into an agreement with Kris Kon A/S Denmark to acquire US$500 000 of oil gas gas assets by March 1 of this year, and has further agreed that Texhoma will acquire, with the assistance of Kris Kon, an additional US$3.5 million in oil and gas assets over the next 24 months. The oil and gas assets will be in the form of net profits interests in the assets acquired and paid for by the issuance of convertible notes of Texhoma due in two years and convertible into Texhoma common stock at a discount to the market price of such common stock.

Kris Kon has also agreed to head an investment committee established by Texhoma to place, on behalf of Texhoma, up to US$2 million of the US$5 million equity line previously announced by Texhoma which is agreed to be provided by Southridge Advisors upon the effectiveness of a registration statement relating to such equity line, and subject to the terms and conditions thereof.

Edited from various press releases by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/refining/20022015/oil-gas-ind-announcements/