Industry Developments

News that federal prosecutors will hit Chevron and Transocean with an unprecedented fine and production injunction is likely to be motivated by a desire to restore public faith in offshore... 2011-12-15

US-based Cheniere Energy has secured a significant offtake customer for the planned second export phase of its Sabine Pass LNG terminal.

BMI View: An unpublished business plan obtained from Pemex suggests that Mexico's downstream woes are only likely to worsen. However, although our current forecasts support this pessimistic... 2011-12-12

The Wyoming fraccing study will add another arrow to the quivers of environmentalists as the debate over shale gas drilling rages. Nevertheless, ultimately, we continue to see the broader... 2011-12-09

Total is rumoured to be behind a US$2.1bn bid for a slice of Chesapeake's Utica Shale acreage. The deal values the assets at US$15,000/acre, setting a new standard for valuation in... 2011-12-08

Capital spending among the oil and gas industry's five supermajors - Exxon, Chevron, Shell, BP and ConocoPhillips - is set to rise substantially in 2012 on the back of elevated oil... 2011-12-07

Recent data from the US Energy Information Administration (EIA) point to larger trends in the US oil market, in particular highlighting the market premium for diesel over gasoline.... 2011-12-06

Costa Rica's refining segment has been a major beneficiary of the country's improving relations with China. The upgrade of the country's only refinery will mean that it is able to break... 2011-12-06

Upstream regulator CNH has warned Pemex against pursuing deepwater exploration too rapidly. The comments are likely to lend support for calls to reform the industry and may lead to... 2011-12-05

A US$1.5bn loan could help restore momentum to the the Abreu E Lima project after years of delays. The loan is likely to see China secure valuable crude supplies.