Chevron and ENN Sign Gorgon LNG Agreement
Chevron Corporation announced that its Australian subsidiaries have signed a non-binding Heads of Agreement (HoA) with ENN LNG Trading Company Limited (ENN) for the delivery of liquefied natural gas (LNG) to China from the Chevron-operated Gorgon natural gas project in Australia. When the deal is finalized, ENN is expected to receive up to 0.5 million metric tons per annum (MTPA) of LNG over 10 years, with deliveries starting in 2018 or the first half of 2019.
Chevron exits Indonesia's Makassar Strait block
Chevron will exit the Makassar Strait gas block in the Indonesia Deepwater Development (IDD) offshore natural gas project to focus on more promising areas in the venture, Indonesian officials said on Wednesday.Indonesia's energy minister had issued a decree terminating Chevron's Makassar Strait production sharing contract (PSC) after it decided not to extend its operation of the block beyond 2020, upstream oil and gas regulator SKKMigas said."Chevron was not interested in requesting an extension…
Saudi Aramco Shelves Petronas JV Plan
Saudi Aramco has shelved plans for a partnership with Malaysian state-oil firm Petroliam Nasional Berhad in a $27 billion refining and petrochemical project in the southeast Asian country, industry sources familiar with the matter told Reuters on Wednesday. Aramco had been in talks with Petronas about a joint venture in the Refinery and Petrochemical Integrated Development (RAPID) project in the southern Malaysian state of Johor.
Rosneft, PDVSA Firm up Offshore JV
Rosneft and PDVSA signed Heads of Agreement to establish a joint venture for implementation of the large-scale project for production, treatment and sale of natural gas at the offshore fields Patao, Mejillones and potentially Rio Caribe in Venezuela. The Heads of Agreement is concluded in elaboration of the Memorandum on the joint projects development that was signed by the parties in June 2015 at the St-Petersburg International Economics Forum.
Petronas Moving toward FID on Canada LNG Project
Malaysian oil and gas firm Petronas said on Wednesday it was still moving towards a final investment decision on a proposed liquefied natural gas project in Canada, following a newspaper report that it was threatening to walk away from the project. "Petronas, through its subsidiary Pacific NorthWest LNG, is proactively taking steps to mature the project towards its Final Investment Decision," the state-owned firm said in a statement.
Golar LNG Names Smith as CEO
Golar LNG Ltd said Oscar Spieler would replace Gary Smith as chief executive, as the natural gas shipping company realigns operations, including building up its presence in the Brazilian power generation market. The company said on Tuesday it was in talks with a private equity firm for investments in Golar Power, its unit that holds an interest in a 1.5 gigawatt power station in Sergipe, Brazil. Spieler…
Mexico Sets Next Deep-water Oil, Gas Tenders
Mexico's oil regulator, the National Hydrocarbons Commission, set Jan. 31 as the date for the next round of auctions for deep-water oil and gas tenders in the Gulf of Mexico. The so-called 2.4 auctions will offer 30 areas, of which 10 are in the Cordilleras Mexicanas deepwater basin, 10 others in the Salina Basin, nine in the Perdido Fold Belt off the U.S.-Mexico maritime border and one more in the Yucatan platform.
Cameroon Oil Output up Nearly 20% This Year
Cameroon's crude oil production rose 19.4 percent between January and April, compared with a year earlier, to 12.3 million barrels, the state oil company SNH said on Wednesday, without giving a reason for the higher production. The Central African country has been pumping oil since 1977, hitting a peak of 185,000 barrels per day (bpd) 10 years later before slipping. National Hydrocarbons Corporation (SNH) said in a statement that gas production…
Turkey Sees Gas Price Deal with Gazprom in Two Weeks
Turkey and Russia's Gazprom are likely to finalise a deal on natural gas prices by mid-July, Turkish officials told Reuters, after Ankara warned last week it could seek international arbitration if they failed to agree. Russia, which supplies more than half the gas consumed by Turkey annually, has already agreed to cut prices by 10.25 percent, but Gazprom's additional demands regarding the Turkish Stream natural gas project are delaying the final signature, a Turkish energy official said.
Indian Companies Consider Rosneft Stakes, Pipeline
Indian companies are evaluating buying stakes in Russian state oil firm Rosneft , India's oil minister said on Thursday, as Moscow seeks funds to address its state deficit. Russia has been hurt by Western sanctions over its actions in Ukraine, which effectively froze its companies's access to Western capital market, and a plunge in global oil prices. "Indian companies are looking into the offer," said Dharmendra Pradhan, who met the Russian leadership last week at a conference in St. Petersburg.
