Term used to define when a party farms into a project as per the terms defined in an agreement, and normally entails the farm-in party paying his pro-rata past costs as well as his future expenses. Alternatively, under a ground floor arrangement the farm-in party may only have to pay his pro-rata future expenses and …
A 360 MW IEC power station that worked on diesel oil and was linked up to natural gas on the 23rd February 2009. The station started generating with natural gas as of June 2009 at which time it started the commissioning period. By November 2009, the site 3 CCGT generation units each of 330 MW, …
Tankers with a deadweight of 38,000 to 49,999 tons and from 27,000 to 37,999 tons respectively. Along with other smaller tankers, these can carry clean or dirty cargoes depending on the vessel or trade route
This is a clause in a gas sales contract that allows either buyer or seller to require the other party to re-negotiate the price of the oil or the gas, if they can demonstrate that they are suffering hardship as a result of the existing price level.
The amount of energy or heat that is generated when a hydrocarbon is burned (chemically combined with oxygen). It is usually expressed in terms of Btus per unit of measurement
The buying and selling of futures contracts so as to protect energy traders from unexpected or adverse price fluctuations. Sometimes investors view oil and thus invest in it as a hedge against inflation and a falling dollar
Companies may reach agreements with financial institutions to hedge a portion of their oil and gas production in order to provide them with downside protection should the price of oil and/or gas go below their credit facility comfort. Some companies manage the risk of price fluctuations by hedging. When an oil producer hedges the price …
Avenue Group won a license to carry out exploration activity in the Haletz Kochav field which spans 230 thousand dunam from Tel Aviv in the North to the Gaza Strip in the South, which is the only significant onshore oil field in Israel. The 60,000 acre licenses contains Kochav, Barur and Haletz oil fields from …
Hoarding of capacity in LNG terminals by speculators is a known phenomena as well as the tendency by major energy companies to book for themselves capacity in a large number of regasification terminals in order to be able to direct their LNG shipments towards markets where spot prices are higher at any particular time. This …
A company that confines its activities to owning stock in and supervising management of other companies. Holding companies are relatively common in newly deregulated markets of all types. New regulations in the energy industry, designed in part to stimulate competition for energy services, have forced many vertically integrated utilities to restructure themselves or sell off …
