China overtook Japan as Australia’s top LNG export destination in the financial year ending June 2021 with 29.8 million tonnes (39%) of Australian export volume, slightly more than 29.4 million tonnes (37%) recorded over the same period a year before, reported EnergyQuest.
Shell claims to have signed the world’s first carbon-neutral term liquefied natural gas (LNG) supply deal after sealing a five-year contract with PetroChina.
Global Power Synergy, the listed power unit of Thailand’s national energy company PTT Group, has acquired a 41.6% stake in Indian renewable energy provider Avaada Energy for about 14.8 billion baht ($453 million).
Australia’s Woodside said today that it has launched the sell-down processes for Pluto Train 2 and Scarborough ahead of a planned final investment decision (FID) for the LNG export development that is expected to cost more than $11 billion.
Australian Transborders Energy said yesterday that its floating liquefied natural gas (FLNG) solution development has secured the major project status (MPS) renewal from the Australian government.
Malaysia’s Petronas, which has yet to make a firm carbon-neutral pledge, will deploy solar energy at the group's assets across Malaysia to boost efficiency and cut carbon emissions as part of its sustainability agenda and “aspiration” of Net Zero Carbon Emissions by 2050 (NZCE 2050).
A United Nations (UN) human rights investigator has urged countries to impose economic sanctions on Myanmar’s oil and gas sector to cripple the military junta that seized power in a coup five months ago, reported Reuters.
Santos is seeking buyers for a share in its $2 billion Dorado oil project offshore Western Australia and energy consultancy Rystad Energy expects BHP will be looking closely at the asset.
Qatar Petroleum will supply 1.25 million tonnes per year of liquefied natural gas (LNG) to Taiwan’s CPC Corporation for 15 years. Qatar Petroleum said yesterday that LNG deliveries will start in January 2022. Since the first LNG delivery in March 2006, CPC has received more than 63 million tonnes of LNG from Qatar.
Despite China harassing Malaysia’s offshore gas developments last month, Malaysian national oil company (NOC) Petronas and state-backed China National Offshore Oil Corporation (CNOOC) yesterday signed a liquefied natural gas (LNG) supply deal estimated to be worth $7 billion over ten years.
China has been contesting new Malaysian oil and gas development at the Kasawari field offshore Malaysia since early June with China Coast Guard (CCG) vessels harassing the project. The harassment also coincided with Chinese military planes entering Malaysia’s national airspace.
Australia is seeking expressions of interest for the Northern Endeavour FPSO decommissioning project. Significantly, this could provide North Sea players the perfect opportunity to get a foothold in the rapidly expanding Australian decommissioning market.
Thailand’s PTT Exploration & Production (PTTEP) said it will need between one and two years to hit its contractual production target at the Erawan field offshore Thailand once it takes over from current operator Chevron.
Shell has supplied Osaka Gas with its first shipment of carbon neutral liquefied natural gas (LNG) as the Japanese company strives to meet its 2050 net-zero goal.
Jadestone Energy is pressing ahead with its Akatara onshore gas field development in Indonesia after receiving government approval.
Bechtel will provide front-end engineering and design (FEED) services for Delta Energy Offshore’s proposed LNG-to-power project in southern Vietnam.
China’s Sinopec has started building the country’s first large-scale carbon capture utilisation and storage (CCUS) project as part of its target to be carbon-neutral by 2050.
India’s state-backed Oil & Natural Gas Corporation (ONGC) said that it plans to spend 300 billion Indian rupees ($4.03 billion) during its current financial year to boost oil and gas output. ONGC’s profits have also bounced back.
The OPEC+ oil cartel is facing its biggest crisis since a price war at the start of the coronavirus pandemic.
The Chevron-led Gorgon LNG venture in Australia will proceed with a $4 billion investment for the Jansz-Io compression development that will keep customers in Asia supplied with gas for decades. Significantly, the subsea compression project, needed to move the gas from the deep seas to shore, will be the first of its kind outside of Norway.
The expected return of Iranian oil to the market as US sanctions are likely to be lifted over the next year will offer new opportunities for former buyers in Asia to reshuffle their oil import mixes. Significantly, the return of Iranian barrels will trigger a fierce battle among global suppliers for market share raising the risk of price drops, reported Fitch Solutions.
Saudi Arabia and the United Arab Emirates cranked up the tension in their OPEC standoff as the rare diplomatic spat between long-time allies leaves the global economy guessing how much oil it will get next month.
Carbon capture and storage (CCS) is seen as an essential requirement by the oil and gas industry for it to meet the targets of the Paris Agreement, however the only way it will become commercially viable is if companies collaborate to create shared-CCS hubs, according to Wood Mackenzie.
The OPEC+ alliance descended into bitter infighting after a key member blocked a deal at the last minute, forcing the group to postpone its meeting and casting doubt on an agreement that could ease a surge in oil prices.
Australia is on the verge of its largest-ever wave of decommissioning as offshore development wells reach the end of their producing life. This is both adding headaches for producers and creating a multi-billion dollar opportunity for plugging and abandonment (P&A) suppliers.
