Industry Developments

Venezuela's US$250mn payment is small fry compared to Exxon's original claim for US$12bn in compensation for the seizure of its Cerro Negro assets. However, this is unlikely to be the... 2012-02-16

Chesapeake's latest asset divestment plan comes as no surprise given that cash-flow continues to lag capital expenditure obligations. The US$12bn sale will paper over the cracks for... 2012-02-14

BMI View: Petrobras failed to meet its 2011 liquids production target, and refining losses cannibalised its upstream gains. However, share prices could see a bump in 2012 if Petrobras... 2012-02-14

BMI View: Another upgrade to contingent resource estimates - from 927mn boe to 1,525mn boe - at the Vaca Muerta formation in Argentina's Neuquén basin should help the country sustain... 2012-02-09

BMI View: The BNDES' refusal to grant PdVSA a US$10bn loan for the Abreu e Lima refinery marks another milestone in this long-standing saga. However, we believe that, given the company's... 2012-02-09

BMI View: Argentina's decision to revoke the 'Oil and Refining Plus' programmes is based on the belief that the country's huge shale potential will suffice to lure foreign investment... 2012-02-06

PetroChina's Canadian investment makes sense on two fronts: it increases the state-run company's access to unconventional expertise and it is likely to help pave the way for a large... 2012-02-03

We expect US natural gas production to continue growing in 2012, albeit at a much slower rate than in 2011. While we have revised down our forecasts, we do not see a contraction in... 2012-02-03

US-based Cheniere Energy has secured the world's largest buyer of liquefied natural gas (LNG) as a customer for its proposed LNG export terminal at Sabine Pass in the state of Louisiana.... 2012-02-01

BMI View: Treaty's discovery certainly presents strong upside risks to Belize's oil output, which could rise to 5,000b/d thanks to San Juan-2, and possibly more should further recoverable... 2012-01-31