Japan’s recent revision to its strategic energy plan (SEP) lowers the targeted share of liquefied natural gas (LNG) in the country’s power generation mix in 2030 to 20% from 27% previously, as a measure to cut emissions. However, analysis from Rystad Energy concludes that Japan’s targets are too ambitious and that the changes the new plan will bring will mostly be in the structure of commodities trading.
President Joe Biden has pledged to wean the US off of fossil fuels, and never has that call been more urgent than now, with United Nations-backed scientists warning of a point of no return.
BP said today that Western Australia is an “ideal place” to develop export-scale green hydrogen and ammonia production facilities.
Baker Hughes will supply subsea compressions manifold technology for the Jansz-lo Compression (J-IC) project that will boost gas production at Chevron’s Gorgon project offshore Australia.
POSCO International will start exploration offshore Peninsular Malaysia after winning the rights to the 4,738 sq km shallow-water Block PM524 as the South Korean company seeks to expand its footprint outside of Myanmar in the Southeast Asia region.
Inpex will delay a final investment decision (FID) for its proposed Abadi liquefied natural gas (LNG) development in the Masela Block offshore Indonesia as survey work has been disrupted by the Covid-19 pandemic and design adjustments may be needed due to climate change.
Oil steadied near a three-week low as the rapid global spread of the delta virus variant prompted a reassessment of the demand outlook.
The government of Papua New Guinea (PNG) has again changed the agreed fiscal terms for Twinza Oil’s proposed Pasca A gas project, which would be the country’s first offshore development. Significantly, the move underscores the increasing political risk for resource investors, such as ExxonMobil, in the Pacific Island nation.
Italy’s Eni will ship a carbon-neutral liquefied natural gas (LNG) cargo from Indonesia to CPC Corporation in Taiwan.
China’s newest oil refiners are thriving by aligning themselves with President Xi Jinping’s vision, expanding even as their older rivals and several other private businesses have been reined in by Beijing.
Indonesian national oil company (NOC) Pertamina is now the official operator of the giant Rokan Block offshore Indonesia after taking over from Chevron today. Significantly, Pertamina will invest $2 billion over the next four years in an attempt to reverse declining production at the legacy asset.
Estimates from OilX show China’s crude oil imports fell 4.47% month-on-month to 9.36 million barrels per day (b/d) in July. This would imply a year-on-year fall of 22.4%, or 2.7 million b/d, the latest data from the analytics firm showed.
Murphy Oil has decided not to sell its stake in Block CA-1 offshore Brunei following a deepwater discovery by the block’s operator Shell.
The diverse Asia Pacific regions offer a myriad of opportunities, ranging from decommissioning, late-life field rejuvenation, offshore wind, as well as carbon capture and storage (CCS), for adventurous UK companies.
UK-based upstream player Harbour Energy has restarted development well drilling at its Natuna Sea Block A offshore Indonesia after operations were suspended due to a helicopter accident last week.
Thailand’s PTT Exploration & Production (PTTEP) is managing to maintain its upstream oil and gas production obligations in Myanmar despite recent turbulence in the country that has delayed some activities.
Thailand’s PTT Exploration & Production (PTTEP) said yesterday that there is still “no clarity” around access to the Chevron-operated Erawan gas field off Thailand ahead of a transition next year. PTTEP wants access before next April’s handover to ensure a smooth transition and stem a production decline at the field, which is key to Thai energy security.
Indonesian upstream regulator SKK Migas is preparing a strategic plan covering the decommissioning of more than 100 upstream oil and gas platforms in Southeast Asia’s largest producer of hydrocarbons.
Malaysia is expected to contribute about 12% or 3.1 billion cubic feet (bcf) of global natural gas production in 2025 from key offshore planned and announced projects that are projected to start operations between 2021 and 2025, according to research from GlobalData.
Deep-water drilling activities are bouncing back in Southeast Asia following a lacklustre 2020 with overall spending expected to rise 51% this year to $504 million and almost back to 2019 levels, estimates from Rystad Energy show.
Shell has snapped up new exploration acreage in Malaysia offshore the state of Sarawak in a move that underscores the supermajor’s commitment to country’s upstream sector.
Santos, which operates the Bayu-Undan field offshore East Timor, said today that production from its Phase 3C infill drilling program has started with the first well producing a better than expected outcome.
Deepwater upstream projects are increasingly important for Southeast Asia, where new investment in production is critical to meet rising demand for oil and gas, as economies continue to expand.
TotalEnergies and its partners are targeting to start front-end engineering and design (FEED) work at the Papua liquefied natural gas (LNG) project, led by the French company, next year. Significantly, ExxonMobil could also be close to cutting a critical deal with the Papua New Guinea (PNG) government that would help expand the development.
Indonesian national oil company (NOC) Pertamina is finalising studies to replace ageing facilities at its Offshore North West Java (ONWJ) and Offshore South East Sumatra (OSES) blocks to help improve production, according to upstream regulator SKKMigas.
