AsianOil - Asia Oil & Gas

NRG: Trying to adapt

World oil markets have found some support over the last week, but companies are still adjusting to the new price environment.

Sibur, Sinopec strike shareholder deal for Amur chemicals complex

Shell to sell two more cargoes of carbon-neutral LNG

Royal Dutch Shell has agreed to supply two more cargoes of carbon-neutral LNG, as it continues to grow this nascent industry.

Philippines aims to resume South China Sea exploration

The Philippines is studying ways to resume exploration in the contested waters of the South China Sea as it strives both to assert its sovereignty in the area and bolster its energy security prospects.

Australia to up funding for exploration programme

The Australian government has pledged to more than double its original investment in the Exploring for the Future (EFTF) programme, which aims to promote the country’s upstream potential.

Japan concerned less by oil imports, more by fuel demand split

The Japanese petroleum sector is less concerned by OPEC+’s efforts to reduce global crude supply than it is with the widening split in domestic demand for jet fuel and automotive fuels.

China aims to boost oil and gas production

The Chinese government has said it wants to increase the country’s crude oil production by 1% to 193mn tonnes (3.87mn barrels per day) this year and its natural gas output by 4.3% to 181bn cubic metres.

Petronas appeal against Sarawak tax is adjourned

Malaysia’s Court of Appeal has adjourned until August 3 Petronas’ case against a High Court decision that Sarawak State can levy sales taxes on petroleum products.

India’s crude imports slump to nine-year low in May

India’s crude imports reportedly slumped to a nearly nine-year low last month as refiners slashed run rates in response to the months-long coronavirus (COVID-19) lockdown.

Pertamina upbeat over new reserves

While Indonesia’s state-owned Pertamina has revealed a slight decline in last year’s production, the developer remains confident that new reserve additions will help lift its output.

PTTEP targets distressed upstream assets

Thailand’s PTT Exploration and Production (PTTEP) intends to use the oil and gas industry’s current downturn to expand its upstream portfolio, despite having been forced into slashing its own budgets earlier this year.