Australian resources company BHP Billiton has released its production report for the quarter ended December 31 2004. The report includes metals, oil and gas. The company said its quarterly production of natural gas reached a record 87.4 billion cubic feet following the commissioning of the North West Shelf fourth train in September 2004. Its...
State oil and gas company Pertamina has decided to maintain the selling price of its fuels for transportation and industry, reversing its position just 24 hours after a surprising announcement that it was going to raise prices. The prices of kerosene, automotive diesel, industrial diesel fuel, regular and premium gasolines will remain unchanged. Bunker...
By Wes Eplen, Commander, US 5th Fleet Public Affairs US, Iraqi and coalition naval forces have been on station and on watch aboard the Al Basrah and Khawr Al Amaya Oil Terminals (ABOT and KAAOT) since the start of Operation Iraqi Freedom, protecting key Iraqi infrastructure nodes. US forces have been aboard these terminals since...
China’s private oil firms are planning to get listed in overseas stock exchanges this year, the China Daily reported. China Chamber of Commerce for the Petroleum Industry deputy secretary Wang Degang gave details of the plan in an interview with the newspaper. The chamber is the first association representing China’s private oil firms. ...
Thai state upstream company PTTEP has reported “strong” financial performance for 2004 on the back of high oil prices and higher sales volumes. Last year, it sold 134,070 barrels/day of oil equivalent (BOED) compared with 107,299 BOED in 2003. The sale price averaged US$23.38 per BOE, compared with US$20.62 per BOE in 2003. PTTEP...
China will soon open up its oil and gas exploration sector, now controlled by the three state oil companies, to private invesors, government sources told The Hong Kong Standard. Exploration activities are now reserved for state firms China National Petroleum Corp, China Petrochemical Corp (Sinopec) and China National Offshore Oil Corp. Mainland private companies...
Indonesia collected revenue of Rp107 trillion from the oil and gas sector last year, far better than the target figure of Rp60 trillion. (US$1=Rp9,000). The country’s Oil and Gas Director General Iin Arifin Takhyan told Antara news agency that last year’s unexpectedly high oil and gas prices had largely contributed to the revenue surge. However,...
Australian upstream company Santos Limited has announced a 25 well, high-impact exploration programme for 2005. It said it will invest a total of A$153 million testing prospects within its expanding domestic and international exploration portfolio Ð up 21% from A$126 million spent on exploration last year. (US$1=A$1.3). Oil is the main focus of the...
Openspec naphtha tonne C+F Japan – US$ 416.25 (-US$14.75 from Jan 28 closing) 95 ron unleaded gasoline barrel FOB Singapore – 50.92 (-1.48) Jet kerosene barrel FOB Singapore – 52.15 (-2.27) Gasoil barrel FOB Singapore – 50.75 (-2.96) LSWR barrel FOB Indonesia – 29.40 (-1.66) HSFO 180cst tonne FOB Singapore – 195.00 (-3.25) HSFO 380cst tonne FOB Singapore – 185.25...
Honeywell said it has begun working on a multimillion dollar automation project with engineering services contractor Parsons FluorDaniel (PFD) as part of a US$3 billion asset development program that will increase the productivity of Tengizchevroil’s (TCO) oilfield in Tengiz, Kazakhstan. The expansion project will increase TCO’s oil production capacity from the current rate of...
Australia’s Federal Court has dismissed the application by Clough Engineering Limited seeking restoration of a A$19.3 million bank guarantee pertaining to a project it undertook in the Bass Straits for a joint venture group headed by upstream company Origin Energy. Clough’s injunction to restrain the calling of a second bank guarantee of another A$19.3 million...
State-run gas utility GAIL (India) Ltd is interested to buy a 10% stake in China Gas Holdings Ltd, said the Indian company’s chairman and managing director Proshanto Banerjee. China Gas, which has exclusive rights to set up city gas distribution projects in 42 cities in China, has “offered us equity to bring value” to...
The fate of a proposed US$4-billion gas terminal in US’s California state by BHP-Billiton could be decided as early as July, said Australian Industry Minister Ian Macfarlane. California state Governor, Arnold Schwarzenegger, is expected to make that decision, said Mr Macfarlane after meeting key government officials in Sacramento city. The project is worth an...
J. Ray McDermott, S.A. (J. Ray), a subsidiary of US engineering firm McDermott International, Inc, and Keppel FELS Ltd (Keppel), a wholly-owned subsidiary of Singapore’s Keppel Offshore & Marine, said that ABB Lummus Global Inc. (ABB) has accepted in principle their joint offer to purchase ABB’s Floating Production Systems US and foreign patents. This...
The salvage of the dredger Cristoforo Colombo, which ran aground at Kholmsk off Russia’s Sakhalin Island last September 8 during a typhoon, has suffered considerable delays due to recent bad weather and obstacles on the seabed. Sakhalin Energy Company said storms the last two months have caused considerable damage to the hull and tanks...
ExxonMobil Chemical has announced that it is expanding the capacity of its world-class oxo alcohol plant in Singapore. The Singapore Chemical Plant will increase its iso-nonyl alcohol capacity from 180,000 tons-per-year to 220,000 tons-per-year by the third quarter of next year. “ExxonMobil Chemical has consistently enhanced its manufacturing scale to respond to customers’ needs worldwide,”...
The Indonesian government made a surprise announcement that it would be raising fuel prices from today, citing rising high international oil prices and a weakening rupiah against the US dollar as the reasons. “The new fuel prices were calculated from average oil prices in the international market of US$41.76 per barrel or increasing 3.4%...