SINGAPORE: Noble Group Holdings (Noble Holdings) plans to rebuild its liquefied natural gas (LNG) and core energy businesses and develop rare earths as it seeks new life as a niche, Asia-focused commodity trader, sources aware of the matter said. "We have enough credit lines to expand the LNG business. In our restructuring, we made sure we had ample credit facilities, so we could build the business that we lost," said one senior executive with the company, which took over assets of the under-liquidation Noble Group Ltd. READ: Noble Group completes US$3.5 billion restructuring to emerge as smaller, unlisted firm READ: Singapore authorities block Noble's relisting plans Noble Holdings has now set up a Singapore desk for LNG by hiring a former trader from Australia's Origin Energy, expanding its four-person LNG team in London, industry sources told Reuters. "The company has always had an LNG team but activities were wound down for a while and are now starting back up," one … [Read more...] about Humbled Noble Group seeks to rebuild LNG, energy businesses: Sources
The Hanoitimes - The Ken Bau well is set to be put into operation by 2028. An oil and gas well has been discovered offshore Vietnam with record reserves that help state-run energy group PetroVietnam fulfil its reserves plan set for this year, local media reported. The discovery of Ken Bau-2X, located in Block 114 of the Red River Basin, is estimated to provide 9 trillion cubic feet in place with 400 – 500 million barrels (Mbbl) of associated condensates. Ken Bau well to increase Vietnam’s oil, gas reserve in 2020. Photo: Keri Jackson/Pixabay Eni Vietnam and Essar E&P, two operators of Block 114, each holds 50% share of the exploration contract. In 2020, Ken Bau-2X was drilled 2km apart from Ken Bau-1X, the first well in 95 meters of water depth till a total depth of 3,658 meters below sea level and encountered a pay in excess of 110 meters in several intervals of miocene sandstones interbedded with shale. The result of estimated reserves from Ken … [Read more...] about Vietnam discovers oil & gas well with record reserves
Western media is greeting the Biden administration’s Russian sanctions as “signaling a tougher stance on Russia than under former President Donald Trump.” Vladimir Putin Vladimir Vladimirovich Putin Wray hints at federal response to SolarWinds hack Kremlin: Musk invitation to Putin to chat on Clubhouse 'some kind of misunderstanding' Biden to sanction Russia over Navalny poisoning, jailing MORE likely thinks otherwise. It looks as if the Biden administration has blinked on Putin’s key foreign policy objective — the completion and operation of the Nord Stream 2 pipeline, delivering Russian gas to Europe. The sanctioning of a few Kremlin officials is petty change compared to the decade-long profitable effects of Russian pipeline politics. Indeed, the new U.S. sanctions do freeze foreign assets and impose travel restrictions on a number of Russian officials associated with the attempted poisoning and sham imprisonment of Putin opponent Aleksei Navalny . … [Read more...] about Do Biden’s ‘tough new sanctions’ give Putin Nord Stream 2?
BEIJING: Many keen observers already hold low expectations for US President Donald Trump and Chinese President Xi Jinping’s bilateral meeting , expected sometime soon as they head to Osaka for the G20 Leaders’ Summit. Such low expectations are a reminder and recognition that complicated and long-simmering diplomatic disputes sometimes need politically difficult negotiations over trade-offs and internal consultations within their own internal bureaucracies. Nonetheless, the significance of the G20 remains paramount, at least because leaders of sovereign governments can engage in more direct dialogue with each other on the sidelines of the main event. MEETING FACE-TO-FACE President Xi is seeking to meet with President Trump privately, without the presence of political appointees, so they can have frank and direct discussions. READ: Here’s why the US-China trade war won’t cool down anytime soon, a commentary Coming after the imposition of US tariffs, a trade … [Read more...] about Commentary: No miracles expected but hopes for trade truce remain high as Trump meets Xi at G20