Vietnam Resources - Mining, Oil, Gas RSS News Feed by Intellasia.Net

Philippine miner halts nickel project on weak prices

Sat, 04 Jul 2009 07:00:00 PST

The Philippines' Semirara Mining Corp said on Thursday its 50-percent-held unit has suspended operations at a nickel project north of the capital due to low prices of the metal.

MacroAsia seen to complete Palawan mine exploration

Sat, 04 Jul 2009 07:00:00 PST

Macroasia Corp. expects to complete exploration activities in its P740 million Infanta and Celestial nickel project in Palawan by early 2010.

Sembcorp Marine unit wins $237m rig order

Sat, 04 Jul 2009 07:00:00 PST

Sembcorp Marine Ltd, the world's second-biggest maker of oil rigs, said its unit won a $237.3 million (US$1 = RM3.52) order to build a second floating drilling rig from SeaDragon Offshore Ltd of Norway.

MCI Holdings suspends Philippine nickel mining operations

Sat, 04 Jul 2009 07:00:00 PST

Consunji-owned DMCI Holdings Corp. told the Philippine Stock Exchange on Wednesday that its nickel mining subsidiary has suspended mining operations in Zambales.

PHI mining group signs agreement to mine manganese in Thailand

Sat, 04 Jul 2009 07:00:00 PST

PHI Mining Group, Inc., www.phimining.com, a company focused on mining opportunities in Southeast Asia, today announced that its wholly owned subsidiary Indochina Mining Corporation (IMC), has signed an agreement with Enter Blessing Company Limited, a Thai company, to form a joint venture company, IMC Thailand Manganese Co., in order to exploit manganese deposits in Thailand. PHI GROUP INC. (OTCBB: PHIE) (FRANKFURT: PR7), a company engaged in mergers and acquisitions, real estate development, mining, and investing in special situations (www.phiglobal.com), currently owns approximately 83 percent of PHI Mining Group.

Asian Mineral Resources completes private placement

Sat, 04 Jul 2009 07:00:00 PST

Asian Mineral Resources Limited (the "Company") (TSX VENTURE:ASN) announced today that it has completed the previously announced sale of 11,718,637 shares for gross proceeds of $1,054,677. The shares are subject to a hold period of four months, expiring on October 31, 2009.

Blackrock backed G-Resources hunts Asian gold

Sat, 04 Jul 2009 07:00:00 PST

G-Resources Group, the Hong Kong-listed mining company backed by BlackRock, is seeking to buy gold projects in Asia and Australia to lift annual output to 1 million ounces within five years.

E Timor undecided on Darwin LNG processing plant

Sat, 04 Jul 2009 07:00:00 PST

EAST Timor President Jose Ramos-Horta says it would be more profitable to pipe the gas from the Greater Sunrise gas project to his country, rather than process it on the spot or send it to Darwin.

Thai PTT sets coupons on 30b baht bonds

Sat, 04 Jul 2009 07:00:00 PST

Thailand's top energy firm, PTT PCL, has set coupons on bonds worth 30 billion baht to be sold later this month, underwriters said on Thursday.

Investors eye third oil refinery

Fri, 03 Jul 2009 13:30:48 PST

The oil refinery No 3 in Ba Ria Vung Tau province's Long Son is attracting much attention of new investors including Malaysia's Petronas Group, UEA's IPIC complex, Singapore's Trafigura and Korea's GS Group, citing Dau Tu newspaper.

Coke coal plant with capacity of 350,000 tonnes planned

Fri, 03 Jul 2009 10:28:06 PST

PetroVietnam Finance Joint Stock Co officials have met other funding organisations for the construction of a coke coal plant of Hoa Phat Energy Joint Stock Co on July 02 and has signed cooperation contract at Techcombank's head office.

China buckles on ore price

Fri, 03 Jul 2009 07:52:55 PST

Australia's iron ore miners have won their long-running price battle with China's government-owned steel producers.

Medusa shares soar before halt

Fri, 03 Jul 2009 07:00:00 PST

Medusa Mining has entered a trading halt this afternoon pending a resource upgrade for its Co-O mine in the Philippines.

Three traders seek fuel price hikes

Fri, 03 Jul 2009 07:00:00 PST

Three of the nation's 11 oil products trading firms have asked the authorities for approval to raise fuel retail prices from today, citing rising world oil prices.

PNG landowners upset at Hidden Valley mine over spinoffs

Fri, 03 Jul 2009 07:00:00 PST

The leader of a Papua New Guinea landowners collective has warned the operators of the Hidden Valley gold mine in Morobe province that their staff could be shot at if the local people aren't included in spinoff activities.

Philippine's Petroenergy Resources sells stake in Galoc field

Fri, 03 Jul 2009 07:00:00 PST

Listed-firm Petroenergy Resources Corp. has sold its 1.03-percent participating interest in Service Contract 14C or the Galoc oil field in offshore Palawan, for $800,000 per percentage interest point.

