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GLOBAL LNG-Asian prices continue downward trend as supply floods

Asian spot prices for liquefied natural gas (LNG) fell this week as a supply glut continued to weigh, while demand growth was muted by signs of a mild winter in Northeast Asia. Prices for January delivery to Northeast Asia are estimated to be about $5.70 per million British thermal units (mmBtu), down 20 cents from last week for the same period, said several sources who are market participants. With European gas storage nearly full, cargoes may struggle to find a home, traders said. …read more […]

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UPDATE 2-Papua New Guinea flags talks stall with Exxon on $13 bln gas expansion

Papua New Guinea’s petroleum minister on Friday flagged a standoff in talks with Exxon Mobil Corp tied to a $13 billion gas expansion, saying the U.S. oil giant was unwilling to negotiate on the country’s terms. The state’s negotiating team had set out draft terms for negotiations on developing the P’nyang gas field, which Petroleum Minister Kerenga Kua said were in line with international standards and would ensure a “fair deal” for PNG. “It is disappointing Exxon has refused to even consider these terms and we urge them to reconsider their position,” Kua said in a statement emailed …read more […]

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UPDATE 1-Tesla unveils first-ever electric pickup truck

Tesla Inc on Thursday unveiled its first pickup truck, delivering on a promise by Chief Executive Elon Musk to build an electric version of America’s favourite vehicle and one that threatens the heart of Detroit automakers’ profits. At a launch event in Los Angeles, Tesla Chief Executive Elon Musk said the truck, which looked liked a futuristic armoured vehicle, will have a starting price of $39,900 and a maximum range of 500 plus miles. If we don’t have a pickup truck we can’t solve it. …read more […]

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Tesla unveils first-ever electric pickup truck

At a launch event in Los Angeles, Tesla Chief Executive Elon Musk said the truck, which looked liked a futuristic armoured vehicle, will have a starting price of $39,900 and a maximum range of 500 plus miles. If we don’t have a pickup truck we can’t solve it. The top 3 selling vehicles in America are pickup trucks. …read more […]

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Tesla unveils first-ever electric pickup truck

At a launch event in Los Angeles, Tesla Chief Executive Elon Musk said the truck, which looked liked a futuristic armored vehicle, will have a starting price of $39,900 and a maximum range of 500 plus miles. If we don’t have a pickup truck we can’t solve it. The top 3 selling vehicles in America are pickup trucks. …read more […]

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Papua New Guinea flags talks with Exxon on $13 bln gas expansion hit impasse

Papua New Guinea’s petroleum minister flagged on Friday that talks with Exxon Mobil Corp tied to a $13 billion gas expansion had reached an impasse as the U.S. oil giant was unwilling to negotiate on the country’s terms. The state’s negotiating team had set out draft terms for negotiations on developing the P’nyang gas field, which Petroleum Minister Kerenga Kua said were in line with international standards and would ensure a “fair deal” for PNG. “It is disappointing Exxon has refused to even consider these terms and we urge them to reconsider their position,” Kua said in a …read more […]