AsianOil - Asia Oil & Gas

Pakistan sees decline in crude oil and gas in 9MFY25

Pakistan witnessed a notable decline in domestic crude oil and natural gas production during the first nine months (July–March) of fiscal year 2025

Japan said to buy first Russian Sakhalin oil since invasion

The Japanese oil refiner Taiyo Oil bought Russian crude oil on a tanker that’s blacklisted by both the US Treasury and the European Union.

US-China trade optimism pushes oil prices higher

China ceased all imports of US crude in March but continues to source from elsewhere; a far cry from the heady days of 2020 when Beijing was importing 481,000 barrels per day of American oil.

Japan refinery setbacks highlight crude demand and supply vulnerabilities

Japan’s largest oil refiner, Eneos Corporation, has reported an unplanned shutdown at its 77,000 barrel per day No.3 crude distillation unit – part of the sprawling Kawasaki refinery located south of Tokyo.

Indonesia expands cross-border corruption probe as Pertamina case reaches Singapore

Indonesia’s Attorney General’s Office (AGO) has deployed investigators to Singapore in a major escalation of its probe into a multibillion-dollar corruption scandal involving state energy giant PT Pertamina and affiliated oil and gas contractors

Bangladesh seeks additional LNG cargoes, investment from Qatar to boost energy security push

Bangladesh is intensifying efforts to bolster its energy security, requesting additional LNG cargoes and infrastructure investment from Qatar during Chief Adviser Professor Muhammad Yunus’ recent visit to Doha.

Indian Gas Exchange reports 5% decline in May trade volumes

The Indian Gas Exchange (IGX) reported a 5% year-on-year decline in traded volumes for May 2025, with total transactions amounting to 118mn metric standard cubic metres (mmscm).

Asian LNG spot market prices dip amid weak demand and high inventories

Prices on the Asian LNG spot market slid for the first time in five weeks.

Petronas to cut workforce by 10% amid crude price decline and budget pressures

Malaysia’s state-owned oil and gas firm, Petroliam Nasional Bhd (Petronas), is set to reduce its workforce by approximately 10% as part of a broad internal restructuring aimed at mitigating the impact of falling global crude oil prices

India’s crude oil imports from top OPEC+ suppliers surge

India’s crude oil imports from its four leading suppliers—Saudi Arabia, Russia, Iraq, and the UAE—rose sharply in May as these OPEC+ members increased output

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.