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Australia's Mosaic Oil sells PNG subsidiary to 'global major'

Australian junior oil and gas producer Mosaic Oil said Friday it had sold its wholly owned subsidiary in Papua New Guinea, Mosaic Oil Niugini Limited, for $11 million, to a "major international oil and gas company" it declined to identify. MONL's primary asset is a 28.57% ...

Drillers meet with Salazar on moratorium

June 30 - A group of offshore drilling company CEOs, who met privately with US Interior Department officials on June 28, have urged the government not to reimpose a deepwater drilling moratorium that was struck down last week by a federal court judge. But the drillers left the ...

Support builds for shale gas in Australia Canning Basin: explorer

Two reports and a A$150 million ($132 million) farm-in deal at a neighboring tenement support New Standard Energy's belief that the onshore Canning Basin in Western Australia has significant potential for commercial shale gas production, the Australian oil and gas explorer said ...

Latest draft law to boost offshore drilling safety

The country's top legislature has highlighted the safety of its offshore pipelines, amid growing worldwide concern following the Gulf of Mexico oil spill. The latest draft law on oil and natural gas pipelines has authorized the State Council, the country's Cabinet, to make a ...

Bill overhauling offshore drilling introduced in US Senate

June 22 - Legislation that would create three separate federal agencies to administer offshore oil and gas exploration, extend the time to consider drilling permits and make the industry pay for increased safety inspections was introduced late June 21 in the US Senate. The ...

Incoming Australian PM to negotiate on resources tax

Sydney --24Jun2010/347 am EDT/747 GMT Australia has a new prime minister, Julia Gillard, who has promised to open the door to the nation's resources sector to negotiate, rather than consult, on the federal government's controversial proposed Resource Super Profits Tax. Gillard ...

UK 'confident' over deep-water drilling safety rules: minister

London --24Jun2010/804 am EDT/1204 GMT UK energy minister Chris Huhne said Thursday he is confident that country's regulatory regime is robust enough to deal with the risks of deepwater drilling following BP's massive blowout in the Gulf of Mexico. "I am confident that the UK's ...

Support builds for shale gas in Australia Canning Basin: exp

Melbourne --23Jun2010/505 am EDT/905 GMT Two reports and a A$150 million ($132 million) farm-in deal at a neighboring tenement support New Standard Energy's belief that the onshore Canning Basin in Western Australia has significant potential for commercial shale gas production, ...

Shell Pakistan sells LPG business to OPI Gas

ISLAMABAD, June 17 -- Shell Pakistan said that it has agreed to sell its liquefied petroleum gas (LPG) business to OPI Gas (Private) Limited, local media reported Thursday. OPI Gas will acquire 67.91 percent shareholding in Shell Gas LPG, Shell Pakistan said in a statement on ...

Reliance Lagging Sensex Shows Ambani Needs to Expand

June 17 -- Billionaire Mukesh Ambani s Reliance Industries Ltd., India s largest company by market value, must tap the country s hunger for power and communications to boost the stock that has lagged behind key benchmarks, investors say. The oil refiner and energy explorer has ...

Xinjiang resource tax to help conserve resources:senior official

The launch of a resource tax in western China's Xinjiang Uygur Autonomous Region is the first step toward nationwide implementation and will help conserve resources, a senior official said Monday. "Xinjiang is rich in mineral resources like crude oil and gas. The trial move here ...

China Could Uncover up to 32.3 bln tons of Oil

div id="content"> June 7, China still boasts rich oil resources and is likely to discover up to 32.3 billion tons in the future in four specific areas, according to a senior industry researcher. An estimated 12.2 billion tons of oil are likely to be discovered in eastern regions, ...

China introduces resource tax in Xinjiang

China's government Tuesday introduced a new tax on sales of crude oil and natural gas in the western Xinjiang Uygur Autonomous Region, the Ministry of Finance (MOF) said Wednesday. The 5 percent tax is aimed to increase revenue for the local government of the resource-rich ...

PetroChina to earn $2.7b from gas price hike

PetroChina Co, the country's biggest oil and gas producer, with an 80 percent share of the domestic natural gas market, was expected to earn over 18.4 billion yuan ($2.70 billion) as the prices of natural gas climbed up 25 percent Tuesday, according to media reports. China ...

Sinopec to boost unconventional gas production capacity by 2015

p>Sinopec Group (Sinopec)(600028), the country's second-largest oil company, plans to increase its unconventional gas production capacity to more than 2.5 billion cubic meters annually by the end of 2015, a move in line with China's efforts to diversify its energy mix. Sinopec ...

PetroChina lines up $60b to boost overseas oil, gas output

BEIJING - PetroChina Co, the nation's largest oil and gas producer, will invest $60 billion to increase its overseas oil and gas output to 200 million tons every year, Chairman Jiang Jiemin said on Thursday. Jiang told reporters that the company's overseas oil and gas cooperation ...

Cogent offers training grants for women in industry

May 24-The Cogent SSC Women and Work Programme is a new initiative for the science-using industries to support the skills development of women, particularly into non-traditional technical roles. Employers are encouraged to review the skills development needs of their business and ...

No compromise in protecting environment: Indonesian officials

JAKARTA, May 11 - An Indonesia official of the Environment Ministry said Tuesday that there is no compromise in protecting environment and oil-gas companies must adhere to regulations to avoid sanctions. Ilyas Asaad, a deputy of Environment Minister for Environment Management, ...

BP to foot full bill of Gulf oil spill clean-up - US government

SINGAPORE May 03-US President Barack Obama said on Monday that UK s BP will shoulder the full cost of cleaning up the massive oil spill that was threatening to reach US shores, even as the government is helping out in the effort to mitigate a potentially unprecedented environment...

CNPC hastens new energy development

May 5 -China National Petroleum Corp (CNPC), the country's largest oil and gas producer, will speed up development of new energies including coalbed methane, fuel ethanol and oil sands, aiming to set its annual oil-equivalent production capacity at 1.25 million tons this year. ...
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