AsianOil - Asia Oil & Gas

China feels Venezuela shock

The detention of Venezuela’s president Nicolás Maduro by US forces has disrupted China’s oil supply links with Caracas, raising uncertainty over crude flows, debt repayment and refinery costs.

US presses Venezuela to sever ties with China and allies

The administration of US President Donald Trump has informed Venezuela’s interim president, Delcy Rodríguez, that Caracas must end economic relations with China, Russia, Iran and Cuba as part of conditions for restarting oil production and sales.

Venezuelan authorities to turn over 30mn-50mn barrels of sanctioned crude to the US

US President Donald Trump announced on January 6 that Venezuelan authorities will turn over 30mn to 50mn barrels of sanctioned crude to the US, redirecting exports from China to the US.

Global LNG exports jump 4% in 2025

Global LNG exports climbed to 429mn tonnes in 2025, representing a 4% increase from a year earlier.

India's Reliance sees no Russian crude arrivals in January

Reliance Industries said on January 6 that it does not expect any deliveries of Russian crude oil in January, a development that is likely to push India’s imports of Russian oil to their lowest level in years

Cambodia’s first 900-MW LNG power plant to begin operations by late 2026

Cambodia is set to launch its first LNG power plant in Koh Kong province by the end of 2026, a development expected to bolster electricity supply, enhance energy security, and stabilise the national grid.

Oil, gas industry faces "tougher strategic balancing act" in 2026: WoodMac

Wood Mackenzie expects the strategic pressure on companies to intensify in 2026, warning that the industry faces “an even tougher strategic balancing act" in 2026.

Egypt signs two agreements to supply Syria with gas and petroleum products

Egypt has signed two agreements with Syria to supply natural gas for electricity generation and to meet the country’s needs for petroleum products

Trump warns of higher tariffs on India over Russian oil

United States President Donald Trump has warned that Washington could impose additional tariffs on Indian exports if New Delhi does not stop buying Russian oil, adding fresh uncertainty to ongoing efforts to conclude a bilateral trade agreement

Indian shares edge lower as investors weigh global cues

No significant effect could be observed on Indian equities despite a heavyweight oil refiner Reliance Industries (NSE:RELIANCE) listed on them having a lot of exposure to Venezuela’s crude oil trade

Geopolitical volatility triggers OPEC+ retreat to market neutrality

The leading factions of the OPEC+ alliance have opted to maintain current crude production ceilings

Indian Oil Corp turns to Colombian crude as Russia supplies tighten

Indian Oil Corp has purchased its first cargo of Colombian crude under an optional supply agreement with state-controlled producer Ecopetrol, as India’s largest refiner moves to diversify feedstock away from Russian oil

Taiwan announces reduction in domestic fuel costs

Venezuela crisis draws India’s concern after US military action

New Delhi called on all parties to resolve differences through dialogue to preserve peace and stability in the region.

Vietnam plans at least 20 new LNG-fired power plants by mid 2030s

The development of LNG-fired capacity sits within a broader revision of the nation’s Power Development Plan, known as PDP8.

China’s increasing influence over oil prices

China has long been treated as a passive price taker in global oil markets, with conventional wisdom holding that producers, led by OPEC and its allies, set prices by adjusting output.

China takes over 20 sanctioned Russian LNG shipments despite Western curbs

China received 22 shipments of LNG in 2025 from two Russian export projects subject to US and European Union sanctions, highlighting Beijing’s continued engagement with Moscow’s energy sector.

India scales up clean energy push with 132 compressed biogas plants, expands upstream reforms

India has commissioned 132 compressed biogas plants with a combined production capacity of 920 tonnes per day, marking steady progress in building a cleaner and more decentralised renewable energy ecosystem

Myanmar eyes expanded gas production with Chinese support

Talks highlighted opportunities for increased Chinese investment and technical support in Myanmar’s energy sector.

Mongolia’s first oil refinery 50% complete, construction schedule accelerated

The project to build Mongolia its first oil refinery under an intergovernmental agreement with New Delhi is 50% complete.

US exports record 111mn tonnes of LNG in 2026

US shipped nearly 20mn more tonnes of LNG than its closest rival Qatar.

China-Iran trade plunges 24% as sanctions bite and Beijing shifts oil suppliers

China-Iran trade plunges 24% to $9.09bn in first 11 months of 2025 as Beijing shifts to Russian crude whilst banking constraints and US sanctions pressure weaken bilateral commerce despite strategic cooperation claims.

India's LNG imports up 5% in November

India’s liquefied natural gas (LNG) imports rose in November 2025, reaching 2.85bn cubic metres (bcm), up 4.9% year-on-year

Pakistan textile mills seek winter waiver on gas levy amid power reliability risks

Pakistan’s textile manufacturing sector has formally sought a temporary waiver on gas levies for captive power generation as it braces for acute winter-related energy disruptions that threaten production schedules and export commitments