In the week that the ExxonMobil Corp. joint venture’s PNG-LNG project in Papua New Guinea has restarted production from LNG Train 2 and resumed LNG exports after the disruption of the February earthquake, a damning report has emerged saying that the benefits predicted to flow to Papua New Guinea from the overall project have not […]

Perth-based Tap Oil Ltd., has received an unconditional on-market takeover offer from Risco Energy Investments (SEA) Ltd., Singapore, valuing Tap at $29.8 million (Aus.). Source: News

Energy Transfer Partners LP, Dallas, has received approval from the US Federal Energy Regulatory Commission for Rover Pipeline LLC to place additional Phase 2 facilities into service. Construction of the entire project is expected to be completed later this quarter. Source: News

Saudi Arabian Basic Industries Corp. (SABIC) and ExxonMobil Chemical Co. have created a joint venture to advance development of their Gulf Coast Growth Ventures (GCGV) project, a 1.8 million-tonne/year ethane cracker currently planned for construction in San Patricio County, Tex.  Source: News

US crude oil inventories, excluding the Strategic Petroleum Reserve, increased 6.2 million bbl for the week ended Apr. 27, according to US Energy Information Administration data. Source: News

Gran Tierra Energy Inc., Calgary, plans further drilling this year near an appraisal well in Colombia’s Middle Magdalena Valley basin that flowed oil at high pressure from Upper Cretaceous La Luna carbonate. Source: News