Cnooc Reaches Deal With BG Group, Con Ed’s Progress: Energy Business Report

Cnooc Limited (NYSE:CEO) reaches a Heads of Agreement with the United Kingdom’s BG Group to purchasee certain interests in the Queensland Curtis LNG, project in Australia for $1.93 billion. Additionally, the Chinese firm will acquire 5 million tons of liquid natural gas per year from BG for 20 years beginning in 2015, and the firms will jointly invest in the construction of two LNG ships in China.

Consolidated Edison (NYSE:ED) has restored electricity to more than 160,000 of the 930,000 customers blacked out by Sandy, which left some 764,00 still without power earlier Wednesday. The monster storm knocked out power to about 30 percent of ED’s 3 million-plus customers in New York City and Westchester County.

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Uranium Resources (NASDAQ:URRE) reports that studies conclude that existing Fort Wingate, Gallup, Rehoboth and Navajo Nation water wells will not be impacted by Churchrock Section 8 in-situ recovery activities, and there should be no discernible risk of adverse effects on groundwater tat is allocated for the Navajo-Gallup Water Supply Project.

Eni (NYSE:E) Chief Executive Paolo Scaroni reports being currently less enthusiastic regarding the company’s operations in Iraq, than when it first entered that country following the end of Saddam Hussein’s regime, but he does rule out the exiting of Iraq so as to move to Kurdistan. Eni has spent between $4 billion and $5 billion thus far in its Iraqi activities out of a planned $18 billion.

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