Indonesia’s national energy company Pertamina plans to spend up to $11 billion over 2022-2026 to help develop its renewables business as the company seeks to accelerate the energy transition.
Traditional landowners in Australia’s Northern Territory have launched legal action against South Korea’s export credit agencies in an attempt to block funding for the Santos-led $3.6 billion Barossa gas project, which will backfill the Darwin liquefied natural gas (LNG) export plant.
Petronas has signed a memorandum of understanding with Schlumberger to jointly explore opportunities in the areas of sustainability, digital and Internet of Things (IoT) technologies, as well as research and development projects.
Harbour Energy (LON:HBR) is on track to start high impact exploration drilling in its Andaman II PSC offshore Indonesia in the second quarter this year. The news adds to the excitement in Indonesia as other companies, including BP (LON:BP), look set to probe the archipelago’s deep waters, following recent fiscal and regulatory enhancements.
US engineering giant McDermott has delivered the first ever pipe-in-pipe flowline for production in India as part of Oil & Natural Gas Corporation’s (ONGC)'s KG-DWN 98/2 project in the Krishna Godavari (KG) basin off India’s eastern coast. Significantly, the development is the largest and one of the most complex subsea projects in Asia Pacific, involving major subsea infrastructure installation in ultra-deepwater.
European energy prices surged after President Vladimir Putin said Russia will demand payments in rubles from natural gas buyers it deems “unfriendly.”
Malaysia's Petronas has signed production sharing contracts (PSCs) for five offshore exploration blocks, namely SB412, 2W, and X located off the coast of Sabah, and SK439/SK440 situated off the coast of Sarawak. Significantly, Shell has signed up for ultra-deepwater exploration acreage.
China imported twice as much liquefied natural gas (LNG) from Russia last month than a year earlier, despite weakened appetite for spot purchases because of high prices.
An energy company backed by Indonesian tycoon Sukanto Tanoto plans to spend $500 million this year on a long-planned liquefied natural gas (LNG) project in Canada, the clearest signal yet that it may move ahead with an LNG export facility on the country’s west coast.
The Pavo-1 exploration well near the Dorado field offshore Western Australia in the Bedout sub-basin has made a “significant oil discovery” that has an estimated breakeven cost at less than $10 per barrel, operator Santos (ASX:STO) said today.
The outlook for liquefied natural gas (LNG) production in Asia has taken a positive turn following Mubadala Petroleum starting first gas flows from Pegaga to the Petronas-led Bintulu LNG export complex in Malaysia.
Australia’s offshore regulator has given approval for Shell (LON:SHEL) to restart its Prelude floating liquefied natural gas (FLNG) facility after the unit was forced to shut down last December due to a fire onboard following a power outage. Significantly, this will help ease the pressure on the tight regional market for liquefied natural gas (LNG).
The world’s three biggest oilfield service providers are halting future work in Russia in response to President Vladimir Putin’s invasion of Ukraine, announcing their decisions separately and within 24 hours of each other.
China and Russia’s trade relationship has become more complicated since the war started more than three weeks ago, raising questions about the future flow of energy between the two powerhouses.
Malaysia’s Petronas will explore the North Ketapang Block after winning the shallow-water acreage onshore and offshore East Java in Indonesia’s Petroleum Bid Round 2021.
BP (LON:BP) will carry out deepwater oil and gas exploration offshore Indonesia after winning the rights to the Agung I and Agung II blocks as part of the nation’s second bid round last year. The move offers a glimmer of hope for Indonesia’s struggling upstream sector that has seen big international firms, such as ConocoPhillips, exit recently.
Australia’s Woodside (ASX:WPL) and US-based technology developers ReCarbon and LanzaTech have launched a collaborative studies campaign aimed at converting carbon emissions into useful products.
Japan's Mitsubishi is confident that the three offshore wind projects it won last year in auctions will be profitable despite the low feed-in tariff prices it bid, the head of its energy solutions unit told Reuters.
ExxonMobil (NYSE:XOM) has taken a final investment decision (FID) to spend A$400 million ($295 million) on developing additional gas from the Gippsland basin Kipper field offshore Australia. Significantly, the country’s main industry lobby group said there is a massive opportunity for Australia to have more big investment decisions like this – but crucially the policy settings have got to be right.
Samsung C&T will partner with Vietnamese construction company Lilama to build what could be Vietnam's first gas-fired power facilities to be fuelled by liquefied natural gas (LNG) as the country works to transition away from coal.
Activists are calling for better geothermal safety after a fatal accident at a geothermal power plant in Indonesia.
TotalEnergies, which on 21 January announced a rapid withdrawal from Myanmar because the situation in the country no longer allowed the French company to make a “sufficiently positive contribution”, said its exit will be “responsible.”
Sunda Gas is busy completing various studies that could lead to the commercial development of the shallow-water Chuditch gas discovery offshore East Timor with a potential floating liquefied natural gas (LNG) development under consideration.
Plucky explorer Timor Resources has encountered “hydrocarbon shows of significance” while drilling its second well onshore East Timor as the company considers an initial public offering (IPO) to raise more funds in its quest to unlock the nation’s petroleum potential. Significantly, there are no firm figures for the hydrocarbon shows yet, but plenty of hope.
Oil’s retreat took a breather after giving up most of the gains following Russia’s invasion of Ukraine, with attention turning to the prospect of reduced demand due to a Covid-19 resurgence in China.
