ExxonMobil eyes foothold in Vietnam LNG market
ExxonMobil is exploring opportunities to invest in LNG-to-power projects in Vietnam as the country faces chronic electricity shortages and Hanoi welcomes US companies to fix a trade imbalance.
Asia
Cortez clinches 5-year deal with Repsol in Malaysia
Subsea technology and services company Cortez Subsea has clinched a five-year deal to provide an inspection management system offshore Malaysia.
Keppel starts arbitration against Awilco over cancelled rig order
Singaporean rig builder Keppel Fels has commenced arbitration proceedings to challenge Awilco's decision to terminate a $425 million order.
Petronas surrenders to Sarawak tax demands as CEO walks
Petronas’ new CEO is expected to take a more conciliatory approach to a dispute with Sarawak, as well as prepare the Malaysian NOC for a potential public listing
Decom North Sea in pact to open up opportunities in Brunei
Representative body Decom North Sea (DNS) has entered into a pact to help its members find work in Brunei’s growing late life and decommissioning sector.
Might makes for LNG opportunities
Pandemic-driven lockdowns have taken their toll on small companies in every sector, while larger companies can take a longer view on matters, including in the LNG sector.
Petronas grabs first mover advantage in Myanmar’s LNG market
Malaysia’s Petronas has delivered Myanmar’s first ever LNG cargoes. This marks the emergence of a new consumer for the fuel in the Asia region.
Legal action looms between Keppel and Awilco over cancelled rig deal
Rig builder Keppel Fels is "considering legal options" after Oslo-listed contractor Awilco pulled the plug on a $425 million order.
Energean’s Karish plan slips
Work has restarted in Singapore on a vessel for Energean that is due to begin producing gas off Israel in 2021.
China eyes African opportunities
Amidst the oil price crash crisis and the pressure on companies, opportunities are emerging for those with resources.
BlackRock warns Korean utility on overseas coal plant push
BlackRock Inc. has challenged Korea Electric Power Corp. over plans to invest in new coal-fired power plants in Vietnam and Indonesia.
Thailand opens up LNG market, eyes regional trade
Thailand is issuing more liquefied natural gas (LNG) import licences as it attempts to liberalise its gas market and position itself as a regional LNG trading hub.
China’s Q2 2020 oil demand shows signs of recovery
According to the latest analysis by Wood Mackenzie, China’s oil demand will recover to 13 million barrels per day (b/d) in Q2 2020, a 16.3% jump compared to Q1 this year.
JGC positive on Middle Eastern contracts
Japan’s JGC remains positive about receiving the go ahead for work in Qatar, Iraq, Oman and Mozambique.
Beijing triumphs in South China Sea oil spat
China has arguably triumphed in its face-off with Malaysia over oil and gas exploration in the disputed waters of the South China Sea.
Tensions boil in South China Sea as Petronas drills
Tensions are rising in the resource-rich South China Sea following a recent standoff between Kuala Lumpur and Beijing over Malaysian oil and gas exploration.
European gas demand under pressure
The impact of coronavirus has not been felt as strongly by the gas industry as oil, Rystad Energy’s CEO Jarand Rystad has said, although increasing LNG production seems set to keep prices under pressure this year.
Beijing harasses Petronas and Shell off Malaysia
A four-month long standoff over oil and gas operations in the South China Sea is intensifying between Malaysian, Chinese, and Vietnamese ships, though all three governments have managed to keep it out of the public eye, until very recently.
Spear phishing picks up Egyptian opportunity
Two cyber campaigns have been identified that have been highly focused on particular parts of the oil and gas industry, using the same spyware Trojan, by security company Bitdefender.
Asia Pacific M&A shake-up on the horizon
More assets are expected to hit the market across Asia Pacific this year following the sustained drop in global oil prices and the COVID-19 pandemic, which has destroyed energy demand growth as economic activity contracts.
IEA: short-term pain to balance out in second half
Actions taken by producer states under the OPEC+ banner, coupled with moving oil into storage, should see a stock draw of 4.7 million barrels per day in the second half of 2020, the International Energy Agency (IEA) has said in its recent Oil Market Report (OMR).
Fabled Singapore oil trader appoints advisers amid bank squeeze
Singapore oil trader Hin Leong Trading (Pte.) Ltd. has appointed advisers to help in talks with banks as some of them freeze credit lines to the firm, according to people with knowledge of the matter.
Silver lining for Asian LNG market after oil price crash
Lower long-term LNG prices could encourage coal-to-gas switching in Northeast Asia, while Chinese LNG demand is also expected to expand this year, albeit at a slower rate, as China gets back to work.
Asian NOCs set to maintain domestic upstream spend
While most international oil companies (IOCs) have stated they will make major spending cuts this year in response to the downturn, Asian national oil companies (NOCs) are expected to maintain domestic upstream spending to help employment and economic activity levels.
PNG-focused Oil Search is a takeover target
Despite a recently announced planned capital raising, Australian-listed Oil Search, which has major stakes in Papua New Guinea’s emerging LNG sector, is a prime takeover target, as mergers become more likely in a low oil price world.