India is trying to get deeper discounts on Russian oil to compensate for the risk of dealing with the OPEC+ producer as other buyers turn away, according to people with knowledge of the matter.
Nuclear power will play a crucial role in China’s decarbonisation drive with capacity set to expand 7% every year to 2035, according to S&P Global Ratings.
Australian oil and gas company Woodside is planning to build a pilot carbon capture and utilisation plant in Western Australia. The Eastern Metropolitan Regional Council (EMRC) and Woodside are collaborating on a carbon-to-products pilot project that proposes to recycle greenhouse gases into useful products.
Japan will consider providing financial support to boost production of liquefied natural gas (LNG) in the U.S., reported financial publication Nikkei Asia, as Tokyo aims to lower its energy dependence on Russia following Moscow's invasion of Ukraine.
The remuneration package for Kevin Gallagher, chief executive of Australian oil and gas company Santos (ASX:STO), has been criticised as too high with over 25% of shareholders voting against his pay packet.
Australia’s Carnarvon Energy (ASX:CVN) reported that the recent Pavo-1 exploration well drilled offshore Australia proved up a “substantial volume of light oil in excellent quality reservoirs” and “significantly increases Carnarvon’s oil resources for potential development through the Dorado facilities.”
Oil held gains above $105 a barrel as investors weighed higher demand for refined products against a slew of lockdowns in major cities in China.
India’s Oil and Natural Gas Corporation Limited (ONGC) and Norway’s Equinor will collaborate in the areas of upstream exploration and production (E&P), midstream, downstream, and clean energy options, including carbon capture utilisation and storage (CCUS) in India, after the pair signed a memorandum of understanding (MoU).
Malaysia’s Petronas and Thailand’s PTT Exploration & Production (PTTEP) have announced they will exit the Yetagun gas project offshore Myanmar as they rationalise their upstream portfolios. Neither company denounced the military-led coup in their exit statements.
BP (LON:BP) has restarted its second liquefied natural gas (LNG) export train at the Tangguh complex in Indonesia following a shutdown due to mechanical irregularities. The Tangguh Train 2 plant has a processing capacity of 3.8 million tonnes per year of LNG.
Oil is poised to eke out a fifth monthly advance after another tumultuous period of trading that saw prices whipsawed by the fallout of Russia’s war in Ukraine and the resurgence of Covid-19 in China.
Canada’s Valeura Energy will buy two operated licences offshore Thailand from Singapore’s KrisEnergy, which was forced into liquidation last year, for a price of $3.1 million. There will also be certain contingent payments of up to a further $7 million related to future development milestones, said Valeura Energy.
Santos today announced completion of the sale of a 12.5% interest in the Barossa project off northern Australia to Japan’s JERA, the world’s largest buyer of liquefied natural gas (LNG), following the completion of all regulatory approvals.
CNOOC has brushed aside recent media reports that the firm is considering withdrawing from oilfield investments in the UK North Sea, the US and Canada.
French oil major TotalEnergies plans to use part of its cash bonanza generated from surging hydrocarbon prices to speed up investment in liquefied natural gas (LNG) projects and renewables.
Italian energy giant Eni is preparing to open ruble accounts at Gazprombank JSC, allowing it to potentially comply with Russian demands that gas must be paid for in local currency, according to people familiar with the matter.
JERA, the largest power generation company in Japan, producing about 30% of the nation’s electricity, is planning to develop at least 1 GW of solar power by end-2025, with new business partner West Holdings, a Japanese renewable energy engineering company.
A worker reportedly lost his life while scrapping an FPSO unit, formerly owned by Oslo-listed BW Offshore (OL:BWO), at an Indian beaching yard on 21 April, according to a report from an NGO. However, BW Offshore denied the report, and said Wednesday that the incident “was unrelated to the ongoing recycling of former BW Offshore FPSOs at the yard.”
ExxonMobil said Wednesday that it has declared force majeure for its Sakhalin-1 operations in Far East Russia after it became too difficult to ship crude oil due to sanctions, reported Reuters.
TotalEnergies took a $4.1 billion write-down on its flagship Russian gas project and indicated that it may belatedly join its peers in pulling back from the country two months after the invasion of Ukraine.
Sembcorp Marine has agreed to merge with Keppel Offshore & Marine in a deal that will create the world’s biggest builder of oil rigs and push the business further into renewables and alternative energy solutions. The pair are forming what could be one of the world’s largest offshore energy players worth $6.3 billion.
Japan’s JERA has signed a memorandum of understanding with Electricity Generating Public Company Limited (EGCO), a major power generation company in Thailand, to cooperate in the energy transition field. The pair are eying opportunities in LNG, hydrogen, and ammonia.
Widespread adoption of carbon capture, utilisation and storage (CCUS) technologies in Southeast Asia remains highly unlikely, according to the latest findings from the Institute for Energy Economics and Financial Analysis (IEEFA).
Liquefied natural gas (LNG) developer Woodside (ASX:WPL) is considering new investment opportunities, including the Browse and Greater Sunrise fields, on expectations that new supply will be needed to alleviate global energy market tightness.
Only five blocks out of 18 blocks offered in East Timor’s second licensing round have been awarded. East Timor’s National Petroleum and Minerals Authority (ANPM) said that it has awarded three onshore blocks and two offshore blocks.
