AsianOil - Asia Oil & Gas
Shell wraps up sale of chemicals park in Singapore
Indonesia’s Chandra Asri Group and commodities giant Glencore have finalised the acquisition of Shell’s Energy and Chemicals Park in Singapore.
China extends shale gas subsidy programme
China will extend its subsidy programme for unconventional natural gas production out to 2029, as part of efforts to boost domestic output and reduce reliance on imports.
Petronas raises $5bn in multi-tranche bond sale
Malaysia’s state energy firm Petronas has raised $5bn through a multi-tranche senior bond issuance, marking the largest oil and gas-related debt sale in Asia since 2020 and its biggest international bond market transaction since 2021.
CNOOC makes major oil and gas find in South China Sea
China’s monopoly offshore oil operator CNOOC announced a major discovery in the Huizhou 19-6 oilfield in the eastern South China Sea on March 31, raising the field’s proven in-place volumes to over 100mn tonnes (733mn barrels) of oil equivalent.
PetroChina sees 2% uptick in profit in 2024
The company's bottom line was supported by higher oil and gas production.
UK's EnQuest reports falling production, revenue for 2024
UK oil and gas operator EnQuest reported falling production and revenue for 2024 in a financial update last week, while outlining a strategic push for growth in the UK North Sea and Southeast Asia in the year ahead.
Oil prices surge on Trump threat to slap tariffs on Russian oil
Should tariffs come into force, Russian flows to its key customers could drop, tightening supply and potentially prompting OPEC+ to act to stabilise the market, according to Rystad.
Vietnam plans import tax cut for LNG
Vietnam's Ministry of Finance is drafting a decree on a preferential import tax for certain products, including a proposal to reduce the import tax rate on LNG to 2%.
Iranian crude cargoes in SE Asia looking for a home
An estimated 17mn barrels of Iranian crude oil is stuck offshore Malaysia with no apparent buyers, and has been floating off the Malay peninsula for over a month.
Malaysia pipeline fire injures over 300, leaves hundreds homeless
A massive fire erupted at a Petronas-operated gas pipeline in Puchong, near Kuala Lumpur, on April 1, injuring scores of people and damaging nearly 200 homes
India’s energy growth to follow unique low-carbon path
India is expected to become an important player in global energy markets, following a distinct growth path marked by lower energy intensity, a diverse energy mix and expanding commodity imports, according to Wood Mackenzie's latest Horizons report.
India's GAIL to receive Qatar LNG deliveries this month, plans more deals
India’s gas transmission and distribution company GAIL (India) is due to begin receiving Qatari LNG this month, marking the start of a new round of contracts designed to meet the country’s growing energy needs.
Venezuela is latest US-China battleground for oil
China's crude oil trade with Venezuela has experienced a significant slowdown of late following a fresh directive from US President Donald Trump.
India raises domestic gas prices for April
India has raised the price of domestically produced gas from oil fields by nearly 4% to $6.75 per mn metric British thermal units (mmBtu) for April
GAIL India to start receiving LNG from Qatar in April under five-year deal
Indian state-owned gas utility GAIL (India) Ltd will start receiving LNG under a five-year, 12 cargoes per year deal from Qatar Energy Trading from April
Cracks appear in EU plan to adopt Japan-style LNG model
The European Union is in the midst of assessing whether to adopt a “Japanese model” of direct investment in LNG projects as the bloc grapples with high energy prices and low gas storage levels.
Shell targets 5% annual increase in LNG sales over next 5 years
Shell is aiming for a 4-5% annual increase in LNG sales over the next five years, stated the supermajor’s finance chief, Sinead Gorman.
Malaysian government under scrutiny over Sapura Energy financial crisis
The company’s debt started ballooning due to aggressive expansion strategies that started in 2018, when it sought external financing to sustain operations, taking on multi-currency loans from various financial institutions.
US tariffs on Venezuelan oil put China, India, Spain in spotlight
Washington’s move to impose 25% secondary tariffs on nations purchasing Venezuelan oil and gas has drawn sharp reactions, particularly from China, the top buyer of the South American country’s crude.
Vietnam to cut tariffs on US LNG, cars to ease trade surplus concerns
Vietnam will reduce tariffs on several US products, including liquefied natural gas and automobiles, as it seeks to address concerns over its large trade surplus with the United States, a finance ministry official said.
Gas Malaysia extends $1.5mn cash advance to joint venture with Tokyo Gas
Gas Malaysia Bhd has provided a MYR6.5mn ($1.5mn) cash advance to Gas Malaysia Energy Advance Sdn Bhd, a 66:34 joint venture with Tokyo Gas Engineering Solutions Corp, to enhance cash flow and optimise resource allocation within the group
US tariff threat on Venezuelan oil poses new hurdle for India’s diversified strategy
The US’s proposed 25% secondary tariffs on countries importing Venezuelan oil represents a fresh challenge for India’s oil diversification strategy, particularly as it competes with China for access to Venezuelan crude
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