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Attending the recent Aracon bunkering conference in Antwerp, vague memories of a certain Spice Girls song came to mind 'I'll tell you what I want, what I really, really want.' read more
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Sakhalin Energy signs LNG deal with Japan
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MOSCOW, April 20 (RIA Novosti) – Sakhalin Energy, the operator for the massive Sakhalin II project, signed a contract Thursday with a leading Japanese firm to supply 210,000 metric tons of liquefied natural gas annually for the next 20 years.
The deal with Hiroshima Gas, a leading Japanese producer and supplier of natural gas and LNG, says deliveries will be carried out using small vessels with ice-breaking capability to transport about 20,000 cubic meters of LNG each.
Sakhalin Energy, owned by Royal Dutch/Shell (55%) and Japan's Mitsui (25%) and Mitsubishi (20%), is developing two vast offshore fields off the island of Sakhalin in Russia's Far East that hold estimated recoverable reserves of 150 million metric tons of oil and 500 billion cubic meters of gas. It is also building Russia's first liquefied gas plant on Sakhalin with a designed capacity of 9.6 million tons a year. read more
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Energy Briefing |
Martyn Wingrove Lloyds List; Apr 20, 2006
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Manati gathers pace
PETROBRAS and Norse Energy have accelerated development on the Manati gas project off Brazil by bringing in a second jack-up rig. read more
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Militants say exploded car bomb at military base in Nigerian oil hub |
DULUE MBACHU AP Worldstream; Apr 20, 2006
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Ethnic militants fighting government forces in Nigeria's southern oil region said they exploded a car bomb at a military base in the city of Port Harcourt, the main hub of the country's oil industry. read more
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Shell raises prices as oil breaks record |
Irish Times; Apr 20, 2006
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One of the Republic's biggest oil companies increased fuel charges yesterday as crude prices hit new highs on international markets, writes Meg Shreve and Barry O'Halloran read more
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Oil giants seek ban on ONGC and Reliance in Indian round
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Aggressive bidding deters multinationals, writes Shirish Nadkarni in Mumbai Lloyds List; Apr 20, 2006
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MULTINATIONAL oil giants Shell, Exxon and British Petroleum have sought a ban on bidding by India's state-run Oil ' Natural Gas Corp and the privately owned Reliance Industries for fresh oil and gas blocks tenders on the sub-continent. read more
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Extras play role in ratcheting up remuneration as executive pay packages increase by 11%
By Kate Burgess Published: April 20 2006 03:00 | Last updated: April 20 2006 03:00
Investors leafing through the pile of remuneration reports and voting forms ahead of annual meetings will find that basic pay packets haven't grown nearly as much as bonus and incentive schemes.
It is still early in the season but already some institutional shareholders have spotted a trend of “ratcheting” up overall executive remuneration where the double-digit rises are from extras rather than salary. read more
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BP admits 30% cost overrun on Baku pipelineBy Carola Hoyosand Thomas Catan Published: April 20 2006 03:00 | Last updated: April 20 2006 03:00
BP has admitted the Baku-Ceyhan oil pipeline project it manages will cost 30 per cent more than the energy group first expected.
David Woodward, head of BP Azerbaijan, yesterday said the 1,768 km (1,099 mile) pipeline, which is about six months late, would cost $3.9bn (£2.18bn) rather than $2.95bn. read more
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Gazprom issues threat to EU gas supplyBy Neil Buckley and Arkady Ostrovsky in Moscow Published: April 19 2006 19:33 | Last updated: April 19 2006 19:33
Gazprom, Russia’s state-controlled gas monopoly, on Wednesday told European Union countries not to block its international ambitions, warning that it could redirect supplies to other markets.
In a statement after a meeting between Alexei Miller, Gazprom’s chief executive, and EU ambassadors, the company said: “It is necessary to note that attempts to limit Gazprom’s activities in the European market and politicise questions of gas supply, which in fact are of an entirely economic nature, will not lead to good results.” read more
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AFX News Limited
Mitsubishi Corp to invest up to 1.8 trln yen for energy projects – report
04.19.2006, 09:21 PM
TOKYO (AFX) – Mitsubishi Corp will spend 1.5-1.8 trln yen from this year to 2009 to fund existing gas and coal projects, the Nihon Keizai Shimbun reported without citing sources.
Major trading firms have been increasing their investments to take advantage of soaring prices for natural gas and other resources, the business daily said, adding the amount of Mitsubishi's investment marks a sharp increase from the 800 bln yen it initially projected for the years to March 2004 to 2007. read more
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