AsianOil - Asia Oil & Gas
China may liberalise fuel export sector this year
After several years of confining China’s independent refiners to selling on the domestic fuel market, 2020 appears to be the year the central government is ready to loosen its grip on the export market.
Lakes Oil hits gas in South Australia
Australian junior Lakes Oil has revealed that while its Nangwarry-1 exploration well in South Australia had intersected natural gas intervals at its primary target, it had come up empty at the secondary objective.
Hengyi Industries ramps up Brunei refinery runs
China’s privately run Hengyi Industries has begun operating its new refinery in Brunei at close to full capacity, Reuters quoted a company official as saying on January 2.
Petronas completes deal for Brazilian fields
Malaysia’s state-owned Petronas completed the acquisition late last month of a 50% stake in two deepwater fields in Brazil’s Campos Basin.
Pertamina aims to drill Rokan wells this year
Indonesia’s state-owned Pertamina has said it wants to drill at least 20 wells at the Rokan oil block this year, as it gears up to assume operatorship of the acreage in 2021.
PPL announces oil and gas discoveries
State-run Pakistan Petroleum Ltd (PPL) announced late last month that it had discovered crude oil and natural gas reserves in Balochistan and Sindh Provinces.
Malaysian firm sinks new probe in Kazakhstan
ONGC wins seven onshore blocks
Niko exits India’s deepwater KG-D6 block
Pipes for TAPI delivered
Energas plans 2021 start for Pakistan LNG terminal
Pakistan’s Energas is planning to start up an LNG import terminal in 2021 that would be the country’s largest, pending approval to begin construction.
Developers request to put Philippine LNG on hold
China’s CNOOC Gas and Power and Phoenix Petroleum Philippines have asked for plans to build the $2bn Tanglawan LNG hub project in the Philippines to be put on hold.
China may desire gas, but cheap coal is compelling
China’s push for greater natural gas consumption continues to speed up, even as the year winds down, with imports and production rising and as well as new supply lines opening up.
Petronas to expand work orders
Malaysia’s state-owned Petronas has said in its latest activity forecast that while it expects to step up operations over the next three years, the short-term outlook remains challenging.
Triangle Energy brings fifth Cliff Head well back online
Australian junior Triangle Energy has brought the CH-13 well back into production at the Cliff Head oilfield offshore Western Australian after technical issues took the well out of commission nine months.
PTTEP ups investment budgets
Thailand’s state-owned PTT Exploration and Production (PTTEP) intends to increase its investment budget for 2020 as well as for the next five years.
RIL, BP form retail fuel venture
Indian conglomerate Reliance Industries Ltd (RIL) and UK super-major BP have agreed to create a new retail fuel joint venture that aims to operate a network of retail fuel and aviation fuel stations across India.
Indian Oil to finish Kochi LPG terminal in 2021
State-run Indian Oil has said it intends to finish the construction of its delayed liquefied petroleum gas (LPG) import terminal project at the port of Kochi in Kerala State within the next 18 months.
Aramco and Pertamina to finalise reduced Cilacap plans in Q1
Report: Singapore’s LNG imports to more than triple by 2028
Singapore’s imports of LNG are forecast to more than triple by 2028, according to a new report.
Australia commits to gas reserve scheme
Australian Federal Resources Minister Matt Canavan said last week that the government was ready to implement a national gas reservation scheme in order to lower prices on the east coast.
India continues campaign to extend gas’ reach
India’s efforts to expand the use of natural gas within the country’s primary energy mix continued this week with the opening of the country’s first liquefied natural gas dispensing station.
Malaysia seeks to resolve states’ Petronas royalty demands
The Malaysian government may give oil-producing states such as Sarawak and Sabah a direct interest in state-owned Petronas, Prime Minister Mahathir Mohamad told Reuters on December 10.
Senex expands gas supply deal with Orora
Australian independent Senex Energy has expanded its natural gas sales agreement with Queensland-based Orora, agreeing to supply the manufacturer with 13.2 petajoules (343.84mn cubic metres) of gas from Project Atlas.
Indonesia’s upstream revamp may be too little
Indonesia has begun courting foreign upstream investors following the government’s announcement last week that it was considering the creation of a two-contract licensing model.
