Total SA, Europe’s third-largest oil producer, paid an initial $401 million to InterOil Corp. for a stake in its natural gas discoveries in Papua New Guinea, sidestepping opposition from Oil Search Ltd.
Oil Search Ltd., Papua New Guinea’s largest oil and gas producer, is contesting Total SA’s agreement earlier this week to acquire a stake in InterOil Corp.’s natural gas discoveries in the Pacific nation.
Woodside Petroleum Ltd. , Australia’s second-largest oil and gas producer, had an estimate of liquefied natural gas production at its Pluto venture cut 19 percent by JPMorgan Chase & Co., due to strikes at the project.
Chevron Corp. said it aims to supply China’s largest oil company with liquefied natural gas from its proposed Wheatstone project in Australia, the nation at the center of the U.S. energy producer’s growth plans.
Woodside Petroleum Ltd. , Australia’s second-biggest oil and gas producer, said sales rose 48 percent in the second quarter and it “continues to ramp up” efforts to find gas to expand a liquefied natural gas project.
PetroChina Co., Asia’s biggest oil producer, agreed to pay BHP Billiton Ltd. $1.63 billion for its holding in Woodside Petroleum Ltd.’s proposed Browse liquefied natural gas project in Western Australia.
Japan’s Mitsubishi Corp. and Mitsui & Co. or China may be interested in buying part of Royal Dutch Shell Plc’s remaining 24 percent stake in Australia’s Woodside Petroleum Ltd., according to JPMorgan Chase & Co.
Oil Search Ltd. , a partner in Exxon Mobil Corp.’s $15 billion liquefied natural gas project in Papua New Guinea, expects to undergo “a complete metamorphosis” in the next five years after a review of expansion opportunities.