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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 [...]
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 [...]
Australia’s Plans Natural Gas Exploration, Booming $15billion a Year LNG Export Industry
THE rapid multi-billion-dollar expansion of Australia’s second-biggest commodity export, liquefied natural gas, could stall if new investors are forced to comply with an emissions trading scheme from 2010.
The warning comes as major emitters continue to lobby for a regulated and cautious start to emissions trading in Australia, saying the credibility of the scheme could be [...]
CB&I awarded LNG contract in Australia
CB&I has been awarded a contract valued in excess of US$373 million by Woodside Burrup Pty Ltd., a subsidiary of Woodside Energy Ltd., and sole developer of the Pluto LNG Project.
The Pluto LNG Project, a liquefaction facility with a forecasted production of 4.8 million tonnes per annum, is located on the Burrup Peninsula in Western [...]
Woodside Petroleum Ltd. Q2 output up, new projects eyed
Woodside Petroleum Ltd. (ASX: WPL.ax) , Australia’s largest independent oil and gas producer, reported a 9 percent rise in second-quarter output on Thursday, with at least three new projects due to come on-line in the next six months.
But output of 17 million barrels of oil equivalent (boe) was down 6 percent on the previous quarter, [...]
ONGC to announce major gas find
Indian state-owned Oil and Natural Gas Corp. said it would announce its major gas finds in the Krishna-Godavari basin in two weeks.
I don’t want to jump the gun. The announcement will be made after the upstream regulator directorate general of hydrocarbons makes an assessment, ONGC Chairman R S Sharma said. Our drilling and exploratory efforts [...]
Mining To Slow Slowly Over Next Two Years
Here’s some good news for the big end of the market where resources are still booming. Leading economic forecaster and industry analyst BIS Shrapnel sees the current boom lasting through until the end of 2008.
It said yesterday that with work in the pipeline and more projects still to start, “investment is forecast to rise another [...]
Korea needs to prepare for global LNG war
What is it? Where does it come from? Korea recently celebrated its national Independence Day, but how can Korea provide for its own energy independence given that we as a nation are energy resource poor? Korea uses nuclear, hydropower, coal, oil and natural gas as its five primary forms of energy.
Every part of Korean life [...]
CLP seeks overseas gas amid challenge from Sinopec
CLP, the larger of Hong Kong’s two electricity producers, said it is in talks with potential suppliers in Australia, Indonesia, Malaysia and the Middle East to purchase natural gas, but has no plans to sign a contract with state oil firm Sinopec for supplies.
CLP, the larger of Hong Kong’s two electricity producers, said it is [...]
