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 November.
Nov 6 - ConocoPhillips (COP.N) and Saudi Aramco halted bidding on the 400,000 bpd joint-venture Yanbu refinery in Saudi Arabia.
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 350,000.
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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