Sumitomo Company News

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$6B Buffett Japan Wager Could Signal More Commodity Deals
Monday, August 31, 2020Japan's trading houses supply the resource-poor country with everything from natural gas to noodles.

Sumitomo Joins Yinson in Petrobras FPSO Project
Thursday, April 30, 2020The agreement grants Sumitomo a 25-percent interest in the FPSO Anna Nery project that Petrobras awarded Yinson last fall.

Japanese Banks Expand To Ranks of World's Biggest Energy Lenders
Thursday, June 09, 2016Japanese banks, known for the risk-aversion that spared them the worst of the credit crisis, have quietly grown into some of the world's largest energy lenders.

JOGMEC Provides $45.6M Funding for Idemitsu-Sumitomo's Vietnam Exploration
Friday, August 14, 2015JOGMEC provides $45.6 million in equity financing to Idemitsu and Sumitomo for two exploration blocks offshore Vietnam.

Ithaca Buys Interests in 3 UK Fields
Monday, June 23, 2014Ithaca Energy pays Sumitomo Corporation $170 million for two North Sea fields and one onshore UK field.

Japan Bank to Fund JX Nippon North Sea Acquisitions
Friday, April 12, 2013The Japan Bank for International Cooperation will lend up to $881 million to JX Nippon Oil and Gas Exploration Corporation to help it finance the cost of purchasing to North Sea fields.

Devon Energy Agrees to $1.4B Venture
Wednesday, August 01, 2012Devon agrees to sell 30% of its interest in the Cline Shale and the Midland-Wolfcamp Shale to Sumitomo in a deal valued at about $1.4B.

Sumitomo's Gas-to-Synthetic Crude Process Enters Commercial Phase
Monday, June 25, 2012Sumitomo signs a contract with CompactGTL (CGTL), Sumitomo Precision Products and Kawasaki Heavy Industries to commercialize gas-to-synthetic crude technology.

Rex-Sumitomo JV Closes Marcellus Shale Transaction
Thursday, September 30, 2010Rex has closed its previously announced Marcellus Shale joint venture transaction with Summit Discovery, a wholly owned subsidiary of Sumitomo.

Carrizo Forms Strategic JV with Sumitomo in Barnett Shale
Tuesday, December 15, 2009Carrizo Oil & Gas announced the sale of an interest in a portion of its core Barnett Shale acreage to a subsidiary of Sumitomo Corporation for $15.7 million. Sumitomo has the right to participate in up to 56 future wells within these units.

OMS Measures Up for Innovation Award
Wednesday, March 19, 2008The UK company, which specialises in precision measurement services and tools for the oil and gas industry, has just scooped its third prestigious Pipeline Industries Guild award.

IPIC Awards $460 Million in Deals on Abu Dhabi-Fujairah Pipeline
Monday, December 31, 2007IPIC awarded contracts worth $460 million to three companies to supply pipes for a domestic crude oil export line linking the U.A.E.'s emirates of Abu Dhabi and Fujairah.

Statoil Seals Steel Deals for Drilling, Developments
Friday, May 18, 2007New framework agreements worth an estimated NOK 13.2 billion will secure Statoil's need for casings, tubing and pipeline steel for the next five years.

BP Indonesia Hopes to Secure Another $900M for Tangguh
Tuesday, December 12, 2006BP Indonesia hopes to secure the remaining US$900 million needed for the Tangguh liquefied natural gas project by the end of next year, according to the company's executive vice president in charge of the Tangguh enterprise, Budiman Parhusip.

Paladin Completes Sale of Ross & Blake Fields
Thursday, April 07, 2005Paladin has completed the sale of its stake in the Blake and Ross Fields to Petro Summit Investment.

Paladin Sells Stake in Ross and Blake Fields in the UK
Monday, January 17, 2005Paladin Resources has signed a Sale and Purchase Agreement with Petro Summit Investment UK Limited in which Summit will acquire Paladin's 30.82 percent fixed unitized interest in the Ross Field and its 2.40 percent fixed unitized interest in the Blake Field, together with its interests in a number of exploration blocks in the vicinity of these two fields.

Seven New Companies on the Norwegian Shelf in 2004
Wednesday, December 22, 2004The companies Wintershall, Noble Energy and Centrica are the latest of a total of seven new players pre-qualified by the authorities in 2004 as licensees or operators on the Norwegian shelf.