Indonesia Oil and Gas Report Q1 2009

Fri, 03 Jul 2009 07:00:00 PST

The latest Indonesia Oil & Gas Report from BMI forecasts that the country will account for 4.32 percent of Asia Pacific regional oil demand by 2013, while providing 10.91 percent of supply. Asia Pacific regional oil use of 21.40mn b/d in 2001 reached 25.68mn b/d in 2007. It should average 26.32mn b/d in 2008, and then rise to around 29.65mn b/d by

Bright prospects for gold miners

Fri, 03 Jul 2009 07:00:00 PST

Inflation fears may be creating a golden opportunity for investors in companies producing the precious metal, an analyst says.

ExxonMobil sells 20pct stake in Indonesia blocks

Fri, 03 Jul 2009 07:00:00 PST

Exxon Mobil has sold a 20 percent stake in two offshore exploration blocks in Indonesia to Malaysia's state oil firm Petronas [PETR.UL], an official at the country's energy watchdog said on Wednesday.

Bumi open to strategic partnership in unit Herald Resources

Fri, 03 Jul 2009 07:00:00 PST

PT Bumi Resources, Indonesia's biggest coal producer, said it's open to a strategic partnership in its Australian unit Herald Resources Ltd

Petrolimex cuts third-quarter fuel demand

Fri, 03 Jul 2009 07:00:00 PST

Vietnam National Petroleum Corp., or Petrolimex, is seeking as much as 456,000 metric tons of oil products for delivery in July to September, a 9.6 percent drop from the previous quarter.

PVD signs contract to supply oil rig

Thu, 02 Jul 2009 12:33:27 PST

PetroVietnam Drilling and Well Services Joint Stock Co (coded PVD) has revealed that the company has signed cooperation contract of supplying the PV Drilling 2 oil rig for 2009 drilling plan of Bach Dang Oil Drilling Management Co.

Floating LNG system eyed for Timor Sea find

Thu, 02 Jul 2009 07:00:00 PST

Flex LNG of Norway has entered an option agreement to acquire control of Jersey-based Minza Oil & Gas, which holds a 100 percent interest in permit JPDA 06-101A in the Joint Petroleum Development Area between East Timor and Australia.

ExxonMobil may sell 20pct stakes in 2 Indonesian blocks-official

Thu, 02 Jul 2009 07:00:00 PST

Exxon Mobil Corp. (XOM) is in talks with Malaysia's Petronas Carigali Sdn. Bhd. on selling it 20 percent stakes in two offshore blocks in Indonesia, a government official said Wednesday.

Pertamina eyes stakes in blocks when foreign contracts expire

Thu, 02 Jul 2009 07:00:00 PST

Indonesia's state oil firm Pertamina wants to take stakes in two key gas projects where the foreign partners are in talks with Indonesia's government to extend existing contracts, a Pertamina official said on Tuesday.

Singapore takes over LNG project-minister

Thu, 02 Jul 2009 07:00:00 PST

The Singapore government will take over development of its first $1 billion liquefied natural gas terminal from a consortium to avoid more delays due to the credit crunch and deferred its completion by a year to 2013.

Indonesia's Medco eyes food crop, biofuel projects in Papua

Thu, 02 Jul 2009 07:00:00 PST

PT Medco Energy International Tbk, a leading Indonesian oil and gas firm, said on Tuesday it plans to develop vast plantations for food crops and biofuel feedstocks in Papua to meet higher demand in future.

China develops ambitious oil acquisition strategy

Thu, 02 Jul 2009 07:00:00 PST

China's government-backed oil companies are jostling with each other to make landmark overseas acquisitions, seizing on the economic crisis -- and accompanying low asset prices -- to grow.

Indonesia's Bakrie to lift Bumi, Bakrieland stakes

Thu, 02 Jul 2009 07:00:00 PST

Indonesia's PT Bakrie & Brothers Tbk said on Tuesday it plans to raise its stake in coal miner PT Bumi Resources Tbk to about 27 percent from 20 percent currently.

Marubeni interested in renewable energy projects in Philippines

Thu, 02 Jul 2009 07:00:00 PST

Marubeni Corp. of Japan has expressed interest in pursuing new power projects in the Philippines, including renewable energy, in the next two years, a company official said.

Total to supply gas for Indonesia power plant

Thu, 02 Jul 2009 07:00:00 PST

A unit of France's Total (TOTF.PA) has signed a deal to supply an Indonesian power plant belonging to a district company in East Kalimantan province, an official at the regional company said on Wednesday.

Singapore firm wins $42.4m Vietnam oil gear deal

Thu, 02 Jul 2009 07:00:00 PST

Singapore-based Global Process Systems Pte. has signed a $ 42.4 million contract with Vietnamese-Russian oil joint venture Vietsovpetro to supply a gas-compressing module to the joint venture, Vietnam's Ministry of Natural Resources and Environment said Tuesday.

