BHP Group on Tuesday said it sees a clear opportunity in oil and gas to enjoy strong returns over the medium term and is ready to seek counter-cyclical deals in a world where many energy companies have cut back on exploration and new projects.
The Indonesian government forecasts that 616 new development wells will be drilled across the archipelago this year following a strong rebound in global crude prices.
Global Engineering and Construction (E&C) is in the midst of a recruitment drive supported by a series of contract wins worth more than £25 million.
Petronas MPM hopes to lure investors to Malaysia’s shallow-water and late-life assets after revealing new fiscal terms as part of an ongoing effort to revive its domestic upstream sector. The move could help Malaysia steal a march on neighboring countries.
New upstream oil and gas projects worth about $15 billion will be sanctioned in Australasia this year, according to Rystad Energy’s forecast, marking a huge boost compared to the $1.2 billion committed to new projects in 2020.
India is set for the largest increase in energy demand of any country over the next 20 years. This underscores the potential for policies and investment to accelerate the clean energy transition, the International Energy Agency (IEA) said in a new report.
The Indian government is trying to persuade ExxonMobil to take stakes in offshore acreage controlled by state-backed Oil & Natural Gas Corporation (ONGC).
Japanese companies are increasingly focused on upstream portfolio rationalisation, with divestment of non-operated stakes in smaller oil, as well as other non-core assets, expected to accelerate, research from Wood Mackenzie shows.
There is a high risk that political turmoil in Myanmar will negatively affect the energy sector, however, Chinese companies look set to benefit from the tumultuous environment, according to Fitch Solutions Country Risk & Industry Research.
CNOOC, China’s third-biggest oil company, aims to raise its capital spending this year to between 90 billion and 100 billion yuan ($15 billion), the highest level since 2014, bucking the industry trend.
Malaysian national oil company (NOC) Petronas said that it is making every effort to ensure the safety of about 155 workers that are sub-contracted on a barge servicing its Yetagun platform in the Andaman Sea off Myanmar following the military coup.
The Asia Pacific region offers plenty of opportunities for the UK’s subsea engineering sector, both in the traditional oil and gas business, as well as the rapidly expanding renewable energy industry, reckons Subsea UK.
Oil rose toward $60 a barrel on expectations OPEC+ is committed to restraining global supplies even as the demand outlook improves.
The past year may have been a relatively lean spell for mergers and acquisitions (M&A) in the region but what are the prospects for the market in 2021?
The bloodless military coup in Myanmar has triggered some upstream companies to assess whether they should activate force majeure clauses in their production-sharing contracts (PSCs) with the government.
Petronas MPM has officially introduced Malaysia’s Small Fields Asset (SFA) production-sharing contract framework as part of an effort to revive its domestic upstream sector and lure new money.
Shell’s boss said today that the recent “strong recovery” in oil prices meant the supermajor would have “room to spend” cash on upstream projects, including in the North Sea.
EnQuest has struck a deal to buy Canadian firm Suncor's 26.69% stake in the Golden Eagle area of the UK North Sea for £240 million.
Shell recorded pre-tax losses of £19.8 billion during an “extraordinary” 2020 marked by the Covid-19 pandemic and lower commodities prices.
The atmosphere in Myanmar remains volatile after the military seized power from the National League for Democracy (NLD) government and is creating logistical challenges for upstream companies, including Woodside Energy, that operate in the country.
Myanmar faces a potential energy crunch following a bloodless military coup that is set to delay urgent upstream investment and derail vital liquefied natural gas (LNG) import projects.
Oil giant BP’s quest to transition away from fossil fuels and become a net-zero emitter by 2050 has left it caught in a “conundrum”, analysts said yesterday.
BP chief executive Bernard Looney said today that he would “emphatically” put value over volume when making low-carbon acquisitions.
Belgian firm NHV Group has clinched a contract to provide crew transfer services for Neptune Energy's Seagull project in the North Sea.
Now that Biden has committed to shifting from fossil fuels, the incoming chairman of the Securities and Exchange Commission, Gary Gensler, must decide whether Big Oil are exempt from basic principles of shareholder democracy.