AsianOil - Asia Oil & Gas

Venezuela’s economy hit by Chevron’s licence expiration

President Nicolás Maduro recently downplayed the significance of US oil major Chevron’s recently expired US licence, asserting that Venezuela’s oil sector operates independently of foreign approvals.

Japan's petrol prices fall to 15-month low

Sapura Resources averted default with $9.4mn injection, court hears in sibling dispute

The High Court heard on June 3 stated that Sapura Resources Bhd (SRB) narrowly avoided a payment default after Sapura Holdings Sdn Bhd injected MYR40mn ($9.4mn) into the company just one day before the due date

IGU on LNG risks and opportunities

Oil India begins gas production from Rajasthan’s Bakhritibba field

Oil India Limited (OIL), one of India’s leading state-run upstream oil and gas producers, has commenced gas production from the Bakhritibba Discovered Small Field (DSF) block in Rajasthan’s Jaisalmer district

Australia approves Woodside’s request to extend North West Shelf plant to 2070

Woodside Energy’s request for an extension until 2070 of the life of its North West Shelf LNG facility has been granted approval by the Australian government.

India’s Gail seeks to resell LNG cargoes amid cooler temperatures

India’s state-run gas company Gail is looking to offload contracted LNG cargoes as demand craters in the South Asian country.

Japan’s JERA expresses interest in Alaska LNG project

Japan’s largest oil and gas trader, JERA, has indicated it is interested in purchasing LNG from the proposed Alaska LNG project, as a delegation of top energy and government officials prepares to travel to the US for negotiations.

India's Torrent Power signs LNG deal with BP

Indian power utility Torrent Power has entered into a long-term sales and purchase agreement (SPA) with BP Singapore, a subsidiary of global energy major BP, for the annual supply of up to 0.41mn tonnes of LNG

Thai firm teams up with Myanmar military junta on new offshore gas project

Thailand’s Gulf Petroleum Myanmar has entered into a fresh production-sharing agreement with Myanmar Oil and Natural Gas Enterprise, the state-run entity controlled by the country’s military junta.

Rough seas disrupt LNG operations off Bangladesh coast

Market observers note that Bangladesh’s offshore LNG infrastructure remains vulnerable during the annual monsoon. In 2024, one of the two FSRUs suffered damage during Cyclone Remal in late May, disrupting energy imports.

Saudi oil accounts for over a third of Japan’s crude imports in April

The figures show that Japan imported 27.10mn barrels of oil from Saudi Arabia out of a total 74.77mn barrels in April. The broader Arab region continues to dominate Japan’s energy supply.

Domestic regulated natural gas price in India drops to two-year low

India’s domestic natural gas price has dipped to a two-year low of $6.41 per million British thermal units (mmbtu) for June, marking a notable cost break for city gas operators and other consumers of regulated fuel

UAE tops Japan’s oil suppliers in April with 34mn barrels

The United Arab Emirates was Japan’s largest crude oil supplier in April 2025, delivering 34mn barrels, or 45.5% of Japan’s total oil imports that month.

Japanese shipping firm seeks government backing after EU sanctions LNG vessels

The European Council announced its 17th package of sanctions last week, aimed at tightening pressure on Moscow and addressing gaps in earlier measures.