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Companies

CNOOC targets conservative production growth for 2012

China’s CNOOC Ltd, the listed arm of parent CNOOC, intends to produce 330 to 340 million barrels of oil equivalent (MMboe) in 2012, the company told investors in a conference call on Wednesday.

18 January 2012
Mergers & Acquisitions

Three bidders emerge to lead Romania’s Romgas privatisation

Three consortia have submitted bids to underwrite and mediate a 15% share sale in state-owned exploration and production company Romgas on the Bucharest Stock Exchange, Romania's Ministry of Economics has announced.

17 January 2012
Project Finance

Managing uncertainty in Kazakhstan

The political fallout from riots in west Kazakhstan last month could cast a shadow over the country’s investment climate. With added pressure from the Kashagan field over ballooning budgetary concerns, the country is feeling the heat

17 January 2012
Companies

Range Resources produces record 17.7 MMcm/d of gas equivalent

United States independent Range Resources produced a record 17.7 MMcm/d of gas equivalent in the fourth quarter of 2011, up by 16% over both the previous quarter and year-on-year.

17 January 2012
Companies

Chevron reports two missing after Nigeria rig fire

Two contractors working for United States major Chevron aboard the KS Endeavor jack-up rig offshore Nigeria were still unaccounted for on Tuesday after a fire engulfed the rig on Monday morning.

17 January 2012
Companies

Tepco raises electricity tariffs on the back of rising prices

Tokyo Electric Power (Tepco) plans to raise industrial electricity tariffs by 18% beginning in April, the company said in a statement released online on Tuesday.

17 January 2012
Companies

Potential for joint projects discussed

Italian gas infrastructure company and Eni subsidiary Snam, and its Belgian counterpart, Fluxys G have agreed to evaluate the potential for joint strategies to develop transport, storage or LNG projects in Europe, Snam said on Tuesday.

17 January 2012
Companies

Southwest Oil & Gas eyes 10 bcm annual output by 2015

Sinopec Southwest Oil & Gas, Sinopec’s wholly owned subsidiary, expects to produce 10 billion cubic metres of gas per year by 2015, up from 2.8 bcm last year, Sinopec announced on Monday.

17 January 2012
Mergers & Acquisitions

Petronas awards two deep-water blocks to JX Nippon and Inpex

Malaysia’s state-run Petronas has awarded two deep-water offshore exploration blocks to Japan’s JX Nippon and Inpex, Dow Jones reported on Tuesday.

17 January 2012
Mergers & Acquisitions

ONGC in talks with ConocoPhillips

India’s state-owned Oil and Natural Gas Corp. (ONGC) is in talks with ConocoPhillips about selling oil and gas stakes, but the two have not signed a memorandum of understanding, Reuters reported on Tuesday.

17 January 2012
Companies

Gazprom adapts contracts with European buyers

Gazprom Export has reached agreement and signed documents with several major European buyers to adapt prices for Russian gas bought under long-term contracts to changing market conditions in EU countries.

17 January 2012
Project Finance

Kazakhstan to study proposal to increase Kashagan budget

Kazakhstan’s oil and gas ministry is considering a proposal from the North Caspian Operating Company (NCOC) to raise the budget for the first phase of the Kashagan project, a spokesperson for Kazakh national oil and gas company Kazmunaigas told Interfax on Monday.

16 January 2012
Mergers & Acquisitions

Total looking for acquisition opportunities in Australia

French oil major Total is looking for acquisition opportunities in Australia, according to a report in the Australian Financial Review on Monday.

16 January 2012
Mergers & Acquisitions

Genel increases 20% stake in Chia Surkh to 80%

Genel Energy is increasing its 20% stake in the Chia Surkh exploration block in Kurdistan to 80% and will become the licence operator, the Anglo-Turkish company said in a statement on Monday.

16 January 2012
Mergers & Acquisitions

US upstream M&A

Mergers and acquisitions (M&A) activity in the United States’ upstream oil and gas sector hit record highs in 2011, both in terms of deal values and deal counts, according to the Global M&A Transactions Database of Houston-based oil and gas information service PLS.

16 January 2012
Mergers & Acquisitions

Canadian pipeline giants in $3.1 billion tie-up

Canadian midstream giant Pembina Pipeline announced on Monday that it had acquired fellow infrastructure company Provident Energy for C$3.2 billion ($3.14 billion), in the largest Canadian pipeline deal since 2005.

16 January 2012
Companies

SOCAR produces 7.134 MMcm of gas from Garachuhur

The State Oil Company of Azerbaijan Republic (SOCAR) produced 22,455 tons of oil and 7.134 MMcm of gas from the Garachuhur field in 2011, SOCAR told Interfax on Monday.

16 January 2012
Mergers & Acquisitions

OMV restructuring ramped up by Deutsche Bank appointment

Austrian energy company OMV has accelerated progress in its restructuring programme with the appointment of Deutsche Bank to handle the divestment programme of its refining and marketing business.

16 January 2012
Companies

Novatek: outgrowing the independents

Novatek has outgrown other independent producers and is becoming increasingly competitive with global E&Ps, so is it time to re-evaluate the company's position within Russia’s domestic gas market?

13 January 2012
Companies

Chevron, Statoil and Repsol reach agreement on Canada exploration

Chevron, Statoil, and Repsol announced they have reached agreements on joint exploration offshore Canada on Thursday.

13 January 2012

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