Petroleum price hiked by 700 dong starting from 01 July

Wed, 01 Jul 2009 12:10:02 PST

Price Management Department, under Ministry of Finance and Ministry of Industry and Trade has issued Document No 142 to approve the suggestion of key petroleum traders about increasing the petroleum price.

Dak Lak orders to cease the operation of seven mineral processors

Wed, 01 Jul 2009 09:02:16 PST

The local functional authorities after checking have ordered seven illegal natural resource exploitation and processing workshops in Dak Lak province to halt their operation.

Mindanao mining 'dummies' unmasked with new research tools

Wed, 01 Jul 2009 07:00:00 PST

Large-scale mining's "dummy corporations" operating in Mindanao beware: Anti-mining advocates say they now know how to trace your mother companies.

Pan Orient Energy announces commercial hydrocarbons from NSE-I1 well

Wed, 01 Jul 2009 07:00:00 PST

Pan Orient Energy is pleased to announce that testing of the NSE-I1 well has confirmed the discovery of commercial hydrocarbons in a previously untested volcanic reservoir approximately 20 meters in thickness at 637 meters true vertical depth (TVD).

Kairiki Energy farm out update for Philippine oil and gas field SC 54

Wed, 01 Jul 2009 07:00:00 PST

Kairiki Energy Limited (ASX:KIK)(PINK:KAIRF) has been advised by Focus Oil and Gas Pte Ltd that as it is unable to meet the required condition precedent of concluding its investor contracts to fund their obligations under the Farm-out Agreement dated 30 April 2009, the agreement will lapse as of today.

Pertamina eyes stakes in blocks when foreign contracts expire

Wed, 01 Jul 2009 07:00:00 PST

Australian firm applies for new Philippine exploration

Wed, 01 Jul 2009 07:00:00 PST

An Australian mining company, whose present exploration project in a remote village here has been met with opposition by environmentalist groups, is eyeing another exploration area.

Foreign- mining firms may be required to sell 20pct to domestic Indonesia firms

Wed, 01 Jul 2009 07:00:00 PST

The Indonesian government mulls to require foreign-controlled mining firms to sell at least 20 percent of their shares to the central government, regional government, state enterprises or domestic private companies, a senior government official said here on Monday

CNOOC, PetroChina eyes stake in InterOil's gas project -report

Wed, 01 Jul 2009 07:00:00 PST

China National Offshore Oil Corp.(0883.HK) and PetroChina (PTR.N) are planning bids for a stake in Canadian oil firm InterOil Corp's natural gas project that could be worth up to $500 million, a newspaper reported on Monday.

PanAust says resumes operations at Laos mine

Wed, 01 Jul 2009 07:00:00 PST

Australian-listed miner PanAust Ltd has resumed normal operations at its copper-gold mine in Laos, the firm said on Tuesday.

Sagittarius Mines urged to be transparent in its dealings

Wed, 01 Jul 2009 07:00:00 PST

The Catholic Church on Monday urged foreign-backed miner Sagittarius Mines, Inc. to be transparent in its community dealings, especially now that the firm has announced commitments for a feasibility study.

Petra Energy gets RM200m credit facility

Wed, 01 Jul 2009 07:00:00 PST

PETRA Energy Bhd, an integrated oil and gas brown field services provider, has received a RM200 million credit facility to finance its working capital.

OZ Minerals closes $261m Martabe sale

Wed, 01 Jul 2009 07:00:00 PST

Miner OZ Minerals says it will focus on expanding its Prominent Hill mine, after announcing it had completed the sale of its Martabe gold and silver project in Indonesia.

Malaysia denies enviro damage due to gold mining

Wed, 01 Jul 2009 07:00:00 PST

Malaysia has rejected the allegation that gold mining will cause health hazards and environmental pollution in the country.

Crude oil export gains 8.35m tonnes in Jan-Jun

Tue, 30 Jun 2009 10:14:48 PST

PetroVietnam reported that its crude oil production in Jan-June grew by 20 percent to 8.65 million tonnes of crude oil and its export was up 18 percent year-on-year to 8.35 million tonnes.

Vinacomin signs Laos mining deal

Tue, 30 Jun 2009 07:00:00 PST

Vietnamese mining giant Vinacomin will mine coal in a 142sq.km area of Vieng Phouka District in Laos's Luang Namtha Province, under a contract signed by Vinacomin and the Lao government on Thursday.

Dung Quat Refinery kicks off most important unit

Tue, 30 Jun 2009 07:00:00 PST

Dung Quat Oil Refinery has started commissioning its residue fluid continuous cracking (RFCC) workshop, the most important component to produce finished products of the Quang Ngai Province-based refinery.

'Kelantan has no petroleum royalty'

Tue, 30 Jun 2009 07:00:00 PST

Petroleum royalty is not an issue for Kelantan as the two petroleum exploration sites on the maritime border with Thailand and Vietnam are beyond the state's maritime boundary.