Petronas plans clean energy business unit in global shuffle
Malaysia’s national oil company Petronas is setting up a business unit focusing on clean energy solutions as part of a global operational shuffle.
Thailand seeks control of Myanmar gas project after TotalEnergies and Chevron exit
PTT, Thailand’s state-controlled energy company, is bidding to take control of Myanmar’s Yadana gas field after TotalEnergies (LSE:TTE) and Chevron (NYSE:CVX) announced they will exit the country to protest against the junta’s continued violence against civilians since the military coup.
Chevron’s giant Gorgon CCS facility operated at half-capacity in first full year
Chevron’s (NYSE:CVX) flagship carbon capture and storage (CCS) scheme, designed to catch emissions at the Gorgon liquefied natural gas (LNG) project offshore Australia, has operated at just over half its expected capacity in the previous financial year, according to the latest project update.
Oil steadies as US stockpiles drop with focus on Iran progress
Oil was steady in Asian trading after a surprise decline in US crude inventories tightened the market further amid signs of strong demand in the world’s biggest economy.
Biden, Saudi King discussed oil price stability and Yemeni war
President Joe Biden spoke on Wednesday with King Salman of Saudi Arabia about ensuring stable energy prices as well as Mideast security, in light of recent attacks by Yemeni rebels, and the status of talks over Tehran’s nuclear program.
Singapore’s Keppel O&M bags $186 million worth of contracts
Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary Keppel Shipyard Ltd (Keppel Shipyard), has been awarded contracts worth around S$250 million ($186 million) for the conversion of a Floating Storage and Regasification Unit (FSRU), integration of a Floating Production Storage and Offloading (FPSO) vessel, and the enlargement of two Trailing Suction Hopper Dredgers (TSHD).
Inpex set to build giant carbon capture hub in Australia
Japan’s Inpex (TYO:1605) has confirmed it aims to lead an effort to build one of the world’s largest carbon capture and storage (CCS) facilities near Darwin, Australia, as it strives to hit its Net Zero 2050 pledge and decarbonise its business.
Oil edges higher after report points to falling US stockpiles
Oil edged higher after a two-day decline as an industry report pointed to shrinking US crude and gasoline stockpiles.
UAE blames new blast on gas explosion as US warns citizens
The United Arab Emirates said an exploding gas cylinder was responsible for a blast that rocked the capital overnight, as the US issued another warning to its citizens to remain vigilant following a series of attacks on the Gulf country.
Petronas teams up with Mitsui O.S.K. Lines for liquified CO2 shipping
Petronas and global shipping company Mitsui O.S.K. Lines (MOL) will jointly explore opportunities in liquefied carbon dioxide (CO2) transportation for the carbon capture, utilisation and storage (CCUS) value chain in Asia Pacific.
Santos cheers booking of CO2 storage capacity
Santos (ASX:STO) today announced a booking of 100 million tonnes of carbon dioxide (CO2) storage resource in the Cooper Basin in South Australia.
LNG imports will not save Europe if Russia cuts all gas flows
If the disruption to Russian gas deliveries spread beyond flows through Ukraine to include all Russian pipeline exports to Europe, liquefied natural gas (LNG) imports alone would not be able to meet the shortfall and additional supply levers would be required, the latest analysis from IHS Markit shows. Under such an extreme scenario mothballed coal and nuclear power would need to be restarted.
Oil fluctuates as red-hot rally cools after seven weekly gains
Brent oil fluctuated in Asian trading following a run of seven weekly gains that’s pushed crude to the highest level since 2014.
Santos prepares to drill exciting exploration well near Dorado
Australia’s Santos (ASX:STO) will this week start drilling Pavo-1, a highly anticipated exploration well, near its high-quality Dorado field offshore Western Australia.
Indonesia’s Pertamina seeks advisor to help sell down upstream oil and gas assets
Indonesia’s national energy company Pertamina is seeking an advisor to farm-out its upstream assets in the southeast Asian nation. Significantly, the company is seeking to sell down interests in five upstream assets that it operates.
Russia and China strengthen ties with latest gas pipeline deal
Russia and China are strengthening their energy alliance after agreeing another long-term gas pipeline supply deal amid Moscow’s strained relationship with the West over Ukraine and European gas supply issues.
China may need to rebuild its oil stockpiles, says Vitol
Oil prices, already up around 20% this year, could be boosted by China potentially replenishing its inventories and financial investors increasing their long positions, according to Vitol Group.
Japan to ensure its own gas supply before aiding Europe
Japan will make sure its own energy demands are met before aiding Europe with shipments of liquefied natural gas (LNG) in the event conflict erupts over Ukraine, according to the nation’s trade minister.
Shell’s Prelude FLNG to remain shut this quarter
Shell’s giant Prelude floating liquefied natural gas (FLNG) vessel offshore northwest Australia is expected to be out of operation for most of Q1, chief executive Ben Van Beurden told reporters following the company’s quarterly results.
Roaring oil market heads for seventh weekly gain as WTI tops $90
Oil headed for a seventh weekly gain as investors fret over a fast-tightening market, geopolitical tensions and freezing weather in the US.
Chiyoda and Pertamina sign CCUS pact
Japanese engineering company Chiyoda and Indonesian national oil company Pertamina will jointly study the development and application of carbon capture, utilisation and storage (CCUS) technology after signing a memorandum of understanding (MoU).
Exploration continues offshore Indonesia in Natuna Sea despite China protest
Upstream oil and gas exploration activities in the North Natuna Sea will continue despite persistent protests from China, Indonesia’s upstream oil and gas regulator SKK Migas said.
Biden scours globe to send Europe gas if Russia hits Ukraine
The Biden administration and European allies are searching the world for surplus natural gas to send to Europe in the event conflict erupts over Ukraine, including approaching China about its supplies, according to people familiar with the matter.
Oil edges lower as traders digest OPEC+ decision to add barrels
Oil eased from a seven-year high as traders waited to see whether OPEC+ can deliver on its latest promised increase in supply.
Petronas teams up with Shell and JAPEX to pursue CCS in Malaysia
Petronas and Japan Petroleum Exploration (JAPEX) will collaborate on carbon capture and storage (CCS) opportunities in Malaysia as the nation aims to become a CCS hub for Southeast Asia. As part of a separate agreement, Petronas is also exploring and studying CCS solutions with Shell (LSE:RDSA).