Russian state oil and gas producer Zarubezhneft aims to create a new gas cluster with assets in Vietnam and Indonesia following recent deals involving Premier Oil and Rosneft.
Industry sources report Hess has issued a tender for the provision of turnaround and inspection services at its North Malay Basin project offshore Malaysia.
The bosses of some of the world’s biggest oil companies said crude prices are likely to keep rising because a lack of investment will curtail future supply.
Abu Dhabi’s sovereign wealth fund Mubadala Investment Company has offloaded a A$363 million ($273 million) share in Oil Search, which has major stakes in Papua New Guinea’s emerging liquefied natural gas (LNG) sector.
Brent oil hit $75 a barrel for the first time in more than two years amid signs of a rapidly tightening market.
South Asia, which includes India, Pakistan, Sri Lanka, and Bangladesh, is slowly following the rest of the world in the transition towards cleaner energy systems. The subtle shift opens potentially large market opportunities for energy service suppliers.
Investments in Asia Pacific wind and solar power could double to $1.3 trillion over the current decade to 2030 compared with the period 2011-20, predicts Wood Mackenzie. However, in most Asian markets, subsidy-free renewable power will not be able to compete with coal power until 2025 or later, cautioned the energy research company.
Industry sources have told Energy Voice that liquidators for financially crippled Asia-focused upstream player KrisEnergy are accepting non-binding offers for the Singapore-based company’s assets.
Thailand's state-owned oil and gas group, PTT, will invest 20 billion baht ($635 million) in renewable energy in India, China and elsewhere in Asia, as it takes steps to shift from fossil fuels to cleaner energy sources.
The eastern Malaysian state of Sarawak, home to the country’s liquefied natural gas (LNG) export complex, has awarded its first onshore block to Petra Energy and Uzma, as it hopes to revitalise its onshore oil and gas industry after taking regulatory control from the federal government.
Petronas said yesterday that JPMorgan’s decision to exclude the Malaysian national oil company from its ESG Emerging Market Bond Index and ESG Asia Credit Index at the end of June 2021 is regrettable.
Indonesia is offering six upstream blocks as part of its first licensing round in 2021 with improved terms to help attract new investment. Significantly, investors will have the option to choose between the newer gross-split production-sharing contract (PSC) and the traditional cost-recovery PSC, which the government tried to phase out in recent years.
Surging demand will see China become the world’s largest importer of liquefied natural gas (LNG) this year, stealing the crown from Japan, according to forecasts from energy research company Wood Mackenzie.
Eni will work with Indonesian upstream regulator SKKMigas to process and interpret seismic data owned by Indonesia using the Italian major’s proprietary technologies and facilities.
Indonesian state-owned energy giant Pertamina posted a 58.4% drop in net profits last year after oil prices collapsed following a slump in energy demand due to the COVID pandemic.
Japanese trading conglomerate Mitsubishi Corporation will develop a massive onshore wind farm in Laos that will supply electricity to power-hungry Vietnam.
Australian producers need to be at the forefront of carbon-neutral liquefied natural gas (LNG) or “green LNG” to remain competitive, energy research company Wood Mackenzie told delegates at the Australian Petroleum Production & Exploration Association (APPEA) conference today. But progress is not fast enough.
India’s H-Energy is set to finalise a long-term deal to supply re-gasified liquefied natural gas (LNG) to Bangladesh through a cross border natural gas pipeline.
Malaysian national energy company Petronas and Indonesian counterpart Pertamina are on a watchlist for removal from JPMorgan’s emerging market bond index (EMBI) on environmental social governance (ESG) concerns, reported Reuters, citing a statement from the bank.
Oil extended a powerful rally, with global benchmark Brent closing in on $75 a barrel, after data pointed to a substantial draw in US crude stockpiles and top traders predicted further gains in prices.
Fitch Solutions believes that the Myanmar military government’s solar project push, the first attempt at stimulating foreign investment since the coup, will not succeed and will do little to turn the gloomy economic situation around.
Santos chief executive Kevin Gallagher warned oil and gas industry leaders that achieving net zero emissions will be crucial for the natural gas industry to avoid coal’s fate of being shunned by equity investors and lenders.
A new A$2 billion ($1.54 billion) Queensland Renewable Energy and Hydrogen Jobs Fund will be established to expand on the previous A$500 million Renewable Energy Fund in the Australian state.
The Premier of Western Australia, Mark McGowan, told the Australian Petroleum Production & Exploration Association (APPEA) conference on Tuesday that the state’s market share in renewable hydrogen exports in 2030 should be similar to its share of liquefied natural gas (LNG) exports today.
Hyundai Engineering has awarded Arup and Offshore Design Engineering (ODE) an engineering services contract for the 220 MW Anmado offshore wind project in South Korea.