Turkmenistan enlists consultant for TAPI
Karoon Energy scales back Australian operations to focus on South America
Bruce Phillips, the chairman of Australia’s Karoon Energy, said last week that his company was taking steps to shift its focus to development projects in South America.
ExxonMobil cancels Australian LNG import project
ExxonMobil said this week that it was abandoning plans to build a liquefied natural gas import terminal in Australia’s south-eastern state of Victoria.
Asian LNG spot prices sink further amid warnings of overpayment on contracts
Asian LNG spot prices – already depressed this year – fell further this week, amid warnings that buyers of the fuel could pay considerably more if they purchase it under long-term contracts.
Santos ups production guidance for 2025
Australian developer Santos has upped its production outlook for 2025 as it settles into the final phase of a strategy first outlined in 2016 as a means of escaping its heavy debt load.
Equinor resubmits Great Australian Bight drilling plan
Norwegian oil and gas developer Equinor has resubmitted its deepwater drilling plan for the Great Australian Bight to offshore regulator National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA).
Petronas sets date for second FLNG unit launch, mulls third
Indonesia considers more flexible upstream licensing system
Indonesia may allow upstream developers to choose between the country’s current licensing model and the one it replaced in 2017, Energy Minister Arifin Tasrif said on December 2.
India’s largest refinery project under review
India has high hopes for oil, gas production
Russia's $55bn Power of Siberia gas pipeline to China comes online
Russia’s Gazprom flagship Power of Siberia gas pipeline mega-project that connects Russia’s Siberian gas fields with China came online on December 2, after the investment of billions of dollars that will earn the company billions more
ESPO boosts capacity by 10%
PNG “disappointed” by Exxon’s rejection of P’nyang terms
Papua New Guinea (PNG) Minister for Petroleum and Energy Kerenga Kua has said he is disappointed with ExxonMobil’s rejection of the government’s terms for the proposed P’nyang natural gas project.
IEEFA calls for Australian upstream tax reforms
Australia’s oil and gas royalty and tax system needs to be overhauled to ensure that upstream companies are paying their fair share, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
Petronas says RAPID is on track despite reports
China’s gasoline exports set new record in October
China’s gasoline exports climbed more than 166% year on year in October to 1.73mn tonnes, according to General Administration of Customs (GAC) data.
Gazprom prepares Power of Siberia launch
More than a decade in the making, the Power of Siberia natural gas pipeline will finally start operations next week.
Petronas claims RAPID on track to start up this year
Malaysia’s state-owned Petronas has downplayed a recent report that its integrated downstream complex in southern Malaysia is running behind schedule.
Pertamina outlines 2020 investment strategy
Indonesia’s state-owned Pertamina intends to invest $7.8bn in 2020, with the majority of that earmarked for the upstream sector.
ONGC ends shale exploration programme early
India’s hopes of replicating the US’ shale gas revolution received a heavy blow this week after state-run Oil and Natural Gas Corp. (ONGC) reportedly ended its shale exploration programme early.
ONGC reportedly mulls HPCL stake sale
India’s state-owned Oil and Natural Gas Corp. (ONGC) is reportedly preparing to sell a portion of its controlling stake in refiner Hindustan Petroleum Corporation Ltd (HPCL).
Market oversupply causes Pavilion to cancel cargo
Oversupply in the global market has led Singapore’s Pavilion Energy to cancel the loading of a US LNG cargo, and more such moves could follow.
ONGC revises down KG-D5 production guidance
India’s state-run Oil and Natural Gas Corp. (ONGC) has revised down its production guidance for the ultra-deepwater KG-DWN-98/2 (KG-D5) block by up to 20%.
Elixir kicks off second Mongolian well
Australian-listed junior Elixir Energy has said it kicked off the second well in a two-well drilling programme on its coal-bed methane (CBM) block in Mongolia.
PNG set to start P’nyang renegotiations with ExxonMobil
The government of Papua New Guinea is set to start talks with ExxonMobil in an attempt to negotiate better terms for the P’Nyang gas project.
Australia must decide the next step in its energy story
Australia is at a crossroads as it decides its energy future. The country is a major natural gas producer, output of which has boomed over the past years to meet ever-increasing demand from buyers across Asia.
