AsianOil - Asia Oil & Gas
PetroVietnam unable to stockpile cheap oil
State-owned PetroVietnam has said that it is unable to capitalise on low international crude oil prices owing to limited storage capacity.
Sinopec Northwest resumes normal gas supply to WEP
China’s state-run Sinopec Northwest Oilfield has fully resumed its supply of natural gas produced from fields in the Xinjiang region to the West-East Pipeline (WEP).
AGIG mulls midstream investment at gas project offshore Victoria
Australian Gas Infrastructure Group (AGIG) may join a AUD200mn ($126.8mn) development of midstream gas infrastructure necessary to commercialise the Golden Beach gas production and storage project off Victoria’s coast.
Jadestone plays it safe in 2020 after record 2019
Singapore’s Jadestone Energy saw its production, revenue and profit skyrocket in 2019 as it finally managed to enjoy the fruits of its labour at the Montara oilfield offshore Australia.
Qatar picks Chinese yard to build LNG carrier fleet
State-run China State Shipbuilding Corp. (CSSC) and state-owned Qatar Petroleum have signed a contract that will see the Chinese company build a new fleet of liquefied natural gas (LNG) carriers for the Middle Eastern gas giant.
ONGC pressures government over tax relief issue
India’s state-run Oil and Natural Gas Corp. (ONGC) has reportedly asked the government once again for tax relief as low oil prices push its upstream division into the red.
Beach’s Q3-FY20 production climbs, revenue slides
Australian independent Beach Energy increased its production in the third quarter of financial year 2019-2020 by 8% quarter on quarter to 6.9mn barrels of oil equivalent (76,700 boe per day).
Pertamina cuts 2020 production targets
Indonesia’s state-owned Pertamina has reduced its oil and gas production target for 2020 by 3% to 894,000 barrels of oil equivalent per day (boepd), CEO Nicke Widyawati revealed on April 20.
Examining the WTI collapse
The unprecedented crash in WTI prices into negative territory has been attributed primarily to the mechanics of futures contracts, but nonetheless illustrates an oversupply crisis as storage fills up.
Arrow Energy JV sanctions Surat gas project
The Arrow Energy joint venture, comprising Royal Dutch Shell and PetroChina on a 50:50 basis, has sanctioned the first phase of the Surat gas project in Queensland, Australia.
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