Posco International is one of the last foreign companies with a significant stake in Myanmar’s oil and gas sector, despite the industry’s ties to a military regime that has been widely condemned for violations of human rights.
US liquefied natural gas (LNG) developer Cheniere Energy will supply 0.4 million tonnes per year of LNG to South Korea’s POSCO International Corporation, owner of the Asian nation’s first private LNG import terminal, under a new long-term deal.
Malaysian state energy company Petronas and South Korea’s POSCO International will jointly explore opportunities in carbon capture and storage (CCS) technologies, as well as carbon dioxide (CO2) storage solutions in Malaysia. Significantly, Petronas wants to establish Malaysia as the leading hub for CCS in the Asia region.
South Korea’s Posco International has officially been awarded a production-sharing contract (PSC) for Block PM524 in Peninsular Malaysia.
Australian east coast gas producer Senex Energy (AX:SXY) said today that it had received a $605 million takeover offer from POSCO International (KS:047050) and has embarked on an exclusive period of due diligence with the South Korean trader.
The government of Bangladesh has shortlisted eight potential global companies, including ExxonMobil and TotalEnergies, as well as various Japanese players, to build the South Asian nation’s first onshore liquefied natural gas (LNG) import terminal. Significantly, the proposed 7.5 million tonne per year (t/y) LNG processing facility would double Bangladesh’s import capacity.
Transocean’s Deepwater Nautilus semi-submersible unit looks set to keep drilling offshore Myanmar for South Korea’s POSCO after the Swiss-based driller announced a contract extension.
A United Nations (UN) human rights investigator has urged countries to impose economic sanctions on Myanmar’s oil and gas sector to cripple the military junta that seized power in a coup five months ago, reported Reuters.
Denmark-based renewable energy developer Ørsted and South Korean conglomerate POSCO have signed a memorandum of understanding to expand their relationship as the North Asian nation seeks to significantly boost its offshore wind capacity.
Despite the political and social turmoil in Myanmar, South Korea’s Posco International is sending a second deep-water drilling rig to the troubled Southeast Asian state to continue development work at the Shwe gas field.
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.
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.
The apparent overthrow of the Aung San Suu Kyi administration by the Myanmar military threatens more than $1 billion of potential upstream investment in the Southeast Asian nation.
Saudi Aramco has signed new international technology deals, with local content playing a major role.
McDermott International has won the front-end engineering design (FEED) contract for Posco's Shwe Phase 3 gas field development, offshore Myanmar.
One of the world’s leading manufacturers of high performance filtration and separation technology has secured spares orders worth $5million for Asia’s largest gasification projects.