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Private investment firm H&G will accept Ofer Group Oil & Gas' offer for New Zealand Oil & Gas after ASX-listed Zeta Resources' play to seize control of the company did not meet the minimum acceptance condition and has lapsed. (1-0)
Singapore-based Zeta Energy Pte. Ltd., a wholly owned subsidiary of investment group Zeta Resources Ltd., has launched a partial offer for Wellington-based New Zealand Oil & Gas Ltd. (NZOG). If successful, Zeta would gain a 50.1% controlling interest in NZOG.
Woodside Petroleum Ltd., Perth, plans to drill five wells offshore Myanmar in 2017, one more than originally scheduled, following encouraging results in 2016.
Timor Resources Holdings (TRH), a member of New South Wales engineering company Nepean Group, has been awarded two onshore oil and gas permits in Timor-Leste.
The light, sweet crude oil prices for May delivery fell nearly $2/bbl on the New York market Apr. 19 while Brent crude oil for June delivery also fell nearly $2/bbl on the London market after an unexpected build in US gasoline inventories.
The US Environmental Protection Agency will reconsider its rule covering methane emissions from new, reconstructed, and modified oil and gas sources, and stay the regulation’s June 3 compliance date for 90 days while it takes comments, it announced on Apr. 19.
The International Energy Agency and other global organizations that were created in response to crude-oil supply disruptions in the 1970s may need to be refocused and reformed, a recent Atlantic Council report suggested. Dramatic supply-demand balance changes in the wake of significant technological breakthroughs and the emergence of China, India, and other economic growth powerhouses have created new issues to be addressed, the report said.
Commercial potential for the Galoc Mid Area on Block C1 offshore the Philippines remains inconclusive according to Galoc Production Co. WLL, a subsidiary of Nido Petroleum Ltd., Perth. The operator reported that its Galoc-7 well in Contract Area 14 encountered its reservoir objective between 2,240-2,358 m MD with a gross pay of 115 m and net sand thickness of 8 m comprising poor quality sandstone and claystone (OGJ Online, Apr.
McKinsey Energy Insights (MEI), an energy data and analytics specialist in London, has released its latest Global Oil Supply and Demand Outlook to 2030, which identifies five potential supply and demand scenarios.
Benchmark crude oil prices continued modest declines on the New York and London markets Apr. 18 as concerns persisted about oversupply from the US. The losses continued into early Apr. 19 after weekly inventory data released by the US Energy Information Administration failed to change market sentiment.
Pan Pacific Petroleum NL (ASX:PPP) has agreed to sell its 5% interest in Block 07/03 located in the Nam Con Son Basin in the South China Sea, to Repsol Exploracion S.A for US$5 million.
Pan Pacific Petroleum (ASX:PPP) has been granted a trading halt by the ASX, pending details regarding the disposal of the company’s major undertaking venture.
Private Malaysian oil and gas company Tamarind Management Sdn. Bhd. has completed its buyout of interest holders in Tui oil fields offshore New Zealand’s north island. Tamarind now has 100% ownership of the field.
KUALA LUMPUR (Jan 23): Yinson Holdings Bhd secured a conditional award for the supply of a floating production, storage and offloading (FPSO) facility to Vietnam's Ca Rong Do oil and gas offshore field.
New Zealand Oil & Gas says it's considering an offer to buy its 27.5 per cent interest in the Tui oil field after Tamarind, an energy company backed by Blackstone Energy Partners, agreed to buy the 57.5 per cent stake held by field operator AWE for US$1.5 million.