AsianOil - Asia Oil & Gas
Russia considers first fuel export shipment to Laos
Russia is considering its first shipment of petroleum products to Laos as Moscow seeks to strengthen its foothold in Southeast Asia’s growing energy market
India eyes hike in domestic fuel prices on May 15
India is reportedly considering raising domestic fuel prices before May 15 as state-owned oil marketing companies struggle with mounting losses caused by the surge in global crude oil prices following the escalation of conflict in the Middle East.
Japan takes first Azeri oil cargo since start of US-Iran war
Japan is diversifying crude oil imports and deepening energy cooperation with Saudi Arabia as disruption in the Strait of Hormuz forces the country to reduce its overwhelming reliance on Middle Eastern supplies.
Conrad signs EPCI contract for Indonesia's Mako gas project
Empyrean Energy said on May 8 the Mako gas project offshore Indonesia had taken another step towards development after operator Conrad Asia Energy signed a binding subsea engineering, procurement, construction, and installation contract.
Dolphin Drilling secures UK North Sea, India deals
Offshore rig contractor Dolphin Drilling has signed a contract with Harbour Energy for the semi-submersible drilling rig Paul B. Loyd Jr. in the UK sector of the North Sea, adding around $150mn to its firm backlog.
Australia's Annie field could flow first gas in 2028 after state approvals
Australian gas producer Amplitude Energy hopes to begin production from its newly approved Annie gas project in the offshore Otway Basin as early as 2028, adding fresh domestic supply to Australia’s increasingly tight east coast market.
Uncertainties and risks to Australia's east coast gas reservation scheme
Australia will force east coast LNG exporters to reserve 20% of supply for the domestic market from July 2027 in a major intervention aimed at preventing gas shortages and lowering prices.
Eni reports "exceptional" well test at giant Indonesian find
Eni’s strong test results at the Geliga-1 discovery offshore Indonesia support plans to accelerate development of a third deepwater gas hub in the Kutei Basin.
CNOOC views Guyana as key asset for company growth
CNOOC Vice President Keith Henderson stated that Guyana's offshore oil developments now rank among the Chinese energy company's top-performing assets globally.
Pakistan gambles on Qatar LNG even as Hormuz disruption exposes energy vulnerability
Pakistan has opted against making fresh emergency purchases of LNG on the spot market despite continued disruption to shipping through the Strait of Hormuz.
India’s state oil groups face mounting losses as Middle East conflict drives up crude costs
India’s state-owned oil marketing companies have accumulated losses of more than $10.4bn over the past 10 weeks on the back of the nation’s shielding of consumers from surging global fuel prices.
Manila provides 45mn litres diesel for remote regions
The Philippine Department of Energy (DOE) is supplying diesel at reduced rates to remote communities served by the National Power Corporation (NPC), the department announced on May 11.
Taiwan budgets $11bn for CPC Corp price subsidies
Taiwan will inject TWD350bn ($11.14bn) into state-owned energy firm CPC Corp over the next four years to ease heavy financial pressure, officials said on May 12.
QatarEnergy’s second LNG tanker transits Strait of Hormuz
QatarEnergy has sent a second LNG tanker to transit the Strait of Hormuz, following an arrangement between Iran and Pakistan to allow safe passage.
Cost estimates rise for Woodside’s delayed Browse LNG project
Australia’s Woodside Energy has raised its cost estimate for its long-delayed Browse LNG project.
South Korea to extend fuel price caps as Middle East tensions drag on
South Korea’s finance minister said temporary price caps on fuel products would remain in place for the time being as the government continues to monitor instability in the Middle East.
Bangladesh's energy crisis biggest barrier to investment
Bangladesh’s unresolved energy shortages remain the most significant obstacle to attracting both domestic and foreign investment, according to Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun.
Pakistan extends fuel-saving austerity measures
Pakistan has extended nationwide austerity measures aimed at conserving fuel and reducing energy consumption until June 13 as elevated global oil prices continue to pressure the country’s import-dependent economy.
Thailand struggles with inflation fueled by energy market volatility
Thailand’s finance minister has defended the government’s planned borrowing for energy transition projects, saying the country is facing an unpredictable economic crisis driven largely by soaring energy costs.
Vietnam explores synthetic aviation fuel using renewable energy
Vietnam pushes ahead with green aviation fuel plans after a state refinery signed a deal with Germany’s GIZ to explore synthetic fuel production using power-to-liquid technology.
