Oil and Gas Insight RSS Feed

PdVSA's Abreu e Lima Stake Derailed Again, But Participation Still Likely (Americas Oil and Gas Insight)

Thu, 09 Feb 2012 00:00 GMT

BMI View: The BNDES' refusal to grant PdVSA a US$10bn loan for the Abreu e Lima refinery marks another milestone in this long-standing saga. However, we believe that, given the company's attachment to the project and its success in providing the right guarantees in 2011, PdVSA's participation in the project is more likely than not. However, we do not exclude the possibility of Petrobras proceeding alone.

New Licensing Round Format Hopes To Tempt Upstream Investment (Asia Pacific Oil and Gas Insight)

Thu, 09 Feb 2012 00:00 GMT

New Zealand is looking to boost interest in its upstream segment by launching a new bidding round and revamping its licensing system.

Growing Vaca Muerta Prospectivity To Offset Mounting Above-Ground Risks (Americas Oil and Gas Insight)

Thu, 09 Feb 2012 00:00 GMT

BMI View: Another upgrade to contingent resource estimates - from 927mn boe to 1,525mn boe - at the Vaca Muerta formation in Argentina's Neuquén basin should help the country sustain its position as a net liquids exporter. Although above-ground risks are rising, tax rises will likely be negated by the area's extremely high prospectivity. For this reason, we believe the government is highly unlikely to nationalise YPF, as the company is helping it win this risky regulatory

Imports Of Iranian Crude To Continue Falling Across Asia, Threatening Tehran's Oil Revenues (Middle East & Africa Oil and Gas Insight)

Thu, 09 Feb 2012 00:00 GMT

The global crude oil trade continues to shift in response to attempts by Western countries to encourage their Asian allies to reduce imports of Iranian crude oil, in line with the political objectives behind tightening sanctions.

Gasoline, Diesel Prices Cut As Government Prepares Subsidy Reform (Asia Pacific Oil and Gas Insight)

Wed, 08 Feb 2012 00:00 GMT

China's National Development and Reform Commission (NDRC) announced on February 7 2012 a rise in gasoline and diesel prices.

Shtokman LNG Continues To Drift, As Gazprom Focuses Elsewhere In 2012 Spending Plan (Emerging Europe Oil and Gas Insight)

Wed, 08 Feb 2012 00:00 GMT

Indications have emerged that Russia's Gazprom does not intend to materially advance in 2012 the proposed Shtokman liquefied natural gas (LNG) project in the Russian Barents Sea.

New Tanin Discovery Bolsters FLNG Export Prospects (Middle East & Africa Oil and Gas Insight)

Tue, 07 Feb 2012 00:00 GMT

BMI View: The discovery of 34bcm of estimated total gross mean resources offshore Israel marks Noble Energy's sixth consecutive strike in the Levant basin. This is further good news for the company and for Israel as it will help the country weather the loss of Egyptian imports, achieve gas independence and increase revenues from gas exports and royalties. Considering the size of Noble's discoveries in Israel and Cyprus, we believe exports to Europe, through the construction of an FLNG, could be in store in the coming decade.

New Cargo To Help PwC Find A Buyer For Coryton (Western Europe Oil and Gas Insight)

Tue, 07 Feb 2012 00:00 GMT

BMI View: The arrival of a new cargo at the Coryton refinery should provide PwC with 'vital breathing space' to negotiate a strategic sale of the plant. We believe that, despite Petroplus' bankruptcy - the plants former owner - and the current turmoil in the European downstream market, the Coryton refinery will find a buyer thanks to its capacity to address the UK's changing fuel

Revocation Of 'Oil Plus' Could Pose Threat To Burgeoning Shale (Americas Oil and Gas Insight)

Mon, 06 Feb 2012 00:00 GMT

BMI View: Argentina's decision to revoke the 'Oil and Refining Plus' programmes is based on the belief that the country's huge shale potential will suffice to lure foreign investment into the sector. However, a more viable solution would have been to introduce an incremental liberalisation of end-user prices that would have improved production margins, curbed demand and decreased fiscal expenditure. The withdrawal of the programme will only damage Argentina's upstream business environment and put the country at risk of a new energy

Algeria To Provide Relief To the Mediterranean, But Eastern Europe To Feel The Chill (Emerging Europe Oil and Gas Insight)

Mon, 06 Feb 2012 00:00 GMT

BMI View: The current cold snap led Russia to cut gas export volumes to Europe over the weekend February 4/5 2012. Although Gazprom has since announced export levels have returned to normal, the current energy crisis caused by the extreme cold weather is unlikely to subside as Russia's continues to struggle to meet domestic energy demand. Alternative suppliers, particularly Algeria, are likely to benefit from the situation and will sell volumes to the Mediterranean market. However, for countries with no direct access to alternative suppliers, such as Ukraine, we see little chance of the situation improving on its own.

Gas Production Weathers Storm Of Low Prices (Americas Oil and Gas Insight)

Fri, 03 Feb 2012 00:00 GMT

We expect US natural gas production to continue growing in 2012, albeit at a much slower rate than in 2011. While we have revised down our forecasts, we do not see a contraction in the growth rate of natural gas production. The slow-down is primarily the result of a ten-year low in natural gas prices which is forcing many operators to target their capital expenditure (capex) towards liquids-rich plays which can attract higher margins.

Statoil's Exit From West Qurna-II Unlikely To Be Repeated At Other Giant Southern Fields (Middle East & Africa Oil and Gas Insight)

Fri, 03 Feb 2012 00:00 GMT

Norway's Statoil appears to be close to selling its 18.75% stake in the second phase of southern Iraq's West Qurna oil field (known as West Qurna-II).

PetroChina Finally Gets Its Hands On A Slice Of Canadian Shale (Americas Oil and Gas Insight)

Fri, 03 Feb 2012 00:00 GMT

PetroChina's Canadian investment makes sense on two fronts: it increases the state-run company's access to unconventional expertise and it is likely to help pave the way for a large LNG supply deal if and when Canadian regulators approve new export facilities in British Colombia.

BHP Billiton Acquisition Possible In 2012 After Shell Signals Woodside Stake Sell-Off (Asia Pacific Oil and Gas Insight)

Fri, 03 Feb 2012 00:00 GMT

Anglo-Dutch major Royal Dutch Shell has made a much-anticipated confirmation regarding its shareholding in Australian independent Woodside Petroleum.

India Mulls Rupee Payment While Crude Imports From Iran Set For Gradual Reduction (Middle East & Africa Oil and Gas Insight)

Thu, 02 Feb 2012 00:00 GMT

India is to send a business delegation to Iran in February 2012 to strike up new non-oil export deals, which would allow New Delhi to pay for Iranian crude imports, an unnamed government official told Reuters on February 2 2012.