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Chevron To Build Biggest Natural Gas Project in Australia
Chevron Corp. on Monday committed to building Australia’s biggest natural resource project, a $37 billion facility that will pump natural gas from the ocean floor, cool it into a liquid and ship it to the hungry economies of East Asia.
Indian Energy Company in the list top performing energy firms
As many as seven Indian companies figure in the list of the world’s 250 top performing energy firms, with Reliance Industries, ONGC and NTPC grabbing the top Asian ranks.
In the annual rankings of Platts Top 250 Global Energy, ONGC and Reliance Industries have made into the top 50 with rankings of 23 and 39 respectively. [...]
Carlyle Invests oil and gas sector $41 Mln. In Great Offshore
Friday, Carlyle, a US-based private equity firm, said that it has invested $41 million or around Rs. 1,644 crores in Great Offshore, a city based service provider, engaged in the oil and gas sector, reported the media.The investment came through Carlyle Asia Growth Capital Partners, a $680 million fund.
Great Offshore provides services for oil and [...]
Report: World demand to outpace crude oil production
Conventional crude oil supplies won’t keep up with growing global demand in the next 25 years and other fuels from ethanol to liquefied coal and oil from tar sands will be needed to close the gap, says a draft oil industry report.
The draft report by the National Petroleum Council, an advisory group to the federal [...]
RIL eyes JVs in deep-water drilling
In a bid to de-risk its capital-intensive exploration and production (E&P) business, Reliance Industries Ltd (RIL), India’s largest private sector company, is planning to join hands with global oil majors like BP, Chevron, ExxonMobil and Shell for ultra deep sea drilling in India.
“In India, 76% of gas reserves are in challenging deepwaters where risks associated [...]
BP to lose 20 bn dlr oil field amid Russian crackdown
BP’s Russian venture TNK-BP is likely to lose its licence for the $20-illion Kovykta gas field although Moscow could prefer to postpone the tough action until after the G8 Summit and its landmark economic forum. A natural resources ministry commission should annul BP’s permit for the $18 billion Kovykta field at its meeting on [...]
Venezuela seizes last private oil fields
President Hugo Chavez’s government took over Venezuela’s last privately run oil fields Tuesday, intensifying a power struggle with international companies over the world’s largest known single petroleum deposit.
Newly bought Russian-made fighter jets streaked through the sky as Chavez shouted “Down with the U.S. empire!” to thousands of red-clad oil workers in the Orinoco River Basin, [...]
Venezuela seizes last private oil fields
President Hugo Chavez’s government took over Venezuela’s last privately run oil fields Tuesday, intensifying a struggle with international oil companies that could slow development of the world’s largest known petroleum deposit.
Oil Minister Rafael Ramirez declared that the Orinoco River fields reverted to state control just after midnight. State television showed cheering oil workers in hard [...]
Japan Endorses Energy Policy to Step Up Oil Diplomacy (Update1)
Japan’s Cabinet today approved a revised energy policy that highlights stronger ties with nations producing oil, natural gas and uranium, and the development of next-generation nuclear technology, the government said.
“Moving ahead with nuclear power development, concerted efforts to secure stable supply of oil and energy-saving are the pillars of the revised policy,” Trade Minister Akira [...]
