Shell has failed to generate any significant interest in the sales process for its share of the giant Abadi LNG project one year after the Indonesian government announced the Anglo-Dutch supermajor’s intention to divest.
East Timor could pocket just over $600 million if the Buffalo-10 exploration well, due to be drilled late October, is successful. The operator, Australia’s Carnarvon Petroleum, as well as UK partner Advance Energy, said yesterday that they have secured a jack-up drilling rig for the probe at the historic Buffalo field offshore East Timor.
ExxonMobil’s chief executive Darren Woods says the company is “deeply apologetic” over comments caught on camera in a secret filming by Greenpeace that show one of the oil giant’s lobbyists saying a carbon tax the company has promoted for years is unlikely to happen.
Qatar Petroleum is set to supply another 1 million tonnes per year (t/y) of liquefied natural gas (LNG) to China after signing a 10-year contract with Shell. The deal brings Qatari LNG supplies to China under long-term deals to 12 million t/y.
India expects fuel demand to get back to pre-virus levels by the end of 2021 as the world’s third-biggest oil consumer emerges from the clutches of the Covid-19 pandemic.
Oil climbed back above $73 a barrel after an industry report pointed to a big decline in US crude inventories ahead of an OPEC+ meeting that’s expected to lead to the group returning more supply to the market.
Thailand’s PTT Exploration & Production (PTTEP) is having difficulty accessing the Chevron-operated Erawan gas field to install production facilities as planned, ahead of a transition next year. PTTEP is now reportedly “losing hope” of gaining access before next April’s handover due to an unresolved legal battle with Chevron.
Repsol and partner Petronas plan to take a final investment decision (FID) on the giant Kali Berau Dalam (KBD) gas discovery on the Sakakemang Block in Indonesia next year with full production targeted by 2027.
State-owned Pakistan State Oil, Pak-Arab Refinery and Pakistan LNG will receive a $4.5 billion loan to fund imports of crude, petroleum products, urea and LNG over 2021-2023.
Indonesia upstream regulator SKKMigas today announced that the South Jambi B Block onshore Sumatra and operated by Hong Kong’s Jindi Group has started flowing natural gas.
China’s long-awaited national carbon market is set to miss a government target to begin by the end of June, a new set-back to plans to create the world’s largest emissions trading system.
Oil extended losses as a coronavirus resurgence raised concerns about demand ahead of an OPEC+ meeting this week that could see the alliance boost some halted output.
Australia’s Santos today announced that its large Dorado oil project offshore Western Australia has started the front-end engineering and design (FEED) phase. Santos is also seeking buyers for a share in the development, which has a “very low” carbon dioxide footprint and is expected to initially cost $2 billion.
UK-listed Harbour Energy said it is on track to probe the deep waters of Indonesia’s North Sumatra basin in its Andaman II production-sharing contract (PSC).
China's natural gas demand will continue to expand over the next 10-15 years in line with the country's target for emissions to peak by 2030, according Chinese gas industry officials.
Oil held near $74 a barrel as investors focused on an OPEC+ meeting this week that may pave the way for more supply from the group.
Four independent non-executive directors of Serba Dinamik have resigned, citing differences of opinion over the Malaysian oil and gas services company’s decision to take legal action against its former external auditor, KPMG.
The United Arab Emirates could become the first nation among the Organization of the Petroleum Exporting Countries (OPEC) to set a net-zero goal, a move that would please Western countries pushing for stronger climate commitments but won't require it to sell less oil.
China’s CNOOC Ltd today said that the country’s “first offshore large-sized independent deep-water gas field” named Lingshui 17-2 has started production. The development, which CNOOC claims includes the world’s first 100,000 ton semi-submersible platform, underscores the advancement of China’s deep-water technical knowhow.
India’s richest man, Mukesh Ambani, who has run one of the world’s largest petroleum businesses for over two decades, yesterday announced that his company Reliance Industries, will invest 750 billion rupees ($10 billion) towards clean energy solutions over the next three years.
Petronas, which has yet to make a firm carbon-neutral pledge, sees significant growth ahead for solar and wind, particularly as a hedge against volatile fossil fuel prices, Jay Mariyappan, head of the state-backed Malaysian company’s new energy business told the APAC power and renewables summit.
Singaporean rig builders Keppel Corporation and Sembcorp Marine this morning requested a halt in the trading of their shares pending announcements.
Southeast Asia is emerging as a hotspot for global solar investment with over $10 billion invested just last year. In 2020, the region represented 12% of the global solar market and installed capacity has more than doubled every year since 2018, Rishab Shrestha, analyst at Wood Mackenzie told the APAC power and renewables summit today.
Supplying liquefied natural gas (LNG) to the expanding Asian market has become more expensive for US producers this year, a Rystad Energy report reveals. Even so, US exporters are unlikely to repeat last year’s cost-related shut-ins as global demand has rebounded to strong levels. Instead, US LNG exports climbed to a record monthly high of 6.5 million tonnes in May and may keep rising to new peaks, according to the energy consultancy.
Saudi Arabia’s Energy Minister said the OPEC+ alliance has a role in “taming and containing” inflationary pressures, just hours after Brent crude surged back above $75 a barrel.