Sinopec posts record first-half profits on rising oil prices
Sinopec posted record first-half profits as higher global oil and gas prices outweighed a mixed market for fuel in China.
Japan Wind Energy 2022
Japan Wind Energy 2022 Premium Wind Power Business Platform in Japan
Harbour Energy sounds word of caution at Timpan discovery in Indonesia
UK-listed Harbour Energy (LON:HBR) has cautioned that “permeability was on the low side of expectations” at its play-opening deepwater Timpan-1 exploration well offshore Indonesia in the North Sumatra basin.
The Australian energy crisis highlights need for new gas supply
Australian east coast energy prices skyrocketed earlier this year as a winter cold snap sent gas, coal, and electricity to record-highs, triggering price caps at A$40/Gigajoule (US$27/Million British Thermal Units), around 400% above the normal A$8-10/GJ price range.
PetroChina’s profits climb to record on global energy rally
PetroChina posted its best-ever first-half earnings as the nation’s top oil and gas driller benefited from soaring global energy prices, and said that government stimulus is starting to lift Chinese oil demand.
China’s Cnooc more than doubles profits on higher oil prices
Cnooc Ltd more than doubled its first half profits from a year ago as China’s biggest offshore driller benefited from sky-high oil and gas prices.
Japan’s Mitsubishi primed to join new Sakhalin-2 LNG Russian operator
Japan’s Mitsubishi Corporation is set to issue a notice that it will join the new operating company for the Sakhalin-2 LNG export complex in the Russian Far East, reported Nikkei Asia.
ExxonMobil denies Indonesia exit plans
ExxonMobil (NYSE:XOM) has denied rumours about the US major seeking to divest its Indonesia assets.
Keppel confirms fatality after crane collapse at Singapore yard
Keppel Shipyard today confirmed the death of a worker who fell into the sea after a crane collapsed at its Tuas yard in Singapore on Monday. It is the third fatality at the yard this year.
Australia officially awards offshore CCS acreage, more to come
Minister for Resources and Northern Australia, Madeleine King, said greenhouse gas (GHG) storage permits have been awarded to two areas offshore the Northern Territory and Western Australia. Three more permits are expected to be awarded later this year.
Woodside starts construction of Pluto LNG Train 2
The Deputy Premier of Western Australia (WA), the Hon. Roger Cook MLA, officially launched construction of Woodside Energy’s Pluto LNG Train 2 project today at a ceremony in Karratha, WA.
Rumours swirl of ExxonMobil Indonesia exit
Rumours have surfaced again about ExxonMobil (NYSE:XOM) potentially seeking to divest its Indonesia assets. ExxonMobil operates the giant Cepu Block, which is Indonesia’s largest producing oil project.
Shell weighs Australia wind expansion amid clean energy push
European oil major Shell is looking at expanding its wind-power business in Australia as it eyes options offshore and diversifies away from fossil fuels. Significantly, Australia’s offshore wind sector remains at a nascent stage of development.
Inpex and TotalEnergies win acreage for key CCS hub offshore Australia
Japan’s Inpex (TYO:1605) and partner TotalEnergies (LON:TTE) have won a key greenhouse gas storage (GHG) permit offshore Australia that could help a plan to bury emissions from liquefied natural gas (LNG) export projects in northern Australia.
$1.3bn price tag for CCS at Inpex and Shell’s Masela project
The cost to add carbon capture and storage (CCS) to the proposed Abadi liquefied natural gas (LNG) project in the Masela Block offshore Indonesia that is owned by Japan’s Inpex (TYO:1605) and Shell (LON:SHEL) is expected to cost over $1 billion.
TotalEnergies hands Clough and Technip Energies upstream FEED deal for Papua LNG
A consortium of Technip Energies and Clough will provide front-end engineering and design (FEED) services for the upstream facilities at the TotalEnergies-led Papua LNG project in Papua New Guinea.
Indonesia grumbles over Chevron IDD divestment process
Indonesian upstream regulator SKK Migas appears to be getting frustrated over the slow divestment process for Chevron’s (NYSE:CVX) share in the giant Indonesia Deepwater Development (IDD).
Poorer nations face unrest as wealthy countries snap up fuel
Russia’s war in Ukraine has Europe bracing for a tough winter, but the costs are piling up higher in emerging nations as governments struggle to keep energy flowing to citizens hit by surging inflation.
ExxonMobil teams up with India’s ONGC for deepwater exploration
ExxonMobil (NYSE:XOM) and India’s Oil & Natural Gas Corporation (ONGC) have signed a heads of agreement covering deepwater exploration off the east and west coasts of India. The news bodes well for ONGC, which recently pledged to boost exploration investment by 150% to $4 billion.
Unaffordable LNG prices undermine rapid demand growth forecasts in key Asia markets
Sustained high prices may accelerate downward pressures on Asian liquefied natural gas (LNG) demand, clouding long-term industry outlooks.
Japan offers loan to Indonesia to buy Shell’s Masela LNG stake
Japan has reportedly offered to give Indonesia a loan to buy Shell’s (LON:SHEL) 35% equity in the proposed Abadi liquefied natural gas (LNG) project in the Masela Block offshore Indonesia that is led by Japan’s Inpex (TYO:1605). The move is aimed at kickstarting the long delayed development.
Santos delays Dorado FID as inflation risk bites
Santos (ASX:STO) has put on hold plans for a final investment decision (FID) at its Dorado oil project offshore Western Australia as spiralling costs related to the construction of a floating production storage and offloading (FPSO) unit pose too much risk.
BP seeks FEED contractor for CCS project at Tangguh LNG
BP (LON:BP) has opened a pre-qualification tender for the provision of onshore front-end engineering and design (FEED) services for a carbon capture and storage (CCS) project at its Tangguh liquefied natural gas (LNG) complex in Indonesia.
Japan’s JERA to buy 35% share in Vietnam renewable energy firm for $112m
Japan's biggest power generator JERA said on Tuesday it will spend about 15 billion yen ($112 million) to buy a 35.1% share in Vietnamese renewable energy company Gia Lai Electricity JSC (GEC) to expand its overseas business.
Offshore wind player Orsted eyes Taiwan Straits crisis after China fires missiles
Danish offshore wind developer Orsted (CPH:ORSTED) is at risk of getting caught up in a potential Taiwan Straits crisis as tensions in the region rose steeply following the visit of US House of Representatives Speaker, Nancy Pelosi, to Taipei, on 2-3 August.