Brent oil extended gains to the highest level in seven years as geopolitical tensions stirred in the Middle East and concerns about the demand impact of the omicron virus variant eased.
Australian energy producer Woodside (ASX:WPL) has started front-end engineering design (FEED) work on a hydrogen project for the first time after awarding a deal to Kellogg, Brown & Root (KBR) for its proposed H2OK project in Oklahoma in the US.
Inpex is set to start an exploration drilling campaign offshore Japan as it seeks to prove up new oil and gas fields, which if commercialised will mark the nation’s first new offshore gas development in over three decades.
Spain’s Iberdrola is eying five early-stage offshore wind projects in the Philippines as part of its ambitious push to expand its footprint in the Asia Pacific region.
Australia matched the country’s highest temperature on record, triggering a bushfire warning and temporarily shutting a liquefied natural gas (LNG) export plant on Friday.
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) reported that it has won a contract worth 656.1 billion KRW ($553.4 million) from Chevron to build an offshore facility for the Jansz-Io gas field development offshore Australia.
The conglomerate led by Mukesh Ambani, Asia’s richest man, announced plans to invest $76 billion toward clean energy projects, dwarfing an earlier commitment of $10 billion by the world’s biggest fossil-fuel billionaire.
Petronas Carigali, the upstream subsidiary of Malaysian national oil company (NOC) Petronas, has made a gas discovery at the Hadrah-1 wildcat exploration well of Block SK411, located in the shallow waters of Balingian province about 170 kilometres northwest off the coast of Sarawak, Malaysia.
Power problems on Shell’s Prelude floating liquefied natural gas (FLNG) vessel offshore Australia risked the “catastrophic failure” of parts of the ship’s structure, according to a report by the offshore regulator, reported WA Today.
Singapore’s Sembcorp Marine said it has successfully completed the Vito regional production facility (RPF) for Shell that will operate in the US Gulf of Mexico.
The market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic’s effect in 2021 and is likely to continue apace in 2022, with 10 new awards expected, according to a Rystad Energy report. Two lease contracts were awarded in the fourth quarter of 2021, bringing the total for the year to 10 – up from just three in 2020 – a strong rebound for the FPSO market.
Malaysia’s Petronas and the Sabah State Government on Tuesday launched the Sabah gas masterplan that serves as a reference for both parties in guiding the way forward for the further development of natural gas in the Malaysian state.
China’s worst Covid-19 outbreak since the inaugural flareup in Wuhan is blunting oil demand growth in the world’s largest crude importer, although most major population centers remain unaffected so far.
Major shale-oil drillers are dreading the prospect of $100-a-barrel crude on fears it will tempt less-disciplined rivals to expand output and create a new supply glut.
Pertamina’s Manapatu 1x exploration well in the Mahakam Block offshore East Kalimantan has hit gas. It marks the first discovery for Indonesia in early 2022.
South Korea’s government is being criticised for including natural gas in a category of activities that it deems will help cut emissions.
Singapore-based offshore construction company Sembcorp Marine (SGX:S51) has announced that its wholly-owned subsidiary, Jurong Shipyard, is facing arbitration under four separate contracts due to allegations of a breach of contract and payment claims exceeding $76 million relating to the termination of these contracts.
A longstanding US lawsuit filed against ExxonMobil (NYSE:XOM) that alleges the oil and gas giant was responsible for human rights violations, including sexual assault, battery and wrongful death, that was committed by members of the Indonesian military, could be heard in court within months, reported Nikkei Asia.
While 2021 has seen a surge in revenue from liquefied natural gas (LNG) sales, this has not been reflected in the share prices of the three Australian companies most leveraged to LNG revenue: Woodside (ASX:WPL), Santos (ASX:STO) and Origin Energy (ASX:ORG), EnergyQuest said in a note today.
Australian exports of liquefied natural gas (LNG) hit a record high in 2021 of 80.9 million tonnes, according to estimates based on shipping data from EnergyQuest. Significantly, it is likely that 2021 is close to the peak of Australian LNG production, added the Adelaide-based consultancy.
This year will mark a peak for liquified natural gas (LNG) imports into China as domestic production is set to expand and pipeline imports increase, predict analysts at Fitch Solutions.
Cairn Oil & Gas, India’s largest private exploration and production company, has appointed former BP executive Martyn Smith as chief operating officer.
Oil edged higher as Libyan supply tightened ahead of an OPEC+ meeting on Tuesday to discuss production policy for February.
Pakistan’s natural gas shortage is hurting its most important export industry, putting even more stress on an economy already struggling with accelerating inflation and a weakening currency.
OPEC and its allies are expected to revive more oil supplies when they meet on Tuesday, underscoring the group’s optimism in the outlook for global demand.