Energy Update
BEIJING, July 21 (Reuters) - China's Sinopec Corp
said on Thursday it had cut daily well-head production from its
Puguang gas field in Sichuan province to 4 million cubic metres
after a landslide a day earlier triggered a fire on a trunk gas
pipeline.
MELBOURNE, July 21 (Reuters) - Australia's Oil Search Ltd on
Thursday cleared the way for ExxonMobil Corp to take
over InterOil Corp for $2.2 billion, opting not to raise
its rival offer for its partner in a rich Papua New Guinea gas
field.
LONDON, July 21 (Reuters) - Only one percent of insurers
globally are assessing the risk of being left with investments
in "stranded assets" -- oil and gas reserves held by companies
which may prove unviable as the world moves to a low-carbon
economy, a study showed on Thursday.
Stork, a Fluor company, was awarded a two-year fabric maintenance and asset support services contract by Repsol Sinopec Resources UK across six of their North Sea assets.
Oil giant Saudi Aramco has awarded four engineering contracts for the proposed SAR50bn ($13.3bn) Fadhili gas processing project.
Amec Foster Wheeler has received contract from PT Pertamina (Persero) and Saudi Aramco for upgrade and expansion of the 348,000 barrels per day Cilacap refinery in Central Java.
CLEVELAND/WASHINGTON, July 20 (Reuters) - Republican
presidential candidate Donald Trump has called climate change a
hoax and has vowed not to let regulation stand in the way of
expanded U.S. oil drilling if elected. But a group of his
supporters at the Republican National Convention in Cleveland
this week are lobbying him to soften that stance.
SYDNEY, July 20 (Reuters) - Ken Brinsden rode Australia's
iron ore boom up and then down as head of Atlas Iron.
Now he is chasing a new treasure, one fuelled by a metal
powerful enough to propel electric cars to speeds of 250 km (150
miles) per hour: lithium
TORONTO, July 20 (Reuters) - Canada's main stock index rose
to an 11-month high, then retraced gains to end barely higher on
Wednesday, with gains for railways and banks offset by sharp
losses among gold miners.
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