Xinjiang Goldwind Science & Technology Co., the largest wind-turbine maker, said profit plunged as a price war continues to offset some of the benefits of China’s surge in clean energy investment.
Taiwanese President Tsai Ing-wen last week signed a major climate change law that introduces a net-zero carbon target for 2050 and a carbon fee system for large emitters.
Malaysia’s 2022 oil and gas bid round was a remarkable success, attracting fresh investment, new upstream explorers, as well as new ideas to the mix in Southeast Asia’s most successful market. Indeed, other Southeast Asian countries should take note as Malaysia also launched its 2023 round that will see more investors queuing up.
The levelised costs of electricity (LCOE) for utility solar and onshore wind in Asia Pacific were up 16% and 12% respectively since 2020, as equipment, construction costs and interest rates rose in the region. However, China was insulated from the trend.
Renewable energy M&A deal value in Asia Pacific increased by 11% year-on-year to $19 billion in 2022, primarily due to a surge in onshore wind and geothermal merger and acquisition activity.
Underscoring the rising interest in Southeast Asia’s upstream market, North Sea-focused E&P company Longboat Energy (AIM:LBE), confirmed it is “exploring opportunities to broaden its strategic remit” in the region.
Despite the above-surface challenges, Indonesia's subsurface oil and gas potential remains attractive. More upstream M&A is on the cards as majors, independents and NOCs reshuffle their portfolios.
Asian nations counting on offshore wind farms to meet clean energy goals are facing an increasing shortage of ships for installing the massive turbines in the sea.
Will 2023 see the majors, including ExxonMobil, Chevron, Shell, BP, ConocoPhillips, TotalEnergies, and Eni, divest upstream oil and gas assets in Southeast Asia?
Petronas has signed two project development agreements with ExxonMobil (NYSE:XOM) to jointly pursue carbon capture and storage (CCS) activation projects in Malaysia.
Thailand’s state-backed energy company PTT Exploration & Production (PTTEP) has decided to delay the development of its integrated gas-to-power project, that would use resources from the M3 Block, to generate electricity in Myanmar, according to a report in the Bangkok Post.
US natural gas futures extended losses below $3 amid mild winter weather that helped spark the worst selloff among the country’s commodities.
Malaysia’s international energy shipping company MISC, which is closely tied to Petronas, has signed agreements with Japan’s Mitsui, South Korea’s Samsung Heavy Industries (SHI), and Austria’s ANDRITZ, to explore carbon capture and storage (CCS) solutions in the maritime value chain.
Bangladesh is set to increase its coal-based power generation capacity to ensure supply security at a time when many other countries are focussing on cutting dependency on thermal coal power to achieve climate goals.
Japan’s Nippon Steel is considering capturing carbon dioxide (CO2) emissions from its Japanese steel mills for underground storage at facilities linked to ExxonMobil (NYSE:XOM) in countries including Australia, Malaysia and Indonesia, reported Nikkei Asia.
Interview suggests North Sea was the high-growth area for EnQuest, but could be replaced by Asia in wake of the UK windfall tax
Canada’s Criterium Energy has acquired a 42.5% interest in the Bulu production sharing contract (PSC) holding the Lengo gas field offshore Indonesia for $1.6 million. Significantly, the company is seeking more complimentary assets in Southeast Asia.
The Bank of Japan’s latest policy shock will provide some relief to the nation’s energy crisis, helping to cut the cost to procure fuel from overseas.
Vietnam has landed a $15.5 billion partnership with funders led by the European Union and the UK to help finance its transition away from coal.
A nuclear power plant on the Philippines’ western coast has sat idle for nearly four decades, costing billions of dollars and never producing a watt of electricity. Now, it’s at the center of a debate over whether the nation should finally adopt atomic energy.
London-listed Oracle Power, via its joint venture Oracle Energy, has leased 7,000 acres of land in Pakistan, where it proposes to build what could be the country’s first green hydrogen project.
The war in Ukraine is strengthening the role of Asia and the Middle East as the world’s main providers of fuels like diesel and gasoline that are crucial to the global economy.
The government of India has kicked off plans for offshore wind by releasing a consultation paper to call for bids to lease 870 square kilometres of seabed area in the power hungry South Asian nation.
Sri Lanka’s offshore wind resource far exceeds the South Asian nation’s energy demand, and its development could help the country’s economic recovery by displacing costly fuel imports, according to the World Bank.
US President Joe Biden and Indonesian President Joko Widodo announced a climate finance deal providing $20 billion to help Indonesia pivot away from coal power.