KrisEnergy sells stake in Indonesian block to BP
Singaporean developer KrisEnergy has agreed to sell its 30% stake in the Andaman II production-sharing contract (PSC) offshore Indonesia to super-major BP.
Pertamina oil spill reappears off West Java
Indonesia’s state-owned Pertamina has said an offshore oil spill, originally thought to have been contained at the end of September, is leaking once more.
India’s crude oil imports slip 3.3% in October
India’s crude oil imports slipped 3.3% year on year in October to 4.56mn barrels per day, according to government data published on November 14.
India may reduce stake in its largest refiner
The Indian government is reportedly considering reducing its direct stake in the country’s largest refiner, Indian Oil Corp. (IOC), to below 51%.
US LNG exporters looking at increased shipments via Panama Canal
Exporters of US LNG are poised to send more gas to Asia, taking advantage of new transit slots at the Panama Canal.
JXTG unlikely to invest in Aramco IPO
Japan’s largest refiner has cast some serious doubt over whether Saudi Aramco’s long-awaited initial public offering (IPO) will able to attract Japanese investment.
Comet seeks environmental approval for Queensland block
Australia junior Comet Ridge has begun work to secure environmental authority (EA) for a coal-bed methane block in Queensland, the company said on November 12.
Strike claims one of Australia’s largest onshore gas finds
Australian independent Strike Energy has said its block in the Perth Basin could hold one of the country’s largest ever conventional onshore gas discoveries.
PTT’s Q3 profit shrinks 33%
Thailand’s state-owned PTT saw its third-quarter net profit decline by 33% year on year to THB20.25bn ($669.7mn) on the back of weaker downstream and international trading performances.
Indonesia extends Corridor PSC by 20 years
The Indonesian government has extended the production-sharing contract (PSC) for the Corridor Block in South Sumatra Province by 20 years until 2043.
IOC makes first IMO-compliant bunker sale
State-run Indian Oil Corp. (IOC) has completed the country’s first bunker sales of very low-sulphur fuel oil (VLSFO) ahead of the introduction of new international maritime fuel standards.
India extends Cairn’s PSC for Ravva block
The Indian government has extended Cairn Oil & Gas’ production-sharing contract (PSC) for the Ravva block in Andhra Pradesh State by 10 years until 2029, the company said on November 6.
Turkmenistan's pipe dreams
Australian LNG import project faces delays
Australian Industrial Energy’s Port Kembla LNG import plan is being hit by delays as it struggles to lock in buyers for its gas.
PNG commission delays UBS oil loan inquiry
A Papua New Guinea (PNG) government commission set up to investigate a A$1.2bn ($827.3mn) loan from UBS that the former administration used to buy into Oil Search has once again delayed its inquiry.
Indonesia needs to refine energy reform agenda
McDermott wins refinery work in northern Australia
McDermott International has signed an agreement with Darwin Clean Fuels to provide engineering services for a proposed condensate refinery in northern Australia.
South Korea’s oil and gas demand declines
South Korea’s oil and gas demand is in decline, with the country re-embracing nuclear and coal in the power sector while introducing policy measures curbing demand for transportation fuels.
Sarawak to sue Petronas over unpaid tax bill
Malaysia’s Sarawak State government is preparing to take national oil company (NOC) Petronas to court over an unpaid tax bill.
Thai power producers to develop Vietnamese LNG projects
Thai power producers B.Grimm Power and Gulf Energy Development have signed agreements with Vietnam to develop liquefied natural gas fuelled power projects in the South-East Asian country.
Indian bid round attracts eight bids
India’s fourth Open Acreage Licensing Policy (OALP) exploration bid round has attracted eight bids for the seven blocks that were offered.
IOC advances plastics-oil conversion research
State-run refiner Indian Oil Corp. (IOC) has reportedly completed the first phase of research into converting waste plastics into synthetic oil and is now planning to develop commercial processes.
Queensland awards new exploration acreage
The Queensland State government has awarded 3,450 square km of new exploration acreage to six companies, with two of parcels ringfenced for the domestic market.
