Worldwide

One of Mirant Corp.’s largest shareholders and a creditor in its three-year Chapter 11 bankruptcy process on Thursday asked the company to drop its attempt at a hostile takeover of NRG Energy and instead put the company up for sale. Connecticut-based Pirate Capital LLC, the portfolio manager of the investment fund, wrote to Mirant’s CEO and directors, saying investors are “concerned” about the offer to buy NRG.

Natural gas markets worldwide are showing increasing convergence, particularly among the Organization of Economic Cooperation & Development (OECD) countries, and that trend, spurred by increased liquefied natural gas (LNG) traffic, is expected to continue, according to Raymond James’ Energy Stat of the Week.

Houston-based producers ConocoPhillips and Marathon Oil Corp. reported Thursday 4Q2005 oil and natural gas output worldwide will be on the high end of earlier guidance, but they also expect to see higher expenses partly related to hurricane repairs in the Gulf of Mexico.

Cheniere Energy brought in two heavy hitters during the last week to help target liquefied natural gas (LNG) suppliers worldwide for about 5.9 Bcf/d of LNG sendout capacity that Cheniere plans to manage at its three 100%-owned import terminals along the Gulf Coast.

The liquefied natural gas (LNG) business is poised for a period of strong growth through the rest of this decade, with capital expenditures worldwide totaling nearly $67 billion, according to a report released Thursday by energy analysts Douglas-Westwood.

The liquefied natural gas (LNG) business is poised for a period of strong growth through the rest of this decade, with capital expenditures worldwide totaling nearly $67 billion, according to a report released Thursday by energy analysts Douglas-Westwood.

One year after Royal Dutch/Shell Group began downgrading its worldwide oil and natural gas reserves, the company said last week it has begun a recruitment effort to hire more than 1,000 petroleum engineers to bolster the exploration and production (E&P) unit.

One year after Royal Dutch/Shell Group began downgrading its worldwide oil and natural gas reserves, the company said Tuesday it has begun a recruitment effort to hire more than 1,000 petroleum engineers to bolster the exploration and production (E&P) unit.

British Petroleum said Wednesday that it expects its fourth quarter worldwide production to be up about 4% from 4Q2003 to 4.09 million boe/d mainly because of increases in Russia. However, higher taxes in Russia and costs associated with damage from Hurricane Ivan in the Gulf off Mexico and a blowout at an Egyptian offshore platform will take a bite out of its earnings.