AsianOil - Asia Oil & Gas

NRG: Some forward momentum, but overall restraint

Despite the relative stability of crude prices in recent days, more news of activity cutbacks, earnings losses and demand weakness continues to come in, and all eyes are turning to the forthcoming OPEC+ meeting.

Investigation casts shadow on Gazprom's eastern export plans

Lockdown lifted at Gazprom field delivering gas to China

Mitsubishi discusses gas projects in Turkmenistan

China’s leaders urged to ramp up oil storage

Chinese officials are reportedly calling on the government to ramp up crude oil stockpiling to capitalise on low prices, just days after it emerged that domestic financial investors were doing just that.

Oilex finds new buyer Cooper-Eromanga assets

Australian junior Oilex has found another buyer for its interests in the Cooper-Eromanga Basin after its first deal fell through in April.

Pakistan may cut fuel prices despite refiners’ concerns

Pakistan’s Oil and Gas Regulatory Authority (OGRA) has reportedly called for retail gasoline prices to be reduced despite warnings of a looming fuel shortage.

Indian refinery runs plummet in April

India’s refinery runs fell 28.8% year on year to 14.75mn tonnes (3.6mn barrels per day) in April as the country’s prolonged coronavirus (COVID-19) lockdown drove down oil product demand.

Pertamina to bring Balikpapan refinery back on stream in June

Indonesian national oil company (NOC) Pertamina said this week that it intended to restart its Balikpapan refinery from June 1 as Indonesia weighs up plans to ease or even exit its lockdown.

Santos completes acquisition of ConocoPhillips’ gas assets

Australian independent Santos has completed its acquisition of US super-major ConocoPhillips’ northern Australia and Timor-Leste assets for a reduced upfront price.

Indonesia’s Mako gas field receives resource boost

Conrad Petroleum’s Mako natural gas field offshore Indonesia has seen its resources upgraded significantly following an independent audit, junior partner Coro Energy said this week.

Petronas cuts spending amid collapsing profits

Petronas intends to cut spending across the board after low energy prices more than halved the company’s bottom line in the first quarter.