AsianOil - Asia Oil & Gas

Trump calls on OPEC to ramp up oil supply

"Right now the price is high enough that that war will continue," Trump said at Davos.

Increase in US LNG production will aid India, Petronet head says

India is set to benefit from a rise in US LNG production following Donald Trump’s return to the White House, Petronet’s chief executive officer Akshay Kumar Singh said in an earnings call.

ADNOC Gas signs $450mn supply deal with Japan’s JERA

United Arab Emirates’ state-run ADNOC Gas has signed a three-year LNG supply deal worth $450mn with Japan’s largest power generation firm, JERA.

UK group EnQuest to acquire Vietnam oil assets from Harbour Energy

UK energy group EnQuest has announced its acquisition of Harbour Energy's Vietnam-based oil and gas assets, signalling a move to expand beyond the North Sea amidst challenging tax policies in the UK.

Pakistan's oil and gas output drops amid waning demand

Sri Lanka aims to speed up $3.7bn refinery construction

The Sri Lankan government has announced a partnership with China’s Sinopec to accelerate the development of a long-anticipated oil refinery in the southern port city of Hambantota.

Indian Gas Exchange launches long duration contracts

The Indian Gas Exchange (IGX) has introduced long-duration contracts (LDCs) for 3-6 months, following approval from the Petroleum and Natural Gas Regulatory Board (PNGRB)

Indian agency projects oil consumption to jump in fiscal years 2025, 2026

India’s government agency PPAC has projected a big increase in domestic demand during the 2026 fiscal year. The projection comes as India moves away from discounted crude oil imports from Russia.

US sets February 27 deadline for discharging Russian oil tankers

The United States has clarified to India that tankers carrying Russian oil must offload their cargo by February 27 under newly imposed sanctions aimed at curbing Moscow's oil revenue

Bangladesh signs LNG deal with US-based Argent LNG

The government of Bangladesh has entered into a Heads of Agreement (HOA) with Louisiana-based Argent LNG for the purchase of up to 5mn tonnes of liquefied natural gas (LNG) annually over 20 years

India’s doubts over TAPI Pipeline persist amid security and geopolitical concerns

The TAPI pipeline project, upon completion, will span 1,814 kilometres, beginning at the Galkynysh Gas Field in Turkmenistan, the world’s second-largest natural gas reserve

Gasoline prices dip ahead of Vietnam's Tet Holiday

Gasoline prices in Vietnam dipped ahead of the Lunar New Year Tet holiday, offering some respite to consumers as they prepare for the festive season

Iraqi oil minister secures fuel supply for Rajab Pilgrimage

ExxonMobil to invest $15bn in carbon capture and petrochemical projects in Indonesia

ExxonMobil has committed to investing up to $15bn in two major projects in Indonesia: a carbon capture and storage (CCS) facility and a petrochemical refinery

India’s consumption of refined petroleum fuels to reach new record in FY26

India’s consumption of refined petroleum fuels and products is projected to reach a new record in the financial year 2025-26 (FY26), driven by steady energy demand across various sectors

CNOOC sets ambitious 2025 production target, boosts dividend pledge

China’s offshore oil and gas giant, CNOOC, has raised its 2025 production forecast, aiming for a record output.

EnQuest to acquire Harbour Energy's Vietnam assets for $84mn

British energy group EnQuest said on Wednesday it would acquire Harbour Energy's business in Vietnam for $84mn, including debt, as the North Sea-focused company seeks to expand outside its home market amid higher UK taxes

India open to buying more oil and gas from US, minister says

India would welcome additional oil and gas supplies entering the market, particularly from the United States under President Donald Trump, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri stated

Indonesia exempts oil and gas exporters from new export proceeds rule

Indonesia announced it will exempt oil and gas exporters from its new regulation requiring all proceeds from natural resource exports to remain onshore for one year, responding to concerns raised by businesses about the potential impact on cash flow

Argentina's YPF seals memorandum of understanding with Indian firms for LNG exports

Argentina's national oil company YPF has signed a memorandum of understanding (MoU) with three Indian firms that could lead to LNG exports of up to 10mn tonnes per year.

Indian refiners pivot to Middle East following fresh US sanctions

New US sanctions pushed Indian state refiners to request Abu Dhabi National Oil Co (ADNOC) to price its crude on a delivered basis on 21 January, after freight rates rose sharply this week.

Petronas and Sarawak agree on gas resources in Borneo

Malaysia’s state-owned Petronas has reached agreement with the autonomous government in Sarawak regarding management of the hydrocarbon resources on the island of Borneo.

Santos delays Australia's $1.9bn Dorado oil project

Australian oil giant Santos has postponed its $1.87bn Dorado oil and gas project in Western Australia, triggering a significant 23% drop in the share price of junior partner Carnarvon Energy.

Coates hires UGL for LNG engineering work off Queensland

Australian equipment supplier Coates has entered a long-term agreement with UGL, a specialist provider of end-to-end engineering services, to support LNG facilities on Curtis Island.

Central Petroleum, partners achieve strong gas flow results from Mereenie well in Australia's Northern Territory

ASX-listed explorer Cue Energy Resources announced on January 22 that the recently drilled the onshore West Mereenie 29 (WM29) well in the Amadeus Basin in the Northern Territory, has delivered strong results.

CNOOC launches new Yinggehai Basin gas project off China

China’s state-owned offshore oil and gas operator China National Offshore Oil Corporation has commenced production at the Dongfang 29-1 gas project in the Yinggehai Basin, offshore China.

Asia's gas industry welcomes Trump's lifting of LNG approval pause

“The resumption of US LNG export approvals is welcomed by every country in Asia,” ANGEA CEO Paul Everingham said.

Taiwan’s LNG policy faces environmental, safety criticism

Taiwan’s push to increase LNG infrastructure by adding a proposed fourth LNG terminal, near the port city of Keelung in the north of the country, has drawn criticism from environmental groups and local stakeholders.

India on the brink of a new oil shock

India is facing the very real threat of an oil shock as new US sanctions targeting Russian crude come into force.

Cambodia's oil and gas imports surge 12% in 2024 amid rising domestic demand

Cambodia's reliance on imported oil and gas deepened in 2024, with total spending surging 12% to $2.69bn, according to a Ministry of Commerce report released on January 21.

Chinese power projects under CPEC leave Pakistan struggling with debt

The China-Pakistan Economic Corridor (CPEC), once hailed as a transformative initiative for Pakistan’s economy, has left the nation grappling with substantial debt and soaring electricity costs.