PetroChina sets production targets for Changqing field
A unit of state-run PetroChina aims to produce 25mn tonnes per year (500,000 barrels per day) of oil and 42bn cubic metres of natural gas from the Changqing field by 2020, Reuters cited local media reports from October 28 as saying.
Turkmenistan to extend Petronas’ PSC for Block 1
Malaysian Prime Minister Mahathir Mohamad has said Turkmenistan will extend state-owned Petronas’ production-sharing contract (PSC) for offshore Block 1 in the Caspian Sea by 10 years until 2038.
KrisEnergy to sell stake in Indonesian deepwater PSC
Singapore’s financially troubled KrisEnergy has agreed to sell its 30% stake in the Andaman II production-sharing contract (PSC) in Indonesia’s Malacca Strait to an undisclosed international major.
BPCL privatisation draws fire
The Indian government’s plan to privatise its 53.29% stake in Bharat Petroleum Corporation Ltd (BPCL) has attracted opposition from both state-level lawmakers as well as company unions.
Chinese gas demand to soar in long term
Chinese natural gas demand is projected to slow this year amid a weakening economy and a government decision in 2018 to rein in its campaign to convert coal-fired heating systems to the cleaner burning fuel.
Aramco further extends Cilacap refinery talks
Philippines split over South China Sea deal with China
The Philippine government’s struggle to present a unified front over a possible exploration partnership with China in disputed waters of the South China Sea continued this week.
Sempra, Mitsui sign MoU on LNG
Sempra Energy has entered into a memorandum of understanding with Japan’s Mitsui & Co. that covers the latter's participation in two LNG project expansions.
Japanese push to establish bunkering hub underway
Japan is making strides in its efforts to position itself as a new LNG bunkering hub as the shipping industry prepares for new fuel regulations.
Philippines, Russia discuss South China Sea exploration
The Philippine government last week welcomed a delegation sent by Russia’s state-run Rosneft to discuss the possibility of jointly exploring the waters offshore the Southeast Asian country.
PTT plans first Myanmar retail fuel station
Thailand’s state-owned PTT has announced plans to open its first retail fuel station in Myanmar and aims to do so early next year.
Oil Search’s Q3 revenue slides 24%
Oil Search’s third-quarter revenue slid 24% year on year on the back of production interruptions and lower international oil prices.
BPCL stake sale draws international interest
Some of the world’s biggest oil companies are reportedly interested in the Indian government’s plans to privatise its controlling stake in Bharat Petroleum Corporation Ltd (BPCL).
Origin under pressure over emissions
Activist investors have criticised Australian developer Origin Energy’s commitment to reducing its carbon footprint, saying the company is not doing enough to reduce this.
Chinese run rates set new high on expanding capacity
China’s downstream has set a new monthly oil processing record, on the back of rising privately owned refining capacity and expanding crude import quotas.
Woodside delays Browse FID, brings forward Pluto LNG expansion
Australia’s Woodside Energy has delayed a final investment decision on its proposed Browse mega-project to the second half of 2021, but has also brought plans to approve its Scarborough gas project and Pluto LNG expansion forward.
Philippines studies SPR options
The Philippine government has begun examining development options for a strategic petroleum reserve (SPR), following last month’s attacks on key Saudi Arabian oil infrastructure.
Barakah terminates rescue deal with Lecca
Malaysian offshore service provider Barakah Offshore Petroleum has agreed with Singapore’s Lecca Group to terminate a deal that would have lifted the former out of exit Practice Note 17 (PN17) status.
Examining the next wave of Asian demand growth
Both developed and developing countries in Asia are expected to drive up LNG demand, but the pace may slow in the nearer term and other obstacles remain.
China’s gas demand to slow this year
China’s state-run Sinopec Gas has forecast that the country’s natural gas demand will expand by 10% this year to 307bn cubic metres.
Higher freight costs hit Asian refiners hard
Asia’s refiners are preparing for a bumpy final quarter of the year as higher supertanker rates – owing to US sanctions on several Chinese shippers – eat into gross refining margins (GRMs).
India’s energy sector attracts foreign partners
Santos buys ConocoPhillips’ gas assets in northern Australia
Australian independent Santos has bought US super-major ConocoPhillips’ operated interests in the Darwin LNG project as well as the Bayu-Undan, Barossa and Poseidon offshore natural gas projects.
