Search Results
Mining and Energy Companies Investment Delay by Global Financial Crisis
The deepening of the global financial crisis and the sharp drop in energy prices have forced companies to scale back spending and delay projects, with expensive ventures in the Canadian oil sands hardest hit.
Conocophillips Agreed To Pay $9.6 Billion For A Half Stake In Natural Gas Project
ConocoPhillips is an experienced developer and operator of LNG projects around the world and has strong ties to major LNG consumers in Asia.
ConocoPhillips, which boasts a market capitalisation of 125 billion US dollars, will make a 1.5-billion-dollar payment into the new joint venture at the end of 2010 and further payments as the project comes [...]
BHP Will Increasingly Seek Oil and Gas Acquisitions
BHP Billiton Ltd., Australia’s biggest oil and gas producer, said it will increasingly consider acquisitions in petroleum to add to growth opportunities.
Acquisitions may help petroleum expand to as much as 30 percent of the company in terms of value, after the planned purchase of Rio Tinto Group, up from about 20 percent now, J. Michael [...]
British giant B Group $12.9 billion bid for Origin Energy
BRITISH giant BG Group has launched the biggest-ever foreign takeover in the Australian energy sector with a $12.9 billion bid for Origin Energy.
The unsolicited bid, which will require the approval of the Foreign Investment Review Board, comes as companies from resource-hungry countries such as China pursue takeovers across the Australian mining and energy sector.
Origin Energy [...]
UK Gas Producer, BG Group Plc. Propose Bid Origin Energy Ltd. $12 bln
UK gas producer BG Group Plc has made a $12 billion bid approach to Origin Energy Ltd, seeking to bolster its position in the fast-growing Asia-Pacific gas market by securing the Australian utility’s gas reserves.
The companies said BG , valued at around $85 billion, had approached Origin with a proposal of A$14.70 per share in [...]
Mitsubishi Forecasts 25% Net Gain as Oil, Coal Surge (Update3)
Mitsubishi Corp., Japan’s largest trading company, said profit may rise 25 percent this year as soaring oil and coal prices bolster revenue from its energy and commodities businesses.
Net income will probably climb to a record of 580 billion yen ($5.6 billion yen) in the year that started April 1, from 463 billion yen in the [...]
Pressure on oil companies grows to end gas flaring in Nigeria
For three minutes, on the day last May when Royal Dutch Shell released its first quarter earnings figures, a flame shot high into the air in front of the company’s head office in The Hague, scorching a human chain of about 40 protesters that circled it, a few meters away, to block police efforts to [...]
Brunei Darussalam’s oil and gas exploration ready to be drilled in a few days
Brunei Darussalam’s oil and gas reserves are bound to increase with a new oil well ready to be drilled in a few days time. TOTAL E&P Borneo BV has taken a giant stride in exploration with its MLJ2-06 High Pressure and High Temperature (HPHT) project marking another milestone in Brunei’s oil and gas development.
The Minister [...]
BG Group Second-Quarter Net Income Rises 13% on LNG (Update4)
BG Group Plc, the U.K.’s third- largest natural-gas producer, said second-quarter profit rose 13 percent, helped by higher shipping volumes and prices of gas delivered to the U.S.
Net income climbed to 471 million pounds ($962 million) from 418 million pounds a year earlier, the Reading, U.K.-based company said today in a statement. That’s higher than [...]
