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Policy & Regulation

Reliance ignores petroleum ministry order

India’s Reliance Industries has refused to comply with an order from the Ministry of Petroleum and Natural Gas that part of the 2.6 MMcm/d Reliance sells from the Krishna Godavari D6 Block to state-run distributor Gail be diverted to city distribution company Bhagyanagar Gas, the Economic Times reported on Sunday.

8 October 2012
Companies & Finance

Petronas considers drilling oil exploration wells off the coast of Sri Lanka

Malaysia’s state-controlled Petronas is considering drilling oil exploration wells off the coast of Sri Lanka, after the government of Sri Lanka invited the company to study and review the possibility of working together to exploit oil and gas resources in the Mannar Basin, Reuters reported on Monday.

8 October 2012
Exploration & Production

OMV, Eni take advantage of Pakistan’s new production bonus

Pakistan has signed a development and production agreement with Austria’s OMV and Italy’s Eni for the onshore Latif gas field – a deal the Ministry for Petroleum and Natural Resources said highlights the attractiveness of incentives introduced in a new policy and the potential for new upstream projects in the country.

8 October 2012
Pipelines, Storage & Power

First Gen secures funding for third Philippine gas-fired power plant

First Gen, owner of two operational gas-fired power plants in the Philippines, has secured a $420 million loan which will be used to help fund a third, the company announced on Thursday.

5 October 2012
Companies & Finance

Japanese state bank signs LNG cooperation deal with BG Group

The Japan Bank for International Cooperation (JBIC) has agreed to finance the export of LNG to Japan by BG Group.

5 October 2012
Exploration & Production

Indian state companies buy into Carrizo’s US shale assets

Two state-owned Indian companies have acquired stakes in shale oil and gas assets in the United States owned by Carrizo Oil & Gas, joining fellow Indians Gail and Reliance Industries in investing in the Texan company’s shale projects.

5 October 2012
Exploration & Production

KG-D6 cash may hinge on gas price revision

While Reliance Industries and its partners are drawing up field development plans for the deepwater KG-D6 Block, the joint venture’s willingness to invest in the project may ultimately depend on whether the government gives in to its request for a higher price.

4 October 2012
Exploration & Production

Pacific Asia Petroleum starts drilling Chinese Zijnshan block

Pacific Asia Petroleum has started drilling in the onshore Zijinshan Block in China, the company’s Australian parent, Leyshon Resources, announced on Thursday.

4 October 2012
LNG

Thai Energy Ministry approve's PTT's plans to expand Map Ta Phut

The Thai Energy Ministry has approved state-owned PTT’s plan to expand its Map Ta Phut LNG terminal and to buy 2 mtpa of LNG from Qatar Liquefied Gas for 20 years beginning in 2015, Reuters reported on Thursday.

4 October 2012
Exploration & Production

BHP Billiton could begin drilling ultra deepwater Philippines prospect in Q1 2013

The petroleum arm of Australian mining giant BHP Billiton could begin offshore exploratory drilling at its ultra deepwater Cinco prospect near the island of Palawan in the first quarter of 2013, an official with the Philippines Department of Energy has said.

4 October 2012
Companies & Finance

Low price for BG Indian distributor highlights regulatory worries

The lower-than-expected selling price BG Group agreed to for its majority share of Indian gas distributor Gujarat Gas Co. Ltd. (GGCL) caused GGCL’s share price to drop significantly on Thursday and suggests the company is still hampered by regulatory uncertainty in the downstream sector, according to analysts.

4 October 2012
Companies & Finance

With Indian sale, BG frees up $4 billion from balance sheet

BG Group has agreed to sell its majority share of Indian gas distributor Gujarat Gas Co. Ltd. (GGCL) to state-controlled Gujarast State Petroleum Corp. (GSPC) for $470 million, the company announced on Wednesday.

3 October 2012
Policy & Regulation

Indonesia’s regulation proves difficult to wade through

While most view Indonesia’s oil and gas regulations as confusing, opinions differ on whether the laws in place are burdensome or not.

3 October 2012
LNG

Managing South Korea’s LNG mix

Young-Myung Yang, head of and vice president of research and development at Kogas, spoke to Interfax about his company’s role in supplying the burgeoning South Korean LNG market

2 October 2012
Exploration & Production

Soco eyes Vietnam expansion near disputed waters

London Stock Exchange-listed Soco International is keen to expand its Vietnam exploration portfolio by picking up offshore assets near waters contested by China, Roger Cagle, Soco’s chief executive and financial officer, told Interfax.

1 October 2012
Policy & Regulation

Indonesia raises the bar for upstream revenue in 2013

The Indonesian government aims to bring in $31.75 billion worth of revenue from the upstream oil and gas industry in 2013 – a higher target than it has set in previous years but slightly less than the level it previously achieved.

1 October 2012
Supply & Demand

Business brands Japan’s energy policy as ‘unacceptable’

Abandoning nuclear power will have drastic effects on Japan’s economy and is unacceptable to business, the chairman of Japan’s Business Federation has told Interfax.

27 September 2012
Companies & Finance

India’s ONGC focuses on ‘expeditious’ expansion in mid-term

With Indian gas production on a steady decline, the country’s largest state-controlled upstream company, Oil and Natural Gas Corp., is focusing its efforts in the next few years on turning exploration permit areas into production sources, enhancing existing fields and discovering new ones, and “intensifying” unconventional hydrocarbon explora

27 September 2012
Companies & Finance

Indonesian Chevron employees arrested as part of alleged corruption investigation

Four Indonesian Chevron employees have been arrested as part of an investigation into alleged corruption at an environmental remediation project in Sumatra, the Financial Times reported on Thursday.

27 September 2012
LNG

Construction of Philippines’ first LNG terminal suspended

Work at the site of the first LNG import terminal being in the Philippines by Australia-listed Energy World Corp. has been put on hold following concerns raised by the provincial government in Quezon, according to an official with the Department of Energy.

27 September 2012

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