Malaysia's Petronas, Petros finalising deal on gas distribution in Sarawak state, PM says
Anwar Ibrahim, the Prime Minister of Malaysia, said that Petroliam Nasional Berhad and Petroleum Sarawak Berhad are working to finalize details for a long-delayed gas distribution agreement in Sarawak. Both companies have been at odds for months over Sarawak's plans to take control of all gas trading within the energy-rich state away from Petronas - whose sole shareholder, the Malaysian Government, is Petros.
Holiday schedule for US economic and other data
Veterans Day, a federal holiday, will impact the release of major economic, energy, and commodities reports that originated from Washington or were filed there during the week of November 10. The schedule is below. The times are in GMT/EST. Some Treasury announcements may be subject to change. Veterans Day holiday. Federal government offices and the bond market are closed. Stock markets, International Monetary Fund and Federal Reserve open. The U.S.
Romgaz, a Romanian gas company, raises 500 million euros through its debut Eurobond
IFR data show that Romanian state-owned Romgaz issued its first eurobond on Monday. The company sold 500 million euros (559.50 million dollars) of five-year papers to fund a project for deepwater gas in the Black Sea. Romgaz and OMV Petrom have partnered to develop Neptun Deep Black Sea Gas Project, one of Europe's largest natural gas reserves. The project is expected to cost four billion euros, to be divided equally between the two companies.
Russia aims to counter West’s climate agenda by using gas and nuclear power
Pavel Sorokin, deputy energy minister of Russia, said that the country will set its own climate goals and make proposals to combat global warming in an effort to counter the agenda promoted by Western countries. His remarks could be a preview of potential clashes during the COP29 U.N. Climate Summit, due to take place November in Azerbaijan. The Ukraine conflict has strained relations between Russia and the west…
APPEC and Japan's JERA consider Vietnam gas-fired energy plant investment
A senior executive from Japan's largest utility, JERA, said on Wednesday that the company plans to invest in a gas-fired plant in Vietnam as part of its efforts to transition away from coal and towards cleaner fuels. By 2030, power plants that use domestic gas or imported liquefied gas (LNG), with LNG as the major contributor, will be a vital source of energy in Vietnam. The total installed capacity of these plants is expected to reach 37.33 GW.
Offshore Energy Production & the World Economy
As the price of gas continues to seemingly hold steady at around three dollars a gallon, the pocketbooks of Americans continue to suffer. Regretfully, due to global conflict and the outbreak of wars across Europe and the Middle East, oil prices are continuing to climb upwards, troubled by geopolitical conflict and fears of a potential shutdown of international oil and gas fields.Thankfully…
ADNOC, AG&P Agree FSU Lease for Philippines First LNG Terminal Launch in July
The logistics arm of state oil firm Abu Dhabi National Oil Company (ADNOC) will supply a floating storage unit to LNG logistics company AG&P to launch the Philippines' first LNG import terminal in July, the companies said on Wednesday.Singapore-based Atlantic, Gulf & Pacific International Holdings (AG&P) signed an 11-year charter agreement, extendable by four years…
South Korea's POSCO Launches Takeover Bid for Australia's Senex Energy
Australian coal seam gas producer Senex Energy Ltd said it had received a $605 million takeover proposal from POSCO International Corp and was opening up its books to the South Korean trader with the aim of gaining a sweeter offer.The A$815 million or A$4.40 per share offer from POSCO International, the trading arm of steel giant POSCO, has already been twice-improved…
Iran Finds New Oil Field of 53bln Barrels
Iran has discovered a new oil field in the country’s south with an estimated 50 billion barrels of crude oil in the oil-rich Khuzestan province, its president Hassan Rouhani said.However, the US sanctions against Iranian oil could make it difficult for the oil to find its way to international markets.Rouhani made the announcement in a speech in the desert city of Yazd.
