AsianOil - Asia Oil & Gas

Decline in gas lifting prompts call for accelerated oil and gas development

Finance Minister Sri Mulyani Indrawati reported a decline in average gas lifting from 955,000 barrels of oil equivalent per day in the first half of 2023 to 918 kboepd in the first half of 2024.

State-owned subsidiary Pertamina Hulu Rokan discovers new oil and gas reserves in Rokan block

PT Pertamina Hulu Rokan continues its extensive exploration activities following the takeover of the Rokan Block in 2021.

Indonesian government to launch environmentally friendly fuel soon

The government is set to release a new, more environmentally friendly fuel in the near future.

Canada’s Asian oil exports to grow

Asia oil imports from Canada’s Trans Mountain expansion are ramping up, and are expected to increase starting in September.

India plans major autumn bidding round, minister says investment opportunities worth $100bn

India’s Directorate General of Hydrocarbons is planning to launch the country’s 10th bidding round in August or September this year. The new search for oil and gas assets on- and offshore India will come under the Open Acreage Licensing Policy.

Cambodia's fuel demand heats up in first half of 2024

Cambodia's thirst for oil is on the rise, with imports of diesel fuel and petroleum oils surging by 22% in the first half of 2024, according to a report released by the Ministry of Commerce on July 16

BP: oil demand and emissions will peak in 2025

Oil super major BP's latest outlook on global energy trends suggests a potential peak in worldwide oil demand as early as next year, a development that could mark a significant turning point in global carbon emissions by 2025.

CNOOC reports strong test-flow result in Bohai Bay

China's state-owned offshore oil and gas operator CNOOC announced on July 15 a strong result at a discovery well in the Bohai Bay.

Global oil supply to continue outstripping demand in H2: IEA

Global oil demand in the second half of this year will be higher than supply, putting upward pressure on prices.

Longboat wraps up Norwegian sale, focuses on Malaysia

London-listed Longboat Energy reported on July 15 it had completed the sale of its Norwegian business for $2.5mn, as it looks to shift its focus to assets in Malaysia.

The world needs $8.2 trillion in upstream gas investment to meet demand in 2050: GECF

Meeting projected global demand for natural gas in 2050 will require some $8.2 trillion in investment in exploration and production.

AIM-listed Petro Matad wants initial oil production at Mongolia Heron field by year-end

Southeast Asia is looking forward to a $100bn offshore gas production investment bonanza

Southeast Asia is looking forward to an offshore gas production investment bonanza where investment more than double to $100bn in the coming years as long-delayed projects receive their FIDs thanks to a growing demand for energy in the region.

Vietnam proposes tighter regulations for key petroleum traders

Vietnam's Ministry of Industry and Trade (MOIT) has proposed stricter regulations for key petroleum trading enterprises in the third draft of the Decree on petroleum trading.

SapuraOMV launches key gas field off Malaysia

Malaysian oil and gas producer SapuraOMV has brought on stream its flagship Jerun gas project off the coast of Sarawak, the company announced this week.

BP predicts 40% rise in LNG demand by 2030

UK supermajor BP forecasts that global demand for LNG will climb by as much as 40% by the end of the decade in comparison to 2022 levels, the company stated in its 2024 energy outlook.

Global LNG trade rises by 3.1% in 2023

Global LNG trade climbed 3.1% last year with an average of 52.9bn cubic feet per day a report released by the International Group of Liquefied Natural Gas Importers revealed.

Russia’s Novatek seeks to gain foothold in China’s LNG market

Russian state-run LNG developer Novatek has offered part of an LNG cargo to China as its new China marketing arm pushes to break into China’s massive domestic gas market.

Indonesia's oil production decline amid efforts to boost output

Despite efforts to increase saleable oil production, Indonesia’s oil output continued to decline in the first half of 2024.

Indonesian government faces challenges in continuing specific natural gas price programme

The government's decision to continue the Specific Natural Gas Price programme will face numerous challenges,

PT Kilang Pertamina Internasional advances green refinery project in Cilacap

PT Kilang Pertamina Internasional (KPI), a subholding of Refinery & Petrochemical Pertamina, is progressing with the Green Refinery Cilacap project, a National Strategic Project aiming for a biofuel production capacity of up to 6,000 barrels