Japan takes second Russian oil cargo
Japanese refiner Idemitsu Kosan has purchased a cargo of Russian crude oil, becoming the second Japanese company to resume such imports since disruption in the Middle East upended global energy markets.
World oil inventories falling fast towards hard operational floor
The world's oil buffer is disappearing faster than at any point in recorded history. Two months into the near-closure of the Strait of Hormuz, global inventories are drawing down at a pace that has already exceeded the previous quarterly record.
Shell resumes limited fuel sales in Indonesia at $2.11/litre
Shell Indonesia officially resumed retail operations in Greater Jakarta and Bandung on May 10, ending a month-long drought at its pumps
Australia to require LNG exporters to keep 20% for domestic supply
LNG exporters in Australia will soon have to begin saving one-fifth of their production for the domestic market as Canberra seeks to prevent soaring gas prices and shortages.
Laos becomes key player in ASEAN energy plans
ASEAN leaders are advancing discussions on a regional fuel reserve system after recent supply disruptions linked to tensions in the Middle East, alongside renewed efforts to build a more connected Southeast Asian power network.
Myanmar fuel market eases with price reductions
The Central Bank of Myanmar (CBM) has begun selling US dollars to fuel importers, even as domestic fuel prices continue to fall for a third straight week, according to the Fuel Import, Storage and Distribution Supervisory Committee
Ghana, UAE deepen energy alliance as Abu Dhabi eyes oil and gas investments
Ghanaian President John Mahama and United Arab Emirates leader Sheikh Mohamed bin Zayed Al Nahyan agreed to deepen strategic cooperation in the energy sector, including proposed UAE investments in oil and gas storage facilities in Ghana.
Beijing becomes the chessboard as Iran pre-empts Trump-Xi summit
Araghchi's pre-emptive trip to Beijing, 14 days before Trump meets Xi, has put Iran's interests on the table before Washington can carve them off.
Singapore’s Jadestone Energy eyes expansion in Indonesia
Singapore-based Jadestone Energy(JSE) is moving to expand its presence in Indonesia, shifting its strategy toward acquiring stakes in already-producing oil and gas fields
New Zealand to store fuel in Malaysia, Singapore
New Zealand is exploring a strategic shift in its energy security policy by considering the storage of national fuel reserves in Malaysia and Singapore
Japan has enough petchems to last this year: PM
Japan has secured enough supplies of naphtha-derived chemical products to last beyond the end of 2026 despite disruption risks linked to the Iran war and the Strait of Hormuz crisis.
Australia's MPK secures long-term contract for gas gathering network from Santos
MPK said the award extends a relationship that has seen the company active across Santos’ Surat Basin operations since 2016.
Australia to spend $7.2bn to boost fuel stockpiles
Australia will spend A$10bn to boost fuel stockpiles and establish a permanent government-owned strategic reserve as the Iran war and disruption risks in the Strait of Hormuz expose the country’s heavy dependence on imported fuel.
China's CNOOC posts 7.1% growth in Q1 earnings
China’s state offshore oil producer CNOOC Ltd. reported a 7.1% rise in first-quarter net profit as higher crude prices driven by the Iran war and stronger output lifted earnings.
Conrad's Maku gas project remains on track
Project partner Empyrean Energy said operator West Natuna Exploration had awarded more than $280mn of capital contracts by the end of the first quarter.
Thailand scraps 25-year-old deal with Cambodia on joint offshore exploration
Thailand has terminated a 25-year-old agreement with Cambodia aimed at advancing joint offshore oil and gas exploration in disputed areas of the Gulf of Thailand, a move that risks further straining ties after deadly border clashes last year.
Formosa Petrochemical lifts Taiwan refinery output to 80%
Formosa Petrochemical Corp, Taiwan's leading private refiner, will receive 2mn barrels of crude oil at Mailiao Port, according to company president Lin Keh-yen.
Eneos Xplora acquires 10% stake in Malaysia’s Petronas MLNG Tiga project
Japan’s Eneos Xplora has purchased a 10% stake in Petronas’ Malaysia LNG Tiga project.
India leans harder on coal as heatwave, Iran conflict strain energy supplies
India is increasing its reliance on coal-fired power as a combination of extreme summer heat and global supply disruptions linked to the Iran conflict drive up electricity demand and constrain alternative fuels.
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