Equinor targets Japan’s emerging offshore wind sector
Equinor has teamed up with two of Japan’s leading energy firms as it looks to make inroads into the East Asian country’s expanding renewables sector.
Asia
Oil falls with pandemic-hit economies crimping demand outlook
Oil fell as economic signals out of Europe and Asia flashed warning signs about the rebound in crude consumption.
Joint venture between Petrofac and SOCAR secures £77m contract with BP Azerbaijan
A joint venture between UK-headquarterd energy services firm Petrofac and Azerbaijan’s state oil company has secured a £77 million contract with BP Azerbaijan.
Polysilicon makers’ shares soar after blast at rival’s Chinese plant
One of the world’s biggest producers of polysilicon -- a key ingredient for solar power systems -- shut a major plant in China after it suffered a series of explosions, according to a person familiar with the incident.
Politics muddy Indonesia’s $48 billion refinery expansion plan after Aramco walks
Saudi Aramco’s experience may offer a cautionary tale to other investors considering multi-billion-dollar refining partnerships with Indonesian NOC Pertamina
Asian NOCs eye once-in-a lifetime overseas M&A opportunities
Cashed-up Asian NOCs are actively screening international assets and companies for once-in-a lifetime acquisition opportunities amidst the global downturn.
Silver lining for Asian LNG market after oil price crash
Lower long-term LNG prices could encourage coal-to-gas switching in Northeast Asia, while Chinese LNG demand is also expected to expand this year, albeit at a slower rate, as China gets back to work.
Asian NOCs set to maintain domestic upstream spend
While most international oil companies (IOCs) have stated they will make major spending cuts this year in response to the downturn, Asian national oil companies (NOCs) are expected to maintain domestic upstream spending to help employment and economic activity levels.
Asia Pacific upstream M&A set to accelerate
Southeast Asia and Australia are set to take centre stage in the region’s upstream M&A activity as private equity companies sense a value opportunity.
ABB to provide control system for China solar gig
Swiss technology firm ABB is supporting the Chinese government in its efforts to produce emissions-free electricity.
$100bn clean-up bill awaits Asia’s old offshore oil wells
Getting old is expensive if you’re an oil well.
Harvey’s roar rumbles half a world away as LPG in Asia jumps
Asian buyers of liquefied petroleum gas are already paying for disruptions half a world away in Texas as record rainfall halted shipments of propane and butane from ports that handle more than 90% of US exports to the region.
Asian investment on US shale deals has dried up since downturn
US shale was the hot ticket for Asian investors before the downturn but deals have dried up since 2014, according to analysts Wood Mackenzie.
Indonesian police say Interpol searching for three Sinopec execs
Interpol has issued red notices, the closest to an international arrest warrant, for three Chinese executives suspected of fraud, according to Indonesian police.
Asia grabs record North Sea crude oil as OPEC cuts supply
Asia’s oil refineries are turning to the North Sea for crude supplies like never before as their primary suppliers restrict output in an effort to eliminate a glut.
BP sends 3million barrels of oil on epic voyage to Asia, report says
BP is shipping nearly 3 million barrels of US crude worth around $150million to Asia via one of the world’s longest sea routes, a news report said.
Shell among new LNG sellers for Asia gas hub contender Singapore
Singapore, which is vying to become a regional center for the trading of liquefied natural gas in Asia, picked Royal Dutch Shell Plc and Pavilion Gas Pte Ltd. as its next suppliers of the fuel.
Energy disputes in Asia: A New Wave?
Oil prices continue to be depressed and trading conditions for oil and gas companies remain difficult. In such circumstances, commentators are predicting a new wave of disputes in the oil and gas sector, with new types of dispute (for example, claims brought by liquidators following the insolvency of a counterparty) prevailing. However, market conditions vary across the world, and it would be unwise to assume that conditions in a mature market such as Europe are the same, and/or will have the same consequences, in Asia and South East Asia region. In this article, Richard Power considers whether the Asia/South East Asia region stands on the verge of a new wave of energy disputes, or whether the region's peculiar - perhaps unique - economic circumstances could isolate it from the travails affecting the energy sector elsewhere in the world.
Baron Oil in JV deal with new Asia player
Baron Oil has entered into a joint venture with SundaGas to search for new business opportunities in Southeast Asia.
Asia’s second richest man takes legal action against Goldman Sachs over gas company
Asia’s second richest man has taken legal action against Goldman Sachs over $15.9million which was allegedly incorrectly charged related to his takeover of an Australian gas company.
Update: Pay dispute, not terrorism behind Malaysian tanker ‘hijacking’
A “hijacked” Malaysian oil tanker is thought to have been taken in a commercial dispute, a news report said.
Chevron said to be planning $5bn assets sale in Asia
Oil major Chevron is said to be planning to sell a number of assets in Asia worth up to $5billion.
Oil drops below $50 amid Asia demand concern
Oil has dropped below $50 amide signs US shale drilled have been adapting to lower prices.
Asia can’t seem to escape its addiction to Middle East oil
Even in a world awash with crude, buyers in the world’s biggest oil market can’t seem to escape their addiction to Middle East supplies.
US oil is too good, too expensive and too far for Asia buyers
In the world’s biggest oil market, buyers have better options than US crude. As the country inches toward ending the last restrictions on exports, Asian buyers will probably have a limited appetite for the quality of crude on offer. Many of the region’s refiners are geared to process heavier, cheaper oil with higher sulfur content.