FACTBOX-Global energy investment hit by financial crisis

 Jan 5 (Reuters) - The deepening of the global financial
crisis and a deep drop in energy prices have forced companies to
scale back spending and delay projects, with expensive ventures
in the Canadian oil sands hardest hit.
 Below is a list of projects that have been delayed or scaled
back in recent months, as well as other related news.
 Jan 5 (Reuters) - North Sea gas pipeline operator Gassco
says the 10 billion crown ($1.81 billion) Skanled gas pipeline
project to Scandinavia, could be delayed from its planned 2012
launch, partly due to worries over investment plans by British
chemicals group Ineos [INEOSP.UL], a key client.
 Dec 22 (Reuters) - TXCO Resources Inc TXCO.O, U.S.based
oil and gas exploration and production company reduced operating
levels in certain south Texas project areas, and temporarily
shut two steam generators and five steam-injection wells.
 Dec 19 (Reuters) - Italian energy group Eni EN.MI delayed
its decision on picking a floating production storage and
offloading (FPSO) unit for the Goliat oil discovery in the
Barents Sea, from its end-2008 deadline.
 Dec 17 (Reuters) - Indonesian state oil firm Pertamina,
state power firm PT Perusahaan Listrik Negara (PLN) and PT
Perusahaan Gas Negara (PGN) delayed the construction of
Indonesia's first LNG receiving terminal.
 Dec 16 (Reuters) - Husky Energy Inc HSE.TO, Canada's No. 2
oil exploration and refining company said it would cut its 2009
capital spending budget by 28 percent.
 Dec 15 - Connacher Oil and Gas Ltd CLL.TO slowed bitumen
production at its Great Divide thermal oil sands project to
5,000 barrels per day from 9,000 bpd and suspended construction
of its second thermal oil sand development, the $345 million
Canadian dollars ($285.6 million) Alger project.
 Dec 8 - Santos Ltd STO.AX, one of the partners in the $850
million Australian dollars ($605.4 million) Reindeer gas project
off Australia's west coast, said it had been deferred
indefinitely after a proposed customer failed to commit to a
sales contract.
 Dec 4 - Norway's StatoilHydro STL.OL scrapped plans for a
C$16 billion upgrader for its Canadian oil sands holdings. 
 The company will go ahead with plans to produce up to
200,000 barrels per day of bitumen, but will sell it on the open
market instead of turning it into more valuable synthetic oil.
 Nov 27 - Irving Oil Ltd slowed construction on its planned
C$7 billion refinery at Saint John, New Brunswick, breaking work
into two C$4 billion phases of 150,000 bpd each and stretching
construction over up to eight years from 2011 instead of four.
 Nov 27 - Royal Dutch Shell RDSa.L withdrew a request for
regulatory approval for its 100,000 bpd Carmon Creek thermal oil
sands projects in Canada.
 Nov 18 - British energy group BP Plc BP.L said it would
close its Australian solar-cell factory by the end of March 2009
to focus on bigger, lower-cost operations offshore. The factory
is BP's smallest solar plant.
 Nov 17 - Petro-Canada PCA.TO deferred construction of an
upgrader for its C$21 billion Fort Hills oil sands project.
 Nov 13 - Harvest Energy Trust HTE_u.TO deferred its C$2
billion expansion of Come By Chance refinery in Newfoundland.
 Nov 6 - Canadian Natural Resources Ltd CNQ.TO slowed
spending on the second phase of its Horizon oil sands project
for 2009 after first phase costs rise to C$9.7 billion, up 42
percent from 2004 estimate.
 Nov 9 - Saudi Aramco and Total SA TOTF.PA delayed a bid
round for a 400,000 bpd refinery at Jubail to February from
 Nov 6 - ConocoPhillips COP.N and Saudi Aramco halted
bidding on the 400,000 bpd joint-venture Yanbu refinery in Saudi
 Nov 5 - Sunoco Inc SUN.N to save $375 million by scrapping
the upgrade of Tulsa, Oklahoma, refinery.
 Nov 4 - British gas and oil producer BG Group BG.L
postponed a decision on whether to proceed with Phase III
development of the Karachaganak field in western Kazakhstan,
which aims to lift oil output to 16 million tonnes a year from
11 million.
 Oct 30 - Royal Dutch Shell delayed its investment decision
on second expansion of Athabasca oil sands project.
 Oct 29 - Thai refiner and petrochemical company IRPC
IRPC.BK reviewed a $1.5 billion investment plan. Has delayed a
refinery expansion and cut run rate by 10,000 bpd.
 Oct 27 - FPL Group FPL.N, the largest wind-power operator
in the United States, said will cut 2009 spending nearly 25
percent to $5.3 billion and new wind-power generation to 1,100
megawatts from 1,500 megawatts.
 Oct 23 - Suncor Energy Inc SU.TO delayed oil sands
upgrader for C$20.6 billion Voyageur expansion by one year to
2013. Expansion boosts production from Suncor's oil sands
operations near Fort McMurray, Alberta, to 550,000 bpd from
 Oct 23 - Nexen Inc NXY.TO and Opti Canada Inc OPC.TO
delayed a second phase of Long Lake oil sands project to 2009.
 (Compiled by Farah Master, Scott Haggett and Michael Szabo;
editing by Peter Blackburn)


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