LONDON (AFX) – ExxonMobil Corp and Qatar Petroleum have forged an alliance to build an Stg 800 million liquefied natural gas (LNG) import terminal in the UK, an ExxonMobil spokeswoman said. Qatar Petroleum, which will supply the LNG, will control 70% of the project. ExxonMobil will hold the remaining 30%. The facility, once completed, can...
BANGKOK (AFX-ASIA) – The cabinet will consider tomorrow a Finance Ministry proposal to set up a 100 billion baht fund to invest in key companies, possibly including Thai Military Bank (TMB) and Thai Petrochemical Industry (TPI), the Bangkok Post reported. (US$1=42 baht). Senior ministry sources told the Post that the fund, which is being positioned...
BEIJING (AFX-ASIA) – The municipal government of Yulin in the northwestern Chinese province of Shaanxi has decided to revoke oil drilling rights from 170 private domestic firms in the name of “asset restructuring”, after allowing them to operate oil wells for nearly nine years, the China Business Times said. Neither the investors nor the local...
Dow Jones Newswires has launched a daily assessment of fuel oil prices in the South China region in a bid to bring greater transparency and liquidity to a growing regional energy market. The launch of the assessment, known as the Dow Jones Huangpu fuel oil benchmark, follows an agreement between Dow Jones Newswires and China’s...
For once, the oil markets are taking a break from war news in the Middle East and looking elsewhere for their leads this week. Renewed political strife in Nigeria and a brewing storm in the Gulf of Mexico are threatening to reduce oil supplies at a time when inventories continue to run low. The Middle...
ExxonMobil Malaysia will invest RM4 billion in upstream activities, development of its natural gas business, and organisational improvements over the next three years, said chairman Rob Fisher. (US$1=RM3.8). Much of the investment would go towards upstream activities, where a large number of its 16 fields are maturing, and the best technology would be put in...