Not Logged In Log In   Sign Up   Points Leaders
9:58 PM

GasBuddy News Article

15
votes
Sinopec, Exxon reach deal for Papua New Guinea gas

The Houston Chronicle -- BEIJING — State-owned Sinopec Corp. said Thursday it has reached a preliminary agreement with Exxon Mobil Corp. to buy 2 million tons of liquefied natural gas annually from a project under development in Papua New Guinea.

The deal comes amid a flurry of agreements by Chinese state-owned energy companies to secure foreign oil and gas supplies for the country's booming economy.


Read the Full Article

Submitted Nov 05, 2009 By: FredVx464
Category: Daily News Article Discussions > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: Sinopec, Exxon reach deal for Papua New Guinea gas Post a Reply Back to Topics
REPLIES (newest first)
Profile Pic
DrivingFool2 Car icon
Champion Author Wisconsin

Posts:2,013
Points:365,130
Joined:Apr 2005
Message Posted: Nov 5, 2009 5:51:40 AM

China is on a march that Japan started in the 1940's.
Profile Pic
Petrock Car icon
Champion Author Lexington

Posts:3,059
Points:1,331,085
Joined:Apr 2005
Message Posted: Nov 5, 2009 5:47:58 AM

So is Exxon Mobil buying LPG for the U.S. market or are they also planning to sell it to China? While we may be using the most energy, China will soon have the most money.
Profile Pic
RLH68 Car icon
Champion Author Orlando

Posts:3,665
Points:717,675
Joined:Jun 2007
Message Posted: Nov 5, 2009 5:32:02 AM

More government involvement.
Profile Pic
Grismer Car icon
Champion Author Kitchener-Waterloo

Posts:2,343
Points:499,520
Joined:Apr 2008
Message Posted: Nov 5, 2009 5:25:49 AM

This agreement between these two corporations speaks volumes.
Profile Pic
skippypa Car icon
Champion Author Hawaii

Posts:2,062
Points:476,215
Joined:Jun 2008
Message Posted: Nov 5, 2009 5:25:47 AM

I thought we had an abundance of natural gas here in the states? Why are we making deals with China and buying foreign natural gas?
Profile Pic
Bleeder Car icon
Champion Author Virginia

Posts:2,580
Points:549,665
Joined:Jan 2008
Message Posted: Nov 5, 2009 5:20:58 AM

They are growing and they are already a massive country.
Profile Pic
stpetebp Car icon
Champion Author Tampa

Posts:1,468
Points:562,845
Joined:Nov 2007
Message Posted: Nov 5, 2009 5:20:49 AM

Money talks
Profile Pic
FASTR1 Car icon
Champion Author Michigan

Posts:3,740
Points:550,770
Joined:May 2007
Message Posted: Nov 5, 2009 5:12:37 AM

wonder how long 2 million tons with last them.
Profile Pic
TIGERPAW46 Car icon
Champion Author Florida

Posts:1,551
Points:286,720
Joined:Mar 2004
Message Posted: Nov 5, 2009 5:07:27 AM

Iraq bragged of their million man army, Under supplied under trained and left to fend for themselves surrendered in masses. But, a million troops are just a drop in the bucket to China. Remember if you killed one every second you couldn't wipe out their population.

[Edited by: TIGERPAW46 at 11/5/2009 5:08:31 AM EST]
Profile Pic
hybridaholic Car icon
Champion Author Wisconsin

Posts:1,873
Points:309,680
Joined:Dec 2008
Message Posted: Nov 5, 2009 4:54:37 AM

China, the Warren Buffett of countries!
Profile Pic
spiderjay Car icon
Champion Author Little Rock

Posts:1,523
Points:389,535
Joined:Oct 2005
Message Posted: Nov 5, 2009 4:44:34 AM

new gas users welcome welcome make sure they get a b c grog mug like marathon gave out with each tank full
Profile Pic
wegman Car icon
Champion Author Twin Cities

Posts:1,504
Points:848,475
Joined:Jun 2001
Message Posted: Nov 5, 2009 4:42:24 AM

The Red Chinese mandarins in Peking are working to get some of their own oil. And they probably want to steal Exxon's technology as well.

Papua New Guinea, like much of the Third World, has a government most of the West holds its nose when dealing with. The Commies have no such scruples (considering what they do to their own people their only complaint is the inefficiency of the repression).

