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Supply & Demand

Japan hopes for US import approval

Japan is hoping to reach an agreement to import LNG from US projects in Louisiana and Maryland at a bilateral meeting scheduled for this spring, Reuters reported on Wednesday, citing a local Japanese newspaper.

22 February 2012
Companies & Finance

CNPC bids on Browse project

China National Petroleum Corp. (CNPC) has bid for a piece of Woodside Petroleum’s 50% share of the Browse LNG project off the north-west coast of Australia, Bloomberg reported on Wednesday.

22 February 2012
Companies & Finance

Talisman pulls Mitsubishi into its PNG LNG vision

Japan’s Mitsubishi has waded into Papua New Guinea’s rising gas sector with a $280 million deal for stakes in nine of Talisman’s onshore licences, the Canadian oil and gas company announced on Wednesday afternoon.

22 February 2012
LNG

Golar expects threefold gain

Golar LNG is expected to report a threefold gain in 2012 net income as rates for LNG tankers rise for a third year in a row due to Japanese demand, Bloomberg reported on Tuesday.

21 February 2012
Companies & Finance

Mitsubishi’s American acquisition will not affect rating

Mitsubishi’s acquisition of a 40% stake in a North American shale gas development operated by Encana will not affect the Japanese company’s rating of A+/Stable/A-1, ratings agency Standard & Poor’s said on Tuesday.

21 February 2012
Supply & Demand

Gazprom, Kogas step up gas supply talks

Further talks between Russia’s Gazprom and South Korea’s Korea Gas Corp. (Kogas) concerning the proposed North Korean transit pipeline will be conducted in March, Gazprom said on Monday.

21 February 2012
Policy & Regulation

Calls to fix India’s ‘distorted’ gas pricing system

India’s most active oil and gas companies are calling for a fairer, more transparent and market-based gas pricing system, and the government Planning Commission’s deputy chairman agrees.

20 February 2012
Supply & Demand

Japan LNG imports rise to 8.15 mt in January

Japan’s total LNG imports rose again in January, this time by 28.2% year-on-year to 8.15 million tons (mt), according to statistics released by the Finance Ministry on Monday.

20 February 2012
Companies & Finance

South Korea gas and oil

South Korea plans to develop 35% of its oil and gas supplies by 2020, up from an earlier target of 13.7%, The Korea Herald reported on Thursday.

17 February 2012
Companies & Finance

Essar Oil

Indian oil and gas developer Essar Oil’s revenues for April to December 2011 rose by 15.4% year-on-year to INR 441.8 billion ($8.9 billion), the company announced on Friday.

17 February 2012
Companies & Finance

ConocoPhillips sale highlights Vietnam’s rising value

ConocoPhillips’ announcement on Thursday that it will sell its Vietnamese oil and gas assets to Anglo-French Perenco for nearly $1.3 billion highlights the increasing value of hydrocarbon prospects in the South Asian country, according to analysts.

17 February 2012
Companies & Finance

Gujarat State Petronet closes pipeline debt finance

State-owned utility Gujarat State Petronet has closed an INR 4,500 crore ($900 million) project finance facility with a club of local banks to finance the development of a gas pipeline between Mehsana and Jammu.

17 February 2012
Companies & Finance

Kogas hopes for higher gas prices come March

State-run Korea Gas Corp. (Kogas) and the South Korean government are hoping to lift the country’s gas tariff for city distribution by 1 March, after a small rise last year failed to cover Kogas’ fuel costs and investment plan, a company official said in a conference call on Thursday.

16 February 2012
Exploration & Production

India’s Reliance faces troubling times

HSBC downgraded Indian independent oil and gas heavyweight Reliance Industries to “underweight” on Wednesday, following other analysts who have predicted troubling times ahead for the company as its production from the Krishna Godavari Basin continues to fall.

15 February 2012
Companies & Finance

Tokyo Electric buys 71 spot LNG cargoes

Japan’s Tokyo Electric bought 71 spot LNG cargoes amounting to 4.35 million tons (mt) between April and December 2011, according to Reuters on Wednesday.

15 February 2012
Supply & Demand

South Korean LNG imports dropped 41% in January

South Korea’s LNG imports in January dropped by 41% year-on-year to 2.89 million tons (mt), Reuters reported on Wednesday.

15 February 2012
Companies & Finance

India considers divesting ONGC stake

A panel of Indian ministers will meet on Wednesday to consider divesting some of its stake in Oil and Natural Gas Corp. (ONGC), India’s largest oil and gas explorer, Dow Jones reported on Tuesday.

14 February 2012
Pipelines, Storage & Power

PLN will begin plant tender process

Indonesian state-run power generator PLN will begin the tender process for two gas-fired plants in Bengkanai, central Kalimantan, and Bontang, eastern Kalimantan; with a combined capacity of 330 MW, The Jakarta Post reported on Tuesday.

14 February 2012
Exploration & Production

Bidding for Indonesia’s Makassar Strait projects expected soon

Indonesia expects to launch a bidding round for the development of three Chevron-operated deep-water reserves in the Makassar Strait within the next two months, in the hopes of beginning gas production by 2016.

14 February 2012
Policy & Regulation

$13 billion bailout keeps Tepco solvent

The Japanese government will provide Tokyo Electric Power Co. (TEPCO) with an additional $13 billion cash injection amid concerns the struggling utility would be forced to delist from the Tokyo stock exchange.

13 February 2012

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