Seven years after petroleum companies Chevron Corp and PetroChina entered into a joint venture agreement, the USD6.4 billion Chuandongbei gas project faces further delay. It is now expected to deliver gas in the second half of next year.
Energy
Petroperu reviving share sale plans
State-owned oil company Petroleos del Peru SA (Petroperu) is reviving plans to sell as much as 49% of its shares,according to Energy and Mines Minister Jorge Merino.
Utilico cuts stake in Wellington's Infratil via buyback
UK-based investor Utilico Investments has reduced its stake in New Zealand-based energy business operator Infratil through the company's buyback program and a share sale on the market.
NSW government exits renewable energy assets
The New South Wales government will be selling the assets of Green State Power to fund new infrastructure projects in the state, with the deadline for expressions of interest set on January 28.
State-owned Power Grid Corporation to raise up to INR7,600 crore in FPO
State-backed Power Grid Corporation is looking to raise as much as INR7,600 crore by selling 84.71 crore shares in a follow-on public offering. Shares will be priced at INR85 to INR90 apiece.
Latest News
China Development Bank Corp. has committed CNY490 million (USD81 million) to clean-energy operator China WindPower Group's solar farm projects in two Chinese provinces. CDB has provided a total of CNY1.23 billion to China WindPower's previous projects.
Total, Europe's third-biggest oil company, will purchase a 61.3% stake in InterOil Corp.'s liquified natural gas project in Papua New Guinea. The acquisition deal is worth USD3.6 billion.
Multinational conglomerate General Electric Co. intends to proceed with its project to construct a manufacturing site near a port in Rio de Janeiro. The port is being built by LLX Logistica, which was formerly run by Brazilian petroleum titan Eike Batista.
New Orleans-based offshore service vessels provider Tidewater Inc is investing USD30 million to start its subsea operations business, Tidewater Subsea, located in the Gulf of Mexico.
Glencore Xtrata PLC, led by its chief executive officer Ivan Glasenberg, will be committing more capital in thermal coal than rivals BHP Billiton Ltd., Rio Tinto Group and Anglo American PLC.
General Motors (GM) is investing USD11 million to build a new source of energy for its Fort Wayne Assembly Plant, a move that will save the company USD5 million a year.
NRG Yield Inc, a unit of NRG Energy Inc, has agreed to purchase the assets of Nebraska-based Energy Systems Company for USD120 million in cash.
A report from the Straits Times debunked the perception that Chinese firms were facing growing hurdles in the US, citing data that China's investments in the US had nearly tripled this year.
Russian businessman Alexei Khotin could make a takeover offer for London-listed Exillon Energy Plc, a company controlled by Khotin said, setting the stage for a possible bidding war with the oil producer's second-largest investor.
