Natural Gas Daily

• GE, Morgan Stanley supply debt to Texas-focused producer
  17 May 2013 14:35 GMT
  

  GE Energy Financial Services has agreed to lead a funding programme to supply Dallas-based developer SND Consolidated Energy with a…

• Nine lend on drilling rig acquisition deal
  17 May 2013 14:34 GMT
  

  UK-based Standard Chartered Bank acted as coordinating bank on a $1.85 billion bridge financing package supplied to SapuraKencana, a Malaysia-based…

• China assumes low profile in ConocoPhillips results
  17 May 2013 14:17 GMT
  

  ConocoPhillips said output growth in China has been aided by additional wells coming online at the Panyu offshore project in the South China Sea in Q1 results this week, while characterising operations at the once-troubled Penglai 19-3 field as “normal”.

• Novatek vague on LNG markets and tariff growth
  17 May 2013 9:22 GMT
  
  
  Novatek is bullish on Yamal LNG after its Q1 2013 results, anticipating a government decision on liberalising LNG exports soon. But exactly what the company expects remains unclear.
• China’s poor IPR score a mix of fact and fiction
  16 May 2013 12:18 GMT
  
  
  Slow headway on intellectual property rights reform is frustrating foreign companies in China, but some of the criticism may be fuelled by misperceptions about China’s IPR regime.
• PetroChina withdraws offer for Aussie explorer
  14 May 2013 16:04 GMT
  

  PetroChina has pulled out of negotiations for a takeover of Australian unconventional explorer WestSide, explaining “the general situation in Australia has changed so much”, WestSide said on Wednesday.

• Statoil farms into another Aussie frontier basin
  14 May 2013 16:03 GMT
  

  Statoil has taken its second step into Australia’s exploration acreage, agreeing to farm into four BP-operated licences for offshore areas in the southern Great Australian Bight, the Norwegian company announced on Tuesday.

• BG looks to prioritise ‘value over volume’
  14 May 2013 15:29 GMT
  
  
  BG Group appears to be following the lead of other European oil and gas companies by shifting the focus of its business away from production targets towards value creation.
• OMV earnings helping to fund upstream investment – CEO
  14 May 2013 14:20 GMT
  

  Austria’s OMV has said its earnings for Q1 2013 rose year on year as the company shifts its strategic focus from downstream activities to higher-stake upstream projects in the Black Sea and beyond.

• As Surkov departs, Sechin rises
  13 May 2013 14:45 GMT
  
  
  With the resignation of Putin’s former chief ideologist, the Russian political landscape looks promising for Rosneft President Igor Sechin. The signs are of conflict behind closed doors, with battle lines drawn around Rosneft and Gazprom.
• Dana Gas closes sukuk refinancing
  10 May 2013 14:01 GMT
  

  Dana Gas closed a restructuring of its $1 billion sukuk (Islamic bond) debt this week, with a new five-year maturity date which gives Dana ‘a lot of breathing room’ to focus on its next challenge of collecting overdue payments for gas produced in Iraqi Kurdistan and Egypt, according to Ghassan Chehayeb, director of credit research at Exotix.

• Adviser appointed for Myanmar gas-fired power project
  10 May 2013 13:58 GMT
  

  Japanese commercial bank Mizuho has been mandated by a consortium of Korean developers to act as financial adviser on the funding of a new gas-fired power project in Myanmar.

• US utility closes $450 million notes offering
  10 May 2013 13:56 GMT
  

  Minneapolis-based electricity and gas utility Xcel Energy has closed a notes offering worth $450 million to repay existing facilities and for general corporate purposes.

• Gas looms large in China Resources merger
  10 May 2013 13:40 GMT
  
  
  The $22 billion merger between power and gas subsidiaries of state-owned China Resources Group will create one of the country’s largest integrated energy utilities.
• Repsol on the up following LNG sale
  9 May 2013 14:59 GMT
  

  A strong performance by Repsol’s LNG assets – most of which were sold to Shell in February – helped the Spanish oil and gas giant post a solid set of Q1 results on Thursday.