The Philippines' energy ministry yesterday defended the sale of the Malampaya gas project - formerly controlled by a Shell (AMS:RDSA) and Chevron (NYSE:CVX) joint venture - to a company run by an ally of President Rodrigo Duterte, dismissing a graft complaint.
India plans to take more ambitious climate action by 2030, even as the nation pushes back against pressure to set a target for net-zero greenhouse gas emissions.
Plunging temperatures across parts of China have sparked an early start to the winter heating season, likely lifting power demand and intensifying the nation’s energy crisis.
Malaysia’s state-owned energy company Petronas is planning to build a third multi-billion dollar floating liquefied natural gas (FLNG) unit to help solve challenges commercialising gas offshore Sabah in Malaysia as part of an effort to appease ConocoPhillips (NYSE:COP) and Shell (AMS:RDSA) following losses related to an upstream development.
Australian east coast gas producer Senex Energy (AX:SXY) said today that it had received a $605 million takeover offer from POSCO International (KS:047050) and has embarked on an exclusive period of due diligence with the South Korean trader.
Australian liquefied natural gas (LNG) developer Woodside (ASX:WPL) is collaborating with US-based Heliogen, a provider of AI-enabled concentrated solar energy, to build a 5 MW commercial-scale demonstration facility in California.
Korean firm Samin MTS is teaming up with Pertamina offshoot Elnusa (IDX:ELSA) to tap Indonesia’s giant offshore decommissioning wave.
JGC (TYO:1963) said today that it has reached a settlement with Inpex (TYO:1605) regarding the lawsuit that Inpex filed against joint venture company JKC, which consists of KBR (NYSE:KBR), Chiyoda (TYO:6366) and JGC, relating to the construction of the giant Ichthys liquefied natural gas (LNG) export project in northern Australia.
France’s EDF Renewables (EPA:EDF) has made a significant investment in VinaCapital’s SkyX Solar, a rooftop solar power developer in Vietnam as the market continues to boom.
Technip Energies (PARIS:TE) has been awarded an engineering, procurement, construction and commissioning contract by NTPC for its Proton Exchange Membrane (PEM) Based Hydrogen Generation Plant project at Vindhyachal, Madhya Pradesh, India.
Investment research firm Bernstein has named Australian liquefied natural gas (LNG) developer Woodside (ASX:WPL) as its “best idea” for the fourth quarter 2021 as prices surge and the Asian market tightens. Significantly, Woodside is one of the most exposed LNG suppliers to the spot market.
French power company EDF Group (EPA:EDF) has signed a memorandum of understanding with Singapore government-owned utilities company SP Group to jointly develop a subsea transmission cable to enable renewable energy imports from Indonesia to Singapore.
China’s energy crunch pulled in more coal and gas imports in September, as buyers scrambled to ensure adequate supplies to counter a deepening power shortage ahead of peak winter demand.
UK-based Aquadrill – formerly Seadrill Partners – reported that its Capella drillship will head to Indonesia’s Andaman area to carry out a deep-water drilling programme for Harbour Energy (LON:HBR) and Repsol (BME:REP).
ExxonMobil (NYSE:XOM), which set up a low-carbon solutions division in February, is focusing on building a carbon capture and storage (CCS) business in Asia. Significantly, ExxonMobil believes there is over 300 billion tonnes of storage capacity in Southeast Asia alone, Tracy Lothian, vice president marketing, finance & commercial development, low carbon solutions, at the US giant, said today.
News that Cheniere (NYSE:LNG) signed a long-term liquefied natural gas (LNG) supply contract with China’s ENN Natural Gas (CH:600803) earlier this week marked the first major US-China deal since 2018. Over the past three years, new LNG deals between the two great powers were put on ice as rising political tensions under the Trump administration thwarted trade.
Vietnam has won a key deal to build two substations for the Hai Long offshore wind project in Taiwan. The contract award, announced today, marks the largest offshore substation deal for a Taiwanese project to date, and the first in Vietnam.
Japan's biggest refiner, Eneos Holdings (TYO:5020), said yesterday it would buy Japan Renewable Energy (JRE) for about 200 billion yen ($1.8 billion) to expand its low-carbon business. Significantly, the move marks the first major acquisition of a big renewable energy firm by an established Japanese oil wholesaler.
The prospects for Indonesia’s Saka Energi appear to have improved based on the latest analysis from Moody’s Investors Service, which revised the troubled upstream player’s outlook from negative to stable.
Estimates from OilX show China’s crude oil imports fell 8.6% month-on-month to average 9.62 million barrels per day (b/d) in September. This would imply a year-on-year fall of 18.7%, or 2.2 million b/d, the latest data from the analytics firm showed.
US-based Cheniere Energy (NYSE:LNG) will supply 0.9 million tonnes per year of liquefied natural gas (LNG) to China for 13 years starting in July 2022 after signing a deal with ENN Natural Gas (SHA:600803).
Production and reserves at ExxonMobil’s (NYSE:XOM) giant Cepu Block - rumoured to be a divestment candidate - have exceeded expectations, reported Indonesian upstream regulator SKK Migas.
The government of Papua New Guinea (PNG) is pushing for a bigger shareholding of the ExxonMobil-led PNG LNG export project. The latest move was triggered by the proposed merger of Santos (ASX:STO) and Oil Search (ASX:OSH), both of which hold stakes in PNG LNG.
Mukesh Ambani’s Reliance Industries (NSE:RELIANCE) acquired a Norwegian solar panel maker and an Indian builder of renewable projects in a bid by the oil-to-retail conglomerate to extend its dominance into alternative energy.
Surging oil and gas prices will see the upstream industry generate a wall of cash, which in the past led to rising upstream spend. But the energy transition has upset the outlook for oil and gas producers, changing the rules of the game for not only international oil companies (IOCs), but also national operators and host governments, according to Wood Mackenzie.
