Sunday, March 29, 2020

Papua New Guinea News

Europe Dominates LNG Import Story in 2019

© Maciej Bledowski / Adobe Stock

Global liquefied natural gas (LNG) production jumped in 2019, triggering oversupply and low prices that are expected to persist in 2020. Initial full-year data from LNG Edge shows exports at 355 million tonnes in 2019…

US Signs Highest LNG Export Contract

Graph: GlobalData

US signed highest volume of global long-term liquefied natural gas (LNG)  export contracts in 2019, accounting for around a 67% of global share. Abundant shale gas production in the US has enabled the country to export natural gas as LNG.

Airswift Eyes APAC Growth

Airswift, the global workforce solutions provider for the energy, process and infrastructure sectors, announced two senior hires to build upon recent successes in the Asia Pacific (APAC) region.

Oil Search Boss to Retire in 2020

Peter Botten (Photo: Oil Search)

Papua New Guinea's biggest company Oil Search Ltd said on Tuesday long-serving Managing Director Peter Botten will retire from the firm next year after 25 years in the role, just as the company…

PNG to seek more from Exxon on P'nyang deal than Total's Papua LNG

Papua New Guinea will press Exxon Mobil Corp for "far better" terms on its P'nyang gas project than the government secured in a recent agreement with Total SA for its Papua LNG project, the country's…

Santos Profit Soars

(Photo: Santos)

Australia's No.2 independent gas producer Santos Ltd on Thursday posted a 89% jump in half-year profit, boosted by its acquisition of Quadrant Energy and strong output from its Cooper Basin fields in South Australia.Santos acquired Quadrant

Oil Search on Tenterhooks over Total's PNG Gas Deal

Oil Search warned on Tuesday that costs for a $13 billion plan to double gas exports from Papua New Guinea could rise if talks on a gas agreement between the government and Total SA drag on beyond…

Santos Posts Record Production in Q2

(Photo: Santos)

Australia's No 2 independent gas producer Santos Ltd said on Thursday it had clocked record gas production in the second quarter on stronger output across its Western Australia gas assets.Production…

Australia to be World's Largest LNG Exporter

Graph: Rystad Energy

Australia is all set to become the world’s largest producer of liquefied natural gas (LNG) next year and to retain that position until 2024, when Qatar will reclaim the top spot, said a report…

Total, Exxon Sign for Papua New Guinea LNG Project

Map: Total

French energy giant Total and its partners ExxonMobil and Oil Search have signed the Gas Agreement with the Independent State of Papua New Guinea defining the fiscal framework for the Papua LNG…

$13 Bln Papua LNG Project Pushes Ahead

France's Total and its partners signed a long-awaited deal with Papua New Guinea on Tuesday that will allow initial work to start on a $13 billion plan to double the country's liquefied natural…

Searcher Seismic Acquires Triok

Image: Searcher Seismic

Searcher Seismic, in cooperation with BGP, has completed the acquisition of the Triok broadband non-exclusive 2D seismic survey in the Northern Basins of Papua New Guinea.Following the acquisition…

Record LNG Capacity to Get Green Light in 2019

(File photo: Novatek)

A record amount of liquefied natural gas (LNG) production is expected to get the green light in 2019 amid strong global demand, especially from China, analysts said.A final investment decision…

ExxonMobil Shelves Canada LNG Export Project

U.S. oil major Exxon Mobil Corp has withdrawn its WCC liquefied natural gas (LNG) export project in Canada from an environmental assessment, it said on Thursday, signalling that the project has…

LNG Shipping Market in Recovery Stage: Flex LNG

Image: Flex LNG

Norwegian-born billionaire John Fredriksen-owned LNG shipper Flex LNG believes that the LNG market is in the early stages of a multi-year recovery.According to a report by Flex LNG, the market…

Total Signs MoU on LNG Project

Image: Total

Total and its partners ExxonMobil and Oil Search have signed a Memorandum of Understanding (MoU) with the Independent State of Papua New Guinea defining the key terms of the Gas Agreement for the…

Papua New Guinea Paves Way for LNG Expansion

© bilalulker / Adobe Stock

A long-awaited project led by France's Total SA that will help double liquefied natural gas (LNG) exports from Papua New Guinea has come another step closer, with the government agreeing to set…

Baker Hughes to Bid for Petrobras Production-sharing Contract

General Electric Co's unit Baker Hughes is preparing an offer for a production-sharing deal with Brazil's Petrobras, a Baker Hughes executive said on Tuesday, as the state-run oil company seeks…

Papua New Guinea LNG Export Plant Offers Cargo for September

© Igor Groshev / Adobe Stock

Exxon Mobil's Papua New Guinea liquefied natural gas (LNG) export plant has offered a cargo for delivery in September, two industry sources said on Tuesday.The cargo is to be delivered into Japan, Taiwan, South Korea or China, and the tende

Exxon Expects More Oil from Guyana's Offshore Block

Exxon Mobil Corp and its partners now expect the large Stabroek oil block offshore Guyana to contain about 25 percent more recoverable resources than estimated, they said on Monday.Exxon and U.S.…