Modec Venture 1 floating production, storage and offloading vessel has been
delivered to a scrap buyer in Karimun, according to a source close to the
development.
Canada’s Paramount Energy Trust saw 2009 earnings fall by more than 50% year
on year on lower gas prices and lower production due to production shut ins
and the sale of “non-core” assets.
Oil reversed earlier losses to gain a few cents toward $82 after China said
imports jumped in February, boosting evidence that emerging Asian economies
will lead global demand back into growth this year.
Papua New Guinea’s government is under fire after reportedly agreeing to
exempt investors in the giant PNG LNG liquefied natural gas project from
paying tax.
