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AsianOil’s coverage ranges from established oil and gas producers such as Australia, Indonesia, Malaysia, Thailand and Vietnam to the region’s major refining hubs of India, Singapore, South Korea and Japan and countries in between.
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McDermott wins refinery work in northern Australia
McDermott International has signed an agreement with Darwin Clean Fuels to provide engineering services for a proposed condensate refinery in northern Australia.
South Korea’s oil and gas demand declines
South Korea’s oil and gas demand is in decline, with the country re-embracing nuclear and coal in the power sector while introducing policy measures curbing demand for transportation fuels.
Sarawak to sue Petronas over unpaid tax bill
Malaysia’s Sarawak State government is preparing to take national oil company (NOC) Petronas to court over an unpaid tax bill.
Thai power producers to develop Vietnamese LNG projects
Thai power producers B.Grimm Power and Gulf Energy Development have signed agreements with Vietnam to develop liquefied natural gas fuelled power projects in the South-East Asian country.
Indian bid round attracts eight bids
India’s fourth Open Acreage Licensing Policy (OALP) exploration bid round has attracted eight bids for the seven blocks that were offered.
IOC advances plastics-oil conversion research
State-run refiner Indian Oil Corp. (IOC) has reportedly completed the first phase of research into converting waste plastics into synthetic oil and is now planning to develop commercial processes.
Queensland awards new exploration acreage
The Queensland State government has awarded 3,450 square km of new exploration acreage to six companies, with two of parcels ringfenced for the domestic market.
PetroChina sets production targets for Changqing field
A unit of state-run PetroChina aims to produce 25mn tonnes per year (500,000 barrels per day) of oil and 42bn cubic metres of natural gas from the Changqing field by 2020, Reuters cited local media reports from October 28 as saying.
Turkmenistan to extend Petronas’ PSC for Block 1
Malaysian Prime Minister Mahathir Mohamad has said Turkmenistan will extend state-owned Petronas’ production-sharing contract (PSC) for offshore Block 1 in the Caspian Sea by 10 years until 2038.
KrisEnergy to sell stake in Indonesian deepwater PSC
Singapore’s financially troubled KrisEnergy has agreed to sell its 30% stake in the Andaman II production-sharing contract (PSC) in Indonesia’s Malacca Strait to an undisclosed international major.
BPCL privatisation draws fire
The Indian government’s plan to privatise its 53.29% stake in Bharat Petroleum Corporation Ltd (BPCL) has attracted opposition from both state-level lawmakers as well as company unions.
Chinese gas demand to soar in long term
Chinese natural gas demand is projected to slow this year amid a weakening economy and a government decision in 2018 to rein in its campaign to convert coal-fired heating systems to the cleaner burning fuel.
Aramco further extends Cilacap refinery talks
Philippines split over South China Sea deal with China
The Philippine government’s struggle to present a unified front over a possible exploration partnership with China in disputed waters of the South China Sea continued this week.
Sempra, Mitsui sign MoU on LNG
Sempra Energy has entered into a memorandum of understanding with Japan’s Mitsui & Co. that covers the latter's participation in two LNG project expansions.
Japanese push to establish bunkering hub underway
Japan is making strides in its efforts to position itself as a new LNG bunkering hub as the shipping industry prepares for new fuel regulations.
Philippines, Russia discuss South China Sea exploration
The Philippine government last week welcomed a delegation sent by Russia’s state-run Rosneft to discuss the possibility of jointly exploring the waters offshore the Southeast Asian country.
PTT plans first Myanmar retail fuel station
Thailand’s state-owned PTT has announced plans to open its first retail fuel station in Myanmar and aims to do so early next year.
Oil Search’s Q3 revenue slides 24%
Oil Search’s third-quarter revenue slid 24% year on year on the back of production interruptions and lower international oil prices.
BPCL stake sale draws international interest
Some of the world’s biggest oil companies are reportedly interested in the Indian government’s plans to privatise its controlling stake in Bharat Petroleum Corporation Ltd (BPCL).
Origin under pressure over emissions
Activist investors have criticised Australian developer Origin Energy’s commitment to reducing its carbon footprint, saying the company is not doing enough to reduce this.
Chinese run rates set new high on expanding capacity
China’s downstream has set a new monthly oil processing record, on the back of rising privately owned refining capacity and expanding crude import quotas.
Woodside delays Browse FID, brings forward Pluto LNG expansion
Australia’s Woodside Energy has delayed a final investment decision on its proposed Browse mega-project to the second half of 2021, but has also brought plans to approve its Scarborough gas project and Pluto LNG expansion forward.
Philippines studies SPR options
The Philippine government has begun examining development options for a strategic petroleum reserve (SPR), following last month’s attacks on key Saudi Arabian oil infrastructure.
Barakah terminates rescue deal with Lecca
Malaysian offshore service provider Barakah Offshore Petroleum has agreed with Singapore’s Lecca Group to terminate a deal that would have lifted the former out of exit Practice Note 17 (PN17) status.
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