AsianOil - Asia Oil & Gas

UPDATED: Oil prices fall to less than zero for the first time in history

Oil prices fell to less than zero for the first time in history as producers ran out of places to store crude on April 20.

Shell, GCL considering Chinese LNG joint venture

Privately owned Chinese company GCL Oil & Natural Gas has signed a framework agreement with super-major Royal Dutch Shell to explore a potential joint venture to market and trade LNG.

LNG market bracing for inevitable shut-ins

LNG shut-ins are thought to be looming, and some regions where the fuel is produced are more vulnerable than others.

China’s imports continue to rise

China’s oil imports continued to rise in the opening months of the year, despite falling domestic demand and rising output from local fields.

OMV hits oil and gas offshore NZ

Austrian developer OMV has struck oil and gas at its Toutouwai-1 exploration well offshore New Zealand’s Taranaki region, the company said on March 14.

ExxonMobil suspends drilling offshore Victoria

US super-major ExxonMobil will suspend its drilling programme offshore Australia’s southern state of Victoria in response to the coronavirus (COVID-19) pandemic, the company said this week.

Santos agrees to Barossa stake sale with JERA

ONGC delays FPSO charter extension

India’s state-run Oil and Natural Gas Corp. (ONGC) has delayed extending the charter contract for a floating production, storage and offloading (FPSO) vessel that is set to expire on April 19.

India’s gas demand tumbles during lockdown

India’s ongoing lockdown in response to the coronavirus (COVID-19) pandemic has seen industrial demand for natural gas plummet.

Australian regulators approve new offshore seismic surveys

Australia’s offshore regulator has approved two new seismic surveys offshore Western Australia, even as the companies involved begin cost-cutting initiatives.