AsianOil - Asia Oil & Gas

China teapots turn to Iranian crude as Venezuelan supplies dry up

China’s independent refiners are importing more Iranian crude to make up for a drop in Venezuelan supplies.

Conrad, Empryrean structure Duyung interests in Indonesia

Conrad Asia Energy and its subsidiary West Natuna Exploration have signed a binding term sheet with Empyrean Energy to settle historical cash call arrears linked to the Duyung production sharing contract (PSC) offshore Indonesia.

Petronas targets stable output near 2mn boepd

Petronas said it will ramp up exploration and production activity over the next three years to underpin Malaysia’s domestic energy security.

Beach, Santos land new Cooper Basin acreage

Beach subsidiary Drillsearch Energy and Santos were named preferred bidders for three large exploration blocks in Queensland’s Cooper Basin.

LNG buyers rethink portfolios as volatility becomes structural

LNG buyers are centralising procurement, expanding trading capability and rebalancing portfolios as price swings, geopolitics and supply growth reshape purchasing strategies, executives said at LNG2026.

LNG alliances move from contracts to co-creation

Partnerships across the LNG industry are becoming deeper, longer-term and more strategic as companies seek to share risk, secure financing and navigate geopolitical volatility, executives said at LNG2026.

Singapore charts pragmatic course towards a multi-fuel bunkering future

Just last year, alternative fuel bunkering at the Port of Singapore reached record levels. This was driven primarily by a sharp rise in LNG deliveries. In 2026, however, methanol is set to gain greater prominence.

India pivots to Venezuelan oil - Trump claims

Several times in recent months Indian officials have said there would be no succumbing to US sanctions on India’s preferred oil suppliers as all decisions would be made based upon India’s energy interests.

COMMENT: Trump’s Indian trade deal unlikely to cut Asia off from Russian oil

US President Donald Trump announced on social media that he was slashing tariffs on India from 50% to 18%, after cutting a new trade agreement that will see New Delhi reduce its imports of Russian crude oil dramatically.

Petronas charts ambitious upstream, LNG and carbon strategy through 2028

At the heart of the plan is increased upstream exploration and production. Under this umbrella, Petronas intends to intensify exploration in both existing and emerging basins.

Wafi Energy to invest $100mn in Pakistan over next three years

Fuel retailer Wafi Energy Pakistan plans to invest up to $100mn in the country over the next two to three years

Indian markets rebound after losses

US slashes tariffs on Indian exports after trade accord

The US agreed to slash tariffs on India from 50% to 18% after reaching a trade agreement on Indian exports and removing additional penalties added last year for importing Russian oil.

Angolan oil company Sonangol orders $245mn LNG carrier from South Korea’s HD Hyundai Samho

Angola’s state-owned oil company, Sonangol, has contracted South Korea’s HD Hyundai Samho (HD Hyundai) to build liquefied natural gas (LNG) vessel with delivery scheduled for June 2028.

Chevron in talks with Libya and Iraq on potential oil projects expansion

US energy major Chevron (NYSE: CVX) is holding discussions with the governments of Iraq and Libya to assess potential opportunities to expand its footprint in the oil sector.

US move to ease curbs may reopen Venezuelan oil supplies to India

A US signal indicating flexibility on Venezuelan oil trade could enable Indian refiners to resume purchases from the Latin American producer, with Reliance Industries expected to benefit the most

Canada eyes India to boost LNG exports

Upstart LNG exporter Canada is targeting India for a rise in sales with Prime Minister Mark Carney expected to visit the energy-hungry country in the coming weeks.

Vietnamese-led consortium secures $2.2bn Cà Ná LNG power project

The project centres on a 1,500-MW power station using combined-cycle gas turbine technology fuelled by imported LNG. It will be supported by a dedicated LNG port and regasification system.

Pakistan seeks Saudi, Chinese backing for $2bn PRL refinery expansion

Pakistan’s government and state-owned Pakistan Refinery Limited (PRL) are holding discussions with Saudi Arabia, China, global commercial banks and international financial institutions to secure funding for a $2bn refinery expansion project