Beijing rattles oil companies in South China Sea off Vietnam
Beijing has increased pressure on Hanoi thereby derailing yet another upstream project in the South China Sea.
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.
Joint venture between Petrofac and SOCAR secures £77m contract with BP Azerbaijan
A joint venture between UK-headquarterd energy services firm Petrofac and Azerbaijan’s state oil company has secured a £77 million contract with BP Azerbaijan.
Adnoc, Wanhua form LPG shipping venture
Adnoc Logistics & Shipping has launched a joint venture with Wanhua Chemical Group focused on the transportation of LPG and products.
Eni strikes one of the biggest gas finds in Southeast Asia for 20 years
Eni has confirmed the presence of a giant gas and condensate field in Block 114 in the Song Hong Basin off Vietnam.
BP’s $6bn deep-water project faces sales price risk in India
Imported LNG looks more price competitive compared to India’s new deep-water gas production over the next two to three years
Upbeat boss says Nucore ‘still has plenty on the go’
An Aberdeen-based engineering group is eyeing a boost from Russia’s Far East after Covid-19 left it “scrimping and saving”, its boss said.
Total enters into joint venture with Indian Oil Corporation
Total has entered into a partnership with Indian Oil Corporation (IOC) to manufacture and market bitumen derivatives.
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.
Sunset at East Timor’s Greater Sunrise LNG after Woodside write-down
Shifting political dynamics in East Timor hint at a change in direction for the petroleum sector as Woodside values the country’s proposed Greater Sunrise project at zero.
Polysilicon makers’ shares soar after blast at rival’s Chinese plant
One of the world’s biggest producers of polysilicon -- a key ingredient for solar power systems -- shut a major plant in China after it suffered a series of explosions, according to a person familiar with the incident.
Cairn-India arbitration ruling expected soon despite Covid disruption
Scottish oil firm Cairn Energy said today that Covid-19 should not significantly delay the long-awaited outcome of its £1.1 billion ($1.4bn) arbitration claim against India.
Floating production system market set for quick rebound, Westwood Global says
The floating production systems (FPS) market will rebound to $13 billion annually from 2021-24 with an average oil price of $60 per barrel, analysts have said.
Politics muddy Indonesia’s $48 billion refinery expansion plan after Aramco walks
Saudi Aramco’s experience may offer a cautionary tale to other investors considering multi-billion-dollar refining partnerships with Indonesian NOC Pertamina
Shell eyes $2.2 billion divestment from giant Indonesia gas project
Shell is pushing ahead with plans to divest its share of the giant Abadi LNG project in the Masela Block offshore Indonesia.
Petrofac wins £107m contract with Kazakhstan’s NCOC
Petrofac has won a $135m (£106.6m) contract in Kazakhstan in a joint venture with locally-based Iskar Group.
Pharos warns of Egyptian decline
Pharos Energy has put on hold all development work in Egypt, which will lead production to decline.
No more FPSO orders in 2020
No more floating production, storage and offloading (FPSO) vessels will be ordered this year, Rystad Energy has predicted.
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.
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.