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Novatek to announce tender for Yamal LNG plant construction in in March/April

Novatek plans to announce a tender for an engineering, procurement and construction contract to build an LNG plant at the Yamal LNG project in March or April, NOVATEK's co-owner and Chief Executive Leonid Mikhelson told journalists.

2 March 2012
Mergers & Acquisitions

Cove seeks clarity over Mozambique tax comments

London-listed Cove Energy said it was “seeking clarity” about press reports earlier in the week that raised the possibility of a tax charge on its 8.5% stake in the Offshore Area 1 block in Mozambique.

2 March 2012
Results

KMG EP 2011 net profit falls 11% to $1.43 bln

Kazmunaigas Exploration Production (KMG EP) announced on Friday that net profit had declined by 11%year-on-year in 2011 due to a strike at the company’s oilfields in western Kazakhstan and the doubling of crude export duties.

2 March 2012
Project Finance

Debt fears loom over Dana Gas

With Dana Gas still short of a strategy for repaying its $1 billion sukuk in October, restructuring the debt is the best option left open to company. Richard Nield reports.

2 March 2012
Mergers & Acquisitions

WestSide suitor revealed

The mystery party bidding for Australian coal bed methane (CBM) developer WestSide (WCL) was revealed on Friday as Perth-based LNG Limited, which is planning to build the 1.5 mtpa Fisherman’s Landing LNG export project opposite Curtis Island in Gladstone, Queensland.

2 March 2012
Project Finance

Kazmunaigas to fund Kashagan field with state fund

Kazakhstan's government-run state fund will loan domestic energy company Kazmunaigas $4 billion through the issue of bonds to finance its stake in the development of the massive Kashagan field in the Caspian Sea.

2 March 2012
Project Finance

Bank group taking shape for APLNG debt

Project sponsors ConocoPhillips, Origin Energy and Sinopec have formed a bank group to supply a $2.5 billion commercial debt package for the Australia Pacific LNG (APLNG) project.

2 March 2012
Project Finance

Private equity signs up for Sabine Pass LNG

Cheniere Energy has secured a $2 billion equity investment from private equity firm Blackstone to part fund development of the Sabine Pass LNG export facility in Louisiana.

2 March 2012
Project Finance

Surgil due to sign off on debt in March

The sponsors and advisers behind the $4.16 billion Surgil gas and petrochemicals project in Uzbekistan plan to sign off on debt commitments at the end of March before reaching financial close in the second quarter, a banking source told Interfax on Wednesday

2 March 2012
Mergers & Acquisitions

Gazprom and Chinese companies eye Leviathan

Gazprom and Chinese companies are among those eyeing Israel’s giant Leviathan gas field, Interfax has learned.

1 March 2012
Mergers & Acquisitions

Cove is natural fit for Asian bidders

It is no surprise that much of the bidding interest in East African explorer Cove Energy has come from Asia – particularly India – and more could come before the UK-listed independent is sold, according to analysts.

1 March 2012
Mergers & Acquisitions

Gazprom and Chinese companies eye Leviathan

Gazprom and Chinese companies are among those eyeing Israel’s giant Leviathan gas field,Interfax has learned.

1 March 2012
Mergers & Acquisitions

Genel Energy

London-listed Genel Energy has increased its stake in the Chia Surkh block in the Kurdish region of northern Iraq from 20% to 80% and become operator of the block, the company said in a stock exchange announcement on Thursday.

1 March 2012
Results

Lukoil

Lukoil said its fourth-quarter profit fell by 39% after recording a charge related to lower-than-expected reserves.

1 March 2012
Project Finance

Chevron in talks with Russia on Arctic exploration

Chevron has held talks with a senior Russian government official on Arctic exploration, following Prime Minister Vladimir Putin’s hints he would allow non-state companies to operate in Russia's northern seas.

1 March 2012
Companies

PetroVietnam to reduce costs by $178.3 mln

State-run PetroVietnam and its subsidiaries signed a commitment on Tuesday to reduce their production and operation costs by a total of VND 3.715 trillion ($178.3 million) this year, Vietnam News Brief Service reported on Wednesday.

29 February 2012
Results

Endeavour posts net loss of $103.9 million

UK-listed Endeavour International has posted a net loss of $103.9 million for 2011, due to a major impairment of its oil and gas assets in the US, according to a report in UpstreamOnline on Wednesday.

29 February 2012
Mergers & Acquisitions

Hellenic Republic fund invites buyers for Greek gas assets

Greek state-owned Hellenic Republic Asset Development Fund has officially invited potential buyers to make their offers for the purchase of Greece's gas assets.

29 February 2012
Project Finance

Kazakhstan to allocate $4 bln to Kazmunaigas to support Kashagan project

Kazakhstan's committee for managing the country's national fund has decided to allocate a $4 billion loan to state-owned Kazmunaigas in order to support the Kashagan project, the Kazakh Presidential Press Service said in a statement on Wednesday.

29 February 2012
Results

TNK-BP net profit soars 54% to $9 bln in 2011

TNK-BP posted net profit under GAAP accounting standards of $9 billion in 2011, 54% more than in 2010, the company said in a statement.

29 February 2012

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