Surging US Henry Hub gas prices, as well as higher and extremely volatile global gas prices, offers a lesson for emerging markets that investment in gas importing, distribution and power production assets will lead to stranded assets and lost wealth, according to analysis from IEEFA.
BHP Group will transfer some $3.9 billion worth of oil and gas decommissioning liabilities to Woodside if the pair’s merger goes through successfully. The liability is much smaller than expected helping to ease investor concerns at Woodside.
Australian liquefied natural gas (LNG) developer Woodside has joined five parties to establish the HyStation company, which aims to build and operate hydrogen refuelling stations to service public transport bus fleets in South Korea.
The government of the Philippines is eyeing a potentially large gas discovery as UK company Forum Energy prepares to drill in the disputed waters of the South China Sea. But geologists remain skeptical about the potential and any unilateral drilling will likely draw Beijing’s ire.
Brunei Shell Petroleum has rolled out measures in an attempt to ward off disruptions to oil and gas production in Brunei following a significant number of Covid-19 infections detected at offshore platforms in the Champion field, the country’s biggest source of hydrocarbons.
An oil spill unleashed by Hurricane Ida is highlighting longstanding concerns about the more than 18,000 miles of decommissioned pipelines that still snake through the Gulf of Mexico, even though they no longer transport crude and natural gas.
Positive shale gas exploration results in Australia’s remote Northern Territory have seen UK-listed Falcon Oil & Gas’ share price treble since Friday on expectations that the Beetaloo basin could be on par with shale gas plays in North America.
Italy’s Eni is believed to be carrying out studies in Blocks 115 and 116 offshore Vietnam with an eye to planning a single-well drilling campaign during the first-half 2022, Westwood Global Energy said in its latest report. The blocks are a short distance from Eni’s large Ken Bau discovery offshore Vietnam.
Natural declines and underinvestment in new exploration has left Philippine oil and gas production in freefall posing significant risks to future energy security. The risk is particularly acute given how reliant the Southeast Asian nation is on oil and gas for power generation, industrial processes and transportation, warn analysts at Fitch Solutions. But interest from investors has been rekindled.
Indian state-backed Oil & Natural Gas Corporation (ONGC) has pumped first gas from its deep-water U1B well off India’s eastern coast.
The Indonesian government will allow Pertamina to divest more than 51% of its participating interest in legacy upstream blocks that it has acquired from former operators.
Oil and gas producers, and refineries that fuel the US, are assessing the impact on operations after the passage of Hurricane Ida, with peak daily supply curtailment of 1.8 million barrels per day recorded in the Gulf of Mexico. As a result of the disruption price volatility can be expected in global crude markets.
Malaysia’s national energy company Petronas is considering selling some of its oil assets to bolster its finances as the federal government seeks a bigger dividend and to help streamline its business for the energy transition. Overseas assets in Africa, Middle East and Southeast Asia could be put up for sale.
Shell and its partners, Petronas Carigali and Brunei Energy Exploration, have taken a final investment decision (FID) on the Timi sweet gas development offshore Malaysia that will help boost the country’s liquefied natural gas (LNG) exports. Significantly, Shell said the development marks its first offshore wellhead platform to be powered by solar and wind in Malaysia.
Indian Oil Corporation said Friday that it is expanding its joint venture with Malaysian state-backed energy company Petronas to include building liquefied natural gas (LNG) terminals, as well fuel retailing and gas distribution in India. Liquefied petroleum gas (LPG) is already imported by Indian Oil under an equal joint venture with Petronas called IndianOil Petronas.
Tropical Storm Ida has formed in the Caribbean and is forecast to a grow into a powerful hurricane in the days ahead, wreaking havoc across the Gulf of Mexico and ultimately crashing into the US coast.
Spirit Energy has found more gas at Grove, "significantly" extending the life of the southern North Sea field.
Tengku Muhammad Taufik, chief executive of Malaysian national energy company Petronas, today told the Asia Future Energy conference, that the pathway to a sustainable energy system is not yet clear. Moreover, there will be many different paths to achieving a net-zero emissions energy system, he said.
Indonesia's crude oil and natural gas production growth outlook continues to be downbeat. Total oil and gas output have seen broad declines since 2010 and the long-observed trend is not expected to be reversed any time soon, reports Fitch Solutions.
Natural gas and liquefied natural gas (LNG) will remain highly important to Thailand’s power sector and as a bridging fuel during the Southeast Asian nation’s energy transition, Auttapol Rerkpiboon, chief executive of state-backed Thai energy company PTT, told the Future Energy Asia conference today.
Indonesian upstream regulator SKK Migas has approved BP’s $2.04 billion plan to develop new gas fields in West Papua that will supply its Tangguh liquefied natural gas (LNG) export project. However, the UK supermajor will likely need Indonesia to finalise regulations around carbon capture, utilisation and storage (CCUS) before any expansion can take place.
ExxonMobil and Papua New Guinea (PNG) will restart negotiations over the development of the P’nyang gas resource that the US major wants to develop as part of a phased liquefied natural gas (LNG) export project.
Brunei’s oil and gas sector has been reporting an increasing number of Covid-19 cases following 22 new infections that were linked to the Shell-operated Champion 7 offshore oilfield cluster.
China’s Sinopec has discovered another 34.029 billion cubic metres (cm) of gas reserves at the Zhongjiang field in the Sichuan basin. Total gas reserves in the basin now stand at 106.1 billion cm, said the Chinese national oil company.
Indonesian national oil company (NOC) Pertamina is doggedly pursuing US major ExxonMobil to help it develop oil resources at the giant East Natuna field in the disputed waters of the South China Sea. Development of the field faces huge technical, economic and geopolitical challenges, but Pertamina believes a gradual phased development, starting with oil could offer a solution.