From a regional perspective, the Indonesia-Singapore pipeline that was opened with much fanfare has been declared as a stepping stone to a larger energy picture, the long-talked about Trans-Asean gas pipeline grid.
Australian LNG producers were further buoyed when news filtered back from Australian observers in China, with the mayor of China's biggest city flagging further LNG imports, saying Shanghai needed cleaner energy to help combat pollution.
After missing out on a contracts to supply gas to Taiwan and China's Guangdong province Indonesia breathed a sigh of relief when it won a tender to supply 1.5 million tons a year of liquefied natural gas (LNG) from the Tangguh field to South Korea's SK Group and Posco Steel Mill.
In a major boost for the controversial Gorgon project an affiliate of ChevronTexaco has signed a MOU with the JV for the supply of 2 million tones of LNG into the American west coast over a 20-year period, beginning in 2008.
Novus Petroleum has helped secure its financial future following the syndication of an $US86 million Revolving Credit Facility, with an option to increase it to US$100 million.
The future of ExxonMobil, the largest public company in the world, is also fairly secure after recording a 58% profit increase, on a US$4.17 billion net income figure for the second quarter.
McConnell Dowell has moved out of the public's eye after Aveng's bid to acquire the company's outstanding shares was finalised and trading in the stock was suspended on the ASX and NZX.
Origin Energy has taken a large interest in geothermal hopeful Geodynamics, snaffling almost 25% of the hot rock driller after taking a placement of 10 million fully paid ordinary shares at an issue price of $0.50 per share for $5 million.
The Organization of Petroleum Export Countries (OPEC) agreed to leave the crude oil production ceiling for its member states unchanged at 25.4 million bopd, before signaling a review of the situation in September.
Beach Petroleum's aggressive Cooper Basin drilling campaigns have paid off with a 17% increase in total oil and gas reserves in the last quarter, while the Harriet JV had similar success at the Ginger-1 well with a 21m gross gas column and has acquired a second drill rig to step up the pace of the program.
Junior E&P company Stuart Petroleum has justified the faith shown by its shareholders during protracted native title disputes in its formative days by rocketing up the South Australian production ladder within three years of listing. The company now only sits behind Santos for South Australian production.
Royal Dutch Shell has virtually pulled the plug on New Zealand exploration, with news that it is slashing exploration funding for at least the next year. The company has not released an exploration budget at this time.
And rubbing salt into the wound Horizon Oil has sharpened its focus on its two offshore development projects in China and New Zealand, discarding its onshore Kiwi portfolio in the process.
Finally Woodside has set the cat among the pigeons after claiming the Digger of the Year award at the annual Diggers & Dealers mining forum in Kalgoorlie, the bastion of Australian hard rock miners.
