The increasing geopolitical rivalry between the U.S. and China has more than a 50% chance of spilling over into some form of military confrontation in the year ahead. This could involve threats, posturing, or the actual use of force, as well as have serious implications for energy companies and markets.
Oil Search has named Peter Fredricson as chief financial officer effective 23 March 2021 as the Australian-listed company pushes growth projects in Papua New Guinea and Alsaka.
As expected, COVID wrought havoc with earnings, leaving ExxonMobil with an enterprise-wide return on capital employed of minus 9.5%. But the real story was not in the income statement; it was the estimate of oil reserves.
Analysis from investment house Bernstein suggests that the Chinese oil majors - CNOOC, Sinopec and PetroChina - offer a potential 30% upside as they trade at a wide discount to historic prices and global peers.
Chevron has successfully cleaned up an oil spill from one of its pipes, at the Dumai Port in Riau, Indonesia, that is used to ship hydrocarbons from its Rokan Block.
Sinopec aims to massively expand its hydrogen refuelling network as the state-owned oil giant, which has the potential to become one of the world’s largest hydrogen producers, attempts to carve out a role in China’s transition to cleaner energy.
Majors, such as BP, Total and Shell, as well as Asian national oil companies (NOCs), are stepping up their investments in India’s rapidly expanding gas and renewables markets.
The U.S. oil and gas industry should embrace “huge opportunities” in producing and transporting hydrogen, with the potential for that cutting-edge energy source to fuel long-haul trucks and supply power globally, presidential climate envoy John Kerry said Tuesday.
India, once the center of global oil demand growth, expects its fuel consumption to bounce back during the coming year as the nation recoups the losses caused by Covid-19.
The Ceylon Electricity Board (CEB) has launched an international tender process for a floating storage regasification unit (FSRU) as Sri Lanka aims to start importing liquefied natural gas (LNG).
France’s Total will join FueLNG - a joint venture between Keppel O&M and Anglo-Dutch major Shell - and Pavilion Energy, as a licensed LNG bunkering provider at the port of Singapore.
Chevron has spilled an unknown quantity of oil from one of its pipes, at the Dumai Port in Riau, Indonesia, that is used to ship hydrocarbons from its Rokan Block.
Malaysia’s Petronas is almost doubling its yearly capital investment spend on new energy initiatives this year as it eyes a slow measured diversification away from the traditional oil and gas business.
Russian gas independent Novatek is set to export more than 3 million tonnes per year (t/y) of LNG to China from the Arctic LNG 2 project as part of its latest deal with Shenergy Group.
Australia’s Woodside Energy is reducing its presence in Myanmar and expects to fully demobilise its offshore exploration drilling team over the coming weeks following reports of human rights violations in the Southeast Asian nation.
Asia Pacific-focused Jadestone Energy is preparing to re-issue a tender for a floating production storage and offloading (FPSO) vessel for its planned gas development at Nam Du and U Minh off Vietnam.
From trading houses in Geneva to Wall Street banks, much of the oil world agrees that global markets could use some more barrels. The big question is whether OPEC+ will provide enough of them.
Petronas MPM reckons there is at least 6 billion barrels of oil equivalent (boe) waiting to be discovered in Malaysia’s deep waters.
Thailand’s PTT Exploration & Production (PTTEP) reported it is having difficulty accessing the Chevron-operated Erawan gas field to install production facilities as planned, ahead of a handover next year.
Analysts at IHS Market report that Repsol’s highly anticipated Rencong-1X wildcat in the frontier deep waters of Indonesia’s North Sumatra basin is targeting prospective gas resources of 4 trillion cubic feet (cf).
Chevron has announced the launch of its $300 million Future Energy Fund II focused on technologies that have the potential to enable affordable, reliable, and ever-cleaner energy for all, it said.
Indonesia national oil company (NOC) Pertamina is reviewing its liquefied natural gas (LNG) purchase contract with the Total-led Mozambique LNG development after lawmakers questioned the deal signed in 2019.
FueLNG, a joint venture between Keppel O&M and Anglo-Dutch major Shell, has started up Singapore’s first LNG bunkering ship, the FueLNG Bellina. It marks part of Singapore’s efforts to establish itself as a global LNG bunkering hub.
Malaysian national oil company (NOC) Petronas has hit oil at its North Madura II production-sharing contract (PSC) offshore East Java, Indonesia.
Indonesian national oil company (NOC) Pertamina has so far failed to agree a commercial deal with Chevron for a key chemical formula that is critical for enhanced oil recovery (EOR) efforts at the legacy Rokan Block.