But, we have a deep water navy and the Red Chinese do not so if push came to shove, it isn't a secure supply for the totalitarian Chinese.
Profile Pic
HawaiianGuy Car icon
Champion Author Idaho

Posts:3,171
Points:1,830,105
Joined:May 2003
Message Posted: Nov 5, 2009 4:42:13 AM

We owe China so much that we'll never get out from under it. We can thank the Messiah for that. Happy with your "change"?
Profile Pic
rowing Car icon
Sophomore Author Macon

Posts:169
Points:41,100
Joined:Sep 2009
Message Posted: Nov 5, 2009 4:24:54 AM

China is getting a hold
Profile Pic
BigDogOH Car icon
Champion Author Cincinnati

Posts:2,208
Points:566,970
Joined:Mar 2008
Message Posted: Nov 5, 2009 4:22:11 AM

China, The new world Super power
Profile Pic
jmg144 Car icon
Champion Author Maryland

Posts:6,394
Points:1,757,280
Joined:Jul 2004
Message Posted: Nov 5, 2009 4:20:20 AM

Continued China's growth will cause US gas prices to remain high
Profile Pic
granitestater Car icon
Champion Author New Hampshire

Posts:2,317
Points:352,390
Joined:Oct 2008
Message Posted: Nov 5, 2009 4:20:20 AM

China sez: Recession? What recession?? ...It doesn't matter how much we conserve. China will suck up all the gas we don't buy. And the price will stay high.

[Edited by: granitestater at 11/5/2009 4:22:03 AM EST]
Profile Pic
fratt Car icon
Champion Author Grand Rapids

Posts:3,491
Points:1,384,200
Joined:Jul 2005
Message Posted: Nov 5, 2009 4:09:39 AM

Follow the money!
Profile Pic
NotTom Car icon
Champion Author New Hampshire

Posts:1,348
Points:534,880
Joined:Aug 2005
Message Posted: Nov 5, 2009 4:07:34 AM

China is providing cheap labor with no environmental regulations. This is not a good trend.
Profile Pic
camel1 Car icon
Champion Author Minnesota

Posts:2,515
Points:1,059,470
Joined:Jul 2006
Message Posted: Nov 5, 2009 4:00:27 AM

Another American supplying China
Profile Pic
lpj Car icon
Champion Author Macon

Posts:5,834
Points:1,240,030
Joined:Apr 2006
Message Posted: Nov 5, 2009 3:51:35 AM

china will have everything soon , they buying all our debt up , gas oil everything they can get their hands on !!!
Profile Pic
twobroke61 Car icon
Champion Author Michigan

Posts:1,965
Points:337,480
Joined:Sep 2008
Message Posted: Nov 5, 2009 3:42:49 AM

be ready China is slowly buying into this country and will soon be the leader they just bought out a rubber co and own quite a few others also in this country
Profile Pic
Tundralimited2009 Car icon
All-Star Author Dallas

Posts:798
Points:232,955
Joined:Feb 2009
Message Posted: Nov 5, 2009 3:36:46 AM

You just now noticed China...........
Profile Pic
ED6 Car icon
Champion Author Riverside

Posts:3,732
Points:729,110
Joined:Jul 2007
Message Posted: Nov 5, 2009 3:34:14 AM

China is flexing their financial muscle all over the world.
Profile Pic
findcheap Car icon
Champion Author Los Angeles

Posts:3,231
Points:748,995
Joined:Apr 2007
Message Posted: Nov 5, 2009 3:24:13 AM

oil cos r truly international
Profile Pic
Edtx2009 Car icon
Veteran Author Houston

Posts:458
Points:113,020
Joined:Jun 2009
Message Posted: Nov 5, 2009 3:04:10 AM

And how does this impact Gas prices in the U.S.?
Profile Pic
AuburnTim Car icon
Champion Author Indiana

Posts:2,374
Points:585,845
Joined:May 2005
Message Posted: Nov 5, 2009 2:52:17 AM

ok
Profile Pic
carlsonguitars Car icon
Champion Author Portland

Posts:3,054
Points:483,600
Joined:Jan 2008
Message Posted: Nov 5, 2009 2:50:04 AM

great.... exploiting yet another 3rd world country... I wonder if they will store waste in bottomless pits that will end up killing people and animals like Chevron did.... UGH!!!!
Profile Pic
comprof Car icon
Veteran Author Houston

Posts:310
Points:104,350
Joined:Jul 2009
Message Posted: Nov 5, 2009 2:42:59 AM

kyrunner & GMVAN: I agree with both of you.
Profile Pic
kyrunner Car icon
Champion Author Lexington

Posts:2,323
Points:438,075
Joined:Aug 2008
Message Posted: Nov 5, 2009 2:40:42 AM

Good for EXXON.
Profile Pic
GMVAN Car icon
Veteran Author Calgary

Posts:384
Points:142,230
Joined:Apr 2009
Message Posted: Nov 5, 2009 2:38:12 AM

Exxon will make money out of that deal.
Profile Pic
LoneGuy Car icon
Champion Author Lansing

Posts:2,249
Points:1,086,085
Joined:Aug 2005
Message Posted: Nov 5, 2009 2:37:55 AM

