Industry Developments

The Philippines has reported that 36 companies have applied to bid for the exploration rights to 15 blocks, of which 12 are offshore.

BMI View: New Zealand Refining has signed off a US$425mn upgrade of its 135,000b/d Marsden Point plant - the country's only refinery. The investment should enable New Zealand to cut... 2012-02-27

Chevron is the second IOC to target Chinese shale gas exploration and appraisal. We expect new investment and interest in the second round of licences in 2012 as Beijing seeks to meet... 2012-02-24

BMI View: Completion of Tullow's US2.9bn farm-out deal with Total and CNC signals the end of the long-running saga between Tullow and Kampala. The deal could lead to US$10bn worth of... 2012-02-22

Australia's Woodside Petroleum announced on February 22 2012 that it had raised its gas and condensate resources estimates in the Browse Basin, in a positive sign for its proposed 12mn... 2012-02-22

State-run Oil and Natural Gas Corporation (ONGC) has reportedly won investments from two Middle Eastern sovereign wealth funds.

Perenco looks set to overcome stiff competition to snap up ConocoPhillip's Vietnamese assets. The deal represents a regional shift for Perenco as it seeks to acquire a proven asset... 2012-02-17

US independent Anadarko Petroleum has announced plans to sell its Indonesian assets.

BP has won approval from China's commerce ministry to farm into a deepwater exploration block in the South China Sea, the China Daily reported on February 15 2012, citing Chen Liming,... 2012-02-15

Petronas' agreement to establish a 'Shale Technical Centre of Excellence' alongside Halliburton is another indication that the Malaysian state-run oil company is committed to developing... 2012-02-13