Tokyo Gas, Alaska Gasline Ink LNG LOI
Tokyo Gas Co Ltd said on Tuesday it signed a letter of intent (LOI) with Alaska Gasline Development Corporation (AGDC) regarding the sale and purchase of liquefied natural gas (LNG). The move follows China's biggest state oil company Sinopec, one of the country's top banks and its sovereign wealth fund agreeing last month to develop the $43 billion natural gas project in Alaska, as the cash-poor U.S. state seeks to revive its dwindling energy industry.
Gazprom Signs Memorandum on Iran LNG
Russian gas giant Gazprom said on Wednesday it had signed a memorandum on possible cooperation in a liquefied natural gas project in Iran. It said the memorandum was signed with Iranian Oil Industry Pension, Saving and Staff Welfare Fund. Iran LNG is designed to have two lines of 5.25 million tonnes of annual capacity, each with a view of eventually increasing total production to 21 million tonnes per year.
Nigeria Investigating Brass LNG Corruption
Nigeria will hold an investigation into alleged corruption involving the state oil firm's long-awaited Brass LNG project, including questions over the use of government funds. The Nigerian National Petroleum Corporation's (NNPC) liquefied natural gas project has been stuck in the planning stages for more than a decade, with some Western partners having pulled out because of tough operating conditions and an unfavourable investment environment.
TransCanada Seeks Okay for LA Cameron Access
TransCanada Corp's Columbia Gulf Transmission unit on Friday filed with U.S. federal energy regulators to commence service on its Cameron Access natural gas project in Louisiana on March 1. One bcfd is enough gas to fuel about five million U.S.
Novatek Shareholders Invested Around $10 bln in Yamal LNG
The shareholders in Yamal LNG, a liquefied natural gas project led by Russia's No.2 gas producer Novatek, have invested around $10 billion into the venture, Novatek Chief Financial Officer Mark Gyetvay told a conference call. The other shareholders are France's Total and China's CNPC. Last month, Novatek also signed a framework agreement allowing China's Silk Road Fund to obtain a 9.9 percent stake in Yamal LNG. (Reporting by Katya Golubkova and Denis Pinchuk)
"Yamal LNG Has High Chance of Attracting Financing"
The Yamal Liquefied Natural Gas project in Russia's far north has a high chance of attracting financing by the end of this year, Russian Energy Minister Alexander Novak said on Saturday, RIA agency reported. Novak said the financing would include $12 billion that has been offered by Chinese banks, RIA reported. "Decisions by the banks have already been taken. Now all that is left is to conclude contracts," it quoted Novak as saying. (Reporting By Jason Bush; Editing by Christian Lowe)
Yamal LNG Project on Track, Says Russia's Sberbank
Russia's Yamal LNG liquefied natural gas project is on track and will be profitable even with low oil and gas prices, Sberbank Chief Executive German Gref said on Tuesday. "This is the most expensive project, (it) will completely change the gas economy of the country," he told President Vladimir Putin. (Reporting by Denis Dyomkin; writing by Vladimir Soldatkin)
Ophir inks JV with Schlumberger for Equatorial Guinea project
British oil and gas explorer Ophir Energy Plc said it had signed an agreement with OneLNGSM, a joint venture between units of Golar LNG Ltd and Schlumberger, to develop the Fortuna project in Equatorial Guinea. Shares in the company rose as much as 13.8 percent, before trading at 77.75 pence at 0956 GMT on the London Stock Exchange on Thursday. Ophir said earlier this month that it could go forward without…
Chevron Greenlights Gorgon LNG Expansion
Chevron Corp will proceed with the second stage of its giant Gorgon liquefied natural gas (LNG) export plant off the northwest coast of Western Australia, the company said on Saturday.Chevron and its joint venture partners plan to sink 11 new wells in the Gorgon and Jansz-Io fields and build offshore pipelines and subsea structures to pipe the gas to the nearby 15.6 million tonne a year LNG plant on Barrow…
Shell Philippines Will Fight $1.1 bln Tax Claim
The Philippine unit of Royal Dutch Shell will exhaust all legal means, including international arbitration, to challenge a $1.1 billion tax claim against its Malampaya natural gas project, a company official said on Friday. Shell Philippines Exploration B.V, is the operator of Malampaya in the southwestern Philippines, along with partners, Chevron Malampaya LLC, a unit of the U.S. energy firm and the Philippines' state-owned PNOC Exploration Corp.