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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 [...]
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 [...]
Uranium Funds Points to Near-Term U3O8 Price Decline
Nuclear Market Review [NMR] editor Treva Klingbiel reported in this week’s issue, “Two sellers that were evaluating bids in response to their auctions have concluded their evaluations and have decided not to sell at this time.” She added, “Both sellers preferred to make delivery in June while most bidders were seeking delivery for several months [...]
Oil and gas still needed: ExxonMobil
Oil and gas will remain the world’s biggest sources of energy over the next two decades, ExxonMobil Australia chairman Mark Nolan says.
Mr Nolan told the Australian Petroleum Production and Exploration Association (APPEA) conference in Adelaide that while growth of liquid-based products would lessen, gas and oil would account for 60 per cent of overall energy [...]
Shell, Partners Win Exploration Permits in Australia (Update1)
Royal Dutch Shell Plc, the world’s second-biggest oil company by market value, won two exploration permits off the northwestern coast of Australia as it intensifies a search for natural gas supplies for LNG production.
A venture between Shell and Nexus Energy Ltd. won a permit in the Eastern Browse Basin, while a Chevron Corp.-led venture including [...]
PNG’s Oil Search 2006 profit growth slows
Australian listed Papua New Guinea (PNG) oil and gas producer Oil Search Ltd. reported a slowdown in net profit growth in 2006 on lower output, but forecast a slight rise in production in 2007.
The company, a partner in the Exxon Mobil-operated Papua New Guinea (PNG) gas project, said core net profit before one-offs rose 4 [...]
Australasian Investment Review: Gas/Coal to Oil
You are going to hear a lot about gas/coal to liquids technology in Australia in coming years and it could very well end up supplanting the likes of ethanol and biodiesel as a source of energy in competition with oil.
South Africa has used it for years (Sasol), the Germans used similar technology during World War [...]
