Jadestone Energy is pressing ahead with its Akatara onshore gas field development in Indonesia after receiving government approval.
Bechtel will provide front-end engineering and design (FEED) services for Delta Energy Offshore’s proposed LNG-to-power project in southern Vietnam.
China’s Sinopec has started building the country’s first large-scale carbon capture utilisation and storage (CCUS) project as part of its target to be carbon-neutral by 2050.
India’s state-backed Oil & Natural Gas Corporation (ONGC) said that it plans to spend 300 billion Indian rupees ($4.03 billion) during its current financial year to boost oil and gas output. ONGC’s profits have also bounced back.
The OPEC+ oil cartel is facing its biggest crisis since a price war at the start of the coronavirus pandemic.
The Chevron-led Gorgon LNG venture in Australia will proceed with a $4 billion investment for the Jansz-Io compression development that will keep customers in Asia supplied with gas for decades. Significantly, the subsea compression project, needed to move the gas from the deep seas to shore, will be the first of its kind outside of Norway.
The expected return of Iranian oil to the market as US sanctions are likely to be lifted over the next year will offer new opportunities for former buyers in Asia to reshuffle their oil import mixes. Significantly, the return of Iranian barrels will trigger a fierce battle among global suppliers for market share raising the risk of price drops, reported Fitch Solutions.
Saudi Arabia and the United Arab Emirates cranked up the tension in their OPEC standoff as the rare diplomatic spat between long-time allies leaves the global economy guessing how much oil it will get next month.
Carbon capture and storage (CCS) is seen as an essential requirement by the oil and gas industry for it to meet the targets of the Paris Agreement, however the only way it will become commercially viable is if companies collaborate to create shared-CCS hubs, according to Wood Mackenzie.
The OPEC+ alliance descended into bitter infighting after a key member blocked a deal at the last minute, forcing the group to postpone its meeting and casting doubt on an agreement that could ease a surge in oil prices.
Australia is on the verge of its largest-ever wave of decommissioning as offshore development wells reach the end of their producing life. This is both adding headaches for producers and creating a multi-billion dollar opportunity for plugging and abandonment (P&A) suppliers.
Shell has failed to generate any significant interest in the sales process for its share of the giant Abadi LNG project one year after the Indonesian government announced the Anglo-Dutch supermajor’s intention to divest.
East Timor could pocket just over $600 million if the Buffalo-10 exploration well, due to be drilled late October, is successful. The operator, Australia’s Carnarvon Petroleum, as well as UK partner Advance Energy, said yesterday that they have secured a jack-up drilling rig for the probe at the historic Buffalo field offshore East Timor.
ExxonMobil’s chief executive Darren Woods says the company is “deeply apologetic” over comments caught on camera in a secret filming by Greenpeace that show one of the oil giant’s lobbyists saying a carbon tax the company has promoted for years is unlikely to happen.
Qatar Petroleum is set to supply another 1 million tonnes per year (t/y) of liquefied natural gas (LNG) to China after signing a 10-year contract with Shell. The deal brings Qatari LNG supplies to China under long-term deals to 12 million t/y.
India expects fuel demand to get back to pre-virus levels by the end of 2021 as the world’s third-biggest oil consumer emerges from the clutches of the Covid-19 pandemic.
Oil climbed back above $73 a barrel after an industry report pointed to a big decline in US crude inventories ahead of an OPEC+ meeting that’s expected to lead to the group returning more supply to the market.
Thailand’s PTT Exploration & Production (PTTEP) is having difficulty accessing the Chevron-operated Erawan gas field to install production facilities as planned, ahead of a transition next year. PTTEP is now reportedly “losing hope” of gaining access before next April’s handover due to an unresolved legal battle with Chevron.
Repsol and partner Petronas plan to take a final investment decision (FID) on the giant Kali Berau Dalam (KBD) gas discovery on the Sakakemang Block in Indonesia next year with full production targeted by 2027.
State-owned Pakistan State Oil, Pak-Arab Refinery and Pakistan LNG will receive a $4.5 billion loan to fund imports of crude, petroleum products, urea and LNG over 2021-2023.
Indonesia upstream regulator SKKMigas today announced that the South Jambi B Block onshore Sumatra and operated by Hong Kong’s Jindi Group has started flowing natural gas.
China’s long-awaited national carbon market is set to miss a government target to begin by the end of June, a new set-back to plans to create the world’s largest emissions trading system.
Oil extended losses as a coronavirus resurgence raised concerns about demand ahead of an OPEC+ meeting this week that could see the alliance boost some halted output.
Australia’s Santos today announced that its large Dorado oil project offshore Western Australia has started the front-end engineering and design (FEED) phase. Santos is also seeking buyers for a share in the development, which has a “very low” carbon dioxide footprint and is expected to initially cost $2 billion.
UK-listed Harbour Energy said it is on track to probe the deep waters of Indonesia’s North Sumatra basin in its Andaman II production-sharing contract (PSC).