India ups funding to Mongolian refinery
India has agreed to provide an additional $236mn of financing for a refinery project in southeastern Mongolia, Indian Minister of Petroleum and Natural Gas Dharmendra Pradhan said this week.
ONGC submits new Cauvery Basin drilling plan
India’s state-owned Oil and Natural Gas Corp. (ONGC) has reportedly sought environmental approval from the central government to drill 24 exploration wells at one of its blocks in Tamil Nadu State.
Pakistan, UAE move closer on refinery project
Pakistan and the United Arab Emirates (UAE) are on the verge of launching construction of a new oil refinery in the South Asian country’s Balochistan Province, an official from the Middle Eastern oil producer has said.
Rosneft pins petchem hopes on India
Russia’s state-run oil company Rosneft is looking to make a foray into India’s petrochemicals market, after experiencing setbacks in the domestic sector.
Malaysia receives first LNG cargo under TPA
Malaysia’s TNB Fuel Services (TNBF) has delivered its first shipment of liquefied natural gas (LNG) to parent company Tenaga Nasional (TNB), testing the country’s third-party access (TPA) rules in the process.
Santos upbeat on NWS well test
Santos has said an initial flow test at its third well on the Dorado field offshore Western Australia suggests the field is capable of producing oil at the upper end of pre-drill expectations.
Senex delivers first gas from Queensland block
Australian independent Senex Energy has announced first gas production from the Project Atlas acreage in Queensland State.
Pertamina urged to curb subsidised diesel sales
The Indonesian government has urged state-owned Pertamina to curb its sales of subsidised diesel as the government’s annual quota is set to run out before the end of the year.
Sinovensa suspends blending operations, following Petropiar’s example
Sinovensa, a joint venture between Venezuela’s national oil company (NOC) PdVSA and China National Petroleum Corp. (CNPC), has reportedly suspended work at its crude blending plants in the Orinoco region.
Chinese companies reportedly keen to expand operations in South Sudan
China is reportedly interested in expanding investments in South Sudan’s oil sector.
Engen reportedly headed for IPO in H1-2020
Engen, a petroleum refiner and retailer that operates in seven African countries, is reportedly gearing up for an initial public offering (IPO) of stock.
Japan pledges $10bn for global LNG projects
The Japanese government has pledged $10bn of both public and private funding for liquefied natural gas (LNG) projects around the world.
Santos, BP win permit offshore WA
Santos and BP have been awarded a new permit offshore Western Australia that the Australian independent has described as being “on-trend with the Dorado discovery” in the adjacent permit.
PetroChina adds oil, shale gas reserves
State-run PetroChina has added more than 1bn tonnes (7.33bn barrels) of oil reserves in north-western China, the company said on September 29.
Sempra announces potential LNG supply deal with China
Sempra Energy’s MoU with a Chinese company over potential LNG supply co-operation suggests growing optimism that an end to the US-China trade war may be coming
PNG seeks better deal on P’nyang project
Papua New Guinea (PNG) Petroleum Minister Kerenga Kua is once more on the war path over how much the government receives from the country’s natural gas developments.
PTT, Gulf Energy to build Thai LNG terminal
Thailand’s state-owned PTT has teamed up with Gulf Energy Development to build a THB40.9bn ($1.33bn) liquefied natural gas (LNG) import terminal on the country’s east coast.
Petronas charters LNG carrier from Avenir
Malaysia’s state-owned Petronas has chartered a liquefied natural gas (LNG) carrier from the UK’s Avenir LNG to be used in bunkering operations offshore the Southeast Asian country.
India cuts gas prices
The Indian government has reduced the price of locally produced natural gas for six months from October 1, the first such cut in more than two years.
ONGC plans domestic drilling campaigns
State-run Indian major Oil and Natural Gas Corp. (ONGC) is reportedly seeking the Ministry of Environment’s approval to begin a 44-well onshore drilling campaign in the country’s south-east.
Pavilion targets Europe in bid to become global LNG trader
Singapore-based Pavilion Energy is targeting new markets in Europe as well as expanding in Asia as the gas importer and marketer aims to become a global trader of LNG.
