ConocoPhillips and Origin Energy to Create Long-Term Australasian Natural Gas Business

ConocoPhillips and Origin Energy announced their plan to create a long-term Australasian natural gas business focused on coal bed methane production and liquefied natural gas (LNG) processing and sales. The transaction is conditioned upon approval from Australia’s Foreign Investment Review Board and, if required as a result of an outstanding offer from BG to purchase all outstanding shares of Origin... 

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Saudis and ConocoPhillips Press on With Refinery Deal

Saudi Arabian Oil Co., or Saudi Aramco, and ConocoPhillips approved continued funding for development of a refinery in Yanbu, Saudi Arabia, on the Red Sea. The project will create a 400,000 barrel-per-day refinery to process Arabian heavy crude. Startup is set for 2013. Both companies will be responsible for marketing one-half of the refinery’s production. Initial evaluation and front-end engineering... 

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Natural Gas Pipeline Named a Priority for Incoming Alaska Governor Palin

Gov. Sarah Palin told lawmakers Wednesday to soon expect legislation outlining the process for a natural gas pipeline. In her first State of the State address, Palin minced no words about her priorities for this year’s legislative session, which began on Tuesday. “This gas line, it’s going to fuel our homes, our economy, and careers for Alaskans — for generations,” she... 

Conoco, EnCana to link oil sands, refineries

Canada’s Encana Corp. and U.S. oil giant ConocoPhillips said on Thursday they would form a partnership to combine two of EnCana’s oil sands projects with two ConocoPhillips refineries. The companies said together they plan to spend about $10.7 billion to raise production at Encana’s oil sands fields and expand capacity at the ConocoPhillips refineries over the next decade. EnCana,... 

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FACTBOX – Governments boost share of oil, gas income

Emboldened by high oil prices, South American countries are leading the way, but are not alone, among those seeking more cash and control from multinationals that drill in their oil and gas fields. Consumers fear this resurgence of “resource nationalism” will slow investment, tighten supplies and keep oil prices at record highs. But some analysts say with oil hovering near $70 a barrel,...