Erbil, the regional capital of Iraqi Kurdistan, has all the trappings of an oil boomtown. It bristles with construction cranes. Land Cruisers and Range Rovers with tinted windows ply the busy streets. Oil workers and briefcase- bearing foreigners crowd into the Divan Erbil Hotel’s piano bar.
PetroChina Co., the country’s biggest oil and natural gas producer, will seek to pass on to customers the costs from its midstream businesses at Kunlun Energy Co. and liquefied natural gas transportation, according to Sanford C. Bernstein & Co.
Australia, defeated by Qatar in a bid to host the 2022 World Cup soccer tournament, may overtake the Persian Gulf nation in liquefied natural gas production in 10 years, Sanford C. Bernstein & Co. analyst Neil Beveridge said.
China National Petroleum Corp. already spent more money this year on energy assets than any other global producer. Oil and gas fields controlled by Exxon Mobil Corp. and Russia’s OAO Rosneft may be next on the list.
Australian liquefied natural gas projects are poised to benefit from surging demand in Asian markets, making the country the “Qatar of the Pacific” in the next decade, research firm Sanford C. Bernstein said.
Reliance Industries Ltd. , India’s biggest company by market value, may speed up natural gas production after the nation’s top court said the fuel should be sold at the government-approved price, an analyst said.