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Exploration & Production

Reliance ‘over-sold’ KG-D6 promise, Indian official says

Niko Resources’ announcement last week that it had cut its estimate of reserves in the Indian KG-D6 Block by 80% dragged Reliance Industries’ share price down further and added to a long list of woes for the Indian company this past year.

26 June 2012
Exploration & Production

CNOOC raises South China Sea tensions with offshore offer

CNOOC has put offshore blocks on offer in the disputed South China Sea, only days after Vietnam passed a law declaring sovereignty over the Paracel and Spratly Islands.

26 June 2012
LNG

Japan and Russia sign Vladivostok LNG MOU

Japan and Russia inched closer to cooperating on the Vladivostok LNG plant over the weekend, as Gazprom’s leadership announced they would start negotiating for supply contracts from the project as early as next year.

25 June 2012
Exploration & Production

China, Vietnam argue over South China Sea islands

Not long after tensions flared up with the Philippines, China’s decision to establish a city in the Paracel archipelago has set off an argument with Vietnam, another of its South China Sea neighbours.

25 June 2012
Exploration & Production

Eni steps into Vietnam’s offshore prospects

Eni has taken its first step into Vietnam, with a farm in agreement that gives it a 50% stake and operatorship of two exploration blocks in the highly prospective offshore Song Hong and Phu Khanh basins, the company announced on Monday.

25 June 2012
Supply & Demand

Japan’s LNG imports remain robust

Japanese Prime Minister Yoshihiko Noda’s controversial call for the Ohi reactors to be restarted suggests other nuclear plants will follow. However, demand from Japan’s LNG market is likely to remain strong

22 June 2012
Exploration & Production

India, China forgo rivalry in favour of strategic friendship

India and China’s announcement last week that their state-owned energy majors had signed a deal for cooperation marked a departure from a long-running rivalry.

22 June 2012
Supply & Demand

Thailand willing to give Myanmar more gas

Thailand is prepared to increase the amount of gas it plans to deliver to Myanmar once its Zawtika project in Myanmar’s Gulf of Martaban starts up next year, Thailand’s state-run PTT Exploration and Production (PTTEP) has confirmed.

22 June 2012
LNG

Shell looks to accelerate Indonesian Abadi FLNG plant

Royal Dutch Shell Chief Executive Peter Voser met Indonesian officials earlier this month to discuss speeding up development of the Abadi floating LNG (FLNG) plant and the adjoining Masela gas block in the Arafura Sea.

22 June 2012
Exploration & Production

Suu Kyi statement clouds outlook for Myanmar’s oil and gas industry

Aung San Suu Kyi’s calls for international oil companies to refrain from cooperating with state-owned Myanma Oil and Gas Enterprises (MOGE) will have engendered caution among potential investors, which could risk pitting themselves against the Nobel Prize winner and democratically elected parliamentarian were they to enter the market.

21 June 2012
Policy & Regulation

PetroVietnam privatisation unlikely any time soon

Despite the Vietnamese government’s initial move towards semi-privatisation about five years ago, it is unlikely to put crown jewel PetroVietnam and its subsidiary, PetroVietnam Exploration and Production (PVEP) up for public offering any time in the near future, the head of PVEP said on Thursday.

21 June 2012
Companies & Finance

CPC chairman steps down amid corruption probe

The chairman of Chinese Petroleum Corp. (CPC), Taiwan’s state-owned oil and gas company, will step down at the end of June in the wake of a corruption probe that saw the offices of CPC raided by investigators from the government’s anti-corruption agency this week.

21 June 2012
Supply & Demand

Japan imports up in May, Korean down

Japan’s LNG imports rose by nearly 17% year-on-year to 7.06 million tons (mt) in May, according to preliminary statistics released by the country’s Ministry of Finance on Wednesday.

20 June 2012
LNG

Explorer Oil India eyeing a $1 bln LNG terminal

Cash-rich state-owned explorer Oil India intends to step into India’s growing LNG business by the end of March 2013 and may spend up to $1 billion to build an import terminal, a company official told Interfax.

20 June 2012
Exploration & Production

India, China agree to join forces

In a sign that two long-time competitors may be looking to join forces, the state-owned upstream operators of India and China shook hands on Monday on a memorandum of understanding to work together on international upstream, midstream and downstream oil and gas projects.

19 June 2012
Pipelines, Storage & Power

The Trans-ASEAN pipeline’s fading ‘gleam’

Industry pressure is mounting on ASEAN countries to go to work on completing the Trans-ASEAN gas pipeline project, but questions remain about the lack of proven reserves, financing and complications from subsidised pricing, among other issues.

19 June 2012
Exploration & Production

BAPEX plans to start drilling Sunetra field in July

State-owned Bangladesh Petroleum Exploration and Production Co. (BAPEX) plans to start drilling the newly-discovered Sunetra gas field in the northern Bangladeshi district of Netrokona from the first week of July, the country’s The Financial Express reported on Sunday.

18 June 2012
Exploration & Production

Pertamina and Timor Gas E Petroleo sign MOU

Indonesia’s state-run Pertamina and East Timor’s state-owned Timor Gas E Petroleo have signed a memorandum of understanding to develop oil and gas businesses across East Timor’s upstream and downstream sectors, Pertamina announced on Friday.

18 June 2012
Exploration & Production

Indian firms sharpening their focus on North American shale

India’s state-owned Oil and Natural Gas Corp. (ONGC) is betting on “frontier” areas, such as shale gas development, to help it double production and triple profit by 2030, the head of the company has told Interfax.

18 June 2012
Supply & Demand

Tepco takes additional LNG from Wheatstone

Tepco will take an additional 1.1 million tons per annum (mtpa) from Chevron’s Wheatstone LNG project in Australia, in a deal which will push the company’s total offtake from the project to 4.2 mtpa, the Japanese utility announced on Monday.

18 June 2012

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