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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)
Turkish parliament addresses gas hub plan
Turkey’s parliament has approved the first legislative measures needed to create an international gas hub that will be able to market gas to Europe, according to the country’s Minister of Energy Fatih Donmez.
AsianOil: Vietnam’s first LNG terminal sees Korean input
Vietnam’s first LNG terminal sees Korean input
A branch of the Korean Samsung conglomerate, Samsung C&T has won the rights to close out Vietnam’s first ever LNG import terminal. The project, known as the Thi Vai LNG Terminal, is located 25 km to the south-east of Ho Chi Minh.
Samsung Heavy Industries continues to pull in LNG carrier orders
South Korea’s Samsung Heavy Industries (SHI) has won another order for a pair of state-of-the-art LNG carriers for an as yet unconfirmed Asia-Pacific region buyer.
Japan’s JFE wins large-scale terminal deal in Taiwan
A Japanese engineering firm has been awarded a $230mn contract to oversee the planning and construction of a large-scale LNG receiving terminal in the north-west of Taiwan.
Global gas flaring drops 3% in 2022
The global oil and gas industry managed to reduce gas flaring by 3% last year to 139 bcm, from 144 bcm in the previous year, the World Bank reported on March 29 in its new Global Gas Flaring Report (GGFR), despite oil output rising by 5% to 80mn bpd.
Philippines purchases first-ever LNG cargo
The Philippines has bought the first-ever LNG cargo in the country’s history. The delivery will be made in mid-April to the country’s first LNG terminal at Batangas Bay, which is located about 150 km south of Manila.
Japan's purchases of Russian oil exceed G7 price cap
Japan has been purchasing Russian crude oil at a price that exceeds the $60 per barrel price cap set by the G7 nations and Australia earlier this year, according to a recent report in the Wall Street Journal.
Malaysia willing to discuss South China Sea with Beijing
Malaysian Prime Minister Anwar Ibrahim said this week his country is willing to negotiate with China over disputed claims to territory in the South China Sea.
India, Russia adopt Dubai grade for pricing oil trade
Russia’s top oil producer Rosneft and India’s largest oil refiner Indian Oil Corp. have agreed to use the Asia-oriented Dubai oil price benchmark in their latest agreement to ship Russian crude to India.
OPEC+ announces surprise output cut
OPEC and several of its partners in the OPEC+ group made a surprise announcement over the weekend, declaring that they would make a voluntary oil production cut of 1.15mn barrels per day, which will run until the end of the year.
Australian lower house passes emissions reduction plan
Australia’s lower house of Parliament on 27 March passed an emissions reduction plan that would limit the country’s greenhouse gas emissions and thus affect the operations of existing high-carbon producing facilities.
PTTEP yet to receive request to stop sending funds to Myanmar's junta government
The Myanmar government (NUG) had demanded PTTEP suspend payments from gas produced at its Yadana and Zawtika fields offshore Myanmar to state-controlled Myanmar Oil & Gas Enterprise (MOGE) and deposit future revenues into an account held by the NUG.
Brookfield, EIG to acquire Origin for $12.4bn
Brookfield and EIG's MidOcean Energy consortium have agreed to purchase Origin Energy, which operates in the power and LNG markets in Australia. The acquisition is worth AUD18.7bn ($12.4bn) and will pay AUD8.91 ($5.9) per share.
Southeast Asia set for $5bn of M&A action in next two years
Southeast Asia is expected to see significant mergers and acquisitions (M&A) activity in the upstream sector over the next two years, according to research by Rystad Energy, with over $5bn worth of assets available for purchase.
Aramco expands downstream presence in China
Aramco this week announced the investment of billions of dollars as part of its push for downstream growth in China, highlighting the company’s goals to expand in Asia.
Carrier sale in Korea sends ripples through local, foreign LNG industry
South Korea’s premier LNG shipping firm, Hyundai LNG Shipping (HLS), has seen its leading investor put 100% of its stake in the regional carrier powerhouse up for sale.
Gazprom LNG supplies to GAIL India to resume
A one-time subsidiary of Russian energy giant Gazprom is set to resume a long-standing LNG supply contract to GAIL India.
India considers building strategic LNG reserve
India is giving thought to creating a strategic reserve for LNG following serious supply storages and price fluctuations during the Covid pandemic and the war in Ukraine, according to the finance director at Petronet, Vinod Kumar Mishra.
China looks to power more oil and gas operations with renewables
China plans to use renewable energy to power enhanced oil and gas recovery operations at its fields, the country’s National Energy Administration (NEA) reported this week.
Russia fails to clinch new gas supply deal during Putin-Xi talks in Moscow
Chinese President Xi Jinping has made his first trip to Moscow since war broke out in Ukraine. But among the raft of economic agreements that were signed, Russia’s hoped-for contract to supply gas via a new pipeline to China was not among them.
OPEC outlook on China pushed higher, oil bounces back
The Vienna-based Organization of the Petroleum Exporting Countries (OPEC) last week increased its 2023 forecast on demand for oil in Chinese and Chinese territorial markets.
Xi, Putin meeting: “Loud thunder but few raindrops”
Chinese President Xi Jinping took his leave of Russian President Vladimir Putin from a two-day visit to Moscow with a smile on his face. But despite the important show of solidarity, Putin got little in concrete terms from the Chinese leader.
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