Philippine oil and gas drillers tumbled Wednesday after the top court voided the nation’s 2005 deal with China and Vietnam to jointly explore for oil and gas in the South China Sea, less than a week after President Ferdinand Marcos Jr. agreed to revive similar talks with Beijing.
China National Offshore Oil Corp. pledged higher spending this year as Beijing looks to raise production to safeguard energy security and fuel a rebound in economic growth.
One of Australia’s most ambitious renewable energy projects has entered into voluntary administration after shareholders couldn’t come to a consensus on the future direction and funding of the plan to power Singapore using a 4,200-kilometer (2,600-mile) submarine cable.
Japan’s Inpex has announced that it has joined the Rajabasa geothermal project in Indonesia’s Lampung province in the southeast area of Sumatra island.
Baker Hughes will supply carbon dioxide (CO2) compression equipment to Petronas Carigali’s Kasawari offshore carbon capture and storage (CCS) project in Sarawak, Malaysia, after winning a deal with Malaysia Marine and Heavy Engineering (MMHE).
Singapore-listed Interra Resources reported that its joint venture entity, Goldpetrol Joint Operating Company, has started drilling development well CHK 1238 in the Chauk oil field onshore Myanmar.
Conrad Asia Energy has signed Production Sharing Contracts (PSCs) for the Offshore North West Aceh (Meulaboh) and Offshore South West Aceh (Singkil) PSCs offshore northwest and southwest of the Aceh Province of Indonesia.
Malaysia’s Petronas has awarded local engineering company Kejuruteraan Asastera Berhad (KAB) a MYR230 million (US$52.6 million) engineering, procurement, construction, and commissioning (EPCC) contract for a 52MW power plant for an upcoming floating liquefied natural gas (FLNG) project.
The Indonesian government has approved a plan of development for Harbour Energy’s (LON:HBR) Tuna oil and gas project that includes $3.315 billion worth of cost recovery. Significantly, Indonesia sees the development as a way to assert its sovereign rights in a maritime area also claimed by China.
The Taliban-led administration in Afghanistan signed its first international contract last Thursday to extract oil from the northern Amu Darya basin as the beleaguered group seeks to increase revenue.
The government of Indonesia has granted a 20-year extension of the Tangguh production sharing contract (Tangguh PSC) to BP (LON:BP), operator of the PSC, and its Tangguh PSC partners at the LNG export development.
Japan's first large offshore wind project started commercial operations on Thursday as part of the country's efforts to boost wind power generation at sea.
Japan’s JGC and South Korea’s Samsung Heavy Industries will build Petronas’ third floating liquefied natural gas (FLNG) project after winning the engineering, procurement, construction and commissioning (EPCC) contract.
Petronas and its Petroleum Arrangement Contractors (PACs) recorded a total of 10 hydrocarbon discoveries in Malaysia in 2022, following the increase of exploration activities in the country.
The risk to future investment from the Australian Government’s radical intervention in the gas market has been demonstrated, with Senex Energy pausing a A$1 billion (US$674 million) domestic gas supply expansion, involving hundreds of new jobs and millions of dollars of investment in regional communities, according to APPEA.
Posco International is one of the last foreign companies with a significant stake in Myanmar’s oil and gas sector, despite the industry’s ties to a military regime that has been widely condemned for violations of human rights.
Canada’s Criterium Energy has acquired a 42.5% interest in the Bulu production sharing contract (PSC) holding the Lengo gas field offshore Indonesia for $1.6 million. Significantly, the company is seeking more complimentary assets in Southeast Asia.
The Bank of Japan’s latest policy shock will provide some relief to the nation’s energy crisis, helping to cut the cost to procure fuel from overseas.
Woodside Energy has awarded a major contract to Air Liquide Engineering and Construction (Air Liquide) for the liquefaction equipment at its proposed H2OK hydrogen project in Ardmore, Oklahoma, US.
Last month, a satellite flew over the dry, arid landscape of South Australia state’s Cooper Basin and spotted a large cloud of the super potent greenhouse gas methane.
Multi-billion-dollar oil and gas projects remain delayed in Vietnam and undermine the Southeast Asian nation’s ambitions to expand its gas production capabilities as it seeks to move away from coal-fired power.
Australia has only one committed hydrogen project out of a vast pipeline of proposals worth A$266 billion ($178 billion), showing the challenge in becoming a major exporter of the zero-carbon but still unproven fuel.
Hastily assembled legal teams. Accusations of Soviet-era policy. Counter jabs about “Putin profits.” Warnings of a threat to future investment.
Oil demand in China is expected to pick up as the world’s largest crude importer pivots away from its strict Covid Zero policy, although analysts caution that it may take time for gains to kick in.
Vietnam has landed a $15.5 billion partnership with funders led by the European Union and the UK to help finance its transition away from coal.
