We hope everyone had a wonderful Thanksgiving and ate far too much yesterday… PetroChina has agreed to buy 25% of the West Qurna oil field in Iraq from ExxonMobil for an undisclosed sum. An analyst at Sanford Bernstein previously estimated the value of ExxonMobil’s 60% interest in the field at $3 billion. [Bloomberg] An easing… Keep reading →
US independent EOG has urged its stakeholders to reject a share purchase offer by TRC Capital, which has made a name for itself – not necessarily a good one – for its unsolicited “mini-tender” bids in a range of industries, including energy. EOG is the latest in a laundry list of large energy companies that… Keep reading →
Water wars in the western US and around the world are predicted with increasing frequency as climate fears grow, debilitating droughts persist and human population growth climbs steadily higher. Concerns about fresh water supplies coming under pressure and the increasing cost of supplying fresh water to people, crops and livestock seem to grow more urgent… Keep reading →
Japan’s Tohoku Electric Power Company has agreed to buy 0.9 million tons per annum of LNG for 20 years from the 8.9 mtpa, Chevron-operated Wheatstone LNG project in Australia. Other committed buyers for Wheatstone production include TEPCO, Kyushu Electric Power Company and Chubu Electric Power Company. First LNG is scheduled for 2016. US independent Apache completed… Keep reading →
Chevron’s financial strength, LNG operational experience and marketing expertise could help the project reach important sales and purchase offtake agreements with buyers. Keep reading →
The best way to get $6 natural gas is to have everyone plan on $3 gas.
That was a sentiment heard repeatedly last week, during the winter meeting of the National Association of Regulatory Utility Commissioners (NARUC) and the Department of Energy’s National Electricity Forum in Washington, DC earlier this month. Keep reading →