News Archive: Companies & Finance
Kunlun Energy scales back LNG developments
Results | 19 March 2015 09:57 GMT
Kunlun Energy is slowing the pace of its LNG business development, as other domestic LNG producers struggle with high gas costs and low oil prices.
Malaysia doubles LNG exports to Taiwan
Results | 18 March 2015 10:18 GMT
Malaysia’s LNG exports to Taiwan doubled year on year in January, helping to offset a decrease in volumes shipped to South Korea.
PetroChina vice chairman resigns following investigation
People | 17 March 2015 12:02 GMT
PetroChina said on Tuesday that Liao Yongyuan had resigned from his posts as vice chairman and non-executive director on the same day, with immediate effect.
Asian LNG prices rebound slightly after public holiday
Results | 17 March 2015 10:18 GMT
LNG spot prices for Asian buyers last week climbed by 1.52% from the previous week after oil prices rebounded slightly following the Lunar New Year holiday.
Eni looks beyond Africa for future growth
Project Finance | 17 March 2015 10:08 GMT
With a capex cut of 17% over the next four years, Eni is focused on reaching FIDs on its Mozambique LNG project and developing new acreage outside of Africa, executives say.
Nova Scotia Utility and Review Board approves Bear Head LNG plans
Companies | 16 March 2015 12:46 GMT
The Nova Scotia Utility and Review Board has approved Bear Head LNG’s plans for an LNG export plant, the first such authorisation in Eastern Canada.
EGPC farms into Kuwait Energy’s Block 9
Mergers & Acquisitions | 16 March 2015 12:44 GMT
Egyptian General Petroleum Corp. has farmed in a 10% participating interest in Kuwait Energy’s Block 9, in the Basra Governorate in Southern Iraq.
Shell easing off shale in South Africa
Companies | 16 March 2015 12:42 GMT
Shell is pulling back from its shale projects in South Africa because of lower energy prices, although it is still seeking an exploration licence for the onshore Karoo Basin.
Eni signs HOA to invest in Egypt
Project Finance | 16 March 2015 12:39 GMT
Eni has signed a heads of agreement with Egyptian Oil Minister Sherif Ismail to invest $5 billion in projects in Egypt over the next four years.
Naftogaz Ukrainy makes fourth payment for March gas from Russia
Companies | 16 March 2015 12:34 GMT
Naftogaz Ukrainy transferred another $15 million to Gazprom on 12 March as prepayment for Russian gas supplies.
Norwegian exports decline in 2014
Results | 16 March 2015 12:22 GMT
Norway exported 101.1 bcm of gas via pipeline to Europe in 2014, according to data released by the Norwegian Petroleum Directorate.
Eskom suspends CEO and top executives
People | 13 March 2015 13:22 GMT
The board of Eskom has asked four of its senior executives – including Tshediso Matona, the company’s chief executive – to step down while an investigation takes place.
E.On’s change in strategy is too little, too late
Results | 13 March 2015 12:20 GMT
The German giant’s massive restructuring plan is a desperate attempt to stave off disaster in the face of a rapidly changing energy landscape.
East Timor ready to buy Sunrise stake to keep it onshore
Mergers & Acquisitions | 13 March 2015 11:24 GMT
The Timorese government has offered to buy Woodside Energy’s stake in the Greater Sunrise fields to make sure an LNG plant is built onshore.
PGNiG gas sales and profits up
Results | 13 March 2015 10:41 GMT
Poland’s state-owned gas monopoly PGNiG produced 4.5 bcm of gas in 2014 and recorded higher gas sales and profits despite capped Russian imports.
Philippines production rises in trouble-free 2014
Results | 12 March 2015 10:49 GMT
A problem-free year for the Philippines’ sole producing gas field saw production increase in 2014, while output remained steady in Vietnam over the first two months of 2015.
PetroChina creates pipeline JV
Companies | 11 March 2015 14:07 GMT
PetroChina has formed a joint venture to operate a 2.4 billion cubic metre per year pipeline sending regasified LNG to Shanghai.
China’s gas output up 5.5%
Results | 11 March 2015 14:05 GMT
China’s gas output rose to 22.5 billion cubic metres in January and February.
SOCAR’s stake in DESFA finally approved
Mergers & Acquisitions | 11 March 2015 13:55 GMT
Azerbaijan’s hydrocarbon producer State Oil Company of Azerbaijan Republic has confirmed it has acquired a 66% stake in DESFA, the Greek state-owned gas transmission operator.
E.On announces record €3.2 billion loss
Results | 11 March 2015 13:49 GMT
Germany’s E.On has announced a record loss of €3.2 billion ($3.4 billion) for 2014, mainly as a result of impairment charges on its generation business.