AsianOil - Asia Oil & Gas

Russia becomes China’s top oil supplier in 2M23

Russia overtook Saudi Arabia to become China's top crude oil supplier in the first two months of 2023, Reuters reported citing Chinese government customs data and attributing the growth to buyers snapping up sanctioned Russian oil at steep discounts.

Russia top oil supplier to China for January-February

AsianOil: Petronas enjoys profit bump from high prices, increased sales volumes

Shell eyes LNG collaboration with India's GAIL

Jadestone delays Montara restart

Jadestone Energy has had to postpone the restart of production at its Montara project off the coast of Australia, it said this week. The project was closed down in August 2022 after a leak was discovered.

Prime Infrastructure plans new gas wells at Philippines' Malampaya project ahead of IPO

Philippine holding company Prime Infrastructure Capital plans to sink more wells at the country’s sole natural gas project for launch in 2026, and wants to develop other fields to maintain production for longer.

Shell closes Malaysian field stake sales

Shell’s Malaysian unit has wrapped up the sale of stakes in two offshore production-sharing contracts in the country’s Baram Delta to domestic player Petroleum Sarawak Exploration & Production (PSEP), the former reported this week.

Indian Oil Corporation to take over Mumbai’s Mercator Petroleum

Mumbai-based Mercator Petroleum saw a vote put to its lenders last week given unanimous approval, with the result being the one-time household name, in all but name only, being taken over by the state-owned energy giant Indian Oil Corporation.

India-Bangladesh oil pipeline set to open for business

A much-needed and long-awaited cross-border oil pipeline linking India and its eastern neighbour Bangladesh will finally be switched on as of March 18.

Osaka Gas to purchase more LNG than usual in upcoming fiscal year

Japan’s Osaka Gas will buy more LNG than usual in the financial year beginning in April as it seeks to guarantee a stable supply of the super-chilled fuel as experts predict global supply will remain tight.

Petronas enjoys profit bump from high prices, increased sales volumes

Malaysia’s Petronas reported on March 13 a 55% climb in profits for the first quarter on the back of higher prices and increased sales volumes.

Building commences on Shaheen project

A ceremony was held last week in Ulsan, South Korea, to mark the start of work on the $7bn Shaheen integrated petrochemical plant located in Onsan Industrial Complex.

Indonesia sets rules for CCS/CCUS in pursuit of lower emissions, increased output

Indonesia’s Ministry of Energy and Mineral Resources announced on March 10 that it had established the regulations for the implementation of carbon capture and storage projects as well as those for carbon capture, utilisation and storage (CCUS).

Work begins on Shaheen refinery in South Korea

South Korean refinery and petrochemical producer S-Oil began construction on its new Shaheen (Arabic for Falcon) petrochemical facility on 9 March at the Onsan Industrial Complex in Ulsan city.

Qilak LNG plans $5bn LNG facility in Alaska

Qilak LNG has revealed it is seeking to build a 4mn tonne per year LNG export terminal in Alaska’s North Slope to be completed by the end of the decade.

India reportedly complies with Western price cap on Russian oil

India’s government has instructed the country’s banks and traders to comply with Western sanctions on Russia, as the US, the EU and its allies work to get greater international backing for the measures to boost their effectiveness.

AsianOil: Malaysian MP moots Petronas IPO

E-methane tie-up to help secure Australia-Japan energy ties

Australian oil and gas firm Santos has agreed to produce carbon-free e-methane gas using green hydrogen in conjunction with a team from Osaka Gas Australia (OGA).

Awkward embrace as Iran and Saudi Arabia seal deal on restoring relations brokered by China

Agreement could have implications on reviving nuclear deal and could even help build ties between Moscow, Beijing, Tehran and Riyadh.

Japan’s January oil imports highlight dominance of GCC nations

While Japan is heavily reliant on the Middle Eastern for crude oil imports, many were surprised to see that almost 95% of all crude oil imports ordered by Tokyo in January arrived from Arab nations.

TotalEnergies pushes on with Papua LNG FEED

TotalEnergies has announced that it will develop the Papua LNG project using four electrical trains, while moving ahead with front-end engineering and design to sell down a stake in the project to JX Nippon.

Malaysian MP moots Petronas IPO

An MP from Subang has recently proposed the idea of a Petronas initial public offering, which could potentially raise a significant amount of capital to pay down government debt and invest in business expansion.

ONGC, TotalEnergies sign offshore deal

India’s state-owned Oil and Natural Gas Corp. (ONGC) has signed a memorandum of understanding with France’s TotalEnergies for the exploration of deepwater blocks off the Indian coast.

Korean shipping giant wins large-scale LNG carrier contract

It was revealed earlier in the month that South Korean shipping giant Korea Shipbuilding & Offshore Engineering (KSOE) had been awarded a large-scale shipbuilding contract by an as yet anonymous US ship owner-operator for a trio of LNG carriers.

Papua LNG project moves ahead to next stage

The Papua LNG project, Papua New Guinea’s second gas project moved ahead to its next stage with a fully integrated front-end engineering and design launched on March 7 by its joint venture partners Santos, TotalEnergies and ExxonMobil.