Oil & gas news

Qatargas has signed of a Heads of Agreement (HOA) to supply LNG to Petronas LNG Ltd. with 1.5 million tpa of LNG for 20 years commencing in 2013.

The American Petroleum Institute has announced that petroleum demand was up in June and the first half of 2011.

Iran is threatening to cut off its oil supplies to India next month unless a row over payment is settled.

Santos, the Australian oil and gas producer, has seen a leap in production and its GLNG project is also still on target for first production in 2015.

Total has received government approval to purchase a stake in the Yamal LNG project in the Russian Arctic area.

Rowan sells land based drilling operation to Canada’s Ensign in order to focus on core business.

Gazprom has signed a memorandum to supply the Indian Oil Corporation Limited with 2.5 million tonnes of LNG a year for up to 25 years.

The company follows the current trend of reducing exposure to refining with the aim of concentrating on upstream projects.

The latest EIC Monitor tracking new active and future projects across the global energy industry shows a mixed bag of results this quarter with power leading the way while other sectors are slightly down.

Joy Global Inc. and International Mining Machinery Holdings Ltd (IMM) have jointly announced that TJCC Holdings Ltd (TJCC) and Joy have entered into a share purchase agreement, in which TJCC has conditionally agreed to sell 534.8 million shares of IMM to Joy.