Mitsui moves to sell BassGas stake
Japanese developer Mitsui & Co. has said it is looking to sell its 40% stake in the BassGas project off the coast of Australia’s south-eastern state of Victoria.
KOGAS agrees to buy US LNG from BP
State-owned Korea Gas has struck a deal to buy 1.58mn tonnes per year of US LNG from super-major BP.
Trader rejects Mitsubishi’s account of losses
A trader that worked at Mitsubishi’s Singaporean arm until last week has disputed the Japanese company’s version of events surrounding a $320mn loss on crude oil derivatives trades.
China updates oil reserve figures
China’s National Energy Administration (NEA) has given its first official update on the country’s strategic oil inventories in almost two years.
Pakistan unveils new LNG projects
Pakistan has taken a major step forward in tackling its chronic natural gas shortages, having shortlisted companies to build five liquefied natural gas (LNG) terminals in the country, either individually or in a consortium.
Petronas posts 9% gain in H1 profit
Malaysia’s state-owned Petronas has posted a first-half net profit of MYR28.9bn ($6.92bn), up 9% on the same period of 2018.
India’s Petronet buys into Tellurian’s Driftwood LNG
Tellurian’s agreement with India’s Petronet brings the company a step closer to an FID on its Driftwood LNG project, and may be one of the largest ever LNG supply deals in US history.
IOC looks to up US oil imports
State-run Indian Oil Corp. (IOC) has said it is willing to increase crude imports from the US once export bottlenecks have been resolved.
Asian LNG buyers seek better contract terms
Asian LNG importers are seeking better contractual terms from their long-term suppliers in response to depressed prices on the spot market.
Russia's Rosneft to invest $850mn in Indian Vadinar refinery
Magnolia terminal to supply gas to Vietnamese LNG-to-power project
Australia-listed LNG Ltd has struck a deal to supply gas to a province in Vietnam from its Magnolia export terminal in Louisiana, on the US Gulf Coast.
Inpex mulls Ichthys LNG expansion
Japanese developer Inpex has revealed that it is looking at ways to expand its $45bn Ichthys LNG project offshore north-western Australia as it approaches full capacity.
China’s oil and gas production climbs in August
China’s crude oil production inched up 1% year on year in August to 16.18mn tonnes (3.83mn barrels per day), according to data from the National Bureau of Statistics (NBS).
The Philippines flipflops on South China Sea
The Philippine government has retreated from President Rodrigo Duterte’s comments that he is willing to set aside an international tribunal’s ruling on the South China Sea in order to explore the area jointly with China.
ONGC may buy out partners in OPaL
India’s state-run Oil and Natural Gas Corp. (ONGC) may buy out its partners in polymer manufacturer ONGC Petro Additions Ltd (OPaL) in order to list the company.
India may privatise BPCL stake
The Indian government is reportedly leaning towards selling its controlling stake in refiner Bharat Petroleum Corporation Ltd (BPCL) to either a private company or an international major.
TPI urges fossil fuel industry to face up to climate change
Australia's Oilex prepares for UK foray
China calls for calm after attacks on Saudi oil production
Asia’s oil importers have been left nervously watching the US beat the war drum in response to attacks over the weekend that knocked out 5.7mn barrels per day of Saudi Arabian crude oil production.
Drone attacks target vital Aramco facilities
Western Gas seeking partner for Equus FLNG
Western Gas has appointed Goldman Sachs to help it find a partner for the Equus LNG project offshore Western Australia.
Costs rise at Aramco & ADNOC’s Indian super-refinery confirmed
China outmanoeuvres India in game of zones
China’s continuing efforts to expand its influence throughout the Asia-Pacific region have unnerved India for many years, with New Delhi striving to counter Beijing’s influence wherever it can.
Buru welcomes WA fracking changes
Buru Energy has welcomed Western Australia’s decision to lift its state-wide moratorium on hydraulic fracturing.
Cosmo Oil stockpiles LSFO ahead of IMO 2020
Japanese refiner Cosmo Oil has begun stockpiling low-sulphur fuel oil (LSFO) produced at its Chiba refinery ahead of a new global maritime fuel standard set to come into force in January.
