Posts Tagged ‘Asia’

Shell tipped to take stake in InterOil’s Papua New Guinea LNG project

By Christine Forster | May 2, 2013 06:16 AM Comments (1)

Of the three oil and gas majors understood to be vying for a share of US-listed junior InterOil’s Gulf LNG project in Papua New Guinea, Shell is being tipped by some industry insiders as the bidder most likely to succeed.

The PNG government approved InterOil’s plans to develop the 3.8 million mt/year Gulf LNG project in November last year but has required that the company bring in a partner with a track record operating similar projects. At the same time the government said state-owned resources company Petromin would take a 50% stake in the onshore Elk and Antelope gas fields that will feed the LNG project.

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Qatar goes offshore to preserves global LNG dominance

By Tamsin Carlisle | April 18, 2013 12:01 AM Comments (0)

Qatar’s LNG development policy has been a matter of considerable international consternation. Why invest tens of billions of dollars to become the world’s leading exporter of the fuel, and then jeopardize that dominant market position by indefinitely extending a moratorium on most upstream gas development?

Research and consulting company Wood Mackenzie thinks it has the answer to that conundrum.

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China’s oil demand rebounds in July

By News Desk | August 22, 2012 05:01 PM Comments (0)

Chinese apparent oil demand rose in July, according to Platts’ analysis, rebounding from June’s decline, which was the first contraction in more than three years. The rise in July demand was driven by a 53% boost in net imports of oil compared to a month earlier. You can read about the decline, and the sharp turnaround from the growth rates of the past, here.

At the Wellhead: Bangladesh finally seeing some opportunities

By News Desk | August 13, 2012 09:34 AM Comments (0)

Everywhere Bangladesh turns to develop its offshore resources, it seems to run into a border dispute. But some of those are receding, and the country is optimistic about its oil and gas prospects. Mriganka Jaipuriyar has an overview of the country’s outlook in this week’s Oilgram News column, At the Wellhead.

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Petrodollars: CNOOC’s Nexen deal another step in its oil diversification drive

By News Desk | August 6, 2012 11:19 AM Comments (0)

The acquisition of Canada’s Nexen by CNOOC, announced last month, makes sense on many fronts.

It gives CNOOC a stake in the North Sea, which means it’s effective now “long” the Brent market, where China has major exposure; and it also gives it a greater stake in what happens with WTI, since Nexen’s Canadian crude sold into the US will be tied to that benchmark.

Robert Perkins writes in this week’s Oilgram News column, Petrodollars, on the reasons why the deal is a logical one for CNOOC.

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Chinese oil demand: Back to the level of last September

By News Desk | July 23, 2012 01:12 PM Comments (0)

Chinese apparent old demand declined in June, according to Platts’ analysis, a long way from the high-flying double-digit, year-on-year growth levels of just a few years ago. You can read about the decline, and the sharp turnaround from the growth rates of the past, here.

July PX Asia contract price fails to settle, shows disconnect between traders, end-users

By News Desk | July 20, 2012 03:58 AM Comments (0)

The Asian paraxylene contract price for July was left in limbo as PX producers and downstream purified terephthalic acid makers failed to reach an agreement. The ACP monthly negotiation is led by four PX producers — ExxonMobil, JX Nippon Oil and Energy, Idemitsu Kosan and S-Oil — and six PTA makers — BP, Capco, Mitsui Chemicals Corp., Mitsubishi Chemical Corp., Oriental Petrochemical (Taiwan) Corp. and Yisheng Petrochemicals. 

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At the Wellhead: the long decline in Indonesian oil and gas output

By News Desk | July 16, 2012 09:55 AM Comments (0)

Indonesia at one time had so much oil that it was a significant exporter, and it was a member of OPEC. Now it’s trying to reverse a decline in both output and reserves. Mriganka Jaipuriyar discusses the problem in this week’s Oilgram News column, At the Wellhead.

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Australia’s Woodside: a tale of two CEOs

By Christine Forster | July 9, 2012 05:39 AM Comments (0)

Former Woodside Petroleum chief executive Don Voelte made a surprise return to the Australian corporate scene in late June when he was appointed chief executive and managing director of Perth-based Seven West Media, the largest diversified media business in the country.

Analysts, who professed to being shocked by the announcement, were quick to point out Voelte’s lack of experience heading a business which owns Australia’s largest commercial television network and its second-biggest magazine publisher. Seven West Media also owns The West Australian, the leading metropolitan newspaper in the state of Western Australia, of which Woodside’s home Perth is the capital.

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Mapping out China’s bold claims

By Thomas Hogue | July 2, 2012 08:14 AM Comments (0)

It’s one thing to read of the disputed claims in the South China Sea involving China and every other country that lines the edges of this Asiatic body of water, and it’s another thing entirely to see a map that starkly demonstrates just how boldly and aggressively China is pushing its claims.

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