Greece promises tax cut to attract oil and gas majors

  •  (REUTERS) Greece plans to cut tax for oil/gas firms to 25 pct from 40 pct
  • Wants them to help exploit offshore hydrocarbon resources
  • Announces tender of first oil exploration licences [Read more…]

Indonesia to more than double LNG prices at Tangguh

(REUTERS) Indonesia’s energy ministry will more than double the price of liquefied natural gas (LNG) from its Tangguh plant, operated by Britain’s BP, a government official said. [Read more…]

At the Wellhead: Indonesia tries to kickstart its faltering oil industry

(PLATTS) As Indonesia, once an OPEC member and top LNG exporter, comes to terms with a new reality that awaits it — that in the next five years it is going to become a net importer of energy — the industry is urging the government to do what is necessary to kickstart the E&P engine. [Read more…]

Challenge for India to ease power shortage

(THE NATIONAL) For BVR Mohan Reddy, the head of a major information technology company based in Hyderabad, electricity is vital to his business, but he finds securing power in India a major challenge. [Read more…]

As oil flows east, race is wide open to price Asia’s imports

(REUTERS) China will increasingly dominate global oil trade with a fuel import bill worth half a trillion dollars a year by the end of the decade – a lucrative prospect for futures exchanges battling to provide the benchmark to price Asia’s oil. [Read more…]

Tough fiscal terms seen as major threat to IOCs’ exploration activities

(BUSINESS DAY) Tough government fiscal terms have been identified as the major challenge facing oil exploration by international oil companies (IOCs). This is against the background of the downturn in exploration activity in the oil and gas industry, especially in the deepwater, coupled with decreasing resource size and uncertain gas terms, according to industry operators. [Read more…]

New natural gas royalty structure announced for New Brunswick province in Canada

(SACKVILLE TRIBUNE-POST) The provincial government has developed a new royalty structure that will significantly increase the royalties received for natural gas in the long-term without discouraging development. [Read more…]

Future Challenges for Electricity Security – see the presentations from IEA conference

International Energy Agency

Electricity Security Action Plan Workshop:  “Future Challenges for Electricity Security [Read more…]

Russian oil output hits post-Soviet high

(UPSTREAM) A production ramp-up at Gazprom Neft and Surgutneftegas brought Russia’s oil output to a new post-Soviet high of 10.59 million barrels per day in October. [Read more…]

Tanzania outlines new oil and gas production terms

(REUTERS) * Tanzania outlines payments on signing licenses
* Terms also include new royalty structure [Read more…]