Petronas buys SK408 production for Bintulu LNG
Malaysia’s state-owned Petronas has agreed to buy natural gas produced from the offshore SK408 production-sharing contract (PSC), co-operator Sapura Energy has revealed.
Strike, Warrego score gas trifecta at WA block
Australian independent Strike Energy announced on September 6 that natural gas had been discovered in all of onshore Block EP 469’s three formations.
Pertamina seeks partner to develop Rokan oil block
Indonesia’s state-owned Pertamina is looking for a strategic partner to help boost output from the Rokan oil block as it gears up to take over the licence in 2021.
Iran, Saudi Arabia vie for India’s affections
Middle Eastern rivals Iran and Saudi Arabia have expressed their commitment to supplying India with oil and gas as they vie to deepen their relationships with the world’s third largest energy consumer.
Gunvor bids low in Pakistani LNG tender
Gunvor has reportedly emerged as the lowest bidder for most of the cargoes in Pakistan’s recent spot liquefied natural gas (LNG) supply tender.
China, Russia mull new gas pipeline
CNPC subsidiary reportedly suspends work on Sinovensa expansion project
Venezuela’s plans for expanding the production capacity of Sinovensa, a joint venture between the national oil company (NOC) PdVSA and China National Petroleum Corp. (CNPC), may be suffering a setback.
Sakhalin-1 partners take decision on LNG plant
Phoenix says talks with CNOOC on LNG JV ongoing
The Philippines’ Phoenix Petroleum, which is headed by businessman Dennis Uy, has denied reports that China National Offshore Oil Corp. may pull back from the two companies’ planned LNG joint venture.
PNG finally backs Papua LNG deal
The Papua New Guinea (PNG) government has said it will honour the terms of the Papua LNG gas agreement, after months of mixed messaging that had left the project’s future in doubt.
China calls for greater domestic gas production
The Chinese government has released a new report calling for a ramp-up in natural gas production in order to boost national energy security.
ConocoPhillips signs new PSC for East Timor gas field
US super-major ConocoPhillips has signed a new production-sharing contract (PSC) for East Timor’s Bayu Undan natural gas field.
PTT seeks Middle Eastern partners
Thailand’s state-run PTT is in talks with Middle Eastern oil and gas producers to help meet the Southeast Asian country’s growing energy demand, company CEO Chansin Treenuchagron has said.
JGC wins EPC contract for Philippine LNG project
Philippine power utility First Gen has awarded an engineering, procurement and construction (EPC) contract for the Batangas liquefied natural gas (LNG) project to Japanese engineering outfit JGC.
PetroChina profits climb on stronger sales
State-run PetroChina has recorded a 3.6% year-on-year increase in its first-half net profit to CNY28.42bn ($3.96bn) on the back of stronger oil and gas sales.
India mulls loan for northeastern pipeline project
The Indian government is reportedly considering an INR54bn ($748mn) loan to fund a new natural gas pipeline that will connect several major cities in the country’s north-east.
OVL seeks extension to block offshore Vietnam
India’s state-run ONGC Videsh Ltd (OVL) has reportedly sought a two-year extension to a block offshore Vietnam, which lies partly in waters claimed by China.
OGNC plans OALP development spending
India’s state-owned Oil and Natural Gas Corp. (ONGC) has reportedly drawn up a four-year, $400mn development plan for blocks won in the country’s first three Open Acreage Licence Programme (OALP) bid rounds.
ATO demands $509mn from Shell
The Australian Taxation Office (ATO) has demanded that Royal Dutch Shell pay a A$755mn ($509.3mn) bill for unpaid taxes on its stake in the Browse natural gas project offshore Western Australia.
Pakistani upstream boosted by new onshore discoveries
Testing of two new discoveries at one of Pakistan’s most prolific blocks has provided a much-needed boost to the country’s beleaguered upstream.
Sinopec’s H1 profit falls 25%
China’s state-run Sinopec Corp., Asia’s largest refiner, saw its first-half net profit shrink 24.7% year on year to CNY31.34bn yuan ($4.38bn) on the back of heightened domestic competition.
Eni wins exploration block offshore Indonesia
A consortium led by Italian major Eni has won an offshore exploration block in Indonesia’s second bid round of conventional fields for 2019.
