Developments in International Oil & Gas | Energy | Extractive Industries
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Court finds Indonesia's oil agency unconstitutional
Indonesia’s Constitutional Court has thrown its resource investment environment into further turmoil by declaring that the country's own oil and gas licensing agency and regulator is unconstitutional | Sidney Morning Herald
Brent falls on demand worries
Brent crude slipped below $108 a barrel on Wednesday, declining for a third day after the International Energy Agency (IEA) further cut its demand outlook for the fourth quarter and 2013 amid a rebound in oil exports from sanctions-hit Iran | Upstream Online
Mining, oil and gas must reduce costs to compete, says Rio Tinto
One of the world's largest mining companies says the spiralling cost of resources development in Australia needs to be kept down | ABC
Gorgon facing $20.9bn cost blow-out
The cost of Chevron’s massive Gorgon liquefied natural cost project in Western Australia could rise as much as A$20 billion (US$20.9 billion), according to reports | Upstream Online
BEIJING, Nov 13 (Reuters) – The pace of nuclear project approvals will be slower in the next few years as China seeks to allay safety concerns in the wake of Japan’s Fukushima crisis, but commitment to the sector remained undimmed, the head of the country’s biggest nuclear firm said | Reuters
Oz injects $119m to improve resource potential
The Australian Government will commit A$114 million (US$119 million) to improve the understanding of the country’s onshore and offshore resource base, and introduce cash bidding for offshore petroleum acreage, the Resources and Energy Minister Martin Ferguson revealed on Wednesday | Upstream Online
China: Citic cheers Lofin flows
China's Citic Resources has flowed both gas and liquids from a sidetrack of the Lofin-1 well on Seram Island in eastern Indonesia | Upstream Online
TRANSACTIONS
HRT signs Namibian farm-out
Brazilian independent HRT told investors Tuesday it had reached an agreement to sell part of its stake in Namibian oil blocks, but did not disclose its new partner | Upstream Online
GE in shale gas discussions with Chinese oil companies
GE Oil & Gas, a subsidiary of the US giant General Electric Co, said it is holding discussionswith China's top three oil and gas companies about possible cooperation on the developmentof the country's shale gas industry | China Daily
PAKISTAN: Polish firm inks deal to provide tight gas to SSGC
ISLAMABAD - Pakistan has inked an agreement for the sale of tight gas in the country with Polish Oil & Gas Company Pakistan branch and price of the gas explored from Kirthar reserves would stand at $6/mmbtu | The Nation
Swiber wins $143m in new work
Singapore-based service provider Swiber Holdings has been awarded two new contracts worth a combined $143 million | Upstream Online
ARTICLES
Deloitte: Oil, gas industry seeing financing transformations
The oil and gas industry is experiencing some transformations in obtaining financing with private equity firms while a steel manufacturer recently took a working interest in Piceance basin natural gas drilling, a spokeswoman with Kohlberg Kravis Roberts & Co. LP told the Deloitte Oil & Gas Conference | Oil & Gas Financial Journal
IEA’s bearish figures paint sharper over-supply picture
For those still puzzled over stubbornly supra-$100/barrel oil prices, the International Energy Agency’s latest monthly report Tuesday provided a wealth of fresh bearish data set to further baffle oil market watchers | Platts
EnergySails harness wind and solar power to cut ship fuel consumption
In the 400 years or so leading up to the adoption of steam power in the 19th century, sailing ships ruled the waves. In an effort to cut increasing fuel costs and reduce emissions, sails are set to once again prove their worth. But unlike the sails proposed by B9 Shipping and the Wind Challenger Project, Japan-based Eco Marine Power (EMP) is developing sails with an even more modern twist. Rather than just harnessing the power of the wind, EMP’s EnergySail can be fitted with solar panels to also harness solar power | GizMag
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