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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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Read a recent issue cover to cover (click the image below)
LNG futures trade volumes rise in 2023, reach record level in fourth quarter
The volume of LNG futures trades on financial exchanges climbed by more than 12% in 2023 compared to 2022 according to data from exchanges and brokers.
India's GAIL and Vitol Asia sign 1mn tonnes per year LNG supply contract
India's state gas company GAIL and commodity trader Vitol Asia have inked a long-term LNG deal spanning approximately 1mn tonnes per year for a tenure of about 10 years
India eyes strategic gas storage reserve
The Indian government is considering the establishment of a strategic gas reserve to address the volatility in natural gas prices and reduce dependence on imports
Record LNG imports in Asia as prices drop, China leads surge
In an unprecedented development, Asia's imports of LNG soared to a historical peak in December
Iranian commerce chief dismisses crude sales disruption to China
The head of the Iran-China Joint Chamber of Commerce rejected as “fabrication” a media report that Tehran had withheld oil exports to Beijing, demanding higher prices for the discounted supply from its top client.
Russian November oil price for India hit 12-month high
In November 2023, India paid an average of $85.42 per barrel for Russian oil, marking the highest figure since the Group of Seven advanced economies enforced a price cap of $60 per barrel
Costly LNG, slow progress threaten Vietnam's gas power ambitions
Vietnam's ambitious plans to increase its dependence on LNG for power generation are facing significant challenges, raising concerns about achieving the set targets
China regains top LNG importer position in 2023
China has regained top position as the world’s largest importer of LNG in 2023. Shipments of the super-chilled fuel climbed 12% last year to reach close to 71mn tonnes.
India’s GAIL to purchase LNG from Vitol under 10-year deal
India’s state-run natural gas company GAIL signed a 10-year LNG purchase deal with Swiss-based commodities trader Vitol on January 5. The deal will see GAIL buy about 1mn tonnes per year of the super-cooled gas, beginning in 2026.
Iranian oil flow to China halted over price row
Iran’s oil trade with China has stalled as Tehran withholds shipments and demands higher prices from its top customer, refinery and trade sources said.
Indonesia seeks new partner to replace Russian firm Zarubezhneft for Tuna Block’s gas project
Indonesia aims to replace sanctioned Russian firm Zarubezhneft in the gas-rich Tuna Block this year
Indonesia’s Upstream Oil and Gas Regulatory Task Force and Premier Oil Andaman launch Gayo-1 well drilling
The Upstream Oil and Gas Regulatory Task Force in collaboration with Premier Oil Andaman Ltd, commenced drilling activities for the Gayo-1 well exploration in the Andaman II Working Area
SPRC completes acquisition of Caltex's Thai fuel marketing business
Star Petroleum Refining Public Company Limited announced on January 3, 2024 that it had completed the acquisition of Chevron Asia Pacific Holdings Limited's fuel marketing business in Thailand
‘No payment problem’: Hardeep Singh Puri on declining oil imports from Russia
India's decrease in oil imports from Russia is primarily a result of unappealing prices rather than any payment issues
Indonesia’s Ministry evaluates Trans Kalimantan gas pipeline project amidst supply and demand uncertainties
The Ministry of Energy and Mineral Resources is currently in the process of evaluating the continuation of the Trans Kalimantan gas transmission pipeline project
Russia’s Gazprom sets gas supply record to China through Power of Siberia pipeline
Although the company did not provide a specific figure for the record, it announced that gas exports to China through the pipeline had surged to 22.7bn cubic metres in 2023.
Global shipping's chokepoints
With more and more shipping companies extending full or partial closures of Red Sea shipping routes due to attacks by Yemeni rebels, global trade could be seriously affected, reports Statista.
OILTEK international subsidiary secures $2.1mn contracts in Malaysia and South Korea
OILTEK International's subsidiary has successfully clinched new contracts totalling $2.1mn from Malaysia and South Korea
Windfall tax on crude oil sees sharp increase; ATF, diesel relaxed
The government of India has significantly raised the windfall tax on crude oil
Pertamina Hulu Rokan unveils oil and gas reserves in Rokan Block
PT Pertamina Hulu Rokan has recently disclosed the discovery of potential oil and gas reserves within the existing field of the Rokan Block in Rokan Hulu Regency, Riau Province
Inpex Masela's Abadi LNG project advances with trustee borrowing financing scheme
Inpex Masela Ltd. is planning to leverage a trustee borrowing scheme as a crucial element of the financing strategy for the Abadi LNG project in the Masela Block
Venezuelan oil alters dynamics in Asian markets as US sanctions ease
In the aftermath of the recent easing of US sanctions on Venezuela, a fleet of supertankers carrying Venezuelan fuel is poised to impact the dynamics of Asian energy markets.
Pertamina explores two new wells in West Java
State-owned oil and gas company PT Pertamina has achieved a series of contributions, especially in the upstream sector
ExxonMobil Cepu Ltd to monetise gas by-products in response to oil production decline
ExxonMobil Cepu Ltd is addressing the recent decline in oil production at the Banyu Urip Field within the Cepu Block by focusing on monetising gas by-products
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