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Exploration & Production

Cairn India makes second Krishna Godavari discovery

Cairn India has made a second discovery in the onshore Krishna Godavari Basin’s KG-ONN-2003/1 block in eastern India, the company announced on Tuesday.

3 April 2012
Companies & Finance

PTTEP’s hunt for assets may tip its hefty capex

Thailand’s PTTEP is shopping for overseas gas assets, in the hopes of scoring at least one this year. But with an already hefty capex plan, another acquisition threatens to crush its shaky credit rating.

3 April 2012
Exploration & Production

Niko begins drilling on 21st Indonesian gas block

Niko Resources has started an exploratory drilling programme in Indonesia’s offshore Arun gas field, in a project that – if successful – could use existing infrastructure to begin production quickly, the Canadian company announced on Monday.

3 April 2012
Policy & Regulation

Indian budget under fire for scaring investors away

Measures in India’s newly-proposed budget that would more than double taxes on certain exploration and production projects and overseas investments has drawn heavy fire from the oil and gas industry, which worries the changes will further deter potential investors.

2 April 2012
LNG

Kitimat partners offer equity in LNG project

The three partners of the proposed $15 billion Kitimat LNG plant on Canada's west coast are looking to secure offtake agreements with East Asian buyers. Some of those deals could be concluded by the second quarter of this year, Randy Eresman, chief executive of Encana and Kitimat partner, said at Global LNG Summit in Singapore on Thursday.

30 March 2012
Companies & Finance

Japanese bank and agency supply Gorgon LNG debt

Japanese export credit agency the Japan Bank for International Cooperation (JBIC) and commercial bank Bank of Tokyo Mitsubishi UFJ (BTMU) have agreed to loan $302 million to fund Osaka Gas' stake in the Gorgon LNG project this month.

30 March 2012
Supply & Demand

Japan’s struggle to set a new energy policy

The shutdown of all Japan’s nuclear power stations bar one has forced the country to turn to thermal power – in particular LNG - to meet domestic electricity demand. But there is now a fierce debate going on throughout Japan about the direction of its future energy policy.

29 March 2012
Companies & Finance

Medco Energi moves to acquire gas blocks offshore Sumatra

Indonesia’s private Medco Energi Internasional and two state-run companies have made a formal proposal to jointly acquire two of ExxonMobil’s dwindling offshore gas blocks in northern Sumatra, Dow Jones reported on Thursday.

29 March 2012
Exploration & Production

Petronas signs heads of agreement with Total

Malaysia’s state-run Petronas has signed a heads of agreement with Total to jointly study the development and production potential of the K5 field offshore Sarawak, which has a 70% carbon dioxide content, The Borneo Post reported on Thursday.

29 March 2012
Supply & Demand

Indonesia's PLN for feasibility study into US LNG imports

Indonesian state-controlled power utility Perusahaan Listrik Negara (PLN) has hired local consultants to study the feasibility of importing LNG from the United States to make up for a shortfall in domestic supply, Reuters reported on Thursday.

29 March 2012
Supply & Demand

Tepco seeks further funds to help avoid insolvency

Tokyo Electric Power Company (Tepco) has asked the Japanese government for a capital injection of $12 billion dollars in order to help it avoid insolvency.

29 March 2012
Supply & Demand

Japan’s LNG imports likely to exceed $78 billion in 2012

Japan’s Institute for Energy Economics (IEEJ) warned on Wednesday that its LNG import bill would likely exceed $78 billion in 2012 if mothballed reactors remain offline.

28 March 2012
Supply & Demand

India’s Gail, ONGC sign gas output targets for 2012-2013

India’s state-run Gail has signed a deal with the Ministry of Petroleum and Natural Gas setting a goal of transmitting 12.6 million cubic metres per day (MMcm/d) and selling 85.8 MMcm/d of domestic gas and LNG in the upcoming fiscal year, the company announced on Wednesday.

28 March 2012
Companies & Finance

Kogas shares up

South Korea’s Kogas has posted its largest gain in nine years on the Korea Exchange after partner Eni announced a discovery in Mozambique that increases their resource base by 10 tcf (283.2 bcm), Bloomberg reported on Tuesday.

27 March 2012
Exploration & Production

Unconventionals a focus of ONGC’s $33 billion capex plan

With a capital expenditure plan of $33 billion over the next five years, India’s state-owned explorer ONGC intends to concentrate on exploration and development of CBM and shale gas, in addition to its long-standing focus on buying new oil and gas acreage at home and abroad.

27 March 2012
Exploration & Production

Chubu's No 7 series unit

Japan’s Chubu Electric Power plans to start commercial operations from the gas-fired No 7 series unit at its Nishi-Nagoya power plant by April 2017, two years earlier than planned, Reuters reported on Tuesday.

27 March 2012
Exploration & Production

ONGC Videsh to open talks with Israel

India’s state-run ONGC Videsh, a subsidiary of Oil and Natural Gas Corp., plans to send several top executives to Israel next month to discuss the possibility of exploration and production projects, Indianpetro.com reported on Tuesday.

27 March 2012
Supply & Demand

Pertagas

Pertagas, a subsidiary of Indonesia’s state-run Pertamina, is looking to buy gas blocks overseas which it can develop into LNG export projects, The Jakarta Post reported on Saturday.

26 March 2012
Exploration & Production

Sangu 1 well

Australia’s Santos has found a “small” gas reserve after drilling the Sangu 1 well in Bangladesh’s offshore Block 16 in the Bay of Bengal, The Financial Express reported, citing state-run Petrobangla.

26 March 2012
Supply & Demand

Tepco shutdown leaves Japan with one reactor online

Tepco has shut down its last remaining reactor at the Kashiwazaki-Kariwa plant, a spokesperson confirmed to Interfax on Monday.

26 March 2012

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