Far East
News
February 11, 2015
InterOil Corporation has advised that the International Chamber of Commerce arbitration panel has dismissed all claims by the PAC LNG companies, affiliates of Oil Search Limited, to pre-emptive rights over a share sale and purchase agreement involving an interest in the Elk-Antelope gas field in Papua New Guinea.
News
January 30, 2015
HOUSTON -- The oil and gas industry’s leading magazine for upstream technology and activity, World Oil, forecasts a sharp drop in drilling, both in the U.S. and internationally, as a direct result of plunging crude oil prices. In its 89th annual forecast and review, World Oil predicts an average WTI oil price of $55.75/barrel (bbl), while Brent will be $58.80/bbl. A Henry Hub natural gas price of $3.35/MMBtu is expected.
News
January 22, 2015
Indonesia’s LNG exports may drop by a quarter this year as domestic demand climbs and contracts with several overseas buyers are set to expire.
News
January 21, 2015
HOUSTON -- ABS has awarded approval in principle (AIP) for Hyundai Heavy Industries' next-generation HD12000 heavy duty, wide beam drillship design.
News
January 14, 2015
THE WOODLANDS, Texas -- Newfield Exploration has concluded its marketing process for its China business and now plans to retain the assets. For financial purposes, the China business will be reclassified as "continuing operations" in the fourth quarter of 2014.
News
January 13, 2015
BREMEN, Germany -- SAACKE Marine Systems received an initial order from Japan-based JGC Corporation in June 2014 to deliver a complete high temperature water boiler system consisting of a fired hot water boiler with a dual fuel burner and two heat recovery units for Petronas’ second FLNG facility.
News
January 08, 2015
EDINBURGH, SINGAPORE and HOUSTON -- The LNG industry celebrated its 50th birthday in 2014 but while the industry may have matured, Wood Mackenzie finds in its annual review that it's still not short of surprises. Giles Farrer, Wood Mackenzie's Principal Analyst - Global LNG, explains, "Production was up 5 MMtpa to 246 MMtpa and overall trade was boosted by higher levels of re-exports. But the big surprise was that Asian LNG demand was much lower than expected. Demand in emerging markets, like China, failed to grow to the extent anticipated and demand in the established South Korean market fell considerably."
Article
December 2014
China is the predominant player on both the demand and supply sides of the global oil and gas industry.
