Uutispoimintoja

Venerex sells to Libya for less than original offer

"CALGARY- The board of Calgary-based Verenex Energy Inc. has signed off on a deal to sell the company to Libya, in spite of being offered $136 million less than it had agreed to sell the company for in an earlier deal..."

Kanukit eivät osaa neuvotella terroristien kanssa. "Negotiating with notorious terrorists for dummies"-teos(saatavilla mm. Amazonista) neuvoo tälläisessä tapauksessa kidnappaamaan eversti Mummuinmammarin miespuolisen sukulaisen ja uhkaamaan tämän henkeä. Kanadalaiset tollot uhkailivat jollain kansainvälisellä kauppaoikeuskammarilla.

"Oil Options Hit Highs as Verleger Predicts 44% Plunge

Sept. 21 (Bloomberg) -- Oil traders are paying more than ever in the options market to protect against a plunge in crude prices.

The gap between prices of options betting on a decline and those that would profit from a rise in oil widened to a record 10 percentage points, according to five years of data compiled by Banc of America Securities-Merrill Lynch. Crude stockpiles in the U.S. are 14 percent larger than a year ago and OPEC is pumping 600,000 barrels a day more than the world needs, according to the International Energy Agency..."

Verleger muistaakseni ennusti öljyn käyvän jopa 10 dollarissa. Öljy voi käydä 30 dollarissa, mutta kauan se pysyy siellä? Tuohon hintaan Pohjois-Amerikassa kovin moni tuottaja ei tee rahaa, eikä Pohjanmerellä. Useimmat OPECin jäsenet tekevät. Länsi-yhtiöille esim. 12 kuukautta 30 dollarissa tekee hemmetin moisen vajauksen kassavirtaan ja pistää suuren osan kehitteillä olevista jäihin ja tietysti heikentää yleisesti niiden taloutta. Meksikossa varmasti juhlittaisiin riemuiten 30 dollarin öljyä. Ja Brasiliassa. Molemmat maat saattaisivat harkita ja jopa päätyä OPECin jäseniksi tuollaisessa tilanteessa.

Olen pari viikkoa odottanut öljyn hinnassa selvää pudotusta tuon 60 tienoille. Alle 40 öljyä en pidä todennäköisenä, mutta kaikkeen pitää varautua. Tähän vaikkapa pitämällä käteistä käden ulottuvilla.

NPC to study future transport fuels, N. American oil and gas

"US Energy Secretary Steven Chu would like the National Petroleum Council to conduct studies on future transportation fuels and on prudent development of North American oil and gas resources, NPC members learned at their Sept. 17 meeting.

The study, “The Contributions of the Natural Gas Industry to the US National and State Economies,” was conducted by IHS Global Insight and was the first-ever to separate the gas industry’s US economic impact from that of the domestic oil industry, ANGA officials said at a Sept. 17 briefing.

“It is the policy objective of the United States to protect our nation from the serious economic and strategic risks associated with our excessive reliance on foreign oil and the destabilizing effects of a changing climate,” Chu said in a Sept. 16 letter to NPC Chairman Claiborne P. Deming, who also is chairman of Murphy Oil Corp.

“All energy uses and supply sources must be reexamined in order to enable the transition toward a lower carbon, more sustainable energy mix. Transitions in the energy sector will require the replacement of vehicles, more efficient buildings and industrial facilities, and large-scale deployment of new forms of energy,” the secretary continued.

For the future transportation fuels study, he asked the council to analyze US auto, truck, air, rail, and waterborne transport fuels prospects through 2030. “The study should address fuel demand, source, manufacturing, distribution, and infrastructure,” he indicated.

“Of particular interest is the council’s advice on policy options and pathways for integrating new fuels and vehicles into the marketplace, including infrastructure development. Factors to consider include technological advances, market dynamics, environmental mandates, cost/benefit tradeoffs, and impacts on land and water use,” Chu said.

For the North American resource development study, he asked NPC to reassess the production supply chain and infrastructure potential, and the contribution that gas can make in a transition to a lower-carbon fuel mix..."

Mapping the path for natural gas

Peter Tertzakianin artikkelit(ja kirjat) ovat lukemisen arvoisia. Eri mieltä saa olla.

Uutispoimintoja

BG pegs Guara cache at 2bn barrels

"Brazil’s Guara pre-salt discovery could hold up to two billion barrels of oil equivalent, according to BG Group..."

Ghanem 'a no-show in Vienna'

"Shokri Ghanem is not expected to attend today's Opec meeting, with reports emerging that Libyan leader Muammar Gaddafi may have accepted his resignation as chairman of Libya's National Oil Corporation (NOC)."

G"hanem, who is well liked and respected in the industry, has over the past few months found himself increasingly at odds with the Libyan power elite over Tripoli's embrace of an aggressive oil nationalism.

The FT report claimed that while Ghanem had pushed for Tripoli to pre-empt the sale of Canadian player Verenex to China National Petroleum Corporation - the Chinese giant abandoned its takeover bid yesterday - he opposed Libya's subsequent attempts to buy the explorer at a cut-rate price."

Ghanem sanoi suoraan muistaakseni Upstreamin vai oliko sen BNN:n haastattelussa että NOC ostaa koko Veremexin samaan hintaan mihinkä kiinalaiset olivat sitoutuneet. Libyan johdon toiminta olisi pakottanut Ghanemin syömään sanansa.
Verenexin mukaan llibyalaiset vaativat yhdessä vaiheessa jonkinlaista epävirallista maksua siitä että kauppa olisi hyväksytty. Maksaako Libya koskaan Verenexille mitään tuosta sen löydöstään jää nähtäväksi.

