Monday, May 25, 2020

Inpex Corp News

Woodside to Boost Vincent Crude Quality to Ride VLSFO Demand

The Ngujima-Yin FPSO is used for production from Greater Enfield Project - Image by Bruce Jacques - MarineTraffic

Woodside Petroleum will improve the quality of Vincent crude by increasing its flash point from July so that it can be blended into very low sulphur fuel oil (VLSFO) and capture higher premiums, two sources told Reuters.Among crude grades, heavy sweet oil, with higher density and less sulfur, is most suitable for blending into VLSFO that meets the new marine fuel sulfur regulations dubbed IMO 2020.

Japan's Inpex Reduces 2020 Profit Guidance by 93%

For illustration; Ichthys Venturer FPSO at Inpex's Ichthys field off Australia - Credit: Inpex

Inpex Corp, Japan's top oil and gas company, on Tuesday cut its annual net profit forecast by 93% after first-quarter earnings slumped due to an oil price collapse and as the coronavirus pandemic choked off international energy demand.The group also warned it is re-evaluating all of its assets and may book impairment losses…

Oil Companies Swap Stakes in Mexico

© somartin / Adobe Stock

With Mexico's government insisting that energy companies increase oil and gas output before it auctions off more of the country's vast reserves or offers more partnerships with state-run Pemex, firms ranging from foreign majors to local players are scrambling to buy and sell blocks they already own.The negotiations are creating a dynamic secondary market for oil acreage…

Inpex Eyes Australia Expansion

Ichthys LNG onshore facilities (Photo: Inpex)

Inpex Corp, Japan's top oil and gas company, wants to expand in Australia at its Ichthys liquefied natural gas (LNG) plant and through potential acquisitions, as part of a plan to become a major regional gas company, its Australian boss said."In Australia our focus is on fully utilizing our Ichthys LNG facilities while creating a solid base for future expansion…

Masela Development Approval Nears

The Indonesian government is set to approve Japanese Inpex Corp's revised plan of development for the Masela natural gas block next week, the chairman of the country's upstream oil and gas regulator SKK Migas said on Wednesday.The government is expecting Inpex to submit the plan for the $20 billion gas project this week, Dwi Soetjipto, the SKK Migas chairman told reporters in Jakarta.Approval of the de

Abadi LNG Development Deal Reached

© Zerophoto / Adobe Stock

Japan's biggest oil and gas explorer Inpex Corp and the Indonesian government signed a basic agreement on the development of Indonesia's Abadi liquefied natural gas (LNG) project on Sunday, moving forward the $15 billion project.Inpex President Takayuki Ueda said the Japanese company, which owns a 65 percent stake in the project…

Shell Pursues Exit from Indonesia LNG Project

Royal Dutch Shell is moving to sell its stake in Indonesia's $15 billion Abadi liquefied natural gas (LNG) project, industry and banking sources said, following on from an asset disposal program that has raised more than $30 billion.Shell, the world's largest buyer and seller of LNG, is raising cash to help pay for its $54…

Prelude FLNG Starts Production in Australia

(Photo: Shell)

Royal Dutch Shell said on Wednesday it has begun output at its Prelude floating liquefied natural gas (FLNG) facility in Australia, the world's largest floating production structure and the last of a wave of eight LNG projects built in the country over the last decade.Though the project started up later and cost more than originally estimated…

ADNOC, Inpex in LNG Bunkering Pact

Photo: ADNOC Logistics & Services

ADNOC Logistics & Services (ADNOC L&S), a wholly-owned subsidiary of UAE's ADNOC, has signed an agreement with Japan's Inpex Corp to collaborate on LNG bunkering activities.Under the agreement, ADNOC L&S and Inpex will explore opportunities for LNG bunkering in the UAE as well as the potential to jointly expand LNG bunkering activities to cover other regions…

Prelude FLNG to Start Producing at End-2018

(Photo: Shell)

Royal Dutch Shell expects production at its Prelude floating liquefied natural gas (LNG) unit to start at the end of the year, a spokeswoman told Reuters on Tuesday."We continue to progress Prelude towards operations, with safety and quality being our main focus ... We expect to see production around the end of the year," she…

First LPG Shipped from Ichthys Project

© Alexander Gorter / MarineTraffic.com

Japan's Inpex Corp said it had sent the first liquefied petroleum gas (LPG) shipment from its giant Ichthys project in Australia.The LPG vessel Hellas Gladiator departed the onshore liquefaction plant at the Ichthys LNG Terminal in Darwin, the company said in a statement late on Friday. Ship tracking data showed the vessel was due to arrive at Yantai in China around Nov.

