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Thursday, Dec 57:54 AMStatoil, Woodside join hunt for hydrocarbons in New Zealand
Thursday, Dec 57:54 AM| Comment!
- Statoil (STO) and Woodside Petroleum (WOPEF, WOPEY) were among the successful bidders in New Zealand's latest auction of oil and gas permits, five offshore and five onshore, joining Royal Dutch Shell (RDS.A, RDS.B) and a handful of smaller players in the hunt for oil and gas in the country.
- New Zealand has been trying to spark additional interest among larger oil companies due to a steady decline in production over the past five years; oil output in 2012 averaged just over 40K bbl/day, down 13% Y/Y.
Wednesday, Nov 137:43 AMCnooc wins exclusive rights to lands for LNG export project in B.C.
Wednesday, Nov 137:43 AM| 7 Comments
- The Nexen Canadian subsidiary of China's Cnooc (CEO) is awarded exclusive rights to proceed with a proposed terminal to export liquefied natural gas from Canada's Pacific coast.
- Cnooc is teaming up with Japanese oil explorer Inpex and construction engineering firm JGC to build the Aurora LNG export terminal at Grassy Point in British Columbia.
- In winning the exclusive rights, Cnooc edges out other possible suitors for the remote site, including Exxon Mobil (XOM) and Australia's Woodside Petroleum (WOPEF, WOPEY); major energy companies such as Chevron (CVX) and Royal Dutch Shell (RDS.A, RDS.B) also are eyeing gas export projects along the B.C. coast.
Monday, Jul 292:07 PMNoble Energy falls as Woodside may back out of partnership
Monday, Jul 292:07 PM| 1 Comment
- Woodside Energy's (WOPEY.PK, WOPEF.PK) deal to take a 30% stake in Noble's (NBL -2.1%) Leviathan field off the Israeli coast is on the verge of collapse due to NBL's decision to build a pipeline to Turkey instead of developing an LNG plant, as well as the decreased amount of Leviathan gas that will be available for export, Globes reports.
- Shares also were downgraded to Neutral from Buy at BAML.
Saturday, Jun 2912:58 AMWoodside Petroleum (WOPEY.PK -0.5%) is taking its second step toward international expansion by buying majority stakes in multiple blocks of Ireland's offshore Porcupine Basin. Woodside bought 85% of seven blocks owned by London-listed Petrel Resources (PTREF.PK), which rose 8.5% on the London exchange Friday, as well as 90% of six blocks from privately-held Bluestack Energy. Although not reflected by the ADR, Woodside was up almost 1% on the ASX. Its first big move outside Australia was into Israel's Leviathan late last year (previous). |Saturday, Jun 2912:58 AM| Comment!
Tuesday, Jun 258:48 AM
Thursday, May 2310:43 AMThe fastest revenue growth in the oil industry is putting Papua New Guinea’s Oil Search (OISHF.PK) in line for Asia's largest-ever energy takeover, Bloomberg speculates. Its $19B PNG LNG venture with Exxon, sure to spin off lots of cash, starts shipments to Asia next year, and the 80%-complete project is supported by the government and local communities. XOM, TOT and Australia's Woodside could be interested. |Thursday, May 2310:43 AM| Comment!
Tuesday, Apr 309:59 AMWoodside Petroleum reconsiders its decision to abandon plans for a $40B liquefied natural gas development offshore western Australia, agreeing to look at Shell's (RDS.A) floating LNG technology for processing natural gas at sea. Woodside CEO Peter Coleman says he now agrees that floating LNG could be the quickest way to develop the Browse area, which contains ~15.5T cubic feet of natural gas. |Tuesday, Apr 309:59 AM| Comment!
Tuesday, Apr 2311:46 AMShell (RDS.A, RDS.B) is more likely to sell its ~A$7.1B stake in Woodside Petroleum into any significant share price strength on the back of the special dividend just announced by Australia's top oil producer, Macquarie says. Selling now would provide a timely injection of cash for Shell at a time when it’s spending billions of dollars on new facilities in Australia to produce LNG for export. |Tuesday, Apr 2311:46 AM| 2 Comments
Friday, Apr 127:41 AMAustralia's Woodside Petroleum shelves the $40B Browse gas-export project, a strong sign the country's energy construction boom may be peaking. Browse also counts Shell (RDS.A) and BP as partners. The decision wins praise from investors worried about the price tag but it's a blow for Australia’s economy, as the delay means the country may miss the boat in becoming a major beneficiary of Asian demand for LNG. |Friday, Apr 127:41 AM| 4 Comments
Wednesday, Apr 312:37 PMThe move by Australia's Woodside Petroleum to acquire a controlling stake in Israel's biggest natural gas field has presented its minority owner Royal Dutch Shell (RDS.A) with a potential political challenge keeping its Arabic partners on its side. Analysts say Shell may look offload its 23% interest in Woodside, valued at ~$7B; a sale also could provide much-needed capital for Shell’s big Australian development projects. |Wednesday, Apr 312:37 PM| Comment!
Tuesday, Feb 2610:10 AMUBS sees iron ore prices slumping at least 50% by Q3 to their lowest level since 2009, as China boosts production and global supply climbs. Australia is set to deliver ~80% of total new seaborne supply this year, most of it in H2 as China has “sufficient” ore and steel production declines. But first, rates may jump as a severe cyclone nears Port Hedland, the world’s largest bulk export facility. |Tuesday, Feb 2610:10 AM| Comment!
Friday, Feb 228:33 AMThe risk is high that a tropical low off Australia's northwest coast will strengthen into a cyclone by Sunday as it moves closer to the Pilbara mining belt which produces nearly half of the world's seaborne iron ore. The area also is home to two of the country's largest gas production facilities, and oil from offshore fields contribute about a third of Australia's 390K bbl/day of output. |Friday, Feb 228:33 AM| Comment!
Monday, Dec 32012, 5:17 AMAustralia's Woodside Petroleum (WOPEF.PK) agrees to acquire a 30% stake in Israel's massive Leviathan offshore gas field from the operators of the reserve, which include Noble Energy (NBL) and Delek Drilling (DKDRF.OB). Woodside will pay an initial $696M and as much as $550M once certain conditions are met, as well as revenue-sharing money of up to $1B a year. Noble's stake will fall to 30% from 39.66%. (PR) |Monday, Dec 32012, 5:17 AM| Comment!
Thursday, Nov 152012, 10:45 AMIsrael is expected to become a gas exporter by the end of the decade and the companies developing its offshore Leviathan field with an estimated 17Tcf of gas are about to pick a fourth partner to gain crucial know-how. Woodside Petroleum seeks a stake of as much as 30%, and Gazprom may be another contender; Noble Energy and Delek already hold large stakes. |Thursday, Nov 152012, 10:45 AM| Comment!
Monday, Oct 222012, 5:15 AMAustralia's Woodside Petroleum bids for a stake in the massive Leviathan natural gas field off the coast of Israel in which up to 30% of the rights are being sold. The Globes newspaper reports that Woodside's offer values Leviathan at $7.5B, 50% greater than analyst estimates. Other leading bidders include Gazprom and Korea Gas, although Noble Energy (NBL), which owns 40% in Leviathan, prefers a Western Partner. |Monday, Oct 222012, 5:15 AM| Comment!
Tuesday, May 12012, 3:47 AMAussie oil producer Woodside Petroleum (WOPEY.PK) plans to sell a stake in its giant Browse natural gas project to Mitsui and Mitsubishi for $2B. The two Japanese firms will also work with Woodside to market LNG to the Asian market and to help Woodside raise money to finance the project. (PR) |Tuesday, May 12012, 3:47 AM| Comment!