rss icon Subscribe
desktop mobile

Motor Oil Acquires New U.S. Oil & Gas Exploration Rights

Posted by Joseph Keefe

MOTOR OIL (HELLAS) announced that MVU Brazos Corp. acquired on 21/12/2016 100% interest in the Brookshire Salt Dome Project, in USA from Texas Edwards Inc., with effective date 31/8/2016.

MVU Brazos Corp. ("MVB" - registered inUSA) is a wholly owned subsidiary of Motor Oil Vegas Upstream Limited (registered inCyprus). MOTOR OIL (HELLAS) S.A. holds 65% of the share capital of Motor Oil Vegas Upstream Limited with the remainder 35% belonging to Vegas Oil and Gas Limited.
Texas Edwards Inc. ("TE" - registered inUSA) is an indirect wholly owned subsidiary of Vegas Oil and Gas Limited.
The Brookshire Salt Dome Project currently consists of mineral and surface lease rights for an area of 78 square miles northwest of Houston, Texas. The lease rights were acquired to investigate the potential for oil and gas minerals trapped in the area.
For the above, MVB paid to TE USD 2.56 million plus costs incurred in the interim period.

Dec 28, 2016



Seaspan Orders Eight More Containerships

© MicroStudio / Adobe Stock

Seaspan Corporation continues its vessel ordering spree with a deal announced Thursday for eight

Austal Wins U.S. Navy Contract for EPF 15

(Photo: Austal)

The U.S. Navy awarded Austal USA a $235 million undefinitized contract action modification on Feb.

Telemar Wins 50-vessel Service Deal with Fairplay Towage

Fairplay_31_Ormen Lange.jpg

Marlink subsidiary Telemar said it signed a five-year service maintenance deal with Fairplay


Bulk Carrier Caught Dumping Garbage in Great Barrier Reef

© Graham Flett /

A shipping company and chief officer have been convicted in Australia for dumping garbage near the

IMO-led Meeting Addresses Dumping at Sea

© intararit / Adobe Stock

Preventing pollution from dumping of wastes at sea relies on global frameworks, regional

Elaine Chao Used DOT Resources for Family Business - Report

Elaine Chao (Photo: Office of President Trump)

The U.S. Justice Department declined to investigate or prosecute then-Transportation Secretary

Maritime Apps