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ADNOC awards CNPC 8% stake in ADCO Onshore Concession Marine

ABU Dhabi National Oil Company (ADNOC) has signed an agreement with the China National Petroleum Corporation (CNPC), awarding it an 8% interest in Abu Dhabi’s onshore oil concession. CNPC contributed a sign up bonus of AED 6.5 billion ($1.77 billion) to enter the concession. The onshore concession is operated by the Abu Dhabi Company for Onshore Petroleum Operations (ADCO).

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Report predicts dollar-for-dollar spending in offshore and shale activities in 2017

For every dollar that is invested into the North American shale market in 2017, a dollar is also earmarked for the development of new offshore resources, says a recent report by independent oil and gas consulting services and business intelligence data firm, Rystad Energy.

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ExxonMobil’s new initiative to inspire girls to pursue a future in engineering

In association with its ongoing ‘Be an Engineer’ initiative, ExxonMobil is inspiring girls to explore coursework and careers in engineering through its 14th annual Introduce a Girl to Engineering Day programme. This year’s programme will engage more than 1,000 middle-school girls across the US in a hands-on approach that allows students to experience the excitement of being an engineer.

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Petrofac records $421m net profit in 2016 – also reduces its workforce by 29%

Following the release of Petrofac’s 2016 financial report – showing a $421 million net profit – the oil and gas integrated services company has described last year’s activity as a ‘Good operational performance across all businesses’.

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