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India Starts Auction of Oil, Gas Exploration Areas (Update2)
India started its largest auction of oil and gas fields, offering 70 areas for exploration when energy producers are cutting investments because of falling prices and the global recession.
Philipines Mining Exploration Policy, ASEAN Gas Pipeline Agreement
The Manila government’s policy of secrecy was assailed last week with the exposure of an ASEAN gas pipeline agreement that was kept secret by Philippine President Gloria Arroyo over the last six years.
The fisherfolk alliance Pamalakaya insisted the Memorandum of Understanding on the Trans-ASEAN Gas Pipeline which the Philippine government signed with Brunei, Cambodia, Indonesia, [...]
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 [...]
APEC to Seek Closer Cooperation Between Oil Companies (Update1)
Asia-Pacific Economic Cooperation countries agreed to seek closer cooperation between oil and gas companies to improve energy trade flows and supply security.
All companies, not just national oil companies, need to cooperate to improve transparency in the market and free up trade, Ian Macfarlane, Australia’s industry minister, said at a media briefing during the APEC energy [...]
Oil Rises Above $60 a Barrel in Asia
Oil Prices Rise Above $60 a Barrel in Asian Trading on OPEC Plan, Cold U.S. Weather.
Oil prices rose above $60 a barrel Tuesday as traders awaited an OPEC meeting later in the week for a clearer price direction. Cold weather forecasts in the U.S. also prompted traders to bid up the cost of home-heating fuels.
Light, [...]
Oil rises above $58 a barrel in Asia
Oil prices rose Friday on news that U.S. heating oil inventories fell and that Norway ordered production shut down at two offshore platforms, sharply reducing flows from the world’s third-largest oil exporter.
Light, sweet crude for November delivery gained 40 cents to $58.26 a barrel in Asian electronic trading on the New York Mercantile Exchange, midafternoon [...]
M3nergy eyes more upstream O&G jobs
KUALA LUMPUR: The global thirst for oil has driven crude oil prices to record level and in turn, made marginal oilfield development a potentially lucrative business for contractors like M3nergy Bhd.
“The project secured in India is an opportunity for M3nergy to move higher upstream,” its managing director and chief executive officer Datuk Shahrazi [...]
Baby-step fuel price rises set to continue
China is all but certain to raise retail gasoline and diesel prices for a third time this year, but will not jack up rates by the more than 15 per cent that would be necessary to close the gap with rallying crude costs.
Anxiety over the impact to the economy and backlash from the rural poor [...]
Drillers invited to brave NZ’s savage southern seas
Energy prices have risen so high Royal Dutch Shell, Exxon Mobil and other natural gas producers are being invited to send rigs to one of the most inhospitable seas on Earth.
Next month, the Government will seek bids to explore in the Great South Basin, off the southern coast. The area was last explored during the [...]