First LNG Cargo Exported from Ichthys

(File photo: INPEX)

French oil and gas major Total said on Tuesday that the first cargo of liquefied natural gas (LNG) cargo from Australia's Ichthys LNG project has been exported following the production start-up at the end of July.Ichthys LNG, with reserves of more than 3 billion barrels of oil equivalent offshore Western Australia, including around 500 million barrels of condensate, is operated by Japan's Inpex Corp wi

Gas Production Begins at Ichthys LNG Project

Ichthys Explorer CPF (Photo: Inpex)

Inpex Corp said on Monday it has begun producing gas at the $40 billion Ichthys liquefied natural gas (LNG) project off northern Australia, a major milestone for the long-delayed project."The project expects to begin the shipment of products towards the end of the first half of the current fiscal year," Inpex said in a statement.

Shell Feeds Gas to Australia's New Prelude FLNG

Prelude FLNG (File photo courtesy Shell)

Royal Dutch Shell has introduced gas to its 490 meter (1,600 ft) long Prelude floating liquefied natural gas (FLNG) unit as part of the cooling process before start-up, a spokeswoman told Reuters on Wednesday.Gas was fed to the unit from liquefied natural gas (LNG) carrier Gallina, she said.

LNG Prices Climb on Limited Supply

© donvictori0 / Adobe Stock

Asian spot liquefied natural gas (LNG) prices rose this week to their highest since February as buying interest from China remained firm and as supply is expected to be limited during maintenance in August.Spot prices for July delivery in Asia were at $9.60 per million British thermal units (Btu) this week, gaining 40 cents…

Pemex Seeks Offshore Deepwater Partners

File Image (CREDIT: AdobeStock / (c) Mike Mareen)

Mexico's state-run oil company Pemex plans to reach out to existing partners to form new joint ventures for a pair of deepwater blocks it won in a January auction, the company's chief told Reuters on Monday. Pemex is running out of time to find partners for key oil and gas projects as the government looks to show progress from its energy agenda ahead of a July presidential election.

Long wait Ends for Big Oil as Mexico Auctions Prized Blocks

Mexico will on Wednesday offer foreign energy firms the right to drill beneath prized deep waters in the Gulf of Mexico that may contain billions of barrels of oil, the climax of an historic energy reform just five months before a presidential election. The auction of 29 blocks is the biggest since the government of President…

Australia Ramps Up LNG Exports

A laden LNG Carrier underway in the Mediterranean Sea earlier this week. CREDIT: Robert Murphy

Australia LNG exports tipped to rise to 74 mt in 2018-19; Australia's share of Japan, Korea LNG imports seen growing. Australia expects to increase exports of liquefied natural gas (LNG) by 16 percent from mid-2018 as $180 billion in new projects hit their stride, nearly catching up with Qatar, the world's top supplier. Rising…

CNOOC Ends Feasibility Study for Western Canadian LNG Terminal

China's CNOOC Ltd said on Thursday it will end the feasibility study for its (LNG) export terminal on British Columbia's coast due to low global commodity prices, in the latest setback for Canada's energy industry. Nexen Energy, a unit of CNOOC, said in a statement the current macro-economic environment does not currently support developing a large LNG business.

Ichthys LNG Output Expected to Start by Year-end

Japan's biggest oil and gas explorer Inpex Corp expects gas production from the seabed for its offshore Ichthys liquefied natural gas (LNG) project to start from around the end of the year, a senior company executive said on Friday. Inpex in late April delayed the Ichthys start to the first quarter of next year, citing delays in the installation of offshore production facilities.