Mozambique Eyes $880 Mln in Tax from Anadarko Takeover
Mozambique is targeting $880 million in capital gains tax from the takeover of Anadarko Petroleum by Occidental Petroleum, local newspaper O Pais reported on Friday.Anadarko led a liquefied natural gas project in the southern African country, but it was replaced by Total after the French oil major agreed to buy Anadarko's African assets as part of the Occidental takeover.President Filipe Nyusi announced the capital gains tax target after he met Occide
Jereh Builds 10 LNG Fuelling Stations in Russia
Chinese oil and gas company Jereh has announced that it has won a contract to construct 10 new LNG fueling stations in Russia.According to a statement from the company, it won the bid for 10 LNG fueling stations in Russia, which is believed to be the biggest order for LNG fueling within Russian market till now.Jereh is going to provide integrated services for this project covering modular design, procurement, manufacture, as well as commissioning.
Rovuma LNG Gets Government Green Light
The government of Mozambique has approved development plans for the ExxonMobil-led Rovuma LNG project, which will produce, liquefy and market natural gas from three reservoirs located in the Area 4 block offshore Mozambique, two of which straddle the boundary with neighboring Area 1.“The development plan approval marks another significant step toward a final investment decision (FID) later this year…
Plexus Bags Gazprom Contract Via Gusar
Aberdeen-based oil well technology firm Plexus Holdings said its Russian licensee Gusar had clinched its first major contract to supply gas exploration equipment to Gazprom.The contract covered the first year of an up to five-year jack-up gas exploration drilling programme on the Kara Sea Shelf.Under the terms of a 2016 licence agreement with Gusar, Plexus would…
McDermott Winds FEED for Scarborough FPU
McDermott International, Inc. on Tuesday announced it has signed a contract with Woodside Energy Ltd. to undertake a front-end engineering and design (FEED) activities for a floating production unit (FPU) for the Scarborough field natural gas development in Western Australia.McDermott’s center of excellence in The Hague, Netherlands, will lead the study and early engineering.
Gazprom Neft Considering Arctic LNG Production
Gazprom Neft, the oil arm of Russian gas giant Gazprom, is studying the possibility of its own liquefied natural gas (LNG) production in the Arctic as it tries to monetize its vast natural gas reserves.The discussions follow the successful launch of the Arctic-based Yamal LNG plant, controlled by Novatek, in December 2017.
U.S. Crude, Natgas Proved Reserves Hit Record Highs in 2017 -EIA
U.S. crude oil and natural gas proved reserves rose to record highs in 2017, driven by stronger energy prices and the continuing development of shale formations, the U.S. Energy Information Administration (EIA) said on Thursday.Crude reserves increased 6.4 billion barrels, or 19.5 percent, to 39.2 billion barrels at year-end 2017, marginally higher than the previous record of 39 billion barrels set in 1970."Total U.S.
CNPC Replacing Total in South Pars Gas Project
China’s state-owned CNPC has replaced France’s Total in Iran's multibillion-dollar South Pars gas project, Iranian Oil Minister Bijan Zanganeh said, according to the semi-official news agency ICANA on Sunday."China's CNPC has officially replaced Total in phase 11 of South Pars but it has not started work practically. Talks need to be held with CNPC ... about when it will start operations…
Russia State Oil Firm Starts Drilling at New Well Offshore Vietnam
A unit of Russian state oil firm Rosneft, Rosneft Vietnam BV, has started drilling at a new production well in waters off the southern coast of Vietnam, the company said in a statement posted to its website on Tuesday.The drilling is significant for Vietnam, which has been struggling to maintain its crude oil and gas output amid already declining production from…
To Frack or Not to Frack? Australia's NatGas Dilemma
The decision by the government of Australia's Northern Territory government to allow the resumption of fracking for natural gas will do little to immediately solve the country's energy woes, but will likely sharpen political battle lines. The territory's government said on April 17 that it has lifted a near two-year moratorium on hydraulic fracturing, known as fracking, accepting the recommendations of its own commission of inquiry into the practice.
Iraq: 26 Firms Qualified for Oil & Gas Block Bids
The Iraqi oil ministry said on Friday 26 companies have qualified to bid for oil and gas blocks in border areas. Five companies qualified recently to take part in the bidding round, alongside 21 others already selected, the ministry said in a statement. In November Iraq invited foreign companies to bid for contracts to explore and develop oil and natural gas reserves in nine new blocks as the OPEC nation seeks to boost its output capacity.
