Mitsui & Co., Ltd. is engaged in the provision of services to facilitate trade and promote the development of commerce and industry around the world as an integrated trading company. Co.'s principal products include metal: iron ore, non-ferrous metals; machinery & information: machinery and the... More
Tuesday, Nov 192013, 9:26 AM
Tuesday, Nov 192013, 9:26 AM| Comment!
- Japanese trading firms Mitsui (MITSF, MITSY) and Itochu (ITOCF, ITOCY) are considering a stake in Tullow Oil's (TUWLF, TUWOY) $4.9B TEN oil project off the coast of Ghana, WSJ reports.
- Tullow said last week that the process to sell down part of its 47% stake in TEN was progressing well and that bids were expected later this month; Tullow wants to sell a 17%-20% stake, which could fetch ~$600M.
- A successful sale would free up Tullow to focus on further projects in Africa, where it has several exploration campaigns under way.
- Tullow's other partners in the project include Kosmos Energy (KOS) and Anadarko Petroleum (APC).
Friday, Oct 252013, 9:59 AM
Friday, Oct 252013, 9:59 AM| 1 Comment
- Sempra Energy (SRE) and its partners are seeking as much as $5B in loans from commercial banks for their Cameron LNG project, Bloomberg reports.
- The planned $10B terminal in Louisiana is among four projects that have gained approval from the Department of Energy to export liquefied natural gas to countries with which the U.S. doesn’t have free-trade agreements.
- SRE holds 50.2% of the project while GDF Suez (GDFZY, GDSZF) and Mitsui (MITSY, MITSF) own 16.6% each and a venture between Mitsubishi and Nippon Yusen has 16.6%.
Wednesday, Oct 22013, 2:59 PM
Wednesday, Oct 22013, 2:59 PM| Comment!
- Brazil's National Petroleum Agency says all 11 companies registered for the Oct. 21 auction of the Libra offshore oil field have qualified to participate in the sale.
- Brazil had previously approved eight firms, but was still reviewing technical and legal documents for France's Total (TOT), Colombia's Ecopetrol (EC) and the Brazilian unit of Portugal's Galp Energia (GLPEF.PK, GLPEY.PK).
- Also approved to bid: Chinese oil companies Cnooc (CEO) and China National Petroleum (PTR); China's Sinopec (SNP) also registered via its joint venture with Spain's Repsol (REPYY.PK, REPYF.PK); Malaysia's Petronas; Japan trading firm Mitsui (MITSY.PK, MITSF.PK); India's ONGC; Royal Dutch Shell (RDS.A, RDS.B) and Brazil's own Petrobras (PBR, PBR.A).
- Officials estimate the 11 companies could form up to three potential bidding groups to compete in the auction.
- Several oil majors are not participating in bidding on Libra, whose development is expected to be pricey.
Thursday, Sep 192013, 6:15 PM
Thursday, Sep 192013, 6:15 PM| 10 Comments
- More on Brazil's planned auction of the Libra oil prospect: Only 11 companies registered to participate - far fewer than the expected 40 - and some of the biggest firms backed out, including Exxon (XOM), Chevron (CVX) and BP (earlier).
- Asian state-owned companies dominate the list of participants: India's ONGC, Malaysia's Petronas, Colombia's Ecopetrol (EC), China's Cnooc (CEO) and China National Petroleum (PTR); China's Sinopec (SNP) will take part through joint ventures with Brazilian units of Spain's Repsol (REPYY.PK, REPYF.PK) and Portugal's Galp Energia (GLPEF.PK).
- Also taking part: Shell (RDS.A, RDS.B), Total (TOT) and Mitsui (MITSY.PK, MITSF.PK).
- Analysts blame the lack of interest on new rules drawn up by Brazil's government that place development and profits under greater state control; too many companies don't want "the trouble of dealing with Petrobras (PBR) and the government. You can get good oil assets elsewhere without that."
- ETFs: EWZ, BRF, EWZS, BRAF, BRXX, UBR, BZQ, BRAZ, BRAQ, BRZS, BRZU.
Thursday, May 162013, 6:10 PMSempra Energy (SRE) signs three 4M-ton/year, 20-year agreements with Japanese and French partners to support development, financing and construction of a liquefied natural gas export facility at the site of SRE's Cameron LNG receipt terminal in Louisiana. The plant will have an export capacity of 12M tons/year and is expected to cost up to $10B; construction will start next year. |Thursday, May 162013, 6:10 PM| Comment!
Thursday, Feb 72013, 8:26 AMSolazyme (SZYM) +4% premarket after joining with Mitsui in a $20M multi-year agreement to develop a suite of triglyceride oils for use primarily in the oleochemical industry. The agreement includes further development of SZYM's high myristic algal oil and additional oils SZYM is developing for the oleochemical and industrial sectors. |Thursday, Feb 72013, 8:26 AM| Comment!
Thursday, Apr 152010, 2:09 PM
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