QATAR & EXXON PROJECT
TOGY wrote, Qatar Petroleum (QP) announced on Monday a joint venture with ExxonMobil called Ocean LNG, tasked with marketing LNG sourced outside the GCC country.
QP will own a 70% stake in the project, with ExxonMobil holding the remaining 30%, according to a QP press release.
"QP aspires to be one of the leading energy companies in the world, and LNG forms one of the cornerstones of these aspirations," said QP CEO Saad Sherida Al Kaabi in the statement. "As such, it is crucial for us to establish a global LNG marketing arm that will be instrumental in monetising opportunities that Qatar Petroleum will be pursuing and capturing outside Qatar."
In recent months, Qatar has been seeking to optimise state-owned businesses in order to meet the challenges presented by low oil and gas prices and to gain an edge over potential LNG competitors, including firms drilling in the US and Australia.
In June, QP announced that it would integrate the Qatar International Petroleum Marketing Company, better known as Tasweeq, in order to improve the company's cost-effectiveness. The absorption process is still in progress.
|December, 13, 12:40:00|
|December, 13, 12:35:00|
|December, 13, 12:30:00|
|December, 13, 12:25:00|
|December, 13, 12:20:00|
|December, 13, 12:15:00|
PENNENERGY - Germany's Siemens says it has signed contracts worth some 700 million euros ($824 million) to build two gas-powered electricity plants in Libya.
WNN - Construction of the Iter fusion reactor, being built at Cadarache in the south of France, is now 50% complete, the Iter Organisation has announced. The reactor - construction of which began in 2010 - is scheduled to achieve first plasma in 2025.
REUTERS - U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $57.14 a barrel at 0418 GMT, down 22 cents, or 0.4 percent, from their last settlement. Brent crude futures LCOc1, the international benchmark for oil prices, were down 25 cents, or 0.4 percent, at $63.15 a barrel.
PLATTS - Taking into account the nominated volume for Friday, Gazprom will have exported 179.8 Bcm to what it calls the Far Abroad -- Europe and Turkey, but not the countries of the former Soviet Union -- higher than last year's then record high of 179.3 Bcm.