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Supply & Demand

New Australian LNG will rely on stronger Asian demand

As LNG demand from Asian heavyweights such as Japan, China and India is expected to grow significantly in the next five to 10 years, they are likely to benefit from the surge in new Australian LNG supplies due to come on stream in the same period, according to a new study by Fitch Ratings.

3 October 2011
Companies & Finance

BP’s $7 billion Pan American deal likely to go ahead, despite obstacles

The delay to BP’s sale of its $7 billion stake in Pan American appears to be natural, and the deal is likely to be approved in late October or early November.

3 October 2011
LNG

Sakhalin Energy to supply TEPCO with LNG

Sakhalin Energy, the operator of the Sakhalin-2 oil and gas project off Russia's Pacific coast, will supply Tokyo Electric Power Company (TEPCO), Japan's largest electricity provider, with liquefied natural gas under a mid-term contract, the Energy Ministry said on Monday.

3 October 2011
Exploration & Production

Kudu development inches closer

After discovering gas at Namibia’s Kudu gas field in the 1970s, efforts to exploit the reserves have not come to fruition. However, Tullow, along with its partners, has begun a renewed push to devel

3 October 2011
Companies & Finance

VOG raises $15m for Logbaba

London-based Victoria Oil & Gas (VOG) has raised £9.5 million ($15m) in an equity placing to finance the development of its Logbaba upstream project in Cameroon.

3 October 2011
Pipelines, Storage & Power

Botas: No extension of 6 bcm gas contract with Gazprom

Turkish pipeline monopoly Botas has notified Gazprom of its decision not to extend a 6 billion cubic metre gas contract between the two companies, Gazprom Export told Interfax on Monday.

3 October 2011
Exploration & Production

KOC deputy chairman calls for increased collaboration to meet tight gas challenges

Increased collaboration between regional national oil companies, as well as with international oil companies, is needed to meet the growing challenges of developing tight gas formations in the Middle East, Mohammed Husain, deputy chairman and deputy managing director of planning and gas, for Kuwait Oil Company (KOC), said on Monday.

3 October 2011
Exploration & Production

Apache aims to begin Aussie Balnaves development in 2014

Apache’s Australian subsidiary Apache Julimar plans to begin its $438 million development programme for the Balnaves oil and gas field in the offshore Julimar and Brunello reserve in 2014, the Texan company announced on Friday.

3 October 2011
Exploration & Production

Huge Alaskan lease sale set for 7 December

The Alaska Department of Natural Resources (ADNR) has said that companies will be able to bid for oil and gas leases on around 14.7 million acres (59,488 sq km) of onshore land on 7 December.

3 October 2011
Exploration & Production

Total’s shale gas permits under threat

The French Government is expected to make an announcement today regarding shale gas exploration permits that have been granted to energy major Total, as well as US energy firm Schuepbach, Interfax has learned.

3 October 2011
LNG

Tanzania inks Chinese pipeline deal - report

The Tanzanian government announced last Friday that it has signed a $1 billion pipeline agreement with the Chinese government to build a 532 km gas pipeline from the coast to capital city Dar es Salaam.

3 October 2011
Companies & Finance

E.On recruits Goldman Sachs

German utility E.On has recruited Goldman Sachs to negotiate the sale of its gas distribution network in a move that could raise up to €2.5 billion ($3.3 billion) to help pay its debts, the Financial Times reported this weekend.

3 October 2011
LNG

GSPC and BG India agree on 20 year LNG contract

Gujarat State Petroleum Corporation (GSPC) and BG India signed a heads of agreement on Thursday for the long-term supply of up to 2.5 million tons per annum (mtpa) of LNG, according to a statement released on the latter’s website on Thursday.

30 September 2011
Exploration & Production

Peru is open for business with five contract awards

Peru’s government has awarded five oil and gas exploration contracts to various companies from the UK, Colombia and Argentina, the first awards since the signing of a law earlier this month giving indigenous communities a voice in contract negotiations.

30 September 2011
Exploration & Production

CNPC Qinshui CBM plant feeds 800 mcm of gas to WEP since 2009

China National Petroleum Corp.’s (CNPC) Qinshui coal-bed methane (CBM) plant has supplied 800 million cubic metres (28.2 billion cubic feet) of gas to the West-East Natural Gas Pipeline (WEP) since going online in 2009, CNPC announced Friday.

30 September 2011
Policy & Regulation

Bangladesh sets an example

The Bangladeshi government’s agreement to allow Santos to charge customer market-based prices - the first of its kind in the country - signalled its willingness to make concessions in order to lure

30 September 2011
Companies & Finance

Russo-Venezuelan bank targets energy projects

A new bank will give Moscow a foothold in the Venezuelan energy industry, although there are concerns about the lack of transparency in the organisation’s activities.

30 September 2011
Supply & Demand

Turkey: A tough negotiating partner

Turkey is making good use of its strong position in negotiations with Gazprom over renewing its import contracts, and if the Russian major back downs it could set a precedent for other European compan

30 September 2011
Companies & Finance

Sea Dragon closes deal for Egypt upstream

Calgary-listed oil and gas developer Sea Dragon Energy has closed a new debt finance package to fund the development of its Egyptian upstream assets.

30 September 2011
Companies & Finance

Barzan debt commitments confirmed

Debt commitments for the $4.7 billion debt package behind the Barzan natural gas project in Qatar will be secured at a signing on 31 October.

30 September 2011

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