Australia’s Woodside and Santos report surging revenues on higher energy prices
High energy prices due to Russia’s invasion of Ukraine have seen revenues surge at Australian oil and gas companies Santos and Woodside.
Pay battle intensifies at Shell’s troubled Prelude FLNG off Australia
Shell (LON:SHEL) said it will lock out workers at its troubled Prelude floating liquefied natural gas (LNG) export project from Monday unless they stop their strike action as the industrial dispute that has disrupted production at the vessel intensifies.
Oil set for longest run of declines this year in boost for Biden
Oil is headed for a third weekly drop, the longest run of declines this year, on concerns over weaker US gasoline demand and a global slowdown.
Russian supply fears intensify Asian demand for winter gas, poses setback for Europe
Asia’s top liquefied natural gas (LNG) importers are accelerating efforts to secure fuel for winter on fears that Russia will curb supply and further tighten the global market. This could pose a further setback for Europe as it tries to manage its energy crisis.
TotalEnergies has “definitively withdrawn” from Myanmar
TotalEnergies said Wednesday that it has “definitively withdrawn” from Myanmar following its announcement in January that it had decided to exit the Yadana field and from gas transportation company MGTC, both as shareholder and as operator, within six months.
TotalEnergies starts upstream FEED studies for Papua LNG
TotalEnergies said it will launch the first phase of front-end engineering and design (FEED) studies for the Papua LNG project's upstream production facilities in Papua New Guinea (PNG).
Oil drops below $100 as traders assess weak US gasoline demand
Oil slipped back below $100 a barrel as investors assessed signs of lacklustre US gasoline demand and expanding stockpiles.
Cheniere mulls bigger boost to Texas LNG exports with China deal
Cheniere Energy, the largest US exporter of liquefied natural gas (LNG), signed a deal with PetroChina that lays that the groundwork for another expansion of Cheniere’s Texas export terminal as global demand for the fuel surges.
Indonesia seeks new exploration investment as 2022 bid round opens
Indonesia, which is seeking to significantly boost oil and gas production this decade, is today launching its first 2022 bid round. Six blocks are up for grabs, offering a range of exploitation, near-field and frontier high-impact opportunities.
CNOOC launches offshore China acreage for bidding
Chain National Offshore Oil Corporation (CNOOC) is offering 13 offshore exploration oil and gas blocks to foreign companies as part of its 2022 bidding round.
Eni offers gas block offshore Indonesia for sale to Harbour as Andaman development eyed
Italy’s Eni (BIT:ENI) is offering to sell its Krueng Mane Block offshore Aceh in Indonesia to London-listed Harbour Energy (LON:HBR), reported Indonesian upstream regulator SKK Migas. Significantly, the potential acquisition seems logical given that Harbour’s recent exploration success could trigger a new development area in the region.
Sembcorp Marine wins deal for major energy company in Australia
Singapore yard Sembcorp Marine will provide engineering, procurement, construction and installation services for a gas topsides project in Australia for an unnamed major energy company. The project is believed to be the Shell-led Crux gas field development offshore Western Australia.
Oil holds above $100 as traders weigh tight market, OPEC+ limits
Oil held above $100 a barrel after posting the biggest one-day advance since May as fears of a fast-tightening market gripped traders.
China’s LNG imports to see unprecedented decline in 2022
China’s LNG imports are set to fall over 14% year-on-year to 69 million tonnes (Mt) in 2022, the largest decline since it started importing LNG, reported Wood Mackenzie.
Bechtel starts construction on Taiwan’s largest LNG storage tanks
US engineering company Bechtel has started construction on a third phase development at CPC’s Taichung LNG import terminal, aimed at delivering two new LNG storage tanks each with 180,000 m3 storage capacity, which will make them the largest in Taiwan.
Norwegian company eyes Asia Pacific CCS with stake in Aussie player
Norway’s PGS will become a major shareholder in Perth-based deepC Store in exchange for PGS providing geological and geophysical advisory services. The pair said they have also agreed to explore broader collaboration opportunities in Asia Pacific for co-developing commercial scale carbon capture and storage (CCS) projects.
Japan aims to keep stakes in Russia’s Sakhalin-2 LNG
Japan plans to maintain its stakes in the Sakhalin-2 natural gas project in Russia’s far east, the Nikkei Asia reported, after President Vladimir Putin signed a decree transferring rights to a new Russian company just over two weeks ago.
Saudis say oil decisions are for OPEC+ as Biden leaves kingdom
Saudi ministers insisted that oil policy decisions would be taken according to market logic and within the OPEC+ coalition, just as US President Joe Biden wrapped up a landmark trip to the kingdom.
DNV working on integrating hydrogen into India pipeline gas network
DNV is providing technical advice and support to Pipeline Infrastructure Limited (PIL) on the integration of blended hydrogen into its gas trunkline assets in India – including transmission pipelines, interconnects and spur lines, compressor, valve, as well as metering stations and equipment.
CIP and Tokyo Land team up for offshore wind in Japan
Copenhagen Infrastructure Partners (CIP) and Tokyo Land Corporation are teaming up to develop the Aomori South offshore wind project in northern Japan.
China’s Cnooc doubles first half profit to $10bn on surge in oil prices
China’s biggest offshore oil driller said it more than doubled first half profits from a year ago amid a surge in oil and gas prices.
Oil set to end volatile week below $100 on slowdown concerns
Oil is poised to end the week below $100 a barrel for the first time since early April after another volatile period of trading marked by escalating concerns over an economic slowdown.
Small-scale floating LNG power solutions set for Papua New Guinea
Twenty20 Energy will roll out its proprietary power island floating storage regasification and power solution at 12 locations across Papua New Guinea (PNG) on behalf of PAWA PNG. The solution will serve as a model for future nearshore power generation plants in coastal regions worldwide, reckons the Singapore-based firm.
India likely to fall short of 2030 renewable target, says GlobalData
India announced new renewable energy goals last year to increase non-fossil power capacity to 500 GW and meet 50% of the country’s electricity needs through renewables by 2030. However, after including large hydro under the definition of renewables, the country is likely to achieve its 2022 target but may miss out on the solar specific target, and subsequently fall short of the 2030 target, says GlobalData, a data and analytics company.
Diver dies offshore Malaysia at Petronas FPSO
A commercial diver has died while performing an adapter mating test on the hull of a floating production storage and offloading (FPSO) vessel offshore Malaysia, according to a HSE report from national oil company Petronas.