Hong Kong targets prized Saudi Aramco listing with Xi’s backing
Two months after Chinese President Xi Jinping visited Saudi Arabia, Hong Kong’s leader John Lee has followed in his footsteps by taking a sizeable entourage to the kingdom.
Gas
India can add oil and gas while it chases green goal, Modi says
India, the third-largest greenhouse gas emitter, is planning for an expansion of its oil and gas sectors even as it aims to hit net-zero by 2070.
Woodside revisits Timor LNG concept for Sunrise after bullying accusations
Woodside Energy (ASX:WDS) will reassess the option of developing a liquefied natural gas (LNG) project to commercialise the Greater Sunrise gas fields in East Timor after its Timorese partner accused it of “corporate bullying” last December.
Upstream oil and gas M&A opportunities in Indonesia for 2023
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.
Upstream M&A in Southeast Asia: will the oil and gas majors divest in 2023?
Will 2023 see the majors, including ExxonMobil, Chevron, Shell, BP, ConocoPhillips, TotalEnergies, and Eni, divest upstream oil and gas assets in Southeast Asia?
Question mark over Beach’s LNG deal with BP as wells disappoint
Australia’s Beach Energy (ASX:BPT) has significantly cut estimated gas reserves at its LNG export project near Perth, Western Australia, by 11% following the Waitsia Stage 2 drilling campaign. BP (LON:BP) has an agreement to offtake the liquefied natural gas (LNG) volumes, which could be in doubt if the geology does not stack up as expected.
Chinese patrols near oil and gas in disputed South China Sea hit new peak with tensions high
China’s Coast Guard maintained near-daily patrols at key features across the disputed South China Sea last year, ramping up its presence as tensions over the waterway with Southeast Asian neighbours remain high, new tracking data shows.
Philippines greenlights LNG project as domestic reserves shrink
The Philippines has approved a plan to build a small-scale liquefied natural gas (LNG) terminal, adding to six ongoing projects that are expected to boost domestic supply from imports as the Southeast Asian nation’s sole gas field dries up in three years.
PTTEP delays $2bn M3 gas development in Myanmar
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.
PTTEP seeking to divest Cash-Maple gas asset in Australia this year
Thailand’s state-backed energy company PTT Exploration and Production (PTTEP) expects to sell its Cash-Maple gas and condensate field in Australia in 2023, according to a report in the Bangkok Post.
US natural gas falls below $3 for first time since May 2021
US natural gas futures extended losses below $3 amid mild winter weather that helped spark the worst selloff among the country’s commodities.
Chevron to buy back $75bn in stock after record profit
Chevron plans to buy back $75 billion of shares and increase dividend payouts after a year of record profits that evoked angry denunciations from politicians around the world as soaring energy prices squeezed consumers.
Bangladesh leans to coal power as renewables face challenges
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.
Australia’s Woodside pumps record oil and gas, eyes more FIDs in 2023
Woodside Energy (ASX:WDS) produced record volumes of oil and gas in 2022, the Australian LNG exporter announced today as it released its fourth quarter financials. Woodside is also getting ready for numerous final investment decisions (FIDs) on various projects in 2023.
Honeywell wins CCS technology deal in Thailand for PTTEP
Honeywell has been selected as the carbon capture technology provider for PTT Exploration & Production (PTTEP) at the Arthit carbon capture and storage (CCS) project for the Arthit gas field in the Gulf of Thailand.
Jadestone acquires Thai gas assets from Medco Energi
Southeast Asia-focused Jadestone Energy has signed a deal with Indonesia’s Medco Energi Internasional to acquire stakes in the Sinphuhorm gas field and Dong Mun gas discovery onshore Thailand for $32.5 million.
South Korea curbs plans for renewables in push for more nuclear
South Korea will boost nuclear power generation and downgrade its plans for renewable energy as the nation overhauls its electricity mix to meet emissions reduction targets.
Petronas awards Fugro deal to progress Kelidang offshore Brunei
Dutch company Fugro said Wednesday it had received a "sizeable" contract from Malaysia’s Petronas Carigali, for the Kelidang Cluster gas field development project offshore Brunei.
Japan’s INPEX pursues giant CCS hub as part of clean energy future in Australia
Carbon capture and storage (CCS) will form a key plank in INPEX’s (TYO:1605) efforts to progressively decarbonise its Ichthys liquefied natural gas (LNG) operations in Australia’s Northern Territory. It will also help Japan’s biggest energy company establish the foundations for the next generation of clean fuels.
Ping Petroleum wins first Malaysia oil and gas PSCs
Petronas has awarded Ping Petroleum two production sharing contracts (PSCs) for discovered oil and gas resources in Malaysia marking the company’s debut in its home country.
Sri Lanka set to open 900 offshore blocks for oil and gas exploration
Sri Lanka is preparing to issue two-year oil and gas exploration licenses for as many as 900 offshore blocks for foreign companies to explore for energy resources and bring vital investments to the crisis-hit country, a top official told Reuters.
Indonesia sends navy to monitor Chinese coast guard ship near Harbour Energy gas field
Indonesia has deployed a warship to its North Natuna Sea to monitor a Chinese coast guard vessel that has been active in the gas-rich maritime area, the country’s naval chief said on Saturday of an area that both countries claim as their own.
Harbour Energy to start drilling for more Indonesia oil and gas in September
Harbour Energy plans to start more frontier oil and gas exploration drilling offshore Indonesia’s Aceh province in September of this year, according to local reports.
Low-carbon investments to rise by $60bn in 2023 as hydrogen and CCUS spending surges
Spending on low-carbon projects will increase by $60 billion this year, 10% higher than 2022, led by wind developments, but helped by a significant rise in funding for hydrogen and carbon capture, utilisation and storage (CCUS) infrastructure, Rystad Energy research shows.
Philippine Supreme Court revokes South China Sea oil and gas exploration deal
Philippine oil and gas drillers tumbled Wednesday after the top court voided the nation’s 2005 deal with China and Vietnam to jointly explore for oil and gas in the South China Sea, less than a week after President Ferdinand Marcos Jr. agreed to revive similar talks with Beijing.