AsianOil - Asia Oil & Gas

ONGC plans $12bn investment in renewables, will go net-zero by 2038

Oil and Natural Gas Corporation (ONGC) of India has announced that it will invest more than $12bn in renewable energy by 2030 with the intention of reaching its own net-zero target by 2038.

Taiwan’s Yang Ming turns to Hyundai for five LNG-fuelled vessels

Leading Taiwanese shipping company Yang Ming has ordered five 15,500 tonne twenty-foot equivalent unit (TEU) LNG powered container ships from Hyundai Heavy Industries (HHI) in South Korea.

India’s LNG imports rise in May for third consecutive month

Imports of LNG in India have risen in May for a third straight month, marking a sharp shift from years of weak demand for the super-chilled fuel. May’s total imports climbed to 2.7bn cubic metres.

JX Nippon acquires 2% stake from TotalEnergies for Papua New Guinea project

JX Nippon Oil & Gas Exploration revealed on June 2 that it has agreed to purchase from TotalEnergies a 2.58% interest in the PRL15 licence in the Gulf Province onshore Papua New Guinea, Offshore Technology reports.

Australia tweaks taxation to secure more from LNG sector

The Australian government has implemented changes to the Petroleum Resource Rent Tax (PRRT) that limit the extent to which taxable profits can be offset by deductions based on initial capital expenditure, causing mixed reactions.

Chevron produces first gas from Gorgon LNG Stage Two in Australia

Chevron and its partners in the Gorgon LNG project revealed on June 6 that the production of first gas has occurred from the Gorgon Stage Two development off the coast of Western Australia, LNG Prime reports.

Indonesian Energy Minister: Pertamina to acquire Shell’s stake in Masela LNG

Indonesian state energy company Pertamina will take over Shell’s 35% stake in the Masela LNG project, Reuters reported on June 5 citing the country’s energy minister, Arifin Tasrif.

Indian, Chinese oil imports from Russia reach new height in May

Intake of Russian oil by China and India soared to a new height in May, as buyers continued to take advantage of discounted cargoes, while the two countries cut back on imports from the Middle East and Africa.

Saudi cuts deeper as OPEC+ extends deal

Saudi Arabia has announced that it will cut its oil output by 1mn barrels per day in July, with OPEC+ agreeing to extend its current deal until next year.

AsianOil: Russia stuck with $1bn of rupees per month on Indian trade

PANNIER: Precarious balancing act for ‘everybody’s friend’ Central Asia

West might talk tough on Russia sanctions enforcement, but it may have to settle for half-hearted promises from region.

Russia stuck with $1bn of rupees per month on Indian trade

Russia is accumulating up to $1bn per month in rupee assets stranded outside the country due to unresolved issues in the trade relationship with India, Bloomberg reports.