So where is our country while this is going on? We are letting others secure their future while we fiddle with a health care bill that will likely cause rationing and bankrupt the country and also carbon cap and trade legislation that will hand our competion a copetitive advantage while the globe is cooling. Welcome to third world status.
Profile Pic
dwgt.net Car icon
Champion Author Nevada

Posts:10,156
Points:1,773,385
Joined:Sep 2004
Message Posted: Nov 5, 2009 2:35:35 AM

Bump, not really related to this site.
Profile Pic
sosgas Car icon
Veteran Author Portland

Posts:327
Points:170,240
Joined:Feb 2009
Message Posted: Nov 5, 2009 2:33:58 AM

Maybe papua NEw GUINEA HAVE NEW BILLIONAiRES ?
Profile Pic
speedys Car icon
All-Star Author Utah

Posts:650
Points:1,297,205
Joined:Nov 2005
Message Posted: Nov 5, 2009 2:24:50 AM

Money talks.
Profile Pic
craigsf38 Car icon
Rookie Author Rochester

Posts:52
Points:277,945
Joined:Jun 2008
Message Posted: Nov 5, 2009 2:10:57 AM

The Chinese will do what ever they feel they have to control their economic future long term. if that means getting control over energy then that is what they will do
Profile Pic
tom11743 Car icon
Champion Author North Carolina

Posts:1,303
Points:327,630
Joined:May 2005
Message Posted: Nov 5, 2009 2:09:42 AM

The are energy manipulators.
Profile Pic
nurdco Car icon
Champion Author Colorado Springs

Posts:2,320
Points:429,175
Joined:Apr 2008
Message Posted: Nov 5, 2009 2:05:32 AM

Chinese will secure ANY Fuels that may be available...
Profile Pic
jadeusa Car icon
Champion Author Dallas

Posts:2,805
Points:589,410
Joined:Sep 2005
Message Posted: Nov 5, 2009 2:05:02 AM

We need an energy plan now. Should include alternatives in the future, but have incentives to drill here and drill now.
Profile Pic
Number43 Car icon
Champion Author Lexington

Posts:2,030
Points:395,435
Joined:Oct 2008
Message Posted: Nov 5, 2009 2:04:13 AM

China knows there is plenty of oil and gas in the world, and they shoot tree huggers who get in the way.
Profile Pic
snappyray09 Car icon
All-Star Author Arkansas

Posts:540
Points:74,480
Joined:Sep 2009
Message Posted: Nov 5, 2009 1:54:50 AM

I say we need to go for it..
Profile Pic
jcurley Car icon
Champion Author California

Posts:2,410
Points:572,795
Joined:Dec 2007
Message Posted: Nov 5, 2009 1:52:39 AM

Maybe we need state-owned energy companies here. That way, we can drill here, drill now, drill wherever we want.

What do you think?
Profile Pic
RENEGADEGAS Car icon
Champion Author Missouri

Posts:3,503
Points:348,455
Joined:Jul 2008
Message Posted: Nov 5, 2009 1:49:56 AM

OK
Profile Pic
CoffeeTrader Car icon
Champion Author Victoria

Posts:2,332
Points:427,780
Joined:Sep 2008
Message Posted: Nov 5, 2009 1:48:58 AM

Obviously money talks.
Profile Pic
pbc2001 Car icon
Champion Author Dallas

Posts:1,521
Points:258,580
Joined:Feb 2009
Message Posted: Nov 5, 2009 1:36:03 AM

We shall see how it will actually work out.
Profile Pic
UncleCurt Car icon
Champion Author Winnipeg

Posts:2,100
Points:272,910
Joined:Feb 2009
Message Posted: Nov 5, 2009 1:33:13 AM

Talk about two empires coming together for the ooze.
Profile Pic
Saturn93 Car icon
Champion Author Salt Lake City

Posts:2,842
Points:731,465
Joined:Oct 2006
Message Posted: Nov 5, 2009 1:23:30 AM

Why not develop our own reserves?
Profile Pic
tomok Car icon
Champion Author Portland

Posts:14,871
Points:1,080,185
Joined:Aug 2006
Message Posted: Nov 5, 2009 1:23:01 AM

China has all that US manufacturing money to buy energy, Exxon will sell to anyone with money. China will need that natural gas (LNG) for their vehicles.
Profile Pic
spike1zz Car icon
Champion Author Indiana

Posts:2,002
Points:358,670
Joined:Oct 2008
Message Posted: Nov 5, 2009 1:20:52 AM

Yawn
Profile Pic
grouch311 Car icon
Champion Author Illinois

Posts:2,623
Points:400,340
Joined:Jun 2007
Message Posted: Nov 5, 2009 1:20:01 AM

good for China, they've got a supply deal
Post a replyBack to Topics