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.
Oil headed for a second weekly drop as optimism over a recovery in Chinese demand dimmed and US stockpiles kept rising.
Spanish oil and gas company Repsol (BME:REP) is waiting for the issuance of an Indonesian presidential regulation and the derivative regulations to progress its proposed carbon capture and storage (CCS) project in Sakakemang block, onshore South Sumatra, in Indonesia.
Asian nations counting on offshore wind farms to meet clean energy goals are facing an increasing shortage of ships for installing the massive turbines in the sea.
The Prosperity FPSO will be the third of four FPSOs Keppel is undertaking for deployment in Guyana.
India defended its use of fossil fuels citing energy security priorities, even as the country vowed to remain committed to decarbonisation.
Will 2023 see the majors, including ExxonMobil, Chevron, Shell, BP, ConocoPhillips, TotalEnergies, and Eni, divest upstream oil and gas assets in Southeast Asia?
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.
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.
Brunei LNG will start supplying liquefied natural gas (LNG) to Japan Petroleum Exploration Co. (JAPEX) from April as the company seeks to stabilise finances by boosting shipments to its largest export destination, reported Nikkei Asia.
Petronas has signed two project development agreements with ExxonMobil (NYSE:XOM) to jointly pursue carbon capture and storage (CCS) activation projects in Malaysia.
Keppel Offshore & Marine (Keppel O&M) said on Monday that it has made full payment of the fines and damages payable worth 343.6 million reais (US$65 million) to Brazil under a leniency agreement that had been set out earlier.
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.
The Western Australian government today signed a new Memorandum of Understanding (MOU) with the Japan Bank for International Cooperation (JBIC) covering hydrogen, ammonia, low emission technology and decarbonisation.
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.
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 futures extended losses below $3 amid mild winter weather that helped spark the worst selloff among the country’s commodities.
An ambitious plan to power Singapore using Australian solar won another lifeline on Wednesday after a court in Sydney agreed to a sales process put forward by the project’s administrators.
Malaysia’s international energy shipping company MISC, which is closely tied to Petronas, has signed agreements with Japan’s Mitsui, South Korea’s Samsung Heavy Industries (SHI), and Austria’s ANDRITZ, to explore carbon capture and storage (CCS) solutions in the maritime value chain.
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 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.
Japan’s Nippon Steel is considering capturing carbon dioxide (CO2) emissions from its Japanese steel mills for underground storage at facilities linked to ExxonMobil (NYSE:XOM) in countries including Australia, Malaysia and Indonesia, reported Nikkei Asia.
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.
The US said it will increase pressure on China to stop buying Iranian oil, as the White House seeks to enforce sanctions aimed at curbing the Islamic Republic’s nuclear activities.
The price cap on Russian crude oil exports is starving President Vladimir Putin’s budget of income, though it likely won’t force him to ratchet down spending for years thanks to a $45 billion buffer of yuan reserves.
