AsianOil - Asia Oil & Gas

US LNG exports to China resuming thanks to tax waivers

Shipments of US LNG to China are resuming after Beijing has reportedly started granting tax waivers to certain importers of the super-chilled fuel.

Global oil storage facilities near capacity

The unprecedented glut in global oil supply has tested storage capacity to the limits, driving the world’s biggest producers to negotiate a truce this year and curb their output.

Trump signals Russia-Saudi truce

Woodside postpones FIDs on LNG projects amid downturn

Australia's Woodside Petroleum is postponing final investment decisions on three LNG projects – the Scarborough offshore gas development, Browse LNG and Train 2 at the existing Pluto LNG facility.

Russia, Saudi Arabia agree to slash oil production, Trump claims

Donald Trump said on April 2 that Russia and Saudi Arabia would be cutting their output, instead of continuing with a supply war that could result in hundreds of oil companies going out of business. The Kremlin denied his claim.

Pavilion calls for industry standard on GHG emissions

Singapore’s Pavilion Energy is asking potential suppliers to work on developing an industry standard for greenhouse gas emissions from LNG.

Saudi oil surge and the threat to the energy transition

The Saudi-led oil glut leaves the energy transition and decarbonisation efforts hanging in the balance

PetroVietnam cuts salaries

State-owned PetroVietnam has said it will cut employee salaries as it reduces costs in response to the international oil price crash.

AEMO warns of gas supply shortfalls

Australia’s East Coast gas market is on track to experience natural gas shortages within the next five or so years, a new report by the Australian Energy Market Operator (AEMO) has warned.

ONGC calls for an end to Indian gas price controls

India’s state-run Oil and Natural Gas Corp. (ONGC) has called on the government to remove price controls on locally produced natural gas.

Cooper unfazed by oil price crash, coronavirus pandemic

Australian junior Cooper Energy has said its business model will be largely unaffected by both the oil price crash and the coronavirus (COVID-19) pandemic.

Australia’s 3D Oil secures work programme extension

Australia’s offshore licensing body has granted 3D Oil a 21-month extension to its work programme in the WA-527-P crude oil play, which lies in the offshore Bedout sub-Basin.

Sinopec trims 2020 capex, expands upstream budget

China’s state-run Sinopec has announced plans to trim its 2020 capital expenditure by 2.5% year on year to CNY143.4bn ($20.19bn).

McDermott confirms start-up of ONGC deepwater well

India’s state-owned Oil and Natural Gas Corp. (ONGC) has brought its first deepwater natural gas well at the KG-DWN-98/2 block on stream.