PV Drilling set for fleet expansion

"PetroVietnam Drilling & Well Services Corporation (PV Drilling) plans to invest $1.7 billion until 2025 to build and operate an 11-strong fleet of rigs, including five land rigs and six offshore rigs."

"Kanh said PV Drilling is still keen on a semi-submersible rig, although plans are still being drawn up.

The Vietnamese outfit has called for bids earlier this year for the construction of a semi-submersible drilling tender similar to the 2006-built West Berani delivered from KeppelFels."

Yli $150k j-u dr:t näyttävät olevan historiaa.

BlackPearl strives for growth repeat

"CALGARY - Investors are betting that the team that turned Calgary junior BlackRock Ventures Inc. into a company that sold for $2.4 billion in 2006 can do the same with a freshly minted heavy oil explorer called BlackPearl Resources Inc..."

Itse en ole aiemmin nähnyt BlackPearlissä mitään erityisen kiinnostavaa js vaikka tuo artikkeli ei sisällä juuri mitään uutta tietoa, ansaitsee yhtiö kolmannen vilkaisun. Samalla voisi käydä läpi BlackRock Venturesin kehityskaaren alusta loppuun.

ATP Hits Additional Paydirt at Deepwater Telemark Hub

"ATP has discovered additional pay sands at the Mirage Prospect located at Mississippi Canyon Block 941(MC 941) at ATP's deepwater Telemark Hub in the Gulf of Mexico. The MC 941 #3 well, located in approximately 4,000 feet of water, encountered more than 250 feet of logged net oil and gas pay, more than doubling the pre-drill estimates..."

Pacific Rubiales Energy Announces Continued Exploration Success in Colombia

"Pacific Rubiales Energy Corp. (TSX: PRE) announces today a new oil discovery at its Quifa-7 well, located in Prospect "H" within the Quifa Block, the Llanos Basin of Colombia. The company also provided an update on the operational activity in the block..."

Total boss vents ire at North Sea tax

"The current tax regime and lingering high costs remain stumbling blocks for expansion by major players in the North Sea region, Total boss Christophe de Margerie claimed today.

The French giant's management met with the the UK's Secretary of State for Energy Lord Hunt on Tuesday to voice its growing concerns that the UK's current tax regime will further knock the region's chances for growth, especially as players are struggling with rising contractor rates. ..."

Verenex deal done?

Pertamina Looks to Overseas Oil Fields to Boost Production:

"Among the planned acquisitions is a part of Canada’s Verenex Energy Inc.’s stake in Libya’s area 47 oil field. The area is estimated to contain reserves of 1.19 billion barrels of oil equivalent.

The firm expects to team up with China National Petroleum Corp. in securing the deal."

VNX ended the week on the TSX at C$7.74, which is likely to be near the acquisition price.

Libyan Terror Chief Plans Theft

Upstream: Gaddafi talks nationalisation

Libyan leader Muammar Gaddafi said today he was looking into nationalising oil companies due to low crude prices and suggested Tripoli might not meet Opec production quotas...

Hopefully these are just empty ramblings of a mad man. If he's serious Verenex will be decimated.

Update
Is Libya Going To Boot U.S. Oil Companies?

Just a bluff?

Verenex strikes again

Verenex confirms oil and gas discovery in Libya at H1-47/02 well

"CALGARY, Jan. 12 /CNW/ - Verenex Energy Inc. ("Verenex" or the "Company")
(TSX - VNX) is pleased to provide an update of its operations in Libya and to
confirm an oil and gas discovery at the H1-47/02 new field wildcat ("NFW")
exploration well in Area 47 in the Ghadames Basin. The H1 discovery is the
Company's tenth oil and gas discovery in Area 47 since drilling began in
September 2006. The Libyan National Oil Corporation ("NOC") has also announced
this discovery..."

By the end this month there should more information on Verenex's future. The likeliest scenario is that the company will bought by CNPC, Pertamina or RWE.

CNPC ‘makes play for Verenex’

Upstream

"China National Petroleum Corporation (CNPC), the country's largest oil company, is bidding for Canadian energy company Verenex Energy to broaden its oil and gas assets in Africa, it was reported today.

The deal may worth about $300 million, the South China Morning Post reported, citing sources, noting that a successful bid would broaden CNPC's assets in Africa where Verenex owns a 50% stake in part of Ghadames Basin in Libya."

Pertamina seeks Verenex stake in Libya's Area 47

OGJ:

"Indonesia's state-owned PT Pertamina is considering plans to purchase the 50% stake held by Verenex Energy Inc. in Area 47 of Libya's Ghadames basin.

"Verenex may pull out from the block," said Pertamina upstream director Karen Agustiawan, referring to Area 47, currently owned 50:50 by the Canadian firm and PT Medco Energi Internasional.

Agustiawan said Pertamina is especially interested in Area 47, "as the drilling has been done" and production may begin in 2011 with an initial output estimated at 50,000 b/d.

She added that the block would be Pertamina's third in Libya, if the talks are successful. "We already own two blocks in Libya and are looking forward to see Libya as one of our bases overseas..."

Hopefully the sale goes through, as it's clear that Verenex and Medco do not currently have the resources to develop the block. Raising capital at the moment is nearly impossible and with out a significant financial input the development of the block could be delayed by years.

Libya-focused Verenex Energy opens data rooms to potential buyers

The Canadian Press:

CALGARY — Verenex Energy Inc. (TSX:VNX) has opened data rooms in London "to facilitate a potential corporate sale as one of the strategic options currently under review."

The Calgary-headquartered company, focused on Libya, had announced in September it was considering options but had not specifically said it was for sale. Opening its proprietary information to possible buyers advances that process...