Asia Pacific-focused Jadestone Energy (LON:JSE) today said it has successfully tied the Montara H6 development well into the Montara field facilities offshore Australia in the Timor Sea and started production.
Sri Lanka will forge ahead with plans to import liquefied natural gas (LNG) in the next few years, even as a global supply crunch sends prices of the fuel soaring.
China’s national oil companies, CNPC, CNOOC, and Sinopec, are expected to spend over $120 billion on drilling and well services by 2025 to help meet rising domestic oil and gas demand. With 118,000 wells estimated to be drilled in China, analysts at Rystad Energy reckon there will be significant opportunities for innovative suppliers.
China begins the sale of its strategic petroleum reserves (SPR) today, which is unlikely to have material impact on crude oil markets globally, reckons Wood Mackenzie.
Indonesian upstream regulator SKK Migas has approved ExxonMobil’s plans to restart drilling at its giant Cepu Block in a bid to find new reserves and stem falling output at the country’s largest oil producing block.
East Timor is extending the deadline for its second licensing round in an effort to drum up more interest from international oil companies (IOCs) and national oil companies (NOCs).
Shell warned that production from two of its largest US Gulf of Mexico fields won’t resume until next year after Hurricane Ida inflicted “significant structural damage.”
Oil dropped as the dollar strengthened and investors turned their attention to a Federal Reserve meeting this week that’s expected to signal moving toward scaling back stimulus.
Indonesian national oil company (NOC) Pertamina has seen production at the giant Rokan Block edge up by 2,000 barrels per day (b/d) since taking over the field from Chevron last month. However, it remains to be seen if the NOC, which plans to spend $2 billion at Rokan by 2025, can significantly boost volumes in the longer term.
The world is facing high energy prices for the foreseeable future as oil and natural gas producers resist the urge to drill again, according to Chevron's top executive.
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.
Oil climbed toward $70 a barrel after a run of three weekly gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand and inventories over the fourth quarter.
Oil prices could hit $200 per barrel if no new investments are made in the upstream oil and gas sector in the short-term, Oman's energy and minerals minister said yesterday in reply to the International Energy Agency's (IEAs) assessment for reaching net-zero emissions by 2050, reported S&P Global Platts.
China made an unprecedented intervention in the global oil market, releasing crude from its strategic reserve for the first time with the explicit aim of lowering prices.
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.
US supermajor ExxonMobil said it is planning to restart exploration drilling at its giant Cepu Block in Indonesia, despite rumours that it is looking to divest its interest, in a bid to find new reserves. Cepu, which holds the Banyu Urip project, one of Southeast Asia’s biggest oil developments, is Indonesia’s largest oil producing block.
Federal authorities are responding to a 14-mile long oil spill in the Gulf of Mexico discovered in the aftermath of Hurricane Ida, officials said Saturday.
An alliance exploring offshore platform electrification in the UK can act as the “glue” that binds together a range of stakeholder interests and make projects a reality.
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.
From congested streets to deserted highways, traffic conditions across Asia are shedding light on each nation’s battle to contain Covid-19 and maintain economic activity, which in turn affects oil consumption.
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.
Oil in New York is headed for the biggest monthly loss since October as investors weighed the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida.
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.
Oil and natural gas explorers in the US Gulf of Mexico and Louisiana refineries have shut production as Hurricane Ida crashed ashore.