Asia Pacific

Companies & Finance

BP relinquishes nine Indian blocks

BP has relinquished nine of the 21 Indian gas blocks the company invested in last year after assessing all of the acreage included in the deal a BP spokesman told Interfax on Monday.

15 October 2012
LNG

Panama LNG transit fees to attract US deliveries to Asia

With transit fees for the Panama Canal reported to be ‘competitive’ and Asian companies’ expressing their interest in the US’ Henry Hub-linked prices there are strong indications that the route will see increased use.

15 October 2012
LNG

Indian firms pin hopes for cheaper LNG on US shale

State-run Oil India and Indian Oil have joined the bandwagon of Indian companies investing in United States shale assets. The deal was driven by hopes that US LNG will be cheaper than the oil-indexed supplies India now receives, Oil India executives told Interfax.

15 October 2012
Supply & Demand

Japan utilities burn more, import less LNG in September

Japan’s 10 largest utilities imported 4.51 million tons (mt) of LNG in September, data from the Federation of Electric Power Companies (FEPC), released on Monday, showed.

15 October 2012
Exploration & Production

Indians look to US shale for future LNG imports

The chairman and director of finance at state-run Oil India spoke to Interfax about why the company decided to invest in United States shale assets earlier this month.

15 October 2012
Exploration & Production

Eni aims to produce Pakistan’s first unconventional gas

Pakistan is among the countries where Italy’s Eni is looking to expand its portfolio of unconventional oil and gas assets, with plans to become the first to develop the country’s underexplored shale and tight gas resources.

12 October 2012
Exploration & Production

Japex strikes gas in Japan

Japan Petroleum Exploration Co. (Japex) has struck gas in Niigata Prefecture, with a multiple branch well flowing a healthy 290,000 cubic metres of gas and 33 kl of condensate a day, the company announced this week.

12 October 2012
Companies & Finance

Jubilant closes debt deal to fund Indian exploration

India's Jubilant Offshore has closed an INR 1,340 crore ($254 million) debt deal with a consortium of banks to fund development of its exploration assets.

12 October 2012
Global Markets

Distressed cargo numbers on the rise as demand plateaus

The amount of distressed LNG cargoes available for purchase has increased sharply in recent months amidst sliding Asian demand and burgeoning global supply, traders have told Interfax.

12 October 2012
Supply & Demand

Chubu Electric signs 15-year LNG deal with Qatargas

Chubu Electric Power Co. has signed a 15 year LNG supply contract with Qatar Gas.

12 October 2012
Policy & Regulation

No deal on revenue-sharing in Philippines

Despite suggestions from the Moro Islamic Liberation Front that a 75/25 revenue split for the propsed Bangamoro region in the Philippines is inevitable, indications from the government suggest there is still much to work out.

11 October 2012
Supply & Demand

Tepco hopes Henry-Hub indexation will weaken oil-linkage

Tokyo Electric Power Co. is hoping to secure long-term Henry Hub indexed LNG contracts from the U.S, which it believes will improve its negotiating position elsewhere.

11 October 2012
Companies & Finance

Hong Kong’s EPI poised to acquire US acreage

EPI Holdings, a Hong Kong-based company with oil and gas interests in Argentina, announced on Thursday that it had entered an agreement to acquire gas acreage in Texas, including leases in the Barnett shale.

11 October 2012
Pipelines, Storage & Power

India scraps Reliance’s pipeline project because of lacking supply

The Indian government has cancelled Reliance Industries’ permits to build four gas pipelines on the eastern coast, a source close to the company confirmed Interfax on Thursday.

11 October 2012
Companies & Finance

BPMigas to correct mistakes using cost recovery system

Any infractions the Indonesian government finds when it audits oil and gas contracts with companies should not be considered crimes, upstream regulator BPMigas said in a statement on Thursday.

11 October 2012
Exploration & Production

Santos to continue drilling Sangu 11

Australia’s Santos plans to continue drilling the offshore Sangu 11 well in Bangladesh as long as it remains commercially viable, the Financial Express reported on Wednesday, citing a company official.

11 October 2012
Exploration & Production

Exxon gearing up for more CBM drilling in Indonesia

ExxonMobil plans to drill between 15 and 20 CBM wells and carry out several pilot tests in the Indonesian Barito Basin next year, in the hopes of determining whether the coals hold enough gas to feed local power plants or, preferably, be exported to areas with stronger demand.

11 October 2012
Supply & Demand

Malaysia exports 4.83 mt between June and August

Malaysia exported 4.83 million tons (mt) of LNG between July and August, customs data sent to Interfax on Wednesday showed.

10 October 2012
Exploration & Production

Indonesia kicks off second bidding round

Indonesia’s Directorate General of Oil and Gas (Migas) on Tuesday opened its second oil and gas auction this year, putting 23 blocks across the archipelago up for direct and regular tender, according to an announcement on the regulator’s website.

10 October 2012
Supply & Demand

LNG wave uncertain despite abundant supply – Asian buyers

There are plenty of potential LNG suppliers on the horizon, but which country or region will provide the next great wave – after Australia – is still unclear, Asian LNG buyers told delegates at the GasTech conference in London on Monday.

9 October 2012

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