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Australian Cooper Energy’s Sales Gas Production Falls Quarter on Quarter
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Australian Cooper Energy’s sales gas production fell by 12% from 2.14 Petajoules in the March quarter to 1.89 PJ in the June quarter, the company said 27 July. Production during the quarter was impacted by the scheduled annual maintenance shut down at the Iona Gas Plant and the shutting in of...
Petronas Relinquishes Two Vietnamese Offshore Blocks
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Malaysian Petronas has decided to relinquish two Vietnamese offshore oil and gas blocks to the host authority once the production sharing contract for the blocks expires on September 9, 2017, it said July 27. The 26-year PSC for Blocks 01 and 02, located at the Cuu Long basin, offshore Vietnam...
Exmar Takes Delivery of Caribbean FLNG
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Belgian shipowner Exmar announced July 27 it took delivery of the Caribbean FLNG barge (CFLNG) earlier that day at China's Wison shipyard. CFLNG consists of a 500,000 tons per year floating liquefaction plant with 16,000 m³ of LNG storage and will remain moored at the Wison yard for now. Exmar...
Lossmaker Conoco 'Turns Corner' in 2Q
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US major ConocoPhillips racked up a $3.4bn loss in the second quarter, it said July 27. That was three times its 2Q2016 loss of $1.1bn. However, impairments on legacy US shale asset sales made up much of its recent quarterly loss. Adjusted earnings – a clearer indicator of business performance...
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Snam to Buy Edison's Adriatic LNG Interests
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Italian gas grid Snam is to buy Edison’s interest in the 8bn m3/yr capacity Adriatic LNG terminal, plus a related pipeline asset. Snam also this week secured a €310mn loan from the European Investment Bank for a €600mn expansion of its Italian network to connect with a new storage site...
[Premium] German Regional Court Gives Date for Opal Decision
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The German regional court in Dusseldorf will publish its decision on the Opal capacity question July 28, a court spokesman has told NGW, declining to give more details before then. The decision however is expected to back up the European Court of Justice, just as it backed it up in December, when it...
Tokyo Gas Bags Bangladesh LNG Study Contract
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Tokyo Gas’s wholly owned subsidiary Tokyo Gas Engineering Solutions, in partnership with Nippon Koei, has been awarded by Petrobangla a feasibility engineering study contract for a land based LNG terminal in Bangladesh, it said July 27. The scope of the study would involve examining the feasibility...
BASF-Wintershall Profits Up on Sales, Prices
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Earnings at German chemicals giant BASF’s oil and gas division (Wintershall) increased on the back of higher prices and sales volumes, it said July 27, helped by resumed production in Libya. BASF said oil & gas sales to third parties increased by 32% year on year to €814mn in 2Q 2017.
Nigerian Seplat Returns to Operating Profit
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Nigerian independent producer Seplat returned to an operating profit in the first half of this year, and expects diversification of export routes for its crude, and growing gas business, to drive long-term profitability. CEO Austin Avuru said: "After 18 difficult months, the company is now well-placed...
Thai PTTEP Buys 10% Stake in Malaysian LNG Project
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Thai PTT has bought a 10% stake in Petronas’ MLNG Train 9 project, which has a capacity of 3.6mn metric tons/yr, it said July 27 while announcing its first half results. The stake was bought by PTT Global LNG, a joint venture formed in June by PTT and its upstream subsidiary PTTEP. “The...
Poland Requests Capacity in Norwegian Link
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Polish state-run gas company PGNiG has officially voiced a need for gas transmission capacity in a Norway-Denmark-Poland line in the first phase of the open season procedure, it said July 27. The link, including the Baltic Pipe pipeline from Denmark to Poland, will enable annual supplies of about 10bn...
Repsol Profits Soar on Higher Prices
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Spanish producer Repsol announced second quarter net profits on July 27 up 79% year on year at €367mn ($430mn). Higher average realised prices helped its E&P performance, with oil up 10% at $44.10/bl and gas up 21% at $2.80/mn Btu; much of Repsol's gas is former Talisman production in North...