Tag Archives: oil and gas

Oil Search Ltd. Seen Tempting Largest Asia Energy Deal: Real M&A Reply

by • Papua New Guinea News • Tags: , , , , ,

i0uY_yFIZ6lcReposted from Bloomberg Businessweek

By James Paton

The fastest revenue growth in the oil industry is putting Papua New Guinea’s Oil Search Ltd. (OSH) in line for another record — Asia’s largest energy takeover.

The company’s liquefied natural gas venture with Exxon Mobil Corp. (XOM) — called PNG LNG — starts shipments to Asia next year. The project will help Port Moresby-based Oil Search increase revenue by 234 percent through 2015, outpacing every other oil and gas explorer with a market value of more than $10 billion, analysts’ estimates compiled by Bloomberg show. While it’s pushed Oil Search’s shares to a record in Sydney, the stock still isn’t reflecting the potential for the project’s likely expansion, said Commonwealth Bank of Australia. More…

Oil Search hits oil and gas in Iraq and Papua New Guinea Reply

by • Papua New Guinea News • Tags: , , ,

oilbarrels350_51948a2abc157Reposted from Proactive Investors

By Bevis Yeo

Oil Search (ASX: OSH) has intersected oil and gas at its exploration wells in Iraq and Papua New Guinea respectively.

In the Kurdistan Region of Iraq, wireline logs obtained over the company’s Taza-1ST2 well confirmed the presence of oil throughout the Euphrates Formation limestones.
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Shell tipped to take stake in InterOil’s Papua New Guinea LNG project Reply

by • Papua New Guinea News • Tags: , , , , , , ,

LNGReposted from Platts

By Christine Forster

Of the three oil and gas majors understood to be vying for a share of US-listed junior InterOil’s Gulf LNG project in Papua New Guinea, Shell is being tipped by some industry insiders as the bidder most likely to succeed.

The PNG government approved InterOil’s plans to develop the 3.8 million mt/year Gulf LNG project in November last year but has required that the company bring in a partner with a track record operating similar projects. At the same time the government said state-owned resources company Petromin would take a 50% stake in the onshore Elk and Antelope gas fields that will feed the LNG project. More…

PTTEP considers energy investment in Papua New Guinea Reply

by • Papua New Guinea News • Tags: , , , ,

Reposted from the National News Bureau of Thailand

by Suwit Rattiwan

PTTEPBANGKOK, 28 April 2013 (NNT) – Thailand’s leading energy explorer is considering an investment plan in Papua New Guinea although the company has conceded that more time is needed before a conclusion is drawn.

Mr. Tevin Vongvanich, President and Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), revealed that the company’s investment feasibility study has been underway in Papua New Guinea. More…

InterOil Corporation Announces the Retirement of CEO Phil Mulacek Reply

by • Papua New Guinea News • Tags: ,

Reposted from the Wall Street Journal

map_of_papua-new-guineaPORT MORESBY, Papua New Guinea and HOUSTON, April 23, 2013 /PRNewswire/ — InterOil Corporation (NYSE:IOC) (POMSoX:IOC) (“InterOil”) today announced the retirement of its founder and Chief Executive Officer, Phil Mulacek, effective April 30, 2013. Mr. Mulacek will continue as an InterOil director and will provide advisory services to the Company. More…

Private investment up K133 bn in crucial sectors within January Reply

by • Myanmar (Burma) News • Tags: , , , , , , , , , , , , , , ,

Private Investment on the rise for Myanmar

Private Investment on the rise for Myanmar

Reposted from Eleven Myanmar

In a country where most investments go to lucrative mining, hydropower and oil and gas, private investment worth 133 billion kyats (US$156.5m) has been put into transportation, manufacturing, farming and others within a month. More…

Plans for 7-Eleven chain in Cambodia Reply

by • Cambodia News • Tags: , , , , , , , , , , , , , , ,

7-Eleven will be entering the Cambodia market by 2015

7-Eleven will be entering the Cambodia market by 2015

Reposted from The Phnom Penh Post
By Low Wei Xiang

Thailand’s biggest convenience store operator, CP All, plans to apply for licences to open 7-Eleven stores in countries including Cambodia by 2015, according to a Reuters news report yesterday. More…

Myanmar ups its game Reply

by • Myanmar (Burma) News • Tags: , , , , , , , , , , , , , , , , , , , , , ,

Investments from Singapore are the highest in the hotel industry at about US$597 million

Investments from Singapore are the highest in the hotel industry at about US$597 million

Reposted from TRweekly
By Wanwisa Ngamsangchaikit

BANGKOK, 21 January 2013: Association of Thai Travel Agents says Myanmar will become Thailand’s main tourism competitor over the next five to 10 years. More…

Cuba presses drive to strike black gold 1

by • Cuba News • Tags: , ,

Cuba seeks energy independence

Cuba seeks energy independence

Reposted from The Peninsula

HAVANA: Cuba is moving fast to try to tap subsea oil wealth, and will start work in “days” with Russia’s Zarubezhneft, drilling this country’s deepest offshore well yet, state oil firm Cubapet said.

“Cubapetroleo reports that (Norwegian-owned) semisubmersible platform Songa Mercur has arrived offshore off the north-central coast to continue in a matter of days offshore exploratory well-drilling work,” said a statement in Granma, the Communist Party of Cuba’s newspaper.

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SouthWest Energy of Ethiopia to Raise $100 Million in Equity Reply

by • Africa News • Tags: , , , , , ,

SouthWest Energy Ltd. seeks to raise $100 million to finance well drilling in eastern Ethiopia

SouthWest Energy Ltd. seeks to raise $100 million to finance well drilling in eastern Ethiopia


Reposted from Bloomberg
By Sarah McGregor

SouthWest Energy Ltd., an Ethiopian oil and gas exploration company, said it plans to raise $100 million via a private placement in the first quarter of 2013 to help finance a three-well drilling program in the Ogaden basin. More…