AsianOil Top Story archive

25 May 2016, Week 20 Issue 526

Petronas’ first-quarter net profit sank 60% year on year to 4.6 billion ringgit (US$1.12 billion) on weaker downstream revenues and lower LNG output.

18 May 2016, Week 19 Issue 525

Engie is reportedly lining up the sale of its upstream assets in Indonesia and Malaysia as a single package for up to US$500 million.

11 May 2016, Week 18 Issue 524

Australia-based AWE has agreed to sell its 42.5% stake in the Bulu production-sharing contract (PSC) in Indonesia to a wholly owned subsidiary of HyOil for up to A$27.5 million (US$20.3 million)...

04 May 2016, Week 17 Issue 523

South Korean petrochemical company LG Chem has asked Seoul for help retrieving US$21 million it says it was tricked into transferring into a fake bank account. LG Chem has said that it was under...

20 April 2016, Week 16 Issue 522

International service provider Bumi Armada has demanded US$283.5 million in damages from Australia’s Woodside Petroleum in a legal battle over a cancelled floating production, storage and...

20 April 2016, Week 15, Issue 521

Cue Energy Resources has been given extra time to drill a well on a block off the coast of Western Australia as it continues the hunt for a farm-in partner to cover exploration expenses.

13 April 2016, Week 14, Issue 520

Indonesia managed to ramp up crude output in the first quarter of the year on the back of higher yields from its flagship Banyu Urip oilfield.

06 April 2016, Week 13, Issue 519

The Australian arm of global aluminium giant Alcoa has announced the sale of its 20% stake in the Dampier to Bunbury gas pipeline (DBP) to energy infrastructure owner Duet Group.

30 March 2016, Week 12, Issue 518

Bharat Petroleum Corporation Ltd (BPCL), India’s second biggest state-run refiner, intends to spend about 100 rupees billion (US$1.5 billion) in 2016-17 to expand and upgrade its refining capacity...

23 March 2016, Week 11, Issue 517

Indian state-run companies have agreed to jointly take a stake in two licences at the Siberian field of Srednebotuobinskoye, which is controlled by Rosneft subsidiary Tass-Yuriakh Neftegazodobycha...

16 March 2016, Week 10, Issue 516

South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) intends to axe more than a quarter of its workforce after posting record losses last year.

09 March 2016, Week 09, Issue 515

Shares in Bumi Armada plunged last week after the Malaysian vessel owner announced that Woodside Petroleum had unexpectedly cancelled a charter for a floating production storage and offloading (...

02 March 2016, Week 08, Issue 514

Low oil prices took their toll on KrisEnergy’s earnings in 2015, with the Singapore-based company reporting a net loss of US$49 million, largely because of asset write-downs. This compared with a...

24 February 2016, Week 07 Issue 513

Rig builders across Asia have seen their sales nosedive over the past 18 months as a roughly 70% slide in oil prices takes its toll on the entire energy value chain. Yards in Singapore and South...

17 February 2016, Week 06 Issue 512

India’s state-run Oil and Natural Gas Corp (ONGC) reported a 64% year on year drop in its net profit for last quarter of 2015, its second straight quarterly decline, both directly a result of the...