Itochu Company News

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$6B Buffett Japan Wager Could Signal More Commodity Deals
Monday, August 31, 2020Japan's trading houses supply the resource-poor country with everything from natural gas to noodles.

Gas Glut Upends Global Trade Flows As Buyers Find New Leverage
Tuesday, August 16, 2016The market for liquefied natural gas is about to attract more players and more trading as new supply from the U.S. and Australia strengthens buyers' bargaining power.

CITIC Resources, ITOCHU Sign MOU to Collaborate on E&P Projects
Wednesday, June 22, 2016CITIC Resources and Japan's ITOCHU Corp. sign a memorandum of understanding to collaborate on upstream oil and gas exploration and production projects.

North West Shelf LNG Tender Goes to BG, Itochu and Statoil
Thursday, June 19, 2014North West Shelf liquefied natural gas export plant awards cargo to BG Group, Itochu and Statoil as part of a tender.

Inpex Buys Stakes in Zapadno-Yaraktinsky, Bolshetirsky Blocks in Irkutsk
Wednesday, September 25, 2013Inpex and Itochu acquire stakes in Zapadno-Yaraktinsky and Bolshetirsky blocks in Irkutsk Oblast, Russia through purchases of shares in Japan South Sakha Oil Co.

Japan Far East Gas, Gazprom Ink MOU for Vladistok LNG Project
Monday, June 24, 2013Inpex, together with partners in the Japan Far East Gas Co., Ltd., inks a Memorandum of Understanding with Gazprom for the Vladivostok LNG Project.

Itochu Joins KKR in $7B Samson Deal
Tuesday, November 22, 2011Itochu is joining private equity company KKR in its $7B-plus bid for Samson Investment Co., Reuters reported Monday on its website.

StatoilHydro Marks 15 Years Since Signing 'Contract of the Century'
Wednesday, September 16, 2009September 20 will mark exactly 15 years since the signing of what is known in Azerbaijan as the "Contract of the century," namely the production sharing agreement for the giant ACG oil field, where StatoilHydro is one of the partners.

Venezuela's Projects with Japan Cos May Lead to $33.5B Investment
Tuesday, April 07, 2009Venezuelan President Hugo Chavez said Tuesday the country's possible energy projects with Japanese companies may lead to $33.5 billion in investment.

Japan, Venezuela Enter Pact on Energy Projects
Monday, April 06, 2009Venezuela signed agreements with six Japanese companies concerning feasibility studies to develop Orinoco Tar and an offshore natural gas block.

KBR Scores Major FEED Contract for Chirag Oil Project in Caspian Sea
Monday, March 23, 2009KBR will provide front-end engineering and design services for BP's Chirag oil project offshore Azerbaijan.

BP Azerbaijan Plans to Spend $611 Million in Operations in 2008
Wednesday, April 30, 2008In 2008 we expect to spend $611 million in operating expenditure and $1,926 million in capital expenditure on ACG activities.

BP Azerbaijan Maintains Big Drilling, Field Development for 2008
Wednesday, April 30, 2008BP Azerbaijan reported that early in 2008, Chirag finished drilling a series of planned sidetrack oil producers (A10z, A03z, and A05z) to replace wells that had reached the end of their productive life.

Callon Closes Sale Of 50% Working Interest In Entrada Field
Tuesday, April 08, 2008Callon Petroleum Company has completed the sale of a 50% working interest in the Entrada Field, located in the Deepwater Region of the Gulf of Mexico, to CIECO Energy.

BMG JV Completes Itochu Farm-in
Friday, October 05, 2007The Basker Manta Gummy Joint Venture has completed a farm-in transaction with ITOCHU, in which ITOCHU has acquired a 20% interest in BMG JV.

Anzon Sells 10% Stake in BMJ Project to Itochu
Friday, August 10, 2007Anzon Australia Limited will receive A$123 million having concluded negotiations with ITOCHU Corporation of Japan for the sale of 10% of the Basker Manta Gummy (BMG) Joint Venture.

Statoil Seals Steel Deals for Drilling, Developments
Friday, May 18, 2007New framework agreements worth an estimated NOK 13.2 billion will secure Statoil's need for casings, tubing and pipeline steel for the next five years.

Tullow Oil Brings New Partner to Kudu Project
Wednesday, April 04, 2007Tullow Oil has reached agreement to sell Itochu Corporation (Itochu) a 20% interest in its Republic of Namibia Production Licence No. 001, which contains the Kudu gas field.

Petrel Resources and Itochu to Cooperate on Iraq Exploration
Wednesday, September 13, 2006Petrel Resources has signed a strategic partnership and cooperation agreement with Itochu Corporation. The strategic partnership will cover future exploration and development activities in the Iraqi oil and gas industry.

Eurasia Issues Update on Drilling, Development Plan in Azerbaijan
Thursday, August 17, 2006Eurasia Energy Limited (the "Company") on Thursday reported on the status of its ongoing drilling activity and a progress report on the development plan for its oil and gas block in the Republic of Azerbaijan.

BP Begins Production at West Azeri Field in the Caspian Sea
Thursday, January 05, 2006BP has begun oil production from the West Azeri platform - Azeri Project Phase 2, as part of the Azeri-Chirag-Gunashli (ACG) field development.

Unocal Okays Phase 3 Development of ACG Field in Caspian Sea
Monday, September 20, 2004Unocal joined with other company representatives in signing a resolution sanctioning the Phase 3 development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) field in the Azerbaijan sector of the Caspian Sea.

Norwest Closes Sale of Stake in Cliff Head Project
Wednesday, May 19, 2004Norwest has closed on the sale of The Company's 5% interest in the Cliff Head offshore oil project to CIECO Exploration and Production.

Norwest Energy Sells Stake in Cliff Head Project
Friday, February 20, 2004Norwest Energy has completed the transfer of its 5% stake in the Cliff Head Project to Itochu Oil Exploration Company.

Norwest Energy to Sell Interest in Cliff Head Field
Tuesday, January 06, 2004Norwest Energy has reached agreement in principle to dispose of its 5% interest in the Cliff Head offshore oil project to ITOCHU Oil Exploration Co. Ltd for $8.1 million.

Japanese Consortium to Exit Caspian Sea Project
Friday, June 20, 2003The Japan Azerbaijan Operating Co has revealed that it has decided to exit its project in the Caspian Sea after failing to find commercial quantities of oil or gas reserves.