Asia

Asia

Chevron signs Rokan deal as Indonesia exit looms

Indonesia is taking proactive steps in a bid to avoid a sharp drop in upstream production as state-backed Pertamina takes over more legacy assets from international oil companies (IOCs).

Asia

Mubadala Petroleum eyes $2bn Southeast Asia sale

Mubadala Petroleum has put its Southeast Asia portfolio up for sale for $2 billion. The Abu Dhabi-based company will be following in the footsteps of ExxonMobil, Chevron, Shell, Murphy Oil, Hess, Repsol and Eni, all of which are looking to sell assets in the Asia region.

Asia

East Timor rethinks flawed Greater Sunrise LNG plan

East Timor is reassessing its ambitious petroleum development plans, which include the Woodside Petroleum-operated Greater Sunrise project, after discovering the economic analysis behind its proposed schemes is inaccurate.

Asia

Aramco plans huge spending cut for 2021

Saudi Arabia’s state oil company plans to cut capital expenditure to $25 billion or less next year, about half the amount it was originally planning, according to people familiar with the matter.

Asia

China oil giants cash in with pipeline deals worth $56bn

China’s biggest oil and gas companies finalized deals worth $56 billion to sell their pipeline networks to a new national carrier at premiums to their book value, a long-awaited step that’s being seen as a boost for investors.