India launches block offer as output declines
The Indian government has offered seven new exploration acreages under the fourth Open Acreage Licensing Policy (OALP) bid round as it strives to boost a steady decline in national oil and gas production.
BCPL to invest in Indian FSRU
India’s Bharat Petroleum Corporation Ltd (BPCL) has unveiled plans to build an offshore LNG import terminal at Krishnapatnam in Andhra Pradesh.
ONGC plans Gujarat drilling campaign
India’s state-run Oil and Natural Gas Corp. (ONGC) intends to drill 46 exploration wells in 12 onshore blocks in Gujarat State.
India expands gas infrastructure, mulls LNG price review
India’s efforts to spur consumption of natural gas is helping to attract billions in investment, but a growing reliance on foreign supplies is driving the government to review its long-term import contracts.
Pertamina doubles H1 profit
Indonesia’s state-owned Pertamina saw its first-half net profit soar 112% year on year to US$660mn on the back of lower oil prices and reduced crude imports, finance director Pahala Mansury told reporters on August 26.
Shell exits Indian gas distributor MGL
Royal Dutch Shell sold its remaining stake in Indian city gas distribution (CGD) company Mahanagar Gas Ltd (MGL) via a block deal on August 20.
Indian power producers favour coal over gas
India has touted natural gas and renewable energy as the answer to mounting urban air pollution, but structural inefficiencies within the power sector should help coal keep its pole position.
ONGC aims to double output by 2040
India’s state-run Oil and Natural Gas Corp. (ONGC) has unveiled plans to double its oil and gas production by 2040 while also tripling its revenue.
Conrad hires rig for two wells offshore Indonesia
Indonesia-focused Conrad Petroleum has contracted a jack-up drilling rig for a two-well programme at its Duyung production-sharing contract (PSC) after securing government approvals for the development earlier this year.
Shenzhen Gas to start up LNG terminal
Shenzhen Gas has said it will launch operations at its wholly owned liquefied natural gas (LNG) import terminal in southern China’s Shenzhen City this week.
South Korea-Japan dispute could hit kerosene trade
South Korea and Japan’s ongoing trade dispute could lead Seoul to ban kerosene exports to its neighbour ahead of the winter heating season, driving up prices for Japanese buyers in the process.
Papua LNG agreement in doubt once more
After several months of mixed messaging from the Papua New Guinea (PNG) government, the future of the Papua LNG project is once more unclear.
Oilex files counterclaim in dispute with Timor Leste
Australian developer Oilex has filed a $23.3mn counterclaim against the Timor Leste government relating to an ongoing dispute over an offshore production-sharing contract (PSC).
Chinese-Kazakh pipeline JV refinances debts
CNPC subsidiaries cancel plan to load Venezuelan crude
Two CNPC subsidiaries have dropped plans to import several cargoes of Venezuelan oil in light of the US government’s new sanctions on Caracas.
MOL-COSCO deal challenges South Korean LNG shipbuilding lead
Petronas Chemicals’ Q2 profit shrinks 22%
Pertamina’s H1 oil imports drop 35%
Newcastle plan wins CSSI status in NSW
Australian gas crisis sees battle lines drawn
Aramco to buy 20% of RIL’s OTC business
IOC to invest $15bn in Paradip refinery expansion
China’s oil imports jump 14% in July
China to miss 2020 target for E10 use
New Caledonia plans LNG imports
Turkey’s Tupras reports 15% y/y decline in Q2 profit
Q2 profit significantly above market average expectation mainly thanks to hefty deferred tax gain recorded by oil refiner.
Japanese utilities respond to low LNG spot prices
Japanese utilities are becoming more aggressive in their price reviews for long-term LNG contracts and seeking to buy more LNG on the spot market.
Indian upstream attracts unexpected interest
Petronas denies reported interest in Indian refinery
ONGC, partners to exit Sudanese blocks
Australia mulls gas reserve policy
Barakah sues Petronas over licence suspension
IOC’s profits slip in April-June quarter
PNG backs Papua LNG agreement
Papua New Guinea (PNG) Petroleum Minister Kerenga Kua has said the government will stand behind the natural gas agreement it signed in April, paving the way for the development of the Papua LNG project.
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