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QP reserves South Korean LNG shipbuilding capacity in $19bn megadeal
QP has agreed to reserve LNG shipbuilding capacity with three South Korean shipbuilders in an order worth $19bn as the company pushes on with its gas expansion plans.
Pertamina, CPC close to building West Java petrochemical plant
Indonesia’s state-owned Pertamina and Taiwan’s state-run CPC are reportedly set to build joint petrochemical complex in West Java Province.
OIL struggles to cap gas well blowout
The Indian Ministry of Petroleum and Natural Gas has sent to a team to inspect state-run Oil India Ltd’s (OIL) well in Assam State, which has been leaking natural gas and condensate for more than a week.
EBRD support for green energy continues during COVID-19 crisis
Renewables energy projects have continued to be approved during the COVID-19 lockdown period, despite fears that governments would abandon climate change and sustainability and rely on tried-and-tested fossil fuels to stimulate their economies.
Asian LNG prices slump once more
The global oversupply of LNG and the destruction of Asian demand owing to the COVID-19 pandemic have sent spot prices spiralling for a second week.
Iran to build up gasoline storage
BP turns over South Caucasus Pipeline rights to Azerbaijan’s Socar as gas-to-EU ambition edges nearer
Oman starts up maiden PE unit
Nigerian President outlines grid deal with Siemens
Nigerian President Muhammadu Buhari has approved his government’s 2019 deal with Siemens to rehabilitate the country’s ailing power grid.
Russian fuel spill declared federal emergency
The Kremlin has declared a spill of diesel fuel at the power plant of Norilsk Nickel metals major in the Krasnoyarsk region as a federal emergency, and heads may start rolling as deep structural ESG dangers are exposed.
Iran ‘signs two-year deal to export electricity to Iraq’ despite 120-day length of US sanctions waiver
EOG, Parsley cautiously bring shale wells back online
As West Texas Intermediate prices stay relatively stable and rise above $36 per barrel, a couple of stronger shale drillers are indicating that they will bring some of the production they shut in back online.
Guyana forging ahead with gas-to-power project
Guyana’s government is reportedly moving forward with plans to use natural gas from the offshore Stabroek block as fuel for domestic electricity production.
Venezuela hikes gasoline prices, alters rules governing fuel sales
Venezuela’s government has made significant changes to regulations governing gasoline pricing and distribution.
Chevron to cut workforce as ExxonMobil resists layoffs
Chevron said on May 27 that it would cut its global workforce of around 45,000 by 10-15% in response to the oil industry downturn.
Suncor’s CEO touts oil sands’ role in energy transition
Suncor’s CEO, Mark Little, has warned that the energy transition could prove as disruptive to oil demand as COVID-19 but has suggested that Canada’s oil sands industry could play a leading role in driving low-carbon growth.
UK sees slump in exploration drilling: Westwood
Occidental cuts dividend by 91%
Occidental Petroleum has slashed its dividend by 91% to just $0.01 per share on May 29 in a bid to preserve cash as it struggles with the impact of the oil price crash.
CIL sees sales fall as it focuses on import substitution
Coal India Ltd's (CIL) sales